TERADYNE, INC

Teradyne, Inc. is a Massachusetts corporation founded in 1960 that designs, develops, manufactures, and sells automated test equipment and robotics solutions. The company's business strategy focuses on profitably gaining market share in its test businesses through differentiated products and accelerating growth in its Robotics segment. Teradyne's business segments include Semiconductor Test, System Test (Storage Test, Defense/Aerospace, and Production Board Test), Wireless Test, and Robotics (Universal Robots and Mobile Industrial Robots). The company's website is www.teradyne.com, and its ticker symbol is TER. Teradyne's Semiconductor Test business provides test systems and services for wafer level and device package testing of semiconductor devices used in various industries such as automotive, industrial, communications, consumer electronics, and computing. The company's test systems help improve product quality, measure and improve product performance, reduce time to market, and increase production yields. The System Test segment includes Storage Test, Defense/Aerospace, and Production Board Test business units. The Storage Test business addresses the high throughput, automated manufacturing test requirements of hard disk drive and semiconductor manufacturers. The Defense/Aerospace business provides high performance test systems, subsystems, instruments, and service for the defense and aerospace markets. The Production Board Test business offers test systems for In-Circuit-Test and device programming of printed circuit board assemblies. The Wireless Test segment provides wireless test solutions for silicon validation, wireless module manufacturing, and wireless end device manufacturing. The segment serves the connectivity, cellular, and secure ranging wireless segments with multiple product families. The Robotics segment includes Universal Robots and Mobile Industrial Robots. Universal Robots is a leading provider of collaborative robots used across various industries, including automotive, food & beverage, metal & machining, electronics, pharmaceutical, and education. Mobile Industrial Robots is a leading provider of autonomous mobile robots for the manufacturing and logistics segments. Teradyne sells its products through a direct sales force and distributors. The company's manufacturing activities for its test businesses are primarily conducted through subcontractors and outsourced contract manufacturers, while the manufacturing activities for its Robotics businesses are done primarily in its production facilities in Denmark and the U.S. Sales to customers outside the United States accounted for approximately 89% of the company's consolidated revenues in 2021. Competitors in each of Teradyne's reportable segments include Advantest Corporation, Cohu, Inc., Keysight Technologies, Inc., Test Research, Inc., SPEA S.p.A., Astronics Corporation, Rohde & Schwarz GmbH & Co. KG, Anritsu Company, National Instruments Corporation, Welzek, iTest, KUKA Robotics Corporation, ABB, FANUC, Staubli, Yaskawa Electric Corporation, Techman, Doosan, Jaka, AUBO Robotics, Omron, Rockwell Automation, Junion, HikRobot, Agilox, and KION. Teradyne's backlog of unfilled orders in its four reportable segments was $1,124.6 million at December 31, 2023, and $1,235.2 million at December 31, 2022. Customers may delay delivery of products or cancel orders suddenly and without notice, which could have a material adverse effect on the company's business, financial condition, or results of operations. The company has experienced delays in obtaining timely delivery of certain components, which have impacted and may continue to impact the manufacturing of certain products and the timing of delivery to customers. Teradyne protects its intellectual property through various methods, including patents, copyrights, trademarks, trade secrets, technology license agreements, software license agreements, non-disclosure agreements, employment agreements, and other agreements. The company employs approximately 6,500 employees, of whom approximately 2,000 were employed in the United States and approximately 4,500 were employed outside of the United States as of December 31, 2023. Teradyne's primary objective is to provide a compensation and benefits package that attracts, retains, motivates, and rewards high performing employees in a highly competitive and technologically challenging environment. The company offers benefits designed to meet the needs of employees and their families worldwide, including paid time off, parental leave, bereavement leave, health insurance coverage, flexible work arrangements, contributions to retirement savings, and access to employee assistance and work-life programs. Teradyne provides continual development to its employees focused on developing their job skills and competencies and offers educational reimbursement programs for employees and their families. The company conducts regular employee surveys to obtain input on various topics and offers opportunities for employees to network and connect with colleagues who share similar interests.