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inTEST Corporation, founded in 1981 in Cherry Hill, New Jersey, is a leader in the design, manufacture, and marketing of products predominantly used by semiconductor manufacturers for testing integrated circuits and wafer products. With a strong presence in the global semiconductor industry, inTEST is renowned for its exceptional service and technical support worldwide.
The company offers a diverse range of product lines such as test head manipulators, docking hardware, tester interfaces, and thermal test systems. These products are essential for the rigorous testing processes required by semiconductor manufacturers to ensure the reliability and functionality of their devices.
inTEST Corporation operates through three main segments: Electronic Test, Environmental Technologies, and Process Technologies. The Electronic Test segment includes semiconductor test equipment, flying probes, and in-circuit testers. The Environmental Technologies segment covers thermal testing, process control, and storage products. The Process Technologies segment features induction heating and video imaging solutions.
Since its initial public offering in 1997, inTEST has utilized its capital to drive internal growth and expand its market presence through strategic acquisitions. Notable acquisitions include TestDesign Corporation in 1998, Temptronic Corporation in 2000, and Thermonics Inc. in 2012. These acquisitions have bolstered inTEST's capabilities and product offerings, allowing them to better serve their diverse customer base.
inTEST Corporation's commitment to innovation and customer satisfaction has led to its prominence in various markets beyond semiconductors. These markets include automotive, defense/aerospace, industrial, medical, and telecommunications. By providing high-quality test and process solutions, inTEST continues to support the development and manufacturing processes of its clients worldwide.
Stay updated with the latest news and announcements from inTEST Corporation to understand their financial performance, new projects, and significant achievements. With their dedication to excellence and continuous improvement, inTEST Corporation remains a key player in the global market for test and process solutions.
inTEST Corporation (NYSE American: INTT) has partnered with Traceable, an Antylia Scientific Company, to integrate its TraceableLIVE® cloud service into North Sciences Ultra-Low Temperature (ULT) biomedical freezers. This addition will enable remote monitoring of critical temperatures, enhancing sample security for medical and research labs. The freezers, capable of -86°C storage, are designed to protect samples and research integrity. This collaboration aims to provide a modern solution for researchers, ensuring peace of mind regarding sample safety.
inTEST Corporation (NYSE American: INTT) announced that President & CEO Nick Grant and CFO Duncan Gilmour will present at the Southwest IDEAS Conference in Dallas, TX on November 16, 2022, at 11:00 a.m. Central Time. The event will be webcast live, and a replay will be available on the company's investor relations website. inTEST is known for providing innovative test and process solutions across several key markets, including automotive, aerospace, and semiconductor manufacturing, driven by their engineering expertise and operational excellence.
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.
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