Teradyne Inc. (Boston, MA) reported sales of $329 million for the third quarter of 2003, and a net loss on a generally accepted accounting principles (GAAP) basis of $53.5 million, or $0.28 per share. The pro-forma net loss for the third quarter of 2003 was $26.8 million, or $0.14 per share, before special charges. Net orders increased 10% from the previous quarter, to $336 million.
"On balance, we are encouraged by our results in the quarter," said George Chamillard, Teradyne chairman and CEO. "Our orders improved, and our new products are gaining momentum. The third quarter marked our eighth successive period of increasing orders and our book-to-bill ratio was greater than 1.0 for the first time in three years. In addition, we made progress lowering costs during the quarter, enabling us to continue on the path to profitability."
