Teradyne Reports Fourth Quarter and Fiscal Year 2015 Results

(4)For the year ended December 31, 2014, selling and administrative expenses include an equity charge for the modification of Teradyne's retired CEO's outstanding equity awards to allow continued vesting and maintain the original term in connection with his January 31, 2014 retirement.

(5)For the year ended December 31, 2015, interest and other included a gain from the sale of an equity investment. For the year ended December 31, 2014, interest and other included non-cash convertible debt interest expense.

(6)For the years ended December 31, 2015 and December 31, 2014, adjustment to exclude discrete income tax items. Non-GAAP net income and earnings per share include R&D tax credit.

(7)For the year ended December 31, 2014. the calculation of non-GAAP diluted earnings per share gives benefit to the Company's call option on its stock for 34.7 million shares at $5.48. As a result, 5 million shares have been included in non-GAAP diluted shares and net interest expense of $2.0 million has been added back to non-GAAP net income for the non-GAAP diluted earnings per share calculation.

     
GAAP to Non-GAAP Reconciliation of First Quarter 2016 guidance:
GAAP and non-GAAP first quarter revenue guidance: $410 million to $440 million
GAAP net income per diluted share $ 0.15 $ 0.21
Exclude acquired intangible assets amortization 0.10 0.10
Tax effect of non-GAAP adjustment   (0.02 )   (0.02 )
Non-GAAP net income per diluted share $ 0.23 $ 0.29

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