Tektronix Announces Earnings

Tektronix today reported net sales of $188.3 million and net earnings from continuing operations of $0.9 million for the third quarter ended March 1, 2003. This is less than the same period a year ago, yet the firm remains bullish about its coming prospects.

"During the quarter, we saw stronger demand in Europe, Asia-Pacific and Japan. We continued to build on our success in China,highlighted by key customer wins in the mobile protocol test area and partnerships with key government agencies," sats Rick Wills, Tektronix chairman and CEO. "However, we saw softer demand in the United States across most product lines resulting from caution caused by geopolitical uncertainty and the continued sluggishness of our underlying markets."

The company made some progress on improving its gross margins and integrating a Japan acquisition. For the fourth quarter of fiscal 2003, the company expects sales to be down approximately 5 percent, compared with the same period a year ago. During this past quarter, the company introduced a new video and audio confidence monitoring system, the WVR600 Series Rasterizer, which combines video and audio monitoring in an advanced, easy-to-use, digital architecture packaged in a single rack unit.