Teradyne Reports First Quarter 2021 Results
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GAAP to Non-GAAP Earnings Reconciliation | | | | | | | | | | | |
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| (In millions, except per share amounts) | | | | | | | | | | | |
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Quarter Ended | | | | |
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April 4, 2021 | |
% of Net Revenues | |
December 31, 2020 | |
% of Net Revenues | |
March 29, 2020 | |
% of Net Revenues |
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| Net revenues | | $ | 781.6 | | | | | $ | 759.0 | | | | | $ | 704.4 | | | |
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| Gross profit GAAP | $ | 461.6 | | | 59.1% | | $ | 449.8 | | | 59.3% | | $ | 405.6 | | | 57.6% |
| | Inventory step-up | | - | | | - | | | - | | | - | | | 0.1 | | | 0.0 % |
| Gross profit non-GAAP | $ | 461.6 | | | 59.1 % | | $ | 449.8 | | | 59.3 % | | $ | 405.7 | | | 57.6 % |
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| Income from operations - GAAP | $ | 233.0 | | | 29.8 % | | $ | 234.1 | | | 30.8 % | | $ | 206.7 | | | 29.3 % |
| | Restructuring and other (1) | | (7.1 | ) | | -0.9% | | | (15.1 | ) | | -2.0% | | | (7.6 | ) | | -1.1% |
| | Acquired intangible assets amortization | | 5.5 | | | 0.7 % | | | 5.8 | | | 0.8 % | | | 9.9 | | | 1.4 % |
| | Equity modification charge | | - | | | - | | | 0.8 | | | 0.1 % | | | - | | | - |
| | Inventory step-up | | - | | | - | | | - | | | - | | | 0.1 | | | 0.0 % |
| Income from operations - non-GAAP | $ | 231.4 | | | 29.6 % | | $ | 225.6 | | | 29.7 % | | $ | 209.1 | | | 29.7 % |
