Teradyne Reports Record Sales and Net Income

BOSTON--(BUSINESS WIRE)--July 18, 2000--Teradyne, Inc. (NYSE: TER) reported sales of $759.0 million and net income of $137.6 million ($0.76 per share) for the Second Quarter of 2000. Orders for the Second Quarter of 2000 totaled $826.4 million.

Quarter Ended                        July 2, 2000   July 4, 1999
                                           (In thousands,
                                      except per share amounts)

Sales                                   $ 758,955      $ 400,904

Net income                                137,612         35,804

Earnings per share (diluted)                $0.76          $0.20

Weighted average number of
 shares and equivalents                   181,697        178,061


Six Months Ended                     July 2, 2000   July 4, 1999
                                           (In thousands,
                                      except per share amounts)

Sales                                 $ 1,407,086      $ 745,358

Net income                                246,705         53,799

Earnings per share (diluted)                $1.36          $0.30

Weighted average number of
 shares and equivalents                   181,285        178,028

        Teradyne, Inc. Report for Second Fiscal Quarter of 2000

               CONDENSED CONSOLIDATED INCOME STATEMENTS
               (In thousands, except per share amounts)

                          Quarter Ended:            Six Months Ended:
                       7/2/00        7/4/99      7/2/00         7/4/99

 Net Sales           $758,955      $400,904   $1,407,086      $745,358

   Cost of Sales      402,570       236,940      751,410       456,798
   Engineering and
   Development         73,637        56,829      142,662       104,553
   Selling and
    Administrative     91,982        59,386      170,938       113,867
   Interest, Net      (5,823)       (3,400)     (10,360)       (6,716)

     Net Expenses     562,366       349,755    1,054,650       668,502

 Income Before Taxes  196,589        51,149      352,436        76,856

 Net Income          $137,612       $35,804     $246,705       $53,799

 Net Income per
  Common Share
   -- Diluted           $0.76         $0.20        $1.36         $0.30

 Shares used in
  calculation of
   Net Income per
    Common Share
     -- Diluted       181,697       178,061      181,285       178,028

 Net Orders          $826,421      $571,007   $1,850,603    $1,015,088


         CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)

                                             7/2/00        12/31/99
Assets
  Cash, Cash Equivalents and
   Marketable Securities                   $ 297,011      $ 247,661
  Accounts Receivable                        485,911        296,159
  Inventories                                411,729        268,693
  Other Current Assets                        86,099         95,174
                                           1,280,750        907,687
  Net Property, Plant and Equipment          588,294        497,739
  Long-term Marketable Securities            136,814        139,752
  Other Assets                                26,578         23,035

                                          $2,032,436     $1,568,213

Liabilities
  Current Liabilities                      $ 518,619      $ 392,326
  Long-term Liabilities                       22,636         22,855

Shareholders' Equity                       1,491,181      1,153,032

                                          $2,032,436     $1,568,213