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Testing equipment powerhouse Teradyne Inc. posted revenue for the second quarter of $455 million, a massive 168 percent jump from the $169.6 million the North Reading company posted in the same time frame in 2009.
The bulk of Teradyne’s Q2 revenue -- $413 million -- came from the Semiconductor Test Group, and $42 million came from the Systems Test Group, according to officials. That led Teradyne (NYSE: TER) to a profit of $122 million for Q2 2010, rocketing above the $66.8 million loss the company reported for the second quarter of 2009 when the semiconductor sector was feeling the pain of the recession.
According to Mike Bradley, Teradyne president and CEO, that Q2 numbers represent the “highest earnings in a decade” for the company.
In March of 2009, Teradyne offered $150 million worth of convertible notes in an effort to raise capital in an effort to terminate its senior secured credit facility, and for general corporate purposes.
Founded in 1960, Teradyne employs more than 3,600 people.
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