Intest - INTT STOCK NEWS

InTest (NYSE American: INTT), a global supplier of innovative test and process technology solutions, has received the prestigious Texas Instruments (TI) 2024 Supplier Excellence Award through its Electronic Test division business, InTest EMS.

The award recognizes suppliers who consistently meet TI's high standards for excellence across multiple criteria including cost, environmental and social responsibility, technology, responsiveness, assurance of supply, and quality. InTest EMS was selected as part of an elite group of suppliers for their exemplary performance.

The company's solutions focus on testing accuracy, improved efficiency, and reduced downtime through their manipulator, docking and wafer probe equipment solutions. InTest serves key markets including semiconductor, automotive/EV, defense/aerospace, industrial, life sciences and safety/security sectors.

InTest (NYSE: INTT), a global supplier of innovative test and process technology solutions, marked a significant milestone by ringing the opening bell at the New York Stock Exchange to launch its VISION 2030 strategy. The company, which serves key markets including semiconductor, automotive/EV, defense/aerospace, industrial, life sciences, and safety/security, held an Investor Briefing at NYSE following the market open.

President and CEO Nick Grant highlighted the company's successful transformation over the past four years into a recognized leader in test and process technology solutions. The VISION 2030 strategy aims to drive growth, scale the business, expand margins, generate cash, and deliver shareholder value.

InTest (NYSE: INTT) has unveiled its VISION 2030 strategy, building upon the success of its 5-Point Strategy initiated in 2021. The company, which provides innovative test and process technology solutions for semiconductor, automotive/EV, defense/aerospace, life sciences, and safety/security markets, has set ambitious growth targets.

The company has achieved record revenue for three consecutive years through expanding its customer base, geographic reach, innovation initiatives, and service revenue growth. For 2030, InTest has established revenue goals of $235 million to $285 million, expecting:

• 7% to 9% organic growth
• $50 million to $60 million from acquisitions
• Additional $10 million to $20 million growth from future acquisitions

At the revenue goal's mid-point, InTest targets 20% division operating margins and a 10% net income margin.

inTEST (NYSE American: INTT), a global supplier of innovative test and process technology solutions, has announced an upcoming Investor & Analyst Strategy Briefing scheduled for March 26, 2025 at the New York Stock Exchange.

The event will commence at 10:00 am ET, featuring presentations by President and CEO Nick Grant and CFO Duncan Gilmour. Key highlights will include:

• Detailed presentation of the company's five-year financial targets
• Strategic plans for achieving these objectives
• Live Q&A session

The briefing will be accessible via webcast through inTEST's Investor Relations website, with presentation slides available online. Attendees are advised to connect 10-15 minutes before the start time. Post-event resources will include a video replay, slide presentation, and transcript.

inTEST (NYSE American: INTT) has announced the renewal of its $10 million stock repurchase plan, with approximately $9 million remaining. Since the plan's inception, the company has repurchased 141,117 shares for $1,038,850, leaving a balance of $8,961,150 available for additional repurchases.

The plan, originally authorized for stock repurchases through open market purchases from November 17, 2023 to November 17, 2024, allows the company to buy shares through open market purchases, private transactions, or under a Rule 10b5-1 plan. The timing and amount of repurchases will be determined based on market conditions and other factors.

As of October 31, 2024, inTEST had approximately 12.4 million shares outstanding. The company maintains flexibility with no fixed expiration date, and the Board can suspend or discontinue the plan without prior notice.

inTEST (INTT) reported strong Q4 2024 results with record revenue of $36.6 million, up 31% year-over-year. The company achieved operating income of $2.1 million, an 87% increase, while net earnings grew 3% to $1.5 million.

Key highlights include:

• Q4 orders improved 11% year-over-year to $30.7 million
• Generated $3.8 million in operating cash flow in 2024
• Paid down $7.8 million in debt during the year
• Gross margin was 39.7%, impacted by one-time acquisition inventory step-up expense

The company's market diversification strategy proved effective as growth in defense/aerospace, semiconductor, and life sciences offset weakness in industrial markets. For 2025, inTEST provided guidance of $125-135 million in revenue, with Q1 2025 expected at $27-29 million. The company plans to consolidate its Netherlands operations into its Mansfield facility, expecting $0.6 million in restructuring costs and $0.5 million in annual savings by 2026.

inTEST (NYSE American: INTT), a global supplier of innovative test and process technology solutions, has announced its upcoming fourth quarter and full year 2024 financial results release. The results will be disclosed before markets open on Friday, March 7, 2025.

The company will host a conference call and webcast at 8:30 a.m. Eastern Time on the same day to discuss financial results, corporate strategies, and outlook. The event will include a question-and-answer session. A telephonic replay will be available from 12:30 p.m. ET until Friday, March 14, 2025, accessible by dialing (412) 317-6671 with replay pin 13751127.

inTEST (NYSE American: INTT) has announced that its Electronic Test division's EMS Products unit has entered into a strategic agreement with General Bussan Co., to serve as the exclusive distributor in Japan. The partnership aims to promote inTEST's electrical interface, manipulator, and docking solutions throughout Japan's semiconductor industry.

General Bussan, with its extensive experience in supplying electronic devices and components to various industries including semiconductor, science, analytics, medical, and security sectors, will help expand inTEST EMS's reach in what is currently described as an underserved market. The agreement leverages General Bussan's strong customer relationships and industry expertise to distribute inTEST's automated test equipment solutions.

inTEST (NYSE American: INTT) has announced two strategic distributor partnerships to expand its market reach. The company has signed General Bussan Co., as an exclusive distributor in Japan for inTEST EMS Products' engineered solutions in the semiconductor industry. Additionally, Prodigy Processing Solutions has been established as the preferred distributor of iTS Thermonics® Ultra-Low Temperature and Cryogenic Chillers for the cannabis and hemp processing industries.

These partnerships align with inTEST's 5-Point Strategy for growth, aiming to expand geographic presence and deepen market opportunities. The General Bussan partnership targets the underpenetrated Japanese market for analog/digital semiconductor production in auto/industrial applications. The Prodigy agreement focuses on enhancing productivity and cost efficiencies for pharmaceutical, biotechnology, life sciences, and cannabis/hemp processors worldwide.