Sudan Gazette

ROCK HILL, SC / ACCESSWIRE / January 31, 2024 / Today, January 31, 2024, is the deadline to file 1099, W-2, and 94x Payroll Forms with the IRS, SSA, and states. Additionally, recipient copies of Forms 1099 and W-2 must be distributed to vendors and employees today. Not to mention, businesses that offer health coverage plans to residents of Massachusetts and California have ACA state deadlines today. TaxBandits, an industry-leading e-file provider of these forms, and many more, offers seamless e-filing and distribution solutions paired with expert customer support.

The team at TaxBandits is working extended hours through the deadline to ensure that all of their clients’ needs are taken care of, and in turn, their clients are responding with rave reviews and positive feedback. Clients of TaxBandits have expressed their satisfaction with the swift and precise assistance received during critical moments of the tax filing process.

Expert, Local Customer Support:

The company’s dedication to understanding each client’s unique needs and providing tailored solutions has become a hallmark of its service.

TaxBandits’ client testimonials underscore the application’s effectiveness in delivering timely and accurate solutions, ensuring a smooth tax filing experience. The company’s commitment to excellence has solidified its position as a trusted partner for businesses, tax professionals, and payroll providers alike.

TaxBandits largely credit their client loyalty to their human approach to customer service. Where other companies cut costs with complex phone trees and automated chat-bots, their team instead focuses on human interaction and expedited attention for their clients.

Why Businesses, Tax Professionals, and Service Providers Choose TaxBandits:

The TaxBandits team operates on the mindset that their clients’ feedback speaks volumes about their product and services. Here is some of the feedback received as of late.

"Your service is efficient, user friendly, well organized, affordable, and convenient. I am going to recommend you to every small business owner I know. Nice product and service."

"TaxBandits, your filing system is amazing. Thank you for having such a great platform to perform the items needed to be done in the crazy tax season."

"TaxBandits is so easy to use – simply the BEST tax filing software."

"I do quarterly and annual tax filings for 6 small businesses. This year I tried out 3 different companies to complete and efile those forms and TaxBandits was far and away the easiest and most pleasant experience in this regard."

"I cannot tell you how thankful I am for TaxBandits and the Sage link. Filing was very simple once I had watched the videos and learned the how-to get it done!"

"WOW, just WOW, so easy and fast! It is rare to have services exceed your expectations but TaxBandits did just that, thank you."

When asked about the recent surge in client appreciation, Agie Sundaram, the CEO and Co-founder of SPAN Enterprises (parent company of TaxBandits), responded with excitement, stating, "Our team works very hard to provide every client with a seamless e-filing experience and customer support that is quick, effective, and most importantly – human. While many companies choose to cut corners and replace expert support with bots and complex phone trees, that’s not how we do business. Clients needing assistance can easily reach out to our team and get in touch with one of our representatives. For businesses seeking a reliable e-filing partner with a proven track record of expert customer support, TaxBandits is the perfect choice for you."

Join the thousands of happy Business owners and tax professionals meeting today’s deadline with TaxBandits by creating a free account at TaxBandits.com.

About TaxBandits:

TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in 1099, Form W-2, Form 1095-C, Form 1095-B, Form 940, Form 941, and Form W-9. Serving businesses, service providers, and tax professionals, TaxBandits offers a comprehensive solution for year-end filings.

Software providers and other high-volume filers can take advantage of TaxBandits API. The integration allows them to add value for their clients and expand monetization efforts. TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms. Software providers can also use the developer-friendly 1099 API to request W-9s and automate 1099 filings efficiently.

About SPAN Enterprises:

Headquartered in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software tools for e-filing and business management for over a decade. The SPAN Enterprises portfolio includes Tax 990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.

For any media inquiries, please reach out to Stephanie Glanville, Content Writer at stephanie@spanenterprises.com.

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SOURCE: TaxBandits

View the original press release on accesswire.com

• Revenue of $671 million in Q4’23, down 8% from Q4’22
• Revenue of $2,676 million in FY 2023, down 15% from FY 2022
• Record Robotics revenue in Q4’23, up 50% from Q3’23 and 17% from Q4’22

NORTH READING, MA / ACCESSWIRE / January 30, 2024 / Teradyne, Inc. (NASDAQ:TER) reported revenue of $671 million for the fourth quarter of 2023 of which $431 million was in Semiconductor Test, $86 million in System Test, $25 million in Wireless Test and $129 million in Robotics. GAAP net income for the fourth quarter was $117 million or $0.72 per diluted share. On a non-GAAP basis, Teradyne’s net income in the fourth quarter was $127 million, or $0.79 per diluted share, which excluded pension actuarial losses, acquired intangible asset amortization, restructuring and other charges, and included the related tax impact on non-GAAP adjustments.

"We closed out 2023 with Q4 revenue and profit in line with our guidance as strong demand for memory test systems and 50% quarterly growth of Robotics revenue offset weakening demand for System-on-a-Chip (SOC) test systems," said Teradyne CEO Greg Smith. "Looking into the new year, we expect low tester utilization will impact demand in the first half of the year but anticipate the full year Semiconductor test demand to incrementally improve from 2023. In Robotics, after expected seasonal weakness in Q1, we project consistent quarterly growth powered by new products, new applications and improvements in our global distribution channels."

Guidance for the first quarter of 2024 is revenue of $540 million to $590 million, with GAAP net income of $0.19 to $0.35 per diluted share and non-GAAP net income of $0.22 to $0.38 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization and includes the related tax impact on non-GAAP adjustments.

Webcast

A conference call to discuss the fourth quarter results, along with management’s business outlook, will follow at 8:30 a.m. ET, Wednesday, January 31, 2024. Interested investors should access the webcast at www.teradyne.com and click on "Investors" at least five minutes before the call begins. Presentation materials will be available starting at 8:30 a.m. ET. A replay will be available on the Teradyne website at www.teradyne.com/investors.

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, pension actuarial gains and losses, stock compensation modification expense, 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 www.teradyne.com 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) test technology helps bring high-quality innovations such as smart devices, life-saving medical equipment and data storage systems to market, faster. Its advanced test solutions for semiconductors, electronic systems, wireless devices and more ensure that products perform as they were designed. Its robotics offerings include collaborative and mobile robots that help manufacturers of all sizes increase productivity, improve safety, and lower costs. In 2023, Teradyne had revenue of $2.7 billion and today employs over 6,500 people worldwide. For more information, visit teradyne.com. 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 Israel-Hamas conflict; 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, 2022 and Quarterly Report on Form 10-Q for the fiscal quarter ended October 1, 2023. 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.

TERADYNE, INC. REPORT FOR FOURTH FISCAL QUARTER OF 2023

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(1) Cost of revenues includes:

(2) For the twelve months ended December 31, 2023, selling and administrative expenses included an equity charge of $5.9 million for the modification of Teradyne’s retired CEO’s outstanding equity awards in connection with his February 1, 2023 retirement.

(3) Restructuring and other consists of:

(4) Interest and other (income) expense includes:

(5) 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 quarters ended December 31, 2023, October 1, 2023 and December 31, 2022, 0.2 million, 0.6 million and 1.2 million shares, respectively, have been included in diluted shares. For the twelve months ended December 31, 2023 and December 31, 2022, 0.6 million and 1.8 million shares, respectively, have been included in diluted shares. For the quarters ended December 31, 2023, October 1, 2023 and December 31, 2022, diluted shares also included 8.6 million, 9.2 million and 7.9 million shares, respectively, from the convertible note hedge transaction. For the twelve months ended December 31, 2023 and December 31, 2022, diluted shares included 8.9 million and 8.8 million shares, respectively, from the convertible note hedge transaction.

CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

GAAP to Non-GAAP Earnings Reconciliation

(In millions, except per share amounts)

(1) Restructuring and other consists of:

(2) For the quarters ended December 31, 2023, October 1, 2023 and December 31, 2022 adjustment to exclude actuarial (gain) loss recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.

(3) For the quarter ended December 31, 2022, the non-GAAP diluted EPS calculation adds back $0.2 million of convertible debt interest expense to non-GAAP net income. For the quarters ended December 31, 2023, October 1, 2023, and December 31, 2022, non-GAAP weighted average diluted common shares include 8.6 million, 9.2 million and 7.9 million shares, respectively, from the convertible note hedge transaction.

(1) Restructuring and other consists of:

(2) For the twelve months ended December 31, 2023, selling and administrative expenses include an equity charge of $5.9 million for the modification of Teradyne’s retired CEO’s outstanding equity awards in connection with his February 1, 2023 retirement.

(3) For the twelve months ended December 31, 2023 and December 31, 2022, adjustment to exclude actuarial (gain) loss recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.

(4) For the twelve months ended December 31, 2023 and December 31, 2022, the non-GAAP diluted EPS calculation adds back $0.2 million and $1.0 million, respectively, of convertible debt interest expense to non-GAAP net income. For the twelve months ended December 31, 2023 and December 31, 2022, non-GAAP weighted average diluted common shares include 8.9 million and 8.8 million shares, respectively, related to the convertible debt hedge transaction.

GAAP to Non-GAAP Reconciliation of First Quarter 2024 guidance:

For press releases and other information of interest to investors, please visit Teradyne’s homepage at http://www.teradyne.com.

SOURCE: Teradyne, Inc.

View the original press release on accesswire.com

Amman: Lawmaker Monday urged curbing the deficit and achieving self-reliance as the Lower House debated the 2024 draft state budget for the fourth day in a row.

In today’s session chaired by Speaker Ahmad Safadi and attended by Prime Minister Bisher Khasawneh and the government team, MPs called on the present government and future governments to build a strong and independent economy with natural wealth and human resources.

“We take note of this budget’s aim to curb the burgeoning deficit in order to keep the ratio of public debt to GDP at last year’s limits of about 118 percent, or 88 percent excluding the Social Security debt,” said MP Fayza Adibat, the first to take the floor.

“It is true that these percentages are high, but curbing the growing public debt is a step in the right direction,” adding that the budget marks a 12% rise in capital expenditures, compared to the previous budget,” she said.

However, Adibat pointed to “the structural distortion in revenues and expenditures, like previous budgets,
as most of the revenues come fom taxes, and most of the expenditures are current expenditures and debt service. Therefore, it does not offer effective solutions to the challenges of high unemployment and low standard of living”, she pointed out.

She also urged the government to refrain from any future agreements with Israel and revisit previous agreements “in order to preserve the nation’s interest and stability.”

Addressing the chamber on behalf of the Parliamentary Justice Bloc, MP Mejhim Sqour stressed aid to farmers and called for easing accumulated debts on them, as well as directing municipalities to open up for investments and local development in cooperation with the private sector.

Referrind to “the tough time the region is experiencing,” Sqour said Jordan exerts maximum efforts to stop the bloodshed and genocide by the hardline Israeli government in Gaza, pointing to air drops by Royal Air Force aircraft to the Jordanian field hospitals in Gaza.

MP Mohammad Hilalat spoke about the economic chall
enge posed to the Kingdom, given the budget deficit it faced for many years and rising unemployment.

He expressed hope the government will pursue an economic correction program, especially after the Lower House passed a package of economic legislation, most notably the investment law and public-private partnership.

Source: Jordan News Agency

Amman: Jordan’s imports witnessed a notable decline in several crucial sectors, including crude oil and its derivatives, jewelry, and grains from the beginning of 2023 until the end of November, resulting in an overall decrease in the country’s import value, according to foreign trade data released by the Department of General Statistics.

The data indicated a significant decline in the percentage of Jordan’s imports by the end of November 2023. Specifically, imports of crude oil and its derivatives decreased by 17.5 percent, jewelry by 27.9 percent, grains by 24.7 percent, and other materials by 4.2 percent.

The total value of the Kingdom’s imports until the end of November of last year amounted to around JD2.723 billion for crude oil and its derivatives, JD1.207 billion for jewelry, JD658 million for grains, and JD8.945 billion for other materials.

However, certain sectors experienced an increase in imports during the same period. Imports of vehicles, bicycles, and their parts increased by 40.7 percent, m
achinery and mechanical tools and their parts increased by 8.7 percent, and electrical machines and devices by 9.0 percent.

The imports value for vehicles, bicycles, and their parts reached around JD1.508 billion, machinery and mechanical tools and their parts reached approximately JD1.035 billion,, and machines and electrical appliances reached about JD876 million.

Overall, Jordan’s total imports from the beginning of 2023 until the end of November recorded a decline of 5.9 percent, amounting to JD16.952 billion compared to JD18.015 billion during the same period in 2022.

Source: Jordan News Agency

Acting Governor of the Lebanese Central Bank, Dr. Wassim Mansouri, on Friday received in his office, the head of La Regie Libanaise Des Tabacs Et Tombacs (Regie) Engineer Nassif Seklaoui.

Seklaoui briefed Mansouri on Regie’s work and its most important achievements at various levels.

Source: National news agency – Lebanon