Intest Stock Price, News & Analysis

inTEST Corporation reported record revenue for the second consecutive quarter, achieving a 46% year-over-year increase. Organic revenue rose 23%, with orders growing 55% to $32.7 million. Backlog also hit a record $47.9 million. Net income climbed 16% to $2.5 million, with diluted EPS increasing 15% to $0.23. Despite supply chain challenges, the company anticipates 2022 revenue at the higher end of $110 million to $115 million. Demand remains strong in key markets, notably semiconductor and life sciences, bolstered by recent acquisitions.

inTEST Corporation (NYSE American: INTT) will announce its third quarter 2022 financial results before the market opens on November 4, 2022. Following the earnings release, the company will hold a conference call at 8:30 a.m. ET to discuss its financial performance, corporate strategies, and future outlook, with a question-and-answer session included. A replay of the call will be available until November 11, 2022, through a dedicated phone line and archived on the company's investor relations website.

inTEST Corporation (NYSE American: INTT) has announced the launch of its new SCAiLX Zoom Block cameras, featuring custom AI technology developed by Videology, a subsidiary of inTEST. This innovative product is a first-to-market solution aimed at several industrial applications, including traffic monitoring and machine vision. The SCAiLX cameras will be showcased at the upcoming Vision 2022 trade show in Stuttgart, Germany, from October 4-6, and are expected to be available in limited quantities in Q2 2023.

inTEST Corporation (NYSE American: INTT) has amended its loan agreement with M&T Bank, increasing the non-revolving delayed draw term loan facility from $25 million to $50.5 million. Following $20.5 million in borrowings in Q4 2021, the remaining available funding is now $30 million, with an extended maturity date of September 2027. The funds will support inTEST's growth strategy, including acquisitions. Current interest rates approximate 5.1%. CFO Duncan Gilmour highlighted this expansion enhances financial flexibility for executing their 5-Point Strategy.

inTEST Corporation (NYSE American: INTT) is showcasing its innovative testing solutions at The Battery Show North America from September 13-15, 2022. Key offerings include the Acculogic STINGRAY EVO500 Battery Interconnect Test System, which ensures the quality of battery arrays vital for EV manufacturing. This automated platform delivers fast, precise resistance measurements to validate interconnections. Additionally, live demonstrations of Ambrell's Induction Heating Technology will be presented, highlighting its applications in EV battery production and other automotive processes.

inTEST Corporation (NYSE American: INTT) announced its participation in two investor conferences. On August 24, 2022, President & CEO Nick Grant and CFO Duncan Gilmour will present at the Midwest IDEAS Conference in Chicago, IL at 12:45 PM CT. The presentation will be accessible online. The following day, August 25, 2022, inTEST will host meetings at the Needham Virtual Semiconductor & SemiCap Conference. The company focuses on innovative testing solutions for various sectors, including automotive and semiconductor manufacturing.

inTEST Corporation reported a 12% organic revenue growth year-over-year, achieving GAAP earnings per diluted share of $0.20 and non-GAAP adjusted earnings of $0.25. The company experienced a 23% sequential growth in revenue and a record backlog of $46 million. Demand surged across key markets, with significant order growth of 61.7% year-over-year. Despite ongoing supply chain constraints, inTEST expects 2022 revenue between $110 million to $115 million, supported by strong customer demand and strategic acquisitions.

inTEST Corporation (NYSE American: INTT) announces the release of its second quarter 2022 financial results scheduled for August 4, 2022, after market close. The company will hold a conference call at 4:45 p.m. ET the same day, including a Q&A session. inTEST provides innovative testing and process solutions in sectors like automotive, aerospace, industrial, and semiconductor manufacturing. The company aims to grow through organic methods and acquisitions by leveraging engineering expertise and operational excellence.

inTEST Corporation (NYSE American: INTT) has expanded its manipulator product line with the launch of the LSC manipulator, now in full production. This versatile manipulator is designed to support test systems weighing up to 400kg, enhancing floor space efficiency while complementing existing products. The LSC's compatibility with probers and vertical plane handlers, along with its cost-effective solution for mid-weight Automated Test Equipment, positions inTEST advantageously in various markets, including automotive and semiconductor.