Tektronix reports Q4 results

Tektronix Inc recently reported record sales of $ 1.235 billion for fiscal
year 2001. This is a 18 percent increase over sales of $ 1.051 billion for the
measurement business in the prior year, generating net earnings, before
non-recurring credits, of $ 1.38 per share-more than a 60 percent increase over
measurement business net earnings of $ 0.84 per share, excluding non-recurring
charges, for fiscal 2000.

Tektronix’s consolidated net earnings for fiscal 2000, including the gain
on the sale of the Color Printer Division and non-recurring items, was $ 3.63
per share. For the said quarter, sales were $ 305.1 million and net earnings,
before non-recurring credit, were $ 34.6 million. This compares with sales of $
298.7 million and net earnings, before non-recurring charges, of $31.5 million
or $0.32 per share for the measurement business in the same period a year ago.

Commenting on the strong performance, Rick Wills, President and CEO,
Tektronix, said, "We successfully met the challenges we faced in this last
quarter to deliver strong results for the year. We continue to build on our
market leading positions by executing a straightforward strategy and delivering
results."

For the first quarter of fiscal 2002, the company expects sales to decline 15
to 20 percent over the same period a year ago. Operating margins are expected to
be in the mid-single digits. In addition, the company expects to incur one-time
costs of approximately $10 million to align the cost structure with lower order
and sales expectations.

"This is a challenging environment, however we remain confident in our
strategy and in our ability to manage our infrastructure. We have excellent
market position, strong customer relationships, rich technology and a very
healthy balance sheet and expect to emerge from this downturn stronger,"
Wills concluded.

Quarter Highlights

During Q4, in the year 2001, Tektronix announced the following:

• WFM700, the first multi-format waveform monitors to measure and monitor
  high-definition and standard-definition digital signals from the same
  cost-effective, modular platform. WFM700, introduced at the National
  Association of Broadcasting Conference won DigitalTV's Pick of Show award,
  based on achievement in the advancement of digital television art and
  science.
• TDS7000 oscilloscope won ‘Test and Measurement Product of the Year’
  by the readers of Electronik, a leading German publication and ‘2000
  Innovation of The Year-Test and Measurement category’ by EDN, a leading
  US magazine-the latest in a series of awards for this industry leading
  oscilloscope.
• Acquired Adherent Systems Ltd, a technology provider in MPEG test for
  digital video, based in Cambridge, England, bringing together the two
  foremost experts in MPEG technology to provide total MPEG solutions for
  digital video.
• Shipped a significant order to Compaq for its logic analyzer mainframes
  and modules for the development of next-generation Internet servers.