(RTTNews) - Teradyne Inc. (TER) is dropping during pre-m,arket trading on Thursday following the release of quarterly results that failed to meet analysts' expectations.

At 9:09 am ET the stock is trading at $9.34 down $1.16 from Wednesday's close.

With the decline, the stock will open below recent support and at its lowest level in six months.

The company reported net income for the quarter of $11.1 million, or $0.06 per share, lower than $27.7 million, or $0.14 per share, in the same quarter last year.

On a non-GAAP basis, net income was $28.1 million, or $0.16 per share, compared to $28.2 million, or $0.15 per share, in the previous year quarter.

On average, 12 analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.17 per share.

Quarterly net revenues rose to $317.7 million from $288.7 million in the corresponding quarter a year-ago. Ten Wall Street analysts expected revenues of $321.00 million.

For the third quarter, the company anticipates sales to be in the range of $290 to $310 million, and non-GAAP earnings per share between $0.10 and $0.15. Analysts expect earnings of $0.21 per share on revenue of $332.59 million for the third quarter.

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