Teradyne (TER) FY2016 results: revenue $1.8 billion, up 6.9% on the year
Teradyne, Inc. (TER) reported revenue of $1.8 billion for fiscal 2016, the year ended 31 December 2016, up 6.9% on the year before. Net income was -$43 million, and diluted earnings per share $-0.21. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$1.8 billion
+6.9% on the year
FY2009FY2016
Operating margin
-3.6%
14.8% a year earlier
FY2009FY2016
Net income
-$43 million
FY2009FY2016
Diluted EPS
-$0.21
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,753
1,640
1,648
+6.9%
Cost of revenue
794
724
769
+9.6%
Gross profit
960
916
879
+4.8%
Gross margin
54.7%
55.8%
53.3%
Research and development
292
292
292
-0.0%
Selling, general and administrative
317
306
320
+3.3%
Operating income
-63.0
243
96.4
Operating margin
-3.6%
14.8%
5.9%
Interest expense
3.6
1.9
6.9
+93.9%
Pre-tax income
-55.1
253
95.4
Income tax
-11.6
46.6
14.1
Effective tax rate
n/a
18.4%
14.8%
Net income
-43.4
206
81.3
Net margin
-2.5%
12.6%
4.9%
Diluted EPS
-$0.21
$0.97
$0.37
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
455
n/a
492
Capital expenditure
85.3
89.9
169
-5.1%
Free cash flow
370
n/a
323
Free cash flow margin
21.1%
n/a
19.6%
Cash from investing
-640
n/a
n/a
Cash from financing
228
n/a
n/a
Depreciation and amortisation
120
141
153
-14.7%
Share-based compensation
30.8
30.5
40.3
+1.0%
Buybacks
146
300
n/a
-51.2%
Dividends paid
48.6
50.7
37.4
-4.1%
Dividend per share
$0.24
$0.24
$0.18
0.0%
Diluted shares, weighted
203m
213m
223m
-5.0%
Shares outstanding at period end
199m
204m
217m
-2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,829
1,966
2,079
-7.0%
Debt
353
0.0
0.0
Other liabilities
581
583
460
-0.3%
Total liabilities and equity
2,762
2,549
2,539
+8.4%
Fixed assets
254
273
329
-7.2%
Goodwill
223
488
273
-54.3%
Intangible assets
100
240
191
-58.1%
Investments
1,305
744
1,005
+75.5%
Cash and equivalents
308
265
294
+16.3%
Receivables
192
211
151
-8.9%
Inventory
136
154
105
-11.5%
Other assets
244
174
190
+40.3%
Total assets
2,762
2,549
2,539
+8.4%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.