RTTNews | Jan 27, 2022 12:11PM EST

12:10 Thursday, January 27, 2022 (RTTNews.com) - Shares of Teradyne, Inc. (TER) are slipping over 25% on Thursday morning hurt largely by weak outlook for the first quarter.

TER is currently trading at $105.38, down $37.99 or 26.50%, on the Nasdaq.

Looking forward to the first quarter, the company expects revenues of $700 million to $770 million and adjusted earnings of $0.76 to $0.98 per share. Analysts currently expect earnings of $1.30 per share on revenues of $875.42 million.

For the fourth quarter, the company reported profit of $230.28 million or $1.29 per share, up from $196.33 million or $1.05 per share last year. Adjusted earnings were $238.4 million or $1.37 per share for the period. Analysts had expected earnings of $1.29 per share.

Revenues for the quarter rose 16.6% to $885.05 million from $758.97 million last year.

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