U.S. Markets open in 2 hrs 8 mins

inTEST Corporation (INTT)

NYSE American - NYSE American Delayed Price. Currency in USD
Add to watchlist
5.42+0.02 (+0.37%)
At close: 4:00PM EST
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close5.40
Open5.44
Bid0.00 x 1200
Ask5.43 x 800
Day's Range5.26 - 5.44
52 Week Range2.08 - 6.20
Volume4,213
Avg. Volume23,468
Market Cap57.068M
Beta (5Y Monthly)1.94
PE Ratio (TTM)271.00
EPS (TTM)0.02
Earnings DateNov 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateDec 06, 2012
1y Target Est7.08
  • inTEST to Present at Investor Conferences
    GlobeNewswire

    inTEST to Present at Investor Conferences

    MT. LAUREL, N.J., Nov. 30, 2020 (GLOBE NEWSWIRE) -- inTEST Corporation (NYSE American: INTT), a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications, today announced that the Company is scheduled to participate in the following investor conferences in December: (i) DA Davidson Virtual Semicap, Laser and Optical Conference and (ii) 12th Annual Virtual CEO Summit. Richard N. “Nick” Grant, Jr., President & CEO, and Hugh Regan, Chief Financial Officer, will be participating on behalf of the Company. The presentation materials utilized during the conferences will be available on the Investor Relations section of inTEST’s website at www.intest.com.DA Davidson Virtual Semicap, Laser and Optical Conference / December 15, 2020 inTEST management will be available to meet one-on-one with investors during the conference. Interested investors should contact their DA Davidson representative to secure a meeting time.12th Annual Virtual CEO Summit / December 16, 2020 inTEST management will meet with investors in group meetings during the Summit.The CEO Summit is hosted by executive management from participating companies and will feature a virtual “round-robin” format consisting of small group meetings, each 40 minutes in duration. Each company will be available for up to six meeting slots during the conference, while investors and analysts will have the opportunity to meet with 12 of the participating management teams from 8:15a.m. until 5:15p.m. EST on December 16th. In addition, each management team will present a pre-recorded company overview, which will be available to investors to view on the conference website approximately 48 hours in advance of the Summit.The 16 management teams collectively hosting the 12th Annual Virtual CEO Summit 2020 currently include: ACM Research (ACMR), Advanced Energy Industries (AEIS), Aehr Test (AEHR), Alpha & Omega Semiconductor (AOSL), Axcelis (ACLS), Brooks Automation (BRKS), Camtek (CAMT), Cohu (COHU), Everspin Technologies (MRAM), FormFactor (FORM), Ichor Systems (ICHR), inTEST Corporation (INTT), Intevac (IVAC), Kulicke & Soffa (KLIC), Onto Innovation (ONTO) and Veeco Instruments (VECO). Intro-act is sponsoring the conference.The Virtual CEO Summit is by invitation only and is open to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Advance registration and company meeting selection is required. Last day for registration is December 10, 2020.For more information on the Virtual CEO Summit, please email Laura Guerrant-Oiye.About inTEST Corporation inTEST Corporation is a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications. Backed by decades of engineering expertise and a culture of operational excellence, we solve difficult thermal, mechanical and electronic challenges for customers worldwide while generating strong cash flow and profits. Our strategy uses these strengths to grow and increase stockholder value by maximizing our businesses and by identifying, acquiring and optimizing complementary businesses. For more information visit www.intest.com. CONTACT: Contacts inTEST Corporation Hugh T. Regan, Jr. Treasurer and Chief Financial Officer Tel: 856-505-8999 Investors: Laura Guerrant-Oiye, Principal Guerrant Associates laura@ga-ir.com Tel: (808) 960-2642

  • Hedge Funds Are Selling inTEST Corporation (INTT)
    Insider Monkey

    Hedge Funds Are Selling inTEST Corporation (INTT)

    With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was inTEST Corporation (NASDAQ:INTT). inTEST Corporation (NASDAQ:INTT) investors should be aware […]

  • inTEST Reports 2020 Third Quarter Financial Results
    GlobeNewswire

    inTEST Reports 2020 Third Quarter Financial Results

    * Third Quarter Net Revenues Grew 9% Sequentially; * Bookings Increased 4% SequentiallyMT. LAUREL, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- inTEST Corporation (NYSE American: INTT), a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications, today announced financial results for the quarter ended September 30, 2020.2020 Third Quarter Financial Summary($ in Millions, Except Per Share Data)Three Months Ended  9/30/20206/30/20209/30/2019 Semi Market Bookings (1)$7.2 $7.3 $6.6  Multimarket Bookings (2) 7.2  6.6  7.3  Total Bookings$14.4 $13.9 $13.9       Semi Market Bookings (1) - % of Total Bookings            50% 52%            48% Multimarket Bookings (2) - % of Total Bookings 50% 48%            52%      Semi Market Net Revenues (1)$7.4 $6.9 $7.1  Multimarket Net Revenues (2) 7.0  6.4               7.5  Total Net Revenues$14.4 $13.3 $14.6       Semi Market Net Revenues (1) - % of Total Net Revenues            51% 52%            49% Multimarket Net Revenues (2) - % of Total Net Revenues            49% 48%            51%      Gross Margin$6.5 $6.1 $7.2  Gross Margin            45% 46%            49%      Net Earnings (GAAP)$0.5 $0.2 $        0.6  Net Earnings per diluted share (GAAP)$0.04 $0.02 $   0.06       Adjusted Net Earnings (Non-GAAP) (3)$0.8 $0.5 $1.0  Adjusted Net Earnings per diluted share (Non-GAAP) (3)$0.07 $0.05 $0.09       EBITDA (Non-GAAP) (3)$0.9 $0.7 $1.3        As of  9/30/20206/30/202012/31/2019 Cash and cash equivalents$9.5 $7.4 $7.6   (1)Semi Market: These amounts include all bookings and net revenues from the semiconductor market.    (2)Multimarket: These amounts include all bookings and net revenues from markets other than the semiconductor market.    (3)Adjusted Net Earnings, Adjusted Net Earnings per diluted share and EBITDA are non-GAAP financial measures. Further information can be found under “Non-GAAP Results.” See also the reconciliation of GAAP measures to non-GAAP measures that accompanies this earnings release. 2020 Nine Month Year-to-Date Financial Summary($ in Millions, Except Per Share Data)Nine Months Ended  9/30/20209/30/2019 Semi Market Bookings (4)$21.2 $20.8  Multimarket Bookings (5) 20.9  20.9  Total Bookings$42.1 $41.7      Semi Market Bookings (4) - % of Total Bookings 50%             50%  Multimarket Bookings (5) - % of Total Bookings            50%             50%      Semi Market Net Revenues (4)$19.2 $24.9  Multimarket Net Revenues (5)            19.7             22.1  Total Net Revenues$38.9 $47.0      Semi Market Net Revenues (4) - % of Total Net Revenues            49%             53%  Multimarket Net Revenues (5) - % of Total Net Revenues            51%             47%      Gross Margin$17.4 $22.8  Gross Margin 45%             48%      Net Earnings (Loss) (GAAP)$       (0.5)$1.6  Net Earnings (Loss) per diluted share (GAAP)$   (0.05)$0.15      Adjusted Net Earnings (Non-GAAP) (6)$         0.4 $2.5  Adjusted Net Earnings per diluted share (Non-GAAP) (6)$0.04 $0.24      EBITDA (Non-GAAP) (6)$0.7 $3.4   (4)Semi Market: These amounts include all bookings and net revenues from the semiconductor market.    (5)Multimarket: These amounts include all bookings and net revenues from markets other than the semiconductor market.    (6)Adjusted Net Earnings, Adjusted Net Earnings per diluted share and EBITDA are non-GAAP financial measures. Further information can be found under “Non-GAAP Results.” See also the reconciliation of GAAP measures to non-GAAP measures that accompanies this earnings release.    “We are pleased with our financial results for the third quarter,” commented inTEST President and CEO Nick Grant. “We delivered solid results in line with our expectations, resulting in sequential revenue and profitability growth. Net revenues of $14.4 million grew 9% and non-GAAP adjusted net earnings per diluted share of $0.07 increased from $0.05 as compared to the second quarter of 2020.” Mr. Grant added, “We are seeing improving conditions in most markets we serve and had good order activity from new customers during the third quarter. While COVID-related challenges continue to impact the overall operating environment, order flow has continued to strengthen, with third quarter bookings of $14.4 million increasing 4% from the second quarter.”Mr. Grant continued, “We are operating in a challenging environment that rewards innovation and are meeting the demanding requirements of our customers with an impressive breadth of products to serve our global customer base. As we continue to strengthen our capabilities and enhance our position in the industry, we are building an enduring business.”2020 Fourth Quarter Financial Outlook inTEST’s guidance for the 2020 fourth quarter includes estimates of both GAAP and non-GAAP financial measures. A reconciliation between these GAAP and non-GAAP financial measures is included below.Actual results may differ materially as a result of, among other things, the factors described under “Forward-Looking Statements” below.inTEST expects that net revenues for the fourth quarter of 2020 will be in the range of $14.0 million to $15.0 million and that on a GAAP basis, our net loss per diluted share will range from $(0.08) to $(0.03). On a non-GAAP basis, we expect our adjusted net earnings (loss) per diluted share will range from $(0.05) to breakeven. In addition, we expect that gross margin will range from 44% to 45%. This outlook is based on the Company’s current views with respect to operating and market conditions and customers’ forecasts, which are subject to change.The Company noted that guidance for the fourth quarter includes $1.3 million in non-recurring charges associated with (i) the consolidation of the Company’s EMS Products division into the manufacturing operation located in Mt. Laurel, NJ, and (ii) the reduction of the administrative footprint in the Company’s Mansfield, MA corporate office associated with the reestablishment of the Mt. Laurel, NJ office as the Company’s corporate headquarters. Excluding the non-recurring charges, the Company’s guidance for the fourth quarter of 2020 would have been for GAAP net earnings per diluted share in the range of $0.02 to $0.10 and non-GAAP adjusted net earnings per diluted share in the range of $0.05 to $0.13.Mr. Grant commented, “Absent the non-recurring charges, our guidance for the fourth quarter of 2020 would have represented an improvement in our financial results as compared to the third quarter. We initiated cost reduction activities in the third quarter that included rightsizing our New Jersey EMS operation and consolidation of our California manufacturing into New Jersey. These actions not only provide cost reductions through footprint optimization, but they also allow us to better serve our global customers through streamlined operations. We expect that the consolidation of our EMS manufacturing will result in substantial annual savings going forward.”2020 Third Quarter Supplemental Information and Conference Call Details inTEST is providing Supplemental Information (“Information”) in combination with its press release. This Information is offered to provide shareholders and analysts with additional time and detail for analyzing the Company’s financial results in advance of the Company’s quarterly conference call. The Information will be available in conjunction with the press release at inTEST’s website www.intest.com, under the “Investors” section.inTEST management will host a conference call on Tuesday, November 10, 2020 at 8:30 am Eastern Standard Time. The conference call will address the Company’s 2020 third quarter financial results, and management’s current expectations and views of the industry. The call may also include discussion of strategic, operating, product initiatives or developments, or other matters relating to the Company’s current or future performance. To access the live conference call, please dial (323) 794-2598 or (800) 458-4121. The Passcode for the conference call is 1878028. Please reference the inTEST 2020 Q3 Financial Results Conference Call.2020 Third Quarter Live Webcast Details inTEST Corporation will provide a webcast in conjunction with the conference call. To access the live webcast, please visit inTEST’s website www.intest.com under the “Investors” section.2020 Third Quarter Replay Details (Webcast) A replay of the webcast will be available on inTEST’s website for one year following the live broadcast. To access the webcast replay, please visit inTEST’s website www.intest.com under the “Investors” section.Submit Questions In advance of the conference call, and for those investors accessing the webcast, inTEST Corporation welcomes individual investors to submit their questions via email to laura@ga-ir.com.Non-GAAP Results In addition to disclosing results that are determined in accordance with GAAP, we also disclose non-GAAP financial measures. These non-GAAP financial measures include adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and EBITDA. Adjusted net earnings (loss) is derived by adding acquired intangible amortization, adjusted for the related income tax expense (benefit), to net earnings (loss). Adjusted net earnings (loss) per diluted share is derived by dividing adjusted net earnings (loss) by diluted weighted average shares outstanding. EBITDA is derived by adding acquired intangible amortization, interest expense, income tax expense, and depreciation to net earnings (loss). These results are provided as a complement to the results provided in accordance with GAAP. Adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and EBITDA are non-GAAP financial measures presented to provide investors with meaningful, supplemental information regarding our baseline performance before acquired intangible amortization charges and changes in the estimate of future consideration that may be paid out related to prior acquisitions as these expenses or income items may not be indicative of our current core business or future outlook. These non-GAAP financial measures are used by management to make operational decisions, to forecast future operational results, and for comparison with our business plan, historical operating results and the operating results of our peers. A reconciliation from net earnings (loss) and net earnings (loss) per diluted share to adjusted net earnings (loss) and adjusted net earnings (loss) per diluted share and from net earnings (loss) to EBITDA, which are discussed in this earnings release, is contained in the tables below. The non-GAAP financial measures discussed in this earnings release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP financial measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP.About inTEST Corporation inTEST Corporation is a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications. Backed by decades of engineering expertise and a culture of operational excellence, we solve difficult thermal, mechanical and electronic challenges for customers worldwide while generating strong cash flow and profits. Our strategy uses these strengths to grow and increase stockholder value by maximizing our businesses and by identifying, acquiring and optimizing complementary businesses.For more information visit www.intest.com.Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of our plans, strategies and intentions, or our future performance or goals, that are based upon management's current expectations. Our forward-looking statements can often be identified by the use of forward-looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “plans,” “projects,” “forecasts,” “outlook,” “anticipates” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the impact of the COVID-19 pandemic on our business, liquidity, financial condition and results of operations, including as a result of evolving public health requirements in response to the pandemic such as government mandated facility closures, availability of employees, supply chain and distribution interruptions, customers’ inability or refusal to accept product deliveries and the sufficiency of our current level of working capital to address our cash requirements; indications of a change in the market cycles in the Semi Market or other markets we serve including as a result of the COVID-19 pandemic; changes in business conditions and general economic conditions both domestically and globally; changes in the demand for semiconductors, generally and as a result of the COVID-19 pandemic; the success of our strategy to diversify our business by entering markets outside the Semi Market; our ability to successfully consolidate our EMS operations without any impacts on customers shipments; the possibility of future acquisitions or dispositions and the successful integration of any acquired operations; our ability to borrow funds or raise capital to finance potential acquisitions; changes in the rates and timing of capital expenditures by our customers including as a result of the COVID-19 pandemic; success of product development programs; increases in raw material and fabrication costs associated with our products; and other risk factors set forth from time to time in our Securities and Exchange Commission filings, including, but not limited to, our annual report on Form 10-K for the year ended December 31, 2019, quarterly reports on Form 10-Q for the quarter ended March 31, 2020 and the quarter ended June 30, 2020 and subsequent quarterly reports on Form 10-Q. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks to circumstances only as of the date on which it is made. We undertake no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events. SELECTED FINANCIAL DATA (Unaudited) (In thousands, except per share data)Condensed Consolidated Statements of Operations Data: Three Months Ended Nine Months Ended  9/30/2020 9/30/2019 6/30/2020 9/30/2020 9/30/2019            Net revenues        $14,443  $14,632  $13,275  $38,948  $47,046 Gross margin         6,450   7,205   6,067   17,384   22,760 Operating expenses:          Selling expense         1,747   2,044   1,761   5,560   6,505 Engineering and product development expense         1,316   1,261   1,217   3,825   3,753 General and administrative expense         2,960   3,094   2,888   8,732   10,549 Operating income (loss)         427   806   201   (733)  1,953 Other income (loss)         6   (12)  (18)  (44)  3 Earnings (loss) before income tax expense (benefit)         433   794   183   (777)  1,956 Income tax expense (benefit)         (25)  147   13   (262)  358 Net earnings (loss)         458   647   170   (515)  1,598            Net earnings (loss) per share – basic        $0.04  $0.06  $0.02  $(0.05) $0.15 Weighted average shares outstanding – basic         10,270   10,421   10,252   10,248   10,406            Net earnings (loss) per share – diluted        $0.04  $0.06  $0.02  $(0.05) $0.15 Weighted average shares outstanding – diluted         10,288   10,430   10,259   10,248   10,423 Condensed Consolidated Balance Sheets Data: As of:  9/30/2020 6/30/2020 12/31/2019        Cash and cash equivalents        $9,473 $7,424 $7,612 Trade accounts receivable, net         9,533  9,457  9,296 Inventories         6,924  7,930  7,182 Total current assets         26,642  25,256  24,895 Net property and equipment         2,417  2,295  2,420 Total assets         62,789  59,858  59,715 Accounts payable         2,203  2,618  1,984 Accrued expenses         5,147  4,163  4,207 Total current liabilities         9,284  8,790  8,361 Noncurrent liabilities         8,682  6,889  6,520 Total stockholders' equity         44,823  44,179  44,834 Reconciliation of Net Earnings (Loss) (GAAP) to Adjusted Net Earnings (Non-GAAP) and Net Earnings (Loss) Per Share – Diluted (GAAP) to Adjusted Net Earnings Per Share – Diluted (Non-GAAP): Three Months Ended Nine Months Ended  9/30/2020 9/30/2019 6/30/2020 9/30/2020 9/30/2019            Net earnings (loss) (GAAP)        $458  $647  $170  $(515) $1,598  Acquired intangible amortization         307   312   309   927   944  Tax adjustments         (15)  (4)  (5)  (24)  (12) Adjusted net earnings (Non-GAAP)        $750  $955  $474  $388  $2,530             Diluted weighted average shares outstanding         10,288   10,430   10,259   10,262   10,423             Net earnings (loss) per share – diluted:          Net earnings (loss) (GAAP)        $0.04  $0.06  $0.02  $(0.05) $0.15  Acquired intangible amortization         0.03   0.03   0.03   0.09   0.09  Tax adjustments         -   -   -   -   -  Adjusted net earnings per share – diluted (Non-GAAP)        $0.07  $0.09  $0.05  $0.04  $0.24             Reconciliation of Net Earnings (Loss) (GAAP) to EBITDA (Non-GAAP): Three Months Ended Nine Months Ended  9/30/2020 9/30/2019 6/30/2020 9/30/2020 9/30/2019            Net earnings (loss) (GAAP)        $458   $   647  $170  $(515) $1,598  Acquired intangible amortization         307    312   309   927    944  Interest expense         4    -   25   29    -  Income tax expense (benefit)         (25)  147   13   (262)  358  Depreciation         164    170   155   474    535  EBITDA (Non-GAAP)        $    908   $1,276  $672  $653   $3,435             Supplemental Information – Reconciliation of Fourth Quarter 2020 Estimated Net Earnings Per Share – Diluted (GAAP) to Estimated Adjusted Net Earnings Per Share – Diluted (Non-GAAP): Low High      Estimated net loss per share – diluted (GAAP)        $(0.08) $(0.03) Estimated acquired intangible amortization         0.03   0.03  Estimated tax adjustments         -   -  Estimated adjusted net earnings (loss) per share – diluted (Non-GAAP)        $(0.05) $0.00  CONTACT: Contacts inTEST Corporation Hugh T. Regan, Jr. Treasurer and Chief Financial Officer Tel: 856-505-8999 Investors: Laura Guerrant-Oiye, Principal Guerrant Associates laura@ga-ir.com Tel: (808) 960-2642