Teradyne reports strong Q3 today (before LAM's)
Teradyne is a competitor to LAM resewrch which reports tomorrow. Hopefully their strong quarter hasnt translated into taking business away from LAM and Pho. We delivered quarterly sales above plan and generated a dollar per share or more in non-GAAP earnings for the third consecutive quarter, said CEO and President Mark Jagiela. The results were driven by record memory and storage test shipments along with strong System on a Chip (SOC) test demand for mobility and compute devices. In Industrial Automation, sales grew 17% from Q220 on the combination of improving conditions in the manufacturing sector and new products. Entering Q4, market conditions in our test businesses are stronger than expected and weve positioned our production capacity to respond to potential short lead time demands as we move through the quarter. For the full year 2020, at the mid-point of our guidance, we expect our year-over-year sales to grow more than 33% to over $3.0 billion and GAAP earning per share to grow 58% to $4.12 and non-GAAP earnings per share to grow 57% to $4.50. Guidance for the fourth quarter of 2020 is revenue of $680 million to $740 million, with GAAP net income of $0.81 to $0.96 per diluted share and non-GAAP net income of $0.90 to $1.06 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization, non-cash convertible debt interest and includes the related tax impact on non-GAAP adjustments. https://www.globenewswire.com/news-release/2020/10/20/2111439/0/en/Teradyne-Reports-Third-Quarter-2020-Results.html