Teradyne released earnings for the fourth quarter of 2003 yesterday. For more information visit www.teradyne.com, and click on Investors.
About Teradyne
Teradyne (NYSE:TER) is the world's largest supplier of Automatic Test Equipment, and a leading supplier of interconnection systems. The company's products deliver competitive advantage to the world's leading semiconductor, electronics, automotive and network systems companies. In 2003, Teradyne had sales of $ 1.4 billion, and currently employs about 6100 people worldwide. For more information, visit www.teradyne.com. Teradyne is a trademark of Teradyne, Inc. in the US and other countries.
Safe Harbor Statement
This release contains "forward-looking statements" as defined under the Federal Securities Laws, which are based on the assumptions and expectations of Teradyne's management at the time such statements are made. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Teradyne's actual results to differ materially from those projected in the forward-looking statements. These forward-looking statements include statements regarding our revenue, earnings, profit and loss expectations, order growth, future business strategies and market opportunities, improvements in our business, demand for our products and general economic outlook. Among the risk factors are: adverse changes in general economic or market conditions, including market demand for electronics; war or the threat of terrorist attacks; reductions or delays in capital investment; technological and market changes; disruptions or delays in Teradyne's supply chain; Teradyne's ability to protect its intellectual property; the historically cyclical nature of the markets that Teradyne serves; new product development introductions and transitions and any delays; uncertainty of customer acceptance of new product offerings including the timing, rice and mix f new product acceptance; decisions by customers to cancel or defer orders that previously had been accepted; competitive pressures including pricing and gross margin pressures; the effectiveness of our implementation of cost cutting and expense control measures, including facility consolidations, employee reductions, the centralization of certain shared services, seeking lower prices from suppliers and the outsourcing of selected manufacturing and engineering activities; insufficient, excess or obsolete inventory; disruptions, delays and shortages in raw material and component availability, internal and external manufacturing capability, and raw material and component quality; the impact of and our ability to manage the effects of past or future acquisitions or divestitures; the class action securities litigation brought against Teradyne; the increase in our debt service obligations and debt to capital ratio resulting from our issuance of $400 million aggregate principal amount of senior convertible notes in 2001; the availability of additional financing; the impact of being required to account for stock options as an expense; the ability to attract and retain key employees; the risks of potential environmental liability; the risks of operating internationally which include political and economic instability and unexpected changes in legal and regulatory requirements and in policy changes affecting international markets; and other events, factors and risks previously and from time to time disclosed in our filings with the Securities and Exchange Commission including, but not limited to, Teradyne's annual report on Form 10-K and quarterly reports on Form 10-Q. Teradyne assumes no obligation to update the information in this press release.
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