Intest Stock Price, News & Analysis

inTEST Corporation has acquired substantially all assets of Videology Imaging Solutions for $12 million. This acquisition enhances inTEST's presence in life sciences and industrial markets, enriching its product offerings and customer base. Videology generated trailing revenue of $10 million and is expected to contribute approximately $0.05 to diluted earnings per share in its first year. The acquisition aligns with inTEST's growth strategy and its pursuit of innovative solutions in automation and imaging data.

inTEST Corporation (NYSE American: INTT) has announced the release of its third quarter 2021 financial results scheduled for November 5, 2021, before market opening. The company will host a conference call at 8:30 a.m. ET to discuss its financial and operational performance, along with future strategies. Investors can access the call via telephone or a webcast. Details regarding a replay of the call will also be provided. inTEST specializes in test and process solutions across multiple industries, leveraging its engineering expertise to drive growth.

inTEST Corporation (NYSE American: INTT) has secured a new five-year credit agreement with M&T Bank, which includes a $25 million non-revolving delayed draw term loan and a $10 million revolving credit facility. This agreement replaces inTEST’s previous $10 million facility with no borrowings. The funds will support the company’s acquisition and growth strategy. Interest rates are currently pegged to approximately 2.2%, and the loans are backed by inTEST's assets. The management emphasizes this deal enhances financial flexibility for growth initiatives.

inTEST Corporation has acquired the assets of Z-Sciences Corp., a developer of ultra-cold storage solutions for the medical cold chain market. This acquisition aligns with inTEST's strategy to penetrate fast-growing, adjacent markets, particularly in Life Sciences. The company aims to enhance its offerings by leveraging its engineering and manufacturing strengths, targeting a cold chain market estimated at $200 million. The integration will also include Z-Sciences' founder and team, with performance milestones linked to future growth.

inTEST Corporation (NYSE American: INTT) announced the appointment of Richard Rogoff as Vice President of Corporate Development, effective October 1, 2021. Rogoff will join the leadership team, reporting directly to CEO Richard N. Grant, Jr., and will focus on the company's growth strategy, including mergers and acquisitions (M&A). He brings nearly 30 years of experience in business development, having previously advised on M&A processes and held significant roles at Onto Innovation and ASML. This strategic move aims to enhance inTEST's operational capabilities and market expansion.

inTEST Corporation (NYSE American: INTT) announced its participation in two upcoming investor conferences: the 2021 Colliers Virtual Institutional Investor Conference on September 9, 2021, and the Lake Street Capital Markets 2021 Best Ideas Growth (BIG5) Virtual Conference on September 15, 2021. CEO Richard N. Grant, Jr. and CFO Duncan Gilmour will represent the company. Interested investors can arrange one-on-one meetings through their respective conference representatives. Presentation materials will be accessible on inTEST’s website.

inTEST Corporation (NYSE American: INTT) reported Q2 2021 net revenues of $21.8 million, surpassing guidance, up 12% sequentially and 64% year-over-year. GAAP earnings per share reached $0.24, an increase of $0.03 sequentially and $0.22 year-over-year. Total bookings were $25.1 million, with 66% from the semiconductor market. The company also provided Q3 guidance, expecting net revenues between $20.5 million and $21.5 million and GAAP EPS of $0.18 to $0.22.

inTEST Corporation (NYSE American: INTT) announced its collaboration with C1D1 Labs to provide Thermonics chiller systems to the cannabis industry. The partnership aims to meet the rising demand for high-capacity cooling solutions driven by the increasing popularity of CBD and THC products. These ultra-low temperature chillers are designed to enhance extraction throughput by allowing rapid cooling of solvents, thus improving operational efficiency. With cooling capacities ranging from 2.5kw to 17kw, this innovation addresses the specific needs for precision in cryogenic temperature control within cannabis extraction processes.