Welcome to our dedicated page for inTEST Corporation news (Ticker: INTT), a resource for investors and traders seeking the latest updates and insights on inTEST Corporation stock.
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) will present at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 4:15 p.m. Eastern Time. The presentation will be led by
inTEST Corporation (NYSE American: INTT) has completed its acquisition of Acculogic, Inc. for approximately USD$9 million. This strategic move is part of inTEST's 5-Point Growth Strategy to expand its global reach and enhance its product offerings. Acculogic, founded in 1992, specializes in electronic test solutions and generates approximately 75% of its revenue in the defense/aerospace, automotive, and life science sectors. The acquisition is expected to bolster inTEST's electronic test portfolio, allowing it to serve a broader customer base.
inTEST Corporation (NYSE American: INTT) announced the acquisition of Acculogic Inc., a robotics-based electronic test equipment manufacturer, for approximately $9 million. This strategic move aims to enhance inTEST's electronics test capabilities and diversify its customer base, particularly in electric vehicle battery testing. The acquisition is expected to add $9 million in annual revenue and to be accretive to earnings in 2022. Funding will come from existing credit facilities, with anticipated integration expenses of $0.05 per diluted share.
inTEST Corporation (NYSE American: INTT) has announced its participation in several upcoming investor conferences. The conferences include the Ladenburg Thalmann Tech Expo on November 18, 2021, the 10th Annual December CEO Summit on December 8, 2021, and the D.A. Davidson Virtual Semicap, Laser & Optical Conference on December 15, 2021. The CEO Summit requires proof of COVID vaccination for in-person attendance. Interested attendees should RSVP by November 29, 2021. For further details, visit www.intest.com.
inTEST Corporation (NYSE American: INTT) reported a 46% increase in net revenue to $21.1 million for the third quarter of 2021, fueled by strong demand in semiconductor and industrial markets. Despite a sequential decline in the semiconductor segment, it remains robust. The company achieved earnings per share of $0.20 and generated $4.3 million in cash from operations. Two acquisitions were completed post-quarter, expected to enhance earnings. A new credit facility was established to bolster financial flexibility.
inTEST Corporation has acquired substantially all assets of Videology Imaging Solutions for
inTEST Corporation (NYSE American: INTT) has announced the release of its third quarter 2021 financial results scheduled for November 5, 2021, before market opening. The company will host a conference call at 8:30 a.m. ET to discuss its financial and operational performance, along with future strategies. Investors can access the call via telephone or a webcast. Details regarding a replay of the call will also be provided. inTEST specializes in test and process solutions across multiple industries, leveraging its engineering expertise to drive growth.
inTEST Corporation (NYSE American: INTT) has secured a new five-year credit agreement with M&T Bank, which includes a $25 million non-revolving delayed draw term loan and a $10 million revolving credit facility. This agreement replaces inTEST’s previous $10 million facility with no borrowings. The funds will support the company’s acquisition and growth strategy. Interest rates are currently pegged to approximately 2.2%, and the loans are backed by inTEST's assets. The management emphasizes this deal enhances financial flexibility for growth initiatives.
inTEST Corporation has acquired the assets of Z-Sciences Corp., a developer of ultra-cold storage solutions for the medical cold chain market. This acquisition aligns with inTEST's strategy to penetrate fast-growing, adjacent markets, particularly in Life Sciences. The company aims to enhance its offerings by leveraging its engineering and manufacturing strengths, targeting a cold chain market estimated at
inTEST Corporation (NYSE American: INTT) announced the appointment of Richard Rogoff as Vice President of Corporate Development, effective October 1, 2021. Rogoff will join the leadership team, reporting directly to CEO Richard N. Grant, Jr., and will focus on the company's growth strategy, including mergers and acquisitions (M&A). He brings nearly 30 years of experience in business development, having previously advised on M&A processes and held significant roles at Onto Innovation and ASML. This strategic move aims to enhance inTEST's operational capabilities and market expansion.
FAQ
What is the current stock price of inTEST Corporation (INTT)?
What is the market cap of inTEST Corporation (INTT)?
What does inTEST Corporation do?
When was inTEST Corporation founded?
What are the main segments of inTEST Corporation?
What products does inTEST Corporation offer?
Where is inTEST Corporation headquartered?
What markets does inTEST Corporation serve?
When did inTEST Corporation go public?
What were some notable acquisitions by inTEST Corporation?
Does inTEST Corporation operate globally?
How can I stay updated with the latest news from inTEST Corporation?
