SEC Comment Letter for TERADYNE, INC (TER) (CIK 0000097210) (TER) — Jun 27, 2022
TERADYNE, INC (TER) (CIK 0000097210)
Date: June 27, 2022 · CIK: 0000097210 · Accession: 0000000000-22-006849
AI Filing Summary & Sentiment
File numbers found in text: 001-06462
Letter
United States securities and exchange commission logo June 27, 2022 Sanjay Mehta Chief Financial Officer TERADYNE, INC 600 Riverpark Drive North Reading, MA 01864 Re:TERADYNE, INC Form 10-K for the Fiscal Year Ended December 31, 2021 Filed February 23, 2022 File No. 001-06462 Dear Mr. Mehta: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2021 Risks Associated with Operating a Global Business We are subject to risks of operating internationally..., page 15 1.We note your discussion here and on page 26 of your April 3, 2022 Form 10-Q related to inflation that it could affect your prices, demand for your products, your profit margins. We further note your disclosure that your test and industrial automation businesses will be impacted by supply constraints, which are in turn impacted by inflation. Please update this risk factor in future filings if recent inflationary pressures have materially impacted your operations. In this regard, identify the types of inflationary pressures you are facing and how your business has been affected. 2.We note your risk factor here and throughout the filing related to supply constraints. We further note from your Form 8-K dated April 27, 2022 that you continue to encounter material constraints in most product areas and that you provide wider than normal Q2
FirstName LastNameSanjay Mehta Comapany NameTERADYNE, INC June 27, 2022 Page 2 FirstName LastName Sanjay Mehta TERADYNE, INC June 27, 2022 Page 2 guidance range reflects those supply challenges. Specify in future filings and in more detail whether these challenges have materially impacted your results of operations or capital resources and quantify, to the extent possible, how your sales, profits, and/or liquidity have been impacted. 3.Please consider including disclosures in future filings to discuss known trends or uncertainties resulting from mitigation efforts undertaken, if any, from your supply chain disruptions. Explain whether any mitigation efforts introduce new material risks, including those related to product quality, reliability, or regulatory approval of products. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Tara Harkins at (202) 551-3639 or Dan Gordon, Reviewing Accountant, at (202) 551-3486 with any questions. Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
June 27, 2022
Sanjay Mehta
Chief Financial Officer
TERADYNE, INC
600 Riverpark Drive
North Reading, MA 01864
Re:TERADYNE, INC
Form 10-K for the Fiscal Year Ended December 31, 2021
Filed February 23, 2022
File No. 001-06462
Dear Mr. Mehta:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comments. In some of our comments, we may ask you to
provide us with information so we may better understand your disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Form 10-K for the Fiscal Year Ended December 31, 2021
Risks Associated with Operating a Global Business
We are subject to risks of operating internationally..., page 15
1.We note your discussion here and on page 26 of your April 3, 2022 Form 10-Q related to
inflation that it could affect your prices, demand for your products, your profit margins.
We further note your disclosure that your test and industrial automation businesses will be
impacted by supply constraints, which are in turn impacted by inflation. Please update this
risk factor in future filings if recent inflationary pressures have materially impacted your
operations. In this regard, identify the types of inflationary pressures you are facing and
how your business has been affected.
2.We note your risk factor here and throughout the filing related to supply constraints. We
further note from your Form 8-K dated April 27, 2022 that you continue to encounter
material constraints in most product areas and that you provide wider than normal Q2
FirstName LastNameSanjay Mehta
Comapany NameTERADYNE, INC
June 27, 2022 Page 2
FirstName LastName
Sanjay Mehta
TERADYNE, INC
June 27, 2022
Page 2
guidance range reflects those supply challenges. Specify in future filings and in more
detail whether these challenges have materially impacted your results of operations or
capital resources and quantify, to the extent possible, how your sales, profits, and/or
liquidity have been impacted.
3.Please consider including disclosures in future filings to discuss known trends or
uncertainties resulting from mitigation efforts undertaken, if any, from your supply chain
disruptions. Explain whether any mitigation efforts introduce new material risks,
including those related to product quality, reliability, or regulatory approval of products.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Tara Harkins at (202) 551-3639 or Dan Gordon, Reviewing
Accountant, at (202) 551-3486 with any questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences