Intest Stock Price, News & Analysis

inTEST Corporation has upgraded its engineering and sales operations for its backend semiconductor business by opening a new office in Fremont, CA. This relocation aims to streamline operations and lower costs, consolidating previously separate resources. Additionally, the company has moved its digital streaming and image capturing solutions to the High Tech Campus in Eindhoven, Netherlands, enhancing operational efficiencies and collaboration with technology firms. These strategic changes aim to strengthen market presence and drive growth through enhanced product development.

inTEST Corporation (NYSE American: INTT) will present at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 4:15 p.m. Eastern Time. The presentation will be led by Nick Grant, President & CEO, and Duncan Gilmour, CFO. A live webcast will be available at https://ir.intest.com, with a replay offered afterward in the Investors section of the company's website. inTEST specializes in innovative test and process solutions across various sectors, including automotive, defense, and telecommunications.

inTEST Corporation (NYSE American: INTT) has completed its acquisition of Acculogic, Inc. for approximately USD$9 million. This strategic move is part of inTEST's 5-Point Growth Strategy to expand its global reach and enhance its product offerings. Acculogic, founded in 1992, specializes in electronic test solutions and generates approximately 75% of its revenue in the defense/aerospace, automotive, and life science sectors. The acquisition is expected to bolster inTEST's electronic test portfolio, allowing it to serve a broader customer base.

inTEST Corporation (NYSE American: INTT) announced the acquisition of Acculogic Inc., a robotics-based electronic test equipment manufacturer, for approximately $9 million. This strategic move aims to enhance inTEST's electronics test capabilities and diversify its customer base, particularly in electric vehicle battery testing. The acquisition is expected to add $9 million in annual revenue and to be accretive to earnings in 2022. Funding will come from existing credit facilities, with anticipated integration expenses of $0.05 per diluted share.

inTEST Corporation (NYSE American: INTT) has announced its participation in several upcoming investor conferences. The conferences include the Ladenburg Thalmann Tech Expo on November 18, 2021, the 10th Annual December CEO Summit on December 8, 2021, and the D.A. Davidson Virtual Semicap, Laser & Optical Conference on December 15, 2021. The CEO Summit requires proof of COVID vaccination for in-person attendance. Interested attendees should RSVP by November 29, 2021. For further details, visit www.intest.com.

inTEST Corporation (NYSE American: INTT) reported a 46% increase in net revenue to $21.1 million for the third quarter of 2021, fueled by strong demand in semiconductor and industrial markets. Despite a sequential decline in the semiconductor segment, it remains robust. The company achieved earnings per share of $0.20 and generated $4.3 million in cash from operations. Two acquisitions were completed post-quarter, expected to enhance earnings. A new credit facility was established to bolster financial flexibility.

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.