Teradyne Trims Q1 Financial Outlook

Teradyne (TER) late yesterday reduced its guidance for its fiscal first quarter ending April 5.

For the quarter, the semiconductor test equipment company now sees sales of $115 million to $120 million, and a non-GAAP loss of 40-42 cents a share. Teradyne also said it sees second quarter sales flat with Q1.

Teradyne’s previous guidance was for sales of $125 million to $145 million, and a non-GAAP loss of 31-38 cents a share.

In a statement, CEO Mike Bradley said that “global economic conditions and consumer demand further weakened this quarter, causing our customers to reduce their test needs to unprecedented levels.” In response, the company plans to cut another $50 million in expenses; that brings total expense reductions for 2009 to $190 million. Teradyne did not specify how it would generate the additional savings.

TER this morning is down 15 cents, or 3.4%, to $4.33.