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Teradyne warns on 2Q
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June 19, 2001: 7:01 p.m. ET
Chip testing equipment maker expects revenue down $75M from guidance
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NEW YORK (CNNfn) - Teradyne, the world's top maker of semiconductor testing equipment, warned on its second-quarter revenue and earnings because of deteriorating business conditions.
The company said Tuesday it expects to have sales in the range of $350 million-to-$375 million, down from previous guidance of $425 million-to-$450 million. This will translate into a loss between 5 and 10 cents per share, compared to First Call analysts' consensus estimates of a penny per share profit.
Teradyne (TER: Research, Estimates) said it has cut 12 percent of its work force since 2000, including 180 layoffs this week. The company said its business is down more than 50 percent from its peak in the third quarter of 2000.
The company's stock fell $1.93 to $38.15 on the New York Stock Exchange Tuesday. 
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Teradyne
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