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SUPPLEMENTARY INFORMATION (Tables) | 62 Months Ended
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Dec. 31, 2012
Consolidated Quarterly Statements of Operations | The following sets forth certain unaudited consolidated quarterly statements of operations data for each of Teradyne’s last eight quarters. In management’s opinion, this quarterly information reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement for the periods presented. Such quarterly results are not necessarily indicative of future results of operations and should be read in conjunction with the audited consolidated financial statements of Teradyne and the notes thereto included elsewhere herein.
|  | 2012 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (1) |  |  | (2) |  |  | (3) |  |  | (4)(5)(6) |
|  | (in thousands, except per share amounts) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 330,891 |  |  | $ | 480,578 |  |  | $ | 393,037 |  |  | $ | 179,063 |
Services |  |  | 65,777 |  |  |  | 67,706 |  |  |  | 70,357 |  |  |  | 69,341 |
Total net revenues |  |  | 396,668 |  |  |  | 548,284 |  |  |  | 463,394 |  |  |  | 248,404 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of products |  |  | 174,001 |  |  |  | 206,498 |  |  |  | 169,782 |  |  |  | 92,599 |
Cost of services |  |  | 31,741 |  |  |  | 32,280 |  |  |  | 33,412 |  |  |  | 30,400 |
Total cost of revenues |  |  | 205,742 |  |  |  | 238,778 |  |  |  | 203,194 |  |  |  | 122,999 |
Gross profit |  |  | 190,926 |  |  |  | 309,506 |  |  |  | 260,200 |  |  |  | 125,405 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development |  |  | 60,135 |  |  |  | 66,532 |  |  |  | 63,055 |  |  |  | 61,660 |
Selling and administrative |  |  | 67,777 |  |  |  | 73,366 |  |  |  | 69,921 |  |  |  | 70,436 |
Acquired intangible assets amortization |  |  | 18,429 |  |  |  | 18,429 |  |  |  | 18,429 |  |  |  | 18,221 |
Restructuring and other, net |  |  | (1,825 | ) |  |  | (6,262 | ) |  |  | 683 |  |  |  | (317 | )
Total operating expenses |  |  | 144,516 |  |  |  | 152,065 |  |  |  | 152,088 |  |  |  | 150,000 |
Income (loss) from operations |  |  | 46,410 |  |  |  | 157,441 |  |  |  | 108,112 |  |  |  | (24,595 | )
Interest income |  |  | 893 |  |  |  | 874 |  |  |  | 1,067 |  |  |  | 1,256 |
Interest expense and other |  |  | (6,059 | ) |  |  | (6,323 | ) |  |  | (6,154 | ) |  |  | (6,946 | )
Income (loss) from continuing operations before income taxes |  |  | 41,244 |  |  |  | 151,992 |  |  |  | 103,025 |  |  |  | (30,285 | )
Provision (benefit) for income taxes |  |  | 7,680 |  |  |  | 40,605 |  |  |  | 14,384 |  |  |  | (13,742 | )
Income (loss) from continuing operations |  |  | 33,564 |  |  |  | 111,387 |  |  |  | 88,641 |  |  |  | (16,543 | )
Income from discontinued operations before income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
(Benefit) provision for income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) |  | $ | 33,564 |  |  | $ | 111,387 |  |  | $ | 88,641 |  |  | $ | (16,543 | )
Income (loss) per common share from continuing operations—basic |  | $ | 0.18 |  |  | $ | 0.60 |  |  | $ | 0.47 |  |  | $ | (0.09 | )
Income (loss) per common share from continuing operations—diluted |  | $ | 0.15 |  |  | $ | 0.49 |  |  | $ | 0.39 |  |  | $ | (0.09 | )
Net income (loss) per common share—basic |  | $ | 0.18 |  |  | $ | 0.60 |  |  | $ | 0.47 |  |  | $ | (0.09 | )
Net income (loss) per common share—diluted |  | $ | 0.15 |  |  | $ | 0.49 |  |  | $ | 0.39 |  |  | $ | (0.09 | )
(1) | Restructuring and other, net includes a ($1.8) million fair value adjustment to decrease the LitePoint acquisition contingent consideration.
(2) | Restructuring and other, net includes $0.3 million of severance charges related to headcount reductions of 10 people in Semiconductor Test and ($6.5) million fair value adjustment to decrease the LitePoint acquisition contingent consideration.
(3) | Restructuring and other, net includes $0.7 million of severance charges related to the headcount reductions of 9 people, of which $0.5 million and 7 people were in Systems Test Group, $0.2 million and 2 people were in Wireless Test.
(4) | Restructuring and other, net includes a ($0.4) million fair value adjustment to decrease LitePoint acquisition contingent consideration.
(5) | In the fourth quarter ended December 31, 2012, we corrected prior period income tax provision (benefit) errors that resulted in a $0.2 million income tax provision. These errors were not individually or in aggregate material to the fourth quarter of 2012 or any prior period.
(6) | In the fourth quarter ended December 31, 2012, the change in recognizing pension and postretirement benefit plans expense, as a result of the mark-to-market adjustments, decreased gross profit and net income by $8.1 million and $18.3 million, respectively. See Note B: “Accounting Policies” for a discussion of our accounting policy.
|  | 2011 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (1) |  |  | (2) |  |  | (3) |  |  | (4)(5) |
|  | (in thousands, except per share amounts) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 315,719 |  |  | $ | 341,316 |  |  | $ | 274,944 |  |  | $ | 228,212 |
Services |  |  | 61,442 |  |  |  | 69,203 |  |  |  | 69,445 |  |  |  | 68,780 |
Total net revenues |  |  | 377,161 |  |  |  | 410,519 |  |  |  | 344,389 |  |  |  | 296,992 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of products |  |  | 152,880 |  |  |  | 160,491 |  |  |  | 138,088 |  |  |  | 127,477 |
Cost of services |  |  | 31,389 |  |  |  | 35,438 |  |  |  | 35,927 |  |  |  | 35,548 |
Total cost of revenues |  |  | 184,269 |  |  |  | 195,929 |  |  |  | 174,015 |  |  |  | 163,025 |
Gross profit |  |  | 192,892 |  |  |  | 214,590 |  |  |  | 170,374 |  |  |  | 133,967 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development |  |  | 47,144 |  |  |  | 48,394 |  |  |  | 45,896 |  |  |  | 56,364 |
Selling and administrative |  |  | 57,573 |  |  |  | 58,028 |  |  |  | 54,775 |  |  |  | 64,943 |
Acquired intangible assets amortization |  |  | 7,291 |  |  |  | 7,291 |  |  |  | 6,754 |  |  |  | 19,129 |
Restructuring and other, net |  |  | 413 |  |  |  | 1,041 |  |  |  | 1,465 |  |  |  | 3,824 |
Total operating expenses |  |  | 112,421 |  |  |  | 114,754 |  |  |  | 108,890 |  |  |  | 144,260 |
Income (loss) from operations |  |  | 80,471 |  |  |  | 99,836 |  |  |  | 61,484 |  |  |  | (10,293 | )
Interest income |  |  | 1,287 |  |  |  | 1,403 |  |  |  | 3,049 |  |  |  | 878 |
Interest expense and other |  |  | (6,176 | ) |  |  | (5,316 | ) |  |  | (6,068 | ) |  |  | (6,134 | )
Income (loss) from continuing operations before taxes |  |  | 75,582 |  |  |  | 95,923 |  |  |  | 58,465 |  |  |  | (15,549 | )
Provision (benefit) for income taxes |  |  | 5,486 |  |  |  | 7,839 |  |  |  | 1,759 |  |  |  | (144,620 | )
Income from continuing operations |  |  | 70,096 |  |  |  | 88,084 |  |  |  | 56,706 |  |  |  | 129,071 |
Income (loss) from discontinued operations before income taxes |  |  | 1,278 |  |  |  | — |  |  |  | — |  |  |  | — |
Income tax provision |  |  | (267 | ) |  |  | — |  |  |  | — |  |  |  | — |
Income from discontinued operations |  |  | 1,545 |  |  |  | — |  |  |  | — |  |  |  | — |
Gain (loss) on disposal of discontinued operations (net of income tax provision of $4,578) |  |  | 25,203 |  |  |  | (832 | ) |  |  | — |  |  |  | — |
Net income |  | $ | 96,844 |  |  | $ | 87,252 |  |  | $ | 56,706 |  |  | $ | 129,071 |
Income per common share from continuing operations—basic |  | $ | 0.38 |  |  | $ | 0.48 |  |  | $ | 0.31 |  |  | $ | 0.70 |
Income per common share from continuing operations—diluted |  | $ | 0.30 |  |  | $ | 0.38 |  |  | $ | 0.26 |  |  | $ | 0.58 |
Net income per common share—basic |  | $ | 0.52 |  |  | $ | 0.47 |  |  | $ | 0.31 |  |  | $ | 0.70 |
Net income per common share—diluted |  | $ | 0.42 |  |  | $ | 0.38 |  |  | $ | 0.26 |  |  | $ | 0.58 |
(1) | Restructuring and other, net includes $0.8 million of severance charges related to headcount reductions of approximately 5 people in Semiconductor Test and $(0.4) million credit related to early exit of previously impaired leased facilities in Westford and North Reading, Massachusetts.
(2) | Restructuring and other, net includes $0.3 million of severance charges related to headcount reductions of approximately 2 people in Semiconductor Test and $0.7 million related to pension settlement charges.
(3) | Restructuring and other, net includes $1.4 million of charges related to the acquisition of LitePoint.
(4) | Restructuring and other, net includes $0.5 million of charges related to pension settlement and $3.3 million to the acquisition of LitePoint.
(5) | In the fourth quarter ended December 31, 2011, the change in recognizing pension and postretirement benefit plans expense, as a result of the mark-to-market adjustments, decreased gross profit and net income by $2.4 million and $6.1 million, respectively. See Note B: “Accounting Policies” for a discussion of our accounting policy.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 + Details
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