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Overview of inTEST Corporation
inTEST Corporation (INTT) is a multifaceted supplier specializing in advanced test and process solutions for semiconductor manufacturing and diverse markets such as automotive, defense/aerospace, industrial, medical, and telecommunications. As a major supplier of semiconductor test equipment and thermal test systems, the company has established a reputation for engineering precision and comprehensive global service. Founded in 1981 in Cherry Hill, New Jersey, inTEST Corporation has developed an industry-recognized portfolio that addresses the precise demands of testing integrated circuits and wafer products.
Core Business Areas
The company operates through three main segments:
- Electronic Test: This segment focuses on semiconductor testing solutions, including equipment such as flying probe testers, in-circuit testers, and tester interfaces that are essential for ensuring the quality and reliability of integrated circuits.
- Environmental Technologies: Specializing in thermal test and process control, this segment supplies innovative thermal management systems critical for maintaining process integrity in applications that demand precise temperature control.
- Process Technologies: Offering products such as induction heating and video imaging solutions, this segment enhances manufacturing processes by providing state-of-the-art process technologies tailored to specific industry needs.
Technological Innovation and Global Presence
inTEST Corporation is admired for its ability to integrate cutting-edge technology with reliable, hands-on technical support. The company's dedication to engineering innovation is demonstrated through its continual development of advanced test head manipulators and docking hardware, which are essential for state-of-the-art semiconductor production. With operations spanning the globe, inTEST not only provides technology solutions but also ensures that customers benefit from world-class service and support. This service-centric approach has been a cornerstone of its growth strategy since its initial public offering in 1997, enabling it to expand its market presence systematically through strategic acquisitions and partnerships.
Market Position and Competitive Landscape
Positioned within a competitive industry that demands both technical excellence and operational efficiency, inTEST Corporation differentiates itself through its robust global service network and expertise in complex manufacturing test environments. By addressing the specific needs of semiconductor manufacturers and various other industries, the company has carved out a niche that leverages both technological innovation and personalized client support. Its history of acquiring complementary businesses has bolstered its product portfolio and allowed it to adapt to rapid technological changes and market demands.
Business Model and Revenue Streams
Their business model is built on the engineering, manufacturing, and marketing of test and process equipment that supports the manufacturing and quality assurance processes of electronic components. Revenue is generated primarily from direct sales of sophisticated testing systems and ongoing service agreements, as well as through strategic partnerships that expand market reach into diverse sectors including high-growth areas like biomedical and telecommunications. The integrated structure of their three operating segments promotes operational synergies, enabling the company to sustain a consistent presence across multiple facets of industrial manufacturing and testing.
Customer Focus and Technical Support
A key differentiator for inTEST is its commitment to customer satisfaction through close technical support and continuous service innovation. The company’s customer base spans semiconductor manufacturers as well as clients in automotive, aerospace, and medical technology sectors, all of whom rely on the uncompromising quality and reliability of its products. By investing in state-of-the-art technology and maintaining a high level of responsiveness, inTEST has built enduring relationships with clients across the globe.
Expertise and Industry Insight
inTEST Corporation’s deep expertise is reflected in its engineering-driven culture and long-standing presence in the semiconductor test equipment market. The company stays ahead of rapid industry evolutions through persistent research and development, strategic acquisitions, and a thorough understanding of market dynamics. This approach, combined with its comprehensive service model and ability to adapt to varied industry needs, underscores its established authority in this technologically complex field.
Comprehensive Product Offerings
In addition to its flagship product categories, inTEST offers a range of innovative solutions that encompass:
- Advanced test head manipulators that enhance the precision and efficiency of semiconductor tests.
- Docking hardware and tester interfaces designed to meet rigorous standards in electronic testing environments.
- Thermal test systems that provide regulated temperature control for critical manufacturing processes.
This extensive product lineup is complemented by top-tier technical services that ensure immediate, knowledgeable support wherever customers operate, making inTEST a reliable choice in global markets.
Strategic Partnerships and Industry Collaborations
The company has been proactive in establishing partnerships with other technology providers and distributors. These collaborations enable inTEST to offer integrated solutions that address specific industry challenges, such as advanced process cooling technologies and specialized test protocols for complex production environments. The diversity of these partnerships illustrates inTEST Corporation’s readiness to embrace market changes and technological trends, further reinforcing its authority in the semiconductor and industrial testing sectors.
Conclusion
inTEST Corporation’s long-standing position in the market is defined by its commitment to technological innovation, high-quality manufacturing standards, and unwavering global support. Serving a diverse clientele across multiple high-demand industries, the company remains a pivotal contributor to the advanced testing infrastructure that is critical for electronic manufacturing and process optimization. Its detailed product offerings, paired with a strategic approach to market penetration and customer service, solidify its authority as a trusted provider of test systems and process solutions.
inTEST Corporation (NYSE American: INTT), a leader in innovative test and process solutions, announced participation in the Allied Global Partners Tech Conference on February 16. The company’s President & CEO, Nick Grant, and CFO, Duncan Gilmour, will be available for investor meetings. inTEST operates across diverse sectors including automotive, defense, industrial, life sciences, and semiconductor manufacturing, leveraging extensive engineering expertise to solve complex challenges. With a focus on organic growth and acquisitions, inTEST aims to expand its market reach and innovative technologies.
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.
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