Teradyne Reports First Quarter 2021 Results


         Net Income per Common Share      Net Income per Common Share      Net Income per Common Share
     April 4, 2021  % of Net Revenues  Basic   Diluted  December 31, 2020  % of Net Revenues  Basic   Diluted  March 29, 2020  % of Net Revenues  Basic   Diluted
Net income - GAAP$205.5   26.3% $1.23  $1.09  $196.3  25.9% $1.18  $1.05  $176.2  25.0% $1.06  $0.97 
 Restructuring and other (1) (7.1)  -0.9%  (0.04)  (0.04)  (15.1)   -2.0 %     (0.09 )     (0.08 )     (7.6 )   -1.1 %     (0.05 )     (0.04 )
  Acquired intangible assets amortization   5.5       0.7 %     0.03       0.03       5.8     0.8 %     0.03       0.03       9.9     1.4 %     0.06       0.05  
  Loss on convertible debt conversions (2)   4.1       0.5 %     0.02       0.02       -     -       -       -       -     -       -       -  
  Interest and other expense (2)   3.6       0.5 %     0.02       0.02       3.7     0.5 %     0.02       0.02       3.5     0.5 %     0.02       0.02  
  Pension mark-to-market adjustment (2)   -       -       -       -       7.7     1.0 %     0.05       0.04       -     -       -       -  
  Equity modification charge   -       -       -       -       0.8     0.1 %     0.00       0.00       -     -       -       -  
  Inventory step-up   -       -       -       -       -     -       -       -       0.1     0.0 %     0.00       0.00  
  Exclude discrete tax adjustments   (15.1 )     -1.9 %     (0.09 )     (0.08 )     (2.1 )   -0.3 %     (0.01 )     (0.01 )     (7.7 )   -1.1 %     (0.05 )     (0.04 )
  Non-GAAP tax adjustments   (0.3 )     -0.0 %     (0.00 )     (0.00 )     (3.9 )   -0.5 %     (0.02 )     (0.02 )     (1.9 )   -0.3 %     (0.01 )     (0.01 )
  Convertible share adjustment (3)   -       -       -       0.06       -     -       -       0.06       -     -       -       0.04  
Net income - non-GAAP $ 196.2       25.1 %   $ 1.18     $ 1.11     $ 193.2     25.5 %   $ 1.16     $ 1.10     $ 172.5     24.5 %   $ 1.04     $ 1.00  
                                                     
GAAP and non-GAAP weighted average common shares - basic   166.5                   166.1                   166.6              
GAAP weighted average common shares - diluted   187.7                   186.8                   180.7              
  Exclude dilutive shares related to convertible note transaction       (10.3 )                 (10.0 )                 (7.3 )            
Non-GAAP weighted average common shares - diluted   177.4                   176.8                   173.4              

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