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inTest

inTest Corporation

inTest Corp is a supplier of test and process solutions for use in manufacturing and testing across a range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications. The company manages its business as three operating segments which is also their reporting units that includes Electronic Test, Environmental Technologies and Process Technologies. Electronic Test (which includes semiconductor test equipment, flying probe and in-circuit testers), Environmental Technologies (which includes its thermal test, process and storage products) and Process Technologies (which includes induction heating and video imaging products). They operate their business worldwide and sells its products both domestically and internationally.

inTest Corp

Northland Capital Markets analyst Ted Jackson maintains inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) with a Market Perform and raises the price target from $10 to $13.

News

Price Target

Analyst Ratings

INTT

Northland Capital Markets Maintains Market Perform on inTest, Raises Price Target to $13

Fourth Quarter and Full Year 2024 Outlook
The Company has tightened the overall range of its expectations for the full year and is providing its fourth quarter financial guidance as shown in the table below. The Company continues to expect the effective tax rate for the year to be approximately 17% to 19%.
Fourth quarter 2024 interest expense is expected to be approximately $210,000. EPS and adjusted EPS (Non-GAAP)3 at the mid-point of the estimates for the quarter are approximately $0.08 and $0.14, respectively and is based on approximately 12,150,000 weighted average shares. Capital expenditures are expected to continue to be approximately 1% to 2% of revenue.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(As of November 1, 2024)</td>
<td colspan="1" rowspan="1">Fourth Quarter Guidance</td>
<td colspan="1" rowspan="1">Full Year Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1">$34 million to $37 million</td>
<td colspan="1" rowspan="1">$128 million to $131 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Gross margin</td>
<td colspan="1" rowspan="1">Approximately 42%</td>
<td colspan="1" rowspan="1">42% to 43%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating expenses</td>
<td colspan="1" rowspan="1">Approximately $13.5 million</td>
<td colspan="1" rowspan="1">Approximately $53 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Intangible asset amort expense</td>
<td colspan="1" rowspan="1">Approximately $0.9 million</td>
<td colspan="1" rowspan="1">Approximately $3.3 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Intangible asset amort exp. After tax</td>
<td colspan="1" rowspan="1">Approximately $0.7 million</td>
<td colspan="1" rowspan="1">Approximately $2.7 million</td>
</tr>
</tbody>
</table>
</figure>
The foregoing guidance is based on management's current views with respect to operating and market conditions and customers' forecasts. It also assumes macroeconomic conditions remain unchanged through the end of the year. Actual results may differ materially from what is provided here today as a result of, among other things, the factors described under "Forward-Looking Statements" below. Further information about non-GAAP measures can be found under "Non-GAAP Financial Measures" and the reconciliations of GAAP financial measures to non-GAAP financial measures that accompany this press release.

Guidance

CORRECTION: inTEST Expects Q4 Revenue Of $34M - $37M (Est $33.68M), Tightens FY24 Outlook From $128M - $133M To $128M - $131M (Est $130.472M)

inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.07 by 42.86 percent. The company reported quarterly sales of $30.27 million which missed the analyst consensus estimate of $32.99 million by 8.24 percent.&nbsp;

Earnings

Earnings Beats

Earnings Misses

inTest Q3 2024 Adj EPS $0.10 Beats $0.07 Estimate, Sales $30.27M Miss $32.99M Estimate

A new SEC filing reveals that Joseph W. Dews IV, Board Member at inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>), made a notable insider purchase on August 15,.
What Happened: A Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001036262/000106299324015173//Archives/edgar/data/1036262/000106299324015173/0001062993-24-015173-index.htm">U.S. Securities and Exchange Commission</a> on Thursday unveiled that IV made a notable purchase of 10,900 shares of inTest, valuing at $74,120.
During Friday's morning session, inTest shares up by 0.69%, currently priced at $7.34.
<h3>Unveiling the Story Behind inTest</h3>
inTest Corp is a supplier of test and process solutions for use in manufacturing and testing across a range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications. The company manages its business as three operating segments which is also their reporting units that includes Electronic Test, Environmental Technologies and Process Technologies. Electronic Test (which includes semiconductor test equipment, flying probe and in-circuit testers), Environmental Technologies (which includes its thermal test, process and storage products) and Process Technologies (which includes induction heating and video imaging products). They operate their business worldwide and sells its products both domestically and internationally.
<h3>Breaking Down inTest's Financial Performance</h3>
Positive Revenue Trend: Examining inTest's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.4% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Analyzing Profitability Metrics:
<ul>
<li>
Gross Margin: With a low gross margin of 40.59%, the company exhibits below-average profitability, signaling potential struggles in cost efficiency compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): inTest's EPS is below the industry average. The company faced challenges with a current EPS of 0.02. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: inTest's debt-to-equity ratio is below the industry average. With a ratio of 0.33, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 19.7 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: The Price to Sales ratio is 0.73, which is lower than the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 9.26, inTest's EV/EBITDA ratio reflects a below-par valuation compared to industry averages signalling undervaluation
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>Unmasking the Significance of Insider Transactions</h3>
Insider transactions are not the sole determinant of investment choices, but they are a factor worth considering.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001036262">Check Out The Full List Of inTest's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Massive Insider Trade At inTest

Northland Capital Markets analyst Ted Jackson downgrades inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) from Outperform to Market Perform and lowers the price target from $15 to $10.

Downgrades

Northland Capital Markets Downgrades inTest to Market Perform, Lowers Price Target to $10

WIIM

InTest shares are trading lower after the company reported worse-than-expected Q2 financial results and cut its FY24 revenue guidance below estimates.

InTest Cuts FY24 Revenue From $140M-$150M To $128M-$133M Vs $143.44M Est.

InTest Expects Q3 Revenue To Be Slightly Lower Than Q2 While Gross Margin Is Expected To Improve Somewhat Based On Better Mix

inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) reported quarterly earnings of $0.08 per share which missed the analyst consensus estimate of $0.14 by 42.86 percent. This is a 71.43 percent decrease over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $33.99 million which missed the analyst consensus estimate of $34.93 million by 2.69 percent. This is a 4.40 percent increase over sales of $32.56 million the same period last year.

inTest Q2 Adj $0.08 Misses $0.14 Estimate, Sales $33.99M Miss $34.93M Estimate

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.intest.com%2F&amp;esheet=54067194&amp;newsitemid=20240617128549&amp;lan=en-US&amp;anchor=inTEST+Corporation&amp;index=1&amp;md5=f9c841f177ed143cdd3166e87dfedbbe">inTEST Corporation</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTT#NYSE">INTT</a>), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor ("semi"), today announced the launch of its Electronic Test Division's latest innovation for electric vehicle (EV) battery testing technology. The <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.acculogic.com%2Fproducts%2Fhoversense&amp;esheet=54067194&amp;newsitemid=20240617128549&amp;lan=en-US&amp;anchor=Acculogic+patent-pending+hover+sense+non-contact+technology&amp;index=2&amp;md5=53138e240c6cc7a42ada2e3589c6ead4">Acculogic patent-pending hover sense non-contact technology</a> represents a significant leap forward in validating the quality and reliability of EV battery interconnects. EVs rely heavily on the efficiency and dependability of their battery systems. The systems include numerous cell interconnects that are critical to the battery's overall performance and affect everything from power output to charge times.

inTEST Launches Innovative Hover Sense Non-Contact Probe Testing Technology For Electric Vehicle Battery Testing

Lake Street analyst Jaeson Schmidt maintains inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) with a Buy and lowers the price target from $19 to $16.

Lake Street Maintains Buy on inTest, Lowers Price Target to $16

InTest Cuts FY24 Revenue From $145M-$155M To $140M-$150M Vs $149.797M Est.

InTest Sees Q2 2024 Adj. EPS $0.10-$0.16 Vs $0.20 Est.; Revenue $34M-$36M Vs $33.750M Est.

inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.09 by 11.11 percent. This is a 65.52 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $29.824 million which beat the analyst consensus estimate of $29.050 million by 2.66 percent. This is a 6.56 percent decrease over sales of $31.919 million the same period last year.

inTest Q1 2024 Adj EPS $0.10 Beats $0.09 Estimate, Sales $29.824M Beat $29.050M Estimate

InTest shares are trading higher after the company reported better-than-expected adjusted EPS results.

inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) reported its Q4 earnings results on Wednesday, March 27, 2024 at 05:07 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
inTest beat estimated earnings by 23.0%, reporting an EPS of $0.16 versus an estimate of $0.13.
Revenue was down $4.52 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.03 which was followed by a 4.0% drop in the share price the next day.
Here's a look at inTest's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.25</td>
<td>0.27</td>
<td>0.26</td>
<td>0.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.28</td>
<td>0.28</td>
<td>0.29</td>
<td>0.34</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>32.65M</td>
<td>32.10M</td>
<td>31.06M</td>
<td>31.45M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>32.66M</td>
<td>32.56M</td>
<td>31.92M</td>
<td>32.41M</td>
</tr>
</tbody>
</table>

To track all earnings releases for inTest <a href="https://www.benzinga.com/quote/INTT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: inTest Q4 Earnings

inTest (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INTT#AMEX">INTT</a>) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.14 by 14.29 percent. The company reported quarterly sales of $27.884 million which missed the analyst consensus estimate of $29.152 million by 4.35 percent. This is a 13.95 percent decrease over sales of $32.405 million the same period last year.

inTest Q4 2023 Adj EPS $0.16 Beats $0.14 Estimate, Sales $27.884M Miss $29.152M Estimate

The restatement pertains to deferral of revenue related to purchases on behalf of certain customers associated with &quot;last time buys&quot; of discontinued material/components for potential future orders.&nbsp;Preliminary indications are that the&nbsp;third quarter&nbsp;2023 restatement is expected to result in a decrease in revenue of approximately&nbsp;$1.7 million.&nbsp;After giving effect to this change, earnings per diluted share for the&nbsp;third quarter&nbsp;2023 as previously reported is expected to be reduced from&nbsp;$0.24&nbsp;to&nbsp;$0.19.&nbsp;The deferral of revenue is also expected to have a small impact on previously announced preliminary&nbsp;fourth quarter&nbsp;results.&nbsp;Fourth quarter&nbsp;2023 revenue is now expected to be approximately&nbsp;$27.9 million&nbsp;with net earnings of&nbsp;$1.5 million, or&nbsp;$0.12&nbsp;per diluted share.

inTEST To Restate Q3 And First Nine Months 2023 Financial Statements; Expects To Report Material Weakness In Its Internal Control Over Financial Reporting

The acquisition is expected to be dilutive to earnings per diluted share in 2024, but accretive to non-GAAP adjusted EPS due to the anticipated impacts associated with the amortization of intangible assets. Given the timing of the acquisition, the impact to&nbsp;first quarter&nbsp;2024 results from operations are expected to be nominal.

inTEST Updates Full Year 2024 Guidance Due To Alfamation Acquisition; Boosts 2024 Revenue Outlook From $125M-$130M To $145M-$155M; Est $125.795M

Alfamation will become a part of the Electronic Test division within inTEST.&nbsp;At current exchange rates, Alfamation&#39;s annual revenue in 2023 was approximately&nbsp;$25 million&nbsp;and had backlog at December 31, 2023 of approximately&nbsp;$15 million. The Company expects the acquisition to be accretive in 2025. Alfamation has generated healthy, double-digit, annual revenue growth over the last few years.

inTEST Acquires Alfamation S.p.A.; No Terms Disclosed

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
inTest (NYSEMKT:<a href="https://investorplace.com/stock-quotes/intt-stock-quote/">INTT</a>) just reported results for the second quarter of 2024.<ul><li>inTest reported earnings per share of 8 cents. This was below the analyst estimate for EPS of 14 cents.</li><li>The company reported revenue of $33.99 million.</li><li>This was 2.69% worse than the analyst estimate for revenue of $34.93 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/intt-stock-earnings-intest-for-q2-of-2024/">INTT Stock Earnings: inTest Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

INTT Stock Earnings: inTest Misses EPS, Misses Revenue for Q2 2024

inTEST Corporation 2024 Q2 - Results - Earnings Call Presentation

inTEST Corporation (INTT) Q2 2024 Earnings Call Transcript

Rewey Asset Management Q3 2024 Investment Letter

Lake Street analyst Jaeson Schmidt maintained a Buy rating on inTEST (INTT – Research Report) today and set a price target of $10.00. The company's...

inTEST (INTT) Gets a Buy from Lake Street

inTest Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

inTest Non-GAAP EPS of $0.10 beats by $0.03, revenue of $30.27M misses by $2.73M

Intest Crop ( ($INTT) ) has released its Q3 earnings. Here is a breakdown of the information Intest Crop presented to its investors. inTEST Corpora...

inTEST Corporation Reports Strong Margins Amid Shipment Delays

Liberty Park Capital Q3 2024 Letter To Partners

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Press Releases

inTEST Corporation Launches Innovative Hover Sense Non-Contact Probe Testing Technology for Electric Vehicle Battery Testing

inTEST Corporation to Participate in the Northland Growth Conference and Present at the Noble Emerging Growth Conference

inTEST Schedules Second Quarter 2024 Financial Results Conference Call and Webcast

inTEST Reports 4% Revenue Growth for Second Quarter 2024

inTEST Corporation to Present at the Midwest IDEAS Conference

inTEST Corporation to Webcast Presentation at the iAccess Alpha Virtual Conference

inTEST Schedules Third Quarter 2024 Financial Results Conference Call and Webcast

inTEST Achieves 46.3% Gross Margin for Third Quarter 2024

inTEST Corporation to Present at the Southwest IDEAS Conference

inTEST Corporation to Participate in Upcoming Investor Conferences

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