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.


	2015
	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
				(3)			(4)			(1)(2)
	(in thousands, except per share amounts)
Revenues:
Products	$	272,325		$	437,243		$	386,488		$	244,510
Services		70,076			75,496			79,506			73,934

Total revenues		342,401			512,739			465,994			318,444
Cost of revenues:
Cost of products		118,996			181,491			170,963			120,322
Cost of services		30,982			32,680			36,405			32,096

Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below)		149,978			214,171			207,368			152,418

Gross profit		192,423			298,568			258,626			166,026

Operating expenses:
Engineering and development		71,450			75,832			74,027			70,941
Selling and administrative		72,041			77,073			77,481			79,718
Acquired intangible assets amortization		13,808			15,258			20,053			19,911
Restructuring and other		—			(385	)		261			5,204

Total operating expenses		157,299			167,778			171,822			175,774

Income (loss) from operations		35,124			130,790			86,804			(9,748	)
Non-operating (income) expense:
Interest income		(1,816	)		(1,674	)		(1,708	)		(2,017	)
Interest expense		162			444			508			762
Other (income) expense, net		(5,660	)		(116	)		596			364

Income (loss) before income taxes		42,438			132,136			87,408			(8,857	)
Income tax provision (benefit)		9,651			29,257			15,955			(8,216	)

Net income (loss)	$	32,787		$	102,879		$	71,453		$	(641	)

Net income (loss) per common share—basic	$	0.15		$	0.48		$	0.34		$	(0.00	)

Net income (loss) per common share—diluted	$	0.15		$	0.48		$	0.34		$	(0.00	)

Cash dividend declared per common share	$	0.06		$	0.06		$	0.06		$	0.06

(1)	Restructuring and other includes a $5.3 million fair value adjustment to increase the Universal Robots acquisition contingent consideration, and a $(0.3) million fair value adjustment to decrease the AIT acquisition contingent consideration.

(2)	In the fourth quarter ended December 31, 2015, Teradyne recorded pension and post retirement net actuarial losses of $17.7 million. See Note B: “Accounting Policies” for a discussion of our accounting policy.

(3)	Restructuring and other includes a $(1.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.

(4)	Restructuring and other includes a $(1.0) million fair value adjustment to decrease the AIT acquisition contingent consideration.


	2014
	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
				(1)			(1)(2)			(1)(3)(4)
	(in thousands, except per share amounts)
Revenues:
Products	$	255,386		$	452,488		$	402,987		$	253,162
Services		65,624			73,079			75,023			70,074

Total revenues		321,010			525,567			478,010			323,236
Cost of revenues:
Cost of products		124,448			202,411			182,591			131,337
Cost of services		29,515			32,743			34,298			31,673

Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below)		153,963			235,154			216,889			163,010

Gross profit		167,047			290,413			261,121			160,226

Operating expenses:
Engineering and development		67,085			73,414			71,953			79,188
Selling and administrative		78,003			77,489			73,064			91,157
Goodwill impairment		—			—			—			98,897
Acquired intangible assets amortization		18,271			18,271			18,271			15,957
Restructuring and other		—			572			(405	)		1,198

Total operating expenses		163,359			169,746			162,883			286,397

Income (loss) from operations		3,688			120,667			98,238			(126,171	)
Non-operating (income) expense:
Interest income		(1,036	)		(1,266	)		(1,922	)		(2,035	)
Interest expense		6,417			159			144			214
Other (income) expense, net		180			382			(654	)		463

(Loss) income before income taxes		(1,873	)		121,392			100,670			(124,813	)
Income tax (benefit) provision		(2,802	)		20,187			17,721			(21,002	)

Net income (loss)	$	929		$	101,205		$	82,949		$	(103,811	)

Net income (loss) per common share—basic	$	0.00		$	0.52		$	0.40		$	(0.48	)

Net income (loss) per common share—diluted	$	0.00		$	0.47		$	0.38		$	(0.48	)

Cash dividend declared per common share	$	0.00		$	0.06		$	0.06		$	0.06

(1)	Dividends declared by Teradyne’s Board of Directors were paid in the second, third and fourth quarters of 2014.

(2)	Restructuring and other includes a $(0.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.

(3)	In the fourth quarter ended December 31, 2014, Teradyne recorded pension and post retirement net actuarial losses of $46.6 million. See Note B: “Accounting Policies” for a discussion of our accounting policy.

(4)	In the fourth quarter ended December 31, 2014, Teradyne recorded a goodwill impairment charge of $98.9 million in its Wireless Test segment.