logo
New Jersey Custodian Sweeps the 2025 Cintas Custodian of the Year Contest

New Jersey Custodian Sweeps the 2025 Cintas Custodian of the Year Contest

Business Wire06-05-2025
CINCINNATI--(BUSINESS WIRE)--Congratulations to the 12 th annual Cintas Custodian of the Year contest winner, Dan Davis from Deerfield Elementary School in Short Hills, New Jersey. After thousands of votes were submitted, Cintas Corporation (Nasdaq: CTAS) has crowned Dan Davis as the 2025 grand prize winner. Dan was honored today with a surprise ceremony by students, teachers, staff and his family and was presented with a $10,000 check from Cintas.
'Too often, the hard work of custodians goes unnoticed, yet they're the unsung heroes of our facilities, keeping them clean and safe,' said Emily Ramos, Director of Marketing at Cintas. 'Dan is a valued member of his community and a role model for students. It was an honor to help celebrate his well-deserved recognition.'
Dan exemplifies what it means to go above and beyond as a school custodian. He arrives each day with a smile and positive attitude, creating a welcoming atmosphere throughout the school. His commitment is evident in how he keeps the school clean and organized, and how quickly and willingly he responds to unexpected challenges. The entire community values his reliability, attention to detail, and uplifting presence. When a staff member broke their foot, Dan didn't hesitate to lend a hand, going out of his way to help them in and out of their car. He's also a familiar and friendly face during drop-off and pick-up, always offering students a bright smile, an enthusiastic hello or a fist bump that starts their day on the right note.
'Custodians play a vital role in maintaining a safe, healthy school environment where children can learn and thrive,' said John Barrett, Executive Director of ISSA, the worldwide cleaning industry association. 'For over 100 years, ISSA has been committed to advancing the cleaning industry. The training opportunities we're providing to this year's finalists will help them build on their skills and open the door to future leadership roles.'
In addition to the $10,000 cash prize, Dan will receive $5,000 in Cintas and Rubbermaid Commercial Products and services for his school. His school also receives a comprehensive facility assessment, valued at $20,000, in partnership with the ISSA Global Consulting Network. Cintas will also award the winning school a pizza party for all staff and students. Dan, along with the two other top three finalists, will receive an all-expense-paid trip for two to the ISSA Show North America in Las Vegas in November, where they'll be celebrated for their accomplishments.
'Dan Davis is extremely deserving of this title, and we are honored to be a part of recognizing his hard work,' added Robert Posthauer, SVP & GM, Rubbermaid Commercial Products.
For more information about the Cintas Custodian of the Year contest, visit custodianoftheyear.com
About Cintas Corporation:
Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday ®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index.
About ISSA:
With more than 10,500 members – including distributors, manufacturers, manufacturer representatives, wholesalers, building service contractors, in-house service providers, residential cleaners, and associated service members – ISSA is the world's leading trade association for the cleaning industry. The association is committed to changing the way the world views cleaning by providing its members with the business tools they need to promote cleaning as an investment in human health, the environment, and an improved bottom line. Headquartered in Rosemont, Ill., USA, the association has regional offices in Milan, Italy; Toronto, Canada; Sydney, Australia; Seoul, South Korea; and Shanghai, China. For more information about ISSA, visit www.issa.com or call 800-225-4772 (North America) or 847-982-0800.
About Rubbermaid Commercial Products:
Headquartered in Huntersville, North Carolina, Rubbermaid Commercial Products (RCP) is a manufacturer of innovative, solution-based products for commercial and institutional markets worldwide. Since 1968, RCP has pioneered technologies and system solutions in the categories of waste handling, material transport, cleaning, safety, washroom, and foodservice. RCP is one of the many industry-leading brands within the Newell Brands global portfolio. More information can be found at www.rubbermaidcommercial.com or on Facebook, Instagram, LinkedIn, X, and YouTube.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Luminar Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Luminar Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Business Wire

time12 minutes ago

  • Business Wire

Luminar Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

ORLANDO, Fla.--(BUSINESS WIRE)--As required by the rules of the Nasdaq Stock Market, Luminar Technologies, Inc. (NASDAQ: LAZR), a leading global automotive technology company ('Luminar'), today announced that it will grant a total of 2,109,546 equity awards, consisting of 1,289,167 restricted stock units ('RSUs') and up to 820,379 performance stock units ('PSUs'), to Paul Ricci, Luminar's recently appointed Chief Executive Officer, as an inducement material to his acceptance of employment with Luminar. The employment inducement awards are being granted under Luminar's forms of restricted stock unit award agreement in accordance with Nasdaq Listing Rule 5635(c)(4). The 820,379 RSUs are subject to time-based vesting in equal installments on a semi-annual basis over a three-year period following the employment start date, subject to the executive's continued service with the Company through each vesting date. The remaining 468,788 RSUs are fully vested on the date of grant, and subject to clawback by Luminar if within 12 months following the employment start date, the Company terminates the executive's employment for 'cause' or he resigns without 'good reason.' The up to 820,379 PSUs are eligible to vest as to one-third of the award based on achievement of each of three performance goals, as set by the Compensation and Human Capital Management Committee of Luminar's Board of Directors, which require Company market capitalization appreciation over a trailing 90-day period subject to the executive's continued service with the Company through the date of certification of such achievement. Upon a termination of Mr. Ricci's employment by Luminar without 'cause' or his resignation for 'good reason,' including in connection with a change in control, any then-unvested RSUs and PSUs will be subject to certain accelerated vesting provisions. The equity awards are being granted to Mr. Ricci pursuant to the terms of his employment agreement, dated May 26, 2025. The awards are being granted outside of Luminar's Amended and Restated 2020 Equity Incentive Plan, but except as set forth in the applicable award agreement, will generally be subject to the same terms and conditions as apply to the applicable awards granted under the Amended and Restated 2020 Equity Incentive Plan. The Compensation and Human Capital Management Committee of Luminar's Board of Directors approved the employment inducement awards in reliance on the employment inducement exception to shareholder approval provided under Nasdaq Listing Rule 5635(c)(4). To comply with the terms of this exemption, the employment inducement awards require an immediate public announcement of the award and written notice to the Nasdaq Stock Market. About Luminar Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world's most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit

Teradyne Reports Second Quarter 2025 Results
Teradyne Reports Second Quarter 2025 Results

Business Wire

time12 minutes ago

  • Business Wire

Teradyne Reports Second Quarter 2025 Results

NORTH READING, Mass.--(BUSINESS WIRE)--Teradyne, Inc. (NASDAQ:TER): Teradyne, Inc. (NASDAQ: TER) reported revenue of $652 million for the second quarter of 2025 of which $492 million was in Semiconductor Test, $75 million in Robotics, and $85 million in Product Test. GAAP net income for the second quarter of 2025 was $78.4 million, or $0.49 per diluted share. On a non-GAAP basis, Teradyne's net income for the second quarter of 2025 was $91.6 million, or $0.57 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and included the related tax impact on non-GAAP adjustment. 'Our Semiconductor Test Group drove better than expected results in the second quarter. System-on-a-Chip (SOC), primarily for artificial intelligence applications, was the strongest growth driver,' said Teradyne CEO, Greg Smith. 'Visibility into the remainder of the year has improved, and demand in compute, networking and memory is strengthening. The exact timing of program ramps and capacity adds remain uncertain, but we believe that AI will drive strong second half performance for Teradyne." Guidance for the third quarter of 2025 is revenue of $710 million to $770 million, with GAAP net income of $0.62 to $0.80 per diluted share and non-GAAP net income of $0.69 to $0.87 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization and amortization on our investment in Technoprobe, as well as the related tax impact on non-GAAP adjustments. Webcast A conference call to discuss the second quarter results, along with management's business outlook, will follow at 8:30 a.m. ET, July 30, 2025. Interested investors should access the webcast at and click on "Investors" at least five minutes before the call begins. Presentation materials will be available starting at 7:30 a.m. ET. A replay will be available on the Teradyne website at Non-GAAP Results In addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP results of operations that exclude certain income items and charges. These results are provided as a complement to results provided in accordance with GAAP. Non-GAAP income from operations and non-GAAP net income exclude acquired intangible assets amortization, restructuring and other, ERP related expenses, inventory step-up, pension mark-to-market adjustment, discrete income tax adjustments, and includes the related tax impact on non-GAAP adjustments. GAAP requires that these items be included in determining income from operations and net income. Non-GAAP income from operations, non-GAAP net income, non-GAAP income from operations as a percentage of revenue, non-GAAP net income as a percentage of revenue, and non-GAAP net income per share are non-GAAP performance measures presented to provide meaningful supplemental information regarding Teradyne's baseline performance before gains, losses or other charges that may not be indicative of Teradyne's current core business or future outlook. These non-GAAP performance measures are used to make operational decisions, to determine employee compensation, to forecast future operational results, and for comparison with Teradyne's business plan, historical operating results and the operating results of Teradyne's competitors. Non-GAAP diluted shares include the impact of Teradyne's call option on its shares. Management believes each of these non-GAAP performance measures provides useful supplemental information for investors, allowing greater transparency to the information used by management in its operational decision making and in the review of Teradyne's financial and operational performance, as well as facilitating meaningful comparisons of Teradyne's results in the current period compared with those in prior and future periods. A reconciliation of each available GAAP to non-GAAP financial measure discussed in this press release is contained in the attached exhibits and on the Teradyne website at by clicking on 'Investor Relations' and then selecting 'Financials' and the 'GAAP to Non-GAAP Reconciliation' link. The non-GAAP performance measures discussed in this press release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP. About Teradyne Teradyne (NASDAQ:TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne's customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit Teradyne ® is a registered trademark of Teradyne, Inc., in the U.S. and other countries. Safe Harbor Statement This release contains forward-looking statements including statements regarding Teradyne's future business prospects, financial performance or position and results of operations. You can identify forward-looking statements by their use of forward-looking words such as 'anticipate,' 'expect,' 'plan,' 'could,' 'may,' 'will,' 'believe,' 'estimate,' 'goal' or other comparable terms. Forward-looking statements in this press release address various matters, including statements regarding Teradyne's financial guidance. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions, and other factors. Such factors include, but are not limited to, macroeconomic factors and slowdowns or downturns in economic conditions generally and in the markets in which Teradyne operates; decreased or delayed product demand from one or more significant customers; a slowdown or inability in the development, delivery and acceptance of new products; the ability to grow the Robotics business; the impact of increased research and development spending; the impact of epidemics or pandemics such as COVID-19; the impact of a supply shortage on our supply chain and contract manufacturers; the consummation and success of any mergers or acquisitions; unexpected cash needs; the business judgment of the board of directors that a declaration of a dividend or the repurchase of common stock is not in Teradyne's best interests; changes to U.S. or global tax regulations or guidance; the impact of any tariffs or export controls imposed by the U.S. or China; the impact of U.S. Department of Commerce or other government agency regulations relating to Huawei, HiSilicon and other customers or potential customers; the impact of U.S. Department Commerce export control regulations for certain U.S. products and technology sold to military end users or for military end-use in China; the impact of the current conflicts in Israel; the impact of regulations published by the U.S. Department of Commerce relating to semiconductors and semiconductor manufacturing equipment destined for certain end uses in China. The risks included above are not exhaustive. For a more detailed description of the risk factors associated with Teradyne, please refer to Teradyne's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Many of these factors are macroeconomic in nature and are, therefore, beyond Teradyne's control. We caution readers not to place undue reliance on any forward-looking statements included in this press release which speak only as to the date of this press release. Teradyne specifically disclaims any obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. (1) Cost of revenues includes: Expand Quarter Ended Six Months Ended June 29, 2025 March 30, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Provision for excess and obsolete inventory $ 7,402 $ 4,945 $ 3,261 $ 12,347 $ 9,438 Inventory step-up 343 216 — 560 — Sale of previously written down inventory (1,105 ) (324 ) (592 ) (1,429 ) (1,314 ) $ 6,640 $ 4,837 $ 2,669 $ 11,478 $ 8,124 Expand (2) For the quarters ended June 29, 2025, and March 31, 2025, selling and administrative expenses included $1.1 million and $0.7 million, respectively, of expenses directly related to a planned ERP system implementation. For the six months ended June 29, 2025, selling and administrative expenses included $1.8 million of expenses directly related to a planned ERP system implementation. For the six months ended June 30, 2024, selling and administrative expenses included an equity charge of $1.7 million for the modification of Teradyne executives' retirement agreements. Expand Quarter Ended Six Months Ended June 29, 2025 March 30, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Employee severance (a) $ 2,320 $ 11,395 $ 2,012 $ 13,715 $ 4,038 Lease terminations 72 1,142 — 1,214 — Acquisition and divestiture related expenses (422 ) 1,972 — 1,550 2,214 Other 402 6 — 408 187 $ 2,372 $ 14,515 $ 2,012 $ 16,887 $ 6,440 Expand (a) For the three months ended March 30, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (4) On May 27, 2024, Teradyne sold Teradyne's Device Interface Solution ("DIS") business, a component of the Semiconductor Test segment, to Technoprobe S.p.A. ("Technoprobe"), for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (5) Interest and other includes: Expand (6) Under GAAP, when calculating diluted earnings per share, convertible debt must be assumed to have converted if the effect on EPS would be dilutive. Diluted shares assume the conversion of the convertible debt as the effect would be dilutive. Accordingly, for the quarter ended June 30, 2024, diluted shares included 4.9 million shares from the convertible note hedge transaction. For the six months ended June 30, 2024, diluted shares included 6.9 million shares from the convertible note hedge transaction. Expand CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) December 31, 2024 Assets Cash and cash equivalents $ 339,252 $ 553,354 Marketable securities 28,638 46,312 Accounts receivable, net 433,001 471,426 Inventories, net 350,505 298,492 Prepayments 412,981 429,086 Other current assets 19,230 17,727 Total current assets 1,583,607 1,816,397 Property, plant and equipment, net 559,813 508,171 Operating lease right-of-use assets, net 67,407 70,185 Marketable securities 120,684 124,121 Deferred tax assets 239,809 222,438 Retirement plans assets 11,922 11,994 Equity method investment 545,414 494,494 Other assets 54,503 49,620 Acquired intangible assets, net 58,233 15,927 Goodwill 520,470 395,367 Total assets $ 3,761,862 $ 3,708,714 Liabilities Accounts payable $ 172,025 $ 134,792 Accrued employees' compensation and withholdings 176,482 204,991 Deferred revenue and customer advances 123,989 107,710 Other accrued liabilities 110,143 90,777 Operating lease liabilities 19,770 18,699 Income taxes payable 72,856 67,610 Total current liabilities 675,265 624,579 Retirement plans liabilities 139,249 133,338 Long-term deferred revenue and customer advances 40,414 40,505 Deferred tax liabilities 6,756 1,038 Long-term other accrued liabilities 8,186 7,442 Long-term operating lease liabilities 54,691 57,922 Long-term income taxes payable — 24,596 Total liabilities 924,561 889,420 Shareholders' equity 2,837,301 2,819,294 Total liabilities and shareholders' equity $ 3,761,862 $ 3,708,714 Expand CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Quarter Ended Six Months Ended Net income $ 78,372 $ 186,273 $ 177,269 $ 250,470 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 27,312 25,573 52,835 48,927 Stock-based compensation 16,827 14,935 32,031 30,693 Equity in net earnings of affiliate 5,927 — 11,511 — Amortization 4,077 4,631 8,856 9,397 Provision for excess and obsolete inventory 7,402 3,261 12,347 9,438 Losses (gains) on investments (4,450 ) 2,624 (1,078 ) 13,090 Loss (gain) on sale of business — (57,486 ) — (57,486 ) Deferred taxes (7,187 ) (7,161 ) (14,998 ) (16,830 ) Retirement plan actuarial losses (gains) 127 (250 ) 127 (250 ) Other (317 ) 453 3,168 1,240 Changes in operating assets and liabilities, net of businesses acquired: Accounts receivable 36,443 (46,156 ) 49,496 (54,211 ) Inventories 7,342 24,034 (23,707 ) 17,102 Prepayments and other assets 17,230 11,101 30,879 22,190 Accounts payable and other liabilities 27,085 52,539 17,135 (53,009 ) Deferred revenue and customer advances 2,857 4,183 13,056 2,739 Retirement plans contributions (4,294 ) (1,353 ) (5,576 ) (2,774 ) Income taxes (32,665 ) (1,132 ) (19,625 ) 2,622 Net cash provided by operating activities 182,088 216,069 343,726 223,348 Cash flows from investing activities: Purchases of property, plant and equipment (50,408 ) (44,846 ) (114,429 ) (88,869 ) Investments in businesses (2,357 ) (524,653 ) (5,368 ) (524,653 ) Purchases of marketable securities (6,396 ) (11,715 ) (17,150 ) (27,757 ) Acquisitions of businesses, net of cash and cash equivalents (127,378 ) — (144,380 ) — Proceeds from the sale of a business, net of cash and cash equivalents sold — 87,172 — 87,172 Proceeds from maturities of marketable securities 5,223 12,420 32,603 26,858 Proceeds from sales of marketable securities 2,854 555 8,487 21,289 Proceeds from life insurance — — — 873 Net cash used for investing activities (178,462 ) (481,067 ) (240,237 ) (505,087 ) Cash flows from financing activities: Payments of borrowings on revolving credit facility — (185,000 ) — (185,000 ) Dividend payments (19,177 ) (19,000 ) (38,584 ) (37,370 ) Repurchase of common stock (117,398 ) (8,189 ) (274,873 ) (30,306 ) Payments related to net settlement of employee stock compensation awards (229 ) (319 ) (14,954 ) (13,434 ) Proceeds from borrowings on revolving credit facility — 185,000 — 185,000 Issuance of common stock under stock purchase and stock option plans — 4,902 14,792 21,836 Net cash used for financing activities (136,804 ) (22,606 ) (313,619 ) (59,274 ) Effects of exchange rate changes on cash and cash equivalents (3,202 ) 2,105 (3,972 ) 5,346 Decrease in cash and cash equivalents (136,380 ) (285,499 ) (214,102 ) (335,667 ) Cash and cash equivalents at beginning of period 475,632 707,403 553,354 757,571 Cash and cash equivalents at end of period $ 339,252 $ 421,904 $ 339,252 $ 421,904 Expand GAAP to Non-GAAP Earnings Reconciliation (In millions, except per share amounts) Quarter Ended June 29, 2025 % of Net Revenues March 30, 2025 % of Net Revenues June 30, 2024 % of Net Revenues Net revenues $ 651.8 $ 685.7 $ 729.9 Gross profit GAAP 373.0 57.2 % 415.3 60.6 % 425.8 58.3 % Inventory step-up 0.3 0.0 % 0.2 0.0 % — — Gross profit non-GAAP 373.3 57.3 % 415.5 60.6 % 425.8 58.3 % Income from operations - GAAP 90.7 13.9 % 120.8 17.6 % 210.4 28.8 % Acquired intangible assets amortization 3.7 0.6 % 4.6 0.7 % 4.7 0.6 % Restructuring and other (1) 2.4 0.4 % 14.5 2.1 % 2.0 0.3 % ERP related expenses (2) 1.1 0.2 % 0.7 0.1 % — — Inventory step-up 0.3 0.0 % 0.2 0.0 % — — Loss (gain) on sale of business (3) — — — — (57.5 ) -7.9 % Income from operations - non-GAAP $ 98.2 15.1 % $ 140.8 20.5 % $ 159.6 21.9 % Expand Net Income per Common Share Net Income per Common Share Net Income per Common Share June 29, 2025 % of Net Revenues Basic Diluted March 30, 2025 % of Net Revenues Basic Diluted June 30, 2024 % of Net Revenues Basic Diluted Net income - GAAP $ 78.4 12.0 % $ 0.49 $ 0.49 $ 98.9 14.4 % $ 0.61 $ 0.61 $ 186.3 25.5 % $ 1.18 $ 1.14 Amortization of equity method investment 7.4 1.1 % 0.05 0.05 7.4 1.1 % 0.05 0.05 — — — — Acquired intangible assets amortization 3.7 0.6 % 0.02 0.02 4.6 0.7 % 0.03 0.03 4.7 0.6 % 0.03 0.03 Restructuring and other (1) 2.4 0.4 % 0.02 0.01 14.5 2.1 % 0.09 0.09 2.0 0.3 % 0.01 0.01 ERP related expenses (2) 1.1 0.2 % 0.01 0.01 0.7 0.1 % 0.00 0.00 — — — — Inventory step-up 0.3 0.0 % 0.00 0.00 0.2 0.0 % 0.00 0.00 — — — — Pension mark-to-market adjustment (4) 0.1 0.0 % 0.00 0.00 — — — — (0.3 ) 0.0 % (0.00 ) (0.00 ) Loss (gain) on sale of business (3) — — — — — — — — (57.5 ) -7.9 % (0.36 ) (0.35 ) Loss (gain) on foreign exchange contract — — — — (0.6 ) -0.1 % (0.00 ) (0.00 ) (4.2 ) -0.6 % (0.03 ) (0.03 ) Exclude discrete tax adjustments 0.0 0.0 % 0.00 0.00 0.9 0.1 % 0.01 0.01 10.5 1.4 % 0.07 0.06 Non-GAAP tax adjustments (1.8 ) -0.3 % (0.01 ) (0.01 ) (5.1 ) -0.7 % (0.03 ) (0.03 ) (1.5 ) -0.2 % (0.01 ) (0.01 ) Net income - non-GAAP $ 91.6 14.1 % $ 0.57 $ 0.57 $ 121.5 17.7 % $ 0.75 $ 0.75 $ 140.0 19.2 % $ 0.89 $ 0.86 GAAP and non-GAAP weighted average common shares - basic 160.0 161.5 157.8 GAAP and non-GAAP weighted average common shares - diluted (5) 160.1 162.0 163.5 Expand (1) Restructuring and other consists of: Expand Quarter Ended June 29, 2025 March 30, 2025 June 30, 2024 Employee severance (a) $ 2.3 $ 11.4 $ 2.0 Lease terminations 0.1 2.0 — Acquisition and divestiture related expenses (0.4 ) 1.1 — Other 0.4 — — $ 2.4 $ 14.5 $ 2.0 Expand (a) For the quarter ended March 30, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (2) For the quarters ended June 29, 2025, and March 30, 2025, selling and administrative expenses included costs directly related to a planned ERP system implementation. (3) On May 27, 2024, Teradyne sold DIS, a component of the Semiconductor Test segment, to Technoprobe, for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (4) For the quarters ended June 29, 2025, and June 30, 2024, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne's mark-to-market pension accounting. (5) For the quarters ended June 30, 2024, non-GAAP weighted average diluted common shares included 4.9 million shares from the convertible note hedge transaction. Expand Six Months Ended June 29, 2025 % of Net Revenues June 30, 2024 % of Net Revenues Net Revenues $ 1,337.5 $ 1,329.7 Gross profit GAAP 788.3 58.9 % 765.1 57.5 % Inventory step-up 0.6 0.0 % — — Gross profit non-GAAP 788.9 59.0 % 765.1 57.5 % Income from operations - GAAP 211.5 15.8 % 288.1 21.7 % Restructuring and other (1) 16.9 1.3 % 6.4 0.5 % Acquired intangible assets amortization 8.3 0.6 % 9.4 0.7 % ERP related expenses (2) 1.8 0.1 % — — Inventory step-up 0.6 0.0 % — — Equity modification charge (3) — — 1.7 0.1 % Loss (gain) on sale of business (4) — — (57.5 ) -4.3 % Income from operations - non-GAAP $ 239.1 17.9 % $ 248.1 18.7 % Expand Net Income per Common Share Net Income per Common Share June 29, 2025 % of Net Revenues Basic Diluted June 30, 2024 % of Net Revenues Basic Diluted Net income - GAAP $ 177.3 13.3 % $ 1.10 $ 1.10 $ 250.5 18.8 % $ 1.61 $ 1.54 Restructuring and other (1) 16.9 1.3 % 0.11 0.10 6.4 0.5 % 0.04 0.04 Amortization of equity method investment 14.8 1.1 % 0.09 0.09 — — — — Acquired intangible assets amortization 8.3 0.6 % 0.05 0.05 9.4 0.7 % 0.06 0.06 ERP related expenses (2) 1.8 0.1 % 0.01 0.01 — — — — Inventory step-up 0.6 0.0 % 0.00 0.00 — — — — Pension mark-to-market adjustment (5) 0.1 0.0 % 0.00 0.00 (0.3 ) 0.0 % (0.00 ) (0.00 ) Loss (gain) on foreign exchange contract (0.6 ) 0.0 % (0.00 ) (0.00 ) 9.8 0.7 % 0.06 0.06 Equity modification charge (3) — — — — 1.7 0.1 % 0.01 0.01 Loss (gain) on sale of business (4) — — — — (57.5 ) -4.3 % (0.37 ) (0.35 ) Exclude discrete tax adjustments 0.9 0.1 % 0.01 0.01 8.2 0.6 % 0.05 0.05 Non-GAAP tax adjustments (6.9 ) -0.5 % (0.04 ) (0.04 ) (5.7 ) -0.4 % (0.04 ) (0.03 ) Net income - non-GAAP $ 213.2 15.9 % $ 1.33 $ 1.32 $ 222.6 16.7 % $ 1.43 $ 1.37 GAAP and non-GAAP weighted average common shares - basic 160.7 155.4 GAAP weighted average common shares - diluted (6) 161.1 162.9 Expand (1) Restructuring and other consists of: Expand Six Months Ended June 29, 2025 June 30, 2024 Employee severance (a) $ 13.7 $ 4.0 Acquisition and divestiture related expenses 1.6 2.2 Lease terminations 1.2 — Other 0.4 0.2 $ 16.9 $ 6.4 Expand (a) For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (2) For the six months ended June 29, 2025, selling and administrative expenses included costs directly related to a planned ERP system implementation. (3) For the six months ended June 30, 2024, selling and administrative expenses included an equity charge of $1.7 million for the modification of Teradyne's executives' retirement agreements. (4) On May 27, 2024, Teradyne sold DIS, a component of the Semiconductor Test segment, to Technoprobe, for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (5) For the six months ended June 29, 2025, and June 30, 2024, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne's mark-to-market pension accounting. (6) For the six months ended June 30, 2024, non-GAAP weighted average diluted common shares included 6.9 million shares from the convertible note hedge transaction. Expand GAAP to Non-GAAP Reconciliation of Third Quarter 2025 guidance: Expand For press releases and other information of interest to investors, please visit Teradyne's homepage at

SoFi Technologies, Inc. Announces Public Offering of Common Stock
SoFi Technologies, Inc. Announces Public Offering of Common Stock

Business Wire

time12 minutes ago

  • Business Wire

SoFi Technologies, Inc. Announces Public Offering of Common Stock

SAN FRANCISCO--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI) ('SoFi' or the 'Company') today announced an underwritten public offering of $1.5 billion of shares of its common stock. In connection with the offering, SoFi expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the offering. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities. Goldman Sachs & Co. LLC ('Goldman') will act as the underwriter in the offering. An automatic shelf registration statement on Form S-3 (Registration No. 333-289046) (including a base prospectus) became effective upon filing with the Securities and Exchange Commission on July 29, 2025. The offering will be made only by means of a preliminary prospectus supplement and a final prospectus supplement (together, the 'prospectus supplement') and an accompanying base prospectus. Before investing, prospective investors should read the preliminary prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the offering. You may get these documents, including the prospectus supplement, for free by visiting EDGAR on the SEC website at Copies of the prospectus supplement, when available, and the accompanying prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526 or via email: prospectus-ny@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About SoFi SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 11.7 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi's technology platform Galileo to build and manage innovative financial solutions across 160 million global accounts. ©2025 SoFi Technologies, Inc. All rights reserved. SOFI-F Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements represent SoFi's current expectations regarding future events, including the proposed offering of shares of common stock, and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and there can be no assurance that future developments affecting SoFi will be those that it has anticipated. Among those risks and uncertainties are market conditions and competition, including market interest rates, SoFi's ability to satisfy evolving member and technology platform client preferences or to keep pace with market trends, and risks relating to SoFi's business, including those described in periodic reports that SoFi files from time to time with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and SoFi does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store