Intest Stock Price, News & Analysis

inTEST (NYSE American: INTT) reported Q2 2024 results with revenue growth of 4% year-over-year to a record $34.0 million, primarily due to the acquisition of Alfamation. The company faced challenges in the semiconductor industry, with sales down 46% year-over-year. Earnings per diluted share was $0.02, while adjusted EPS was $0.08. inTEST implemented cost-reduction measures, resulting in $1.2 million of annualized savings starting Q3. The company adjusted its 2024 guidance due to ongoing market conditions, expecting revenue between $128 million to $133 million for the full year.

inTEST (NYSE American: INTT), a global supplier of innovative test and process technology solutions, has announced its second quarter 2024 financial results conference call and webcast. The company will release its financial results before market opening on Friday, August 2, 2024. A conference call and webcast will follow at 8:30 a.m. Eastern Time to review the results and discuss corporate strategies and outlook.

Interested parties can join the call via phone at (201) 689-8263 or access the webcast and accompanying slide presentation on the company's website. A telephonic replay will be available until August 9, 2024, and a webcast replay can be accessed through the investor relations section of inTEST's website.

inTEST (NYSE American: INTT) announced that its President & CEO, Nick Grant, and CFO, Duncan Gilmour, will participate in two upcoming virtual events. The first is the Northland Capital Markets Growth Conference on June 25, 2024, where they will host virtual investor meetings. The second is the Noble Capital Markets Emerging Growth Virtual Equity Conference on June 27, 2024, where they will present at 10:30 a.m. ET. The presentation will be live-streamed and available on inTEST’s investor relations page. An archive of the presentation will also be accessible post-event.

inTEST (NYSE American: INTT), a global supplier of innovative test and process technology solutions, announced the launch of its new Acculogic hover sense non-contact probe technology for electric vehicle (EV) battery testing. This advanced technology uses magnetic field measurement techniques to evaluate the quality of EV battery interconnects without physical contact, thus eliminating risks of surface degradation and probe markings. The technology also accelerates test throughput by enabling parallel testing with multi-sensor fixtures. The hover sense technology can be integrated into the Stingray EVO500 Battery Tester, a platform with over ten years of production use and hundreds of thousands of battery arrays tested. This innovation aims to improve the reliability and performance of EV batteries. Further details will be presented at The Battery Show Europe 2024 in Stuttgart, Germany.

inTEST (NYSE American: INTT), a global supplier of innovative test and process technology solutions, announced that its President & CEO, Nick Grant, and CFO, Duncan Gilmour, will present at the East Coast IDEAS Conference on June 12, 2024. The event will take place at the Jay Conference Center in New York City at 1:20 p.m. Eastern Time. The presentation will be webcast live and archived for later viewing on the company's investor relations page.

inTEST (NYSE American: INTT) reported $29.8 million in revenue for the first quarter of 2024, representing a 7% increase sequentially. The revenue growth was driven by the Alfamation acquisition, which contributed $1.4 million. Despite a decline in overall sales compared to the prior year, the company adjusted its full-year revenue expectation to $140-150 million, reflecting an 18% growth over 2023. Earnings per diluted share were $0.05, while adjusted earnings per diluted share stood at $0.10. The company generated $2.1 million in cash from operations during the quarter, with cash at March 31, 2024, totaling $27.3 million.

inTEST (NYSE American: INTT) announced a four-year extension of its non-revolving delayed draw term loan and revolving credit facility, and a two-year extension of the draw-down window for the term loan. The maturity date of the term loan and revolving credit facility was extended to May 2, 2031, with a draw-down period until May 2, 2026. The Company has approximately $30 million available funding on the $50.5 million term loan and the full $10 million available under the revolving credit facility. Interest rates are based on the Secured Overnight Financing Rate (SOFR) or a bank-defined base rate plus an applicable margin of at least 2.1%, with an annual interest rate of approximately 7.4% based on current SOFR and leverage. The credit facility and term loan are secured by substantially all of the Company's assets.

inTEST (INTT) has launched the Temptronic RapidTemp™ BT28 ThermoStream®, a cutting-edge benchtop temperature test system for electronics and semiconductor thermal testing. The system offers precise temperature control, high accuracy, rapid transitions, and a compact design. It is aimed at industries such as semiconductor and electronics, providing top-tier performance in a small package. The BT28 is designed to enhance user experience, maximize workspace efficiency, and accelerate product development timelines.