inTEST (INTT) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Speaker0 Greetings and welcome to the Intest Corporation First Quarter twenty twenty five Financial Results. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sean Suthardt, Investor Relations with nTest. Thank you. You may begin. Speaker1 Good morning, everyone. We certain ...

InTest Corporation (INTT) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.50%. A quarter ago, it was expected that this company would post earnings of $0.14 per share when it actually produced earnings of $0.23, delivering a surprise of 64.29%.Over the last four quarters, the company ...

First Quarter 2025 Financial Results Conference Call Nick Grant, President and CEO Duncan Gilmour, CFO and Treasurer May 2, 2025 | NYSE American: INTT | 1 Forward-looking Statements and Key Performance Metrics NYSE American: INTT | 2 Non-GAAP Financial Measures In addition to disclosing results that are determined in accordance with generally accepted accounting practices in the United States ("GAAP"), we also disclose non- GAAP financial measures. These non-GAAP financial measures consist of adjusted net e ...

Exhibit 99.1 NEWS RELEASE 804 EAST GATE DRIVE, SUITE 200, MOUNT LAUREL, NJ 08054 FOR IMMEDIATE RELEASE InTest Reports $26.6 Million in Revenue and 41.5% Gross Margin for First Quarter 2025 MT. LAUREL, NJ – May 2, 2025 -- InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include semiconductor ("semi"), automotive/EV, defense/aerospace, industrial, life sciences, and safety/security, ...

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-36117 inTEST Corporation (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Incorporation ...

Financial Data and Key Metrics Changes - Record fourth quarter revenue of $36.6 million and full-year revenue of $130.7 million, marking the third consecutive year of record revenue [9][10] - Full-year sales growth of 6% driven by a $25 million contribution from the AlfaMation acquisition, offsetting a 26% decline in the semiconductor sector [10][11] - Gross profit for Q4 was $14.5 million, with a gross margin of 39.7%, reflecting a 430 basis point contraction sequentially and 490 basis points year over year [22][23] Business Line Data and Key Metrics Changes - Revenue growth in auto EV driven by advanced testing technologies from AlfaMation, with a notable increase in demand for battery pack testing [11][19] - Life sciences orders more than doubled to a record $2.3 million, reflecting strong demand for induction heating solutions [16][19] - Industrial sales decreased by $3.7 million due to market softness and project timing [20] Market Data and Key Metrics Changes - Fourth quarter orders increased by 11% year over year, with significant growth in life sciences and auto EV markets [15][16] - Backlog at the end of 2024 was $39.5 million, down $600,000 from the prior year period and down $6 million sequentially [17] Company Strategy and Development Direction - The company is focused on diversifying its market and customer base, with a strategy to evolve into a more diversified test and process technology solutions business [10][39] - Plans to consolidate the Videology Netherlands facility into the Mansfield, Massachusetts location to streamline operations and reduce costs [37] - The company aims to achieve long-term goals outlined in Vision 2030, with a target of reaching over $200 million in revenue by 2027 [78] Management's Comments on Operating Environment and Future Outlook - Management expressed caution for 2025, expecting full-year revenue between $125 million to $135 million, with gradual profitability improvements [29][31] - The uncertainty related to tariffs and customer spending is being closely monitored, with expectations of passing cost increases onto customers if necessary [34][36] - The front-end semiconductor market is expected to remain paused throughout the year, while back-end applications are anticipated to improve [39] Other Important Information - The company generated $2.6 million of operating cash during the quarter, with total debt of $15 million and cash and equivalents of $19.8 million at the end of Q4 [27][28] - A renewed stock repurchase plan was announced, reflecting confidence in long-term value creation [41] Q&A Session Summary Question: Are there any cancellations in the pipeline? - Management indicated that there are no cancellations, only timing issues with some customers changing products [46] Question: Was the strong performance in life sciences driven by a few customers or broad-based? - The strong orders were driven by broad-based demand for induction heating solutions [48] Question: What is the outlook for revenue guidance? - The higher end of the revenue guidance is expected to be driven by backlog deliveries in the second half of the year, with gradual improvements anticipated [50][51] Question: Can you provide more detail on the cadence of revenue by end market for 2025? - Management expects stronger performance in the second half of 2025, particularly in back-end markets, while the auto sector remains uncertain [56][58] Question: What is the status of the M&A pipeline? - The company remains active in the M&A market, looking for strategic opportunities while being cautious about valuations [61][62] Question: Will the aspirational 2027 revenue target be discussed in the upcoming investor day? - Management confirmed that they will discuss the 2027 target and their belief in achieving it during the investor day [78]

inTEST Corporation (NYSE:INTT) Q4 2024 Results Conference Call March 7, 2025 8:30 AM ET Company Participants Shawn Southard - Investor Relations Nick Grant - President and Chief Executive Officer Duncan Gilmour - Chief Financial Officer and Treasurer Conference Call Participants Jason Schmidt - Lake Street Capital Markets Ted Jackson - Northland Securities Richard Ryan - Oak Ridge Financial Operator Greetings, and welcome to the inTEST Corporation Fourth Quarter 2024 Financial Results. At this time, all par ...

InTest Corporation (INTT) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 64.29%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.10, delivering a surprise of 42.86%.Over the last four quarters, the compa ...

Financial Performance - Fourth quarter 2024 revenue reached $36.6 million, a 31.3% increase year-over-year[4] - Operating income for the fourth quarter grew 87.5% to $2.1 million, representing 5.7% of sales[4] - Net earnings increased 3.4% to $1.5 million, with adjusted net earnings rising 45.7% to $2.8 million[4] - Gross margin for the fourth quarter was 39.7%, impacted by a 430 basis point reduction due to a one-time inventory step-up expense[4] - Total revenue for 2024 was $130.7 million, a 6.0% increase from 2023, with Alfamation contributing $25.0 million[13] - Revenue for the fourth quarter of 2024 increased by 31% year-over-year, reaching $36,603,000 compared to $27,884,000 in the fourth quarter of 2023[50] - Adjusted net earnings for the fourth quarter of 2024 were $2,782,000, up from $1,910,000 in the fourth quarter of 2023[55] - Earnings per diluted share for the fourth quarter of 2024 were $0.23, compared to $0.16 in the same quarter of the previous year[55] - Total revenue for the year ended December 31, 2024, was $130,690 million, compared to $123,302 million in 2023[56] Orders and Backlog - Orders improved 11% year-over-year to $30.7 million, with backend semi orders up 18% year-over-year[4] - Fourth quarter 2024 orders reached $30.7 million, an increase of 11% year-over-year and 9% sequentially[17] - Backlog at December 31, 2024, was $39.5 million, with approximately 50% expected to ship beyond Q1 2025[18] - Total orders for the year ended December 31, 2024, were $107,704,000, a decrease of 7.7% from $116,632,000 in 2023[49] - The Semiconductor segment saw orders of $44,574,000 for the year, representing a 24.8% decline from $59,297,000 in 2023[49] - The Auto/EV segment experienced significant growth, with orders increasing by 90.2% to $19,390,000 from $10,193,000 year-over-year[49] Cash Flow and Debt - The company generated $3.8 million in cash from operations in 2024 and paid down $7.8 million in debt[4] - Cash and cash equivalents at the end of Q4 2024 were $19.8 million, with total debt reduced to $15.0 million[15] - The company’s cash and cash equivalents decreased to $19.8 million at the end of 2024, down from $45.3 million at the end of 2023[41] - The company reported a net cash provided by operating activities of $3.8 million for 2024, a decrease from $16.2 million in 2023[44] Market Segments - Alfamation contributed $8.5 million in revenue during the fourth quarter, primarily from the automotive/EV market[10] - inTEST's revenue from the Auto/EV market skyrocketed by 199.6% year-over-year, reaching $11.9 million in Q4 2024[47] - The Defense/Aerospace segment also saw significant growth, with revenue increasing by 113.5% to $5.2 million in Q4 2024[47] - The Environmental Technologies segment generated revenue of $7,063,000 in Q4 2024, slightly up from $7,623,000 in Q4 2023[51] Strategic Initiatives - The company plans to consolidate operations in the Netherlands, expecting $0.6 million in restructuring costs and $0.5 million in annualized savings starting in 2026[5] - Capital expenditures for 2025 are planned to be approximately 1% to 2% of revenue[19] - The effective tax rate for 2025 is expected to be around 18%[19] - The company made a strategic acquisition in 2024, resulting in a net cash payment of $18.7 million[44] Financial Ratios and Metrics - Adjusted EBITDA for Q4 2024 was $4,412 million, with an adjusted EBITDA margin of 12.1%[56] - Net earnings for the year ended December 31, 2024, were $2,891 million, with a net margin of 2.2%[56] - Adjusted EBITDA for the year ended December 31, 2024, was $10,818 million, down from $15,807 million in 2023[56] - Income tax expense for Q4 2024 was $298 million, compared to $111 million in Q4 2023[56] - Stock-based compensation for the year ended December 31, 2024, was $1,857 million, down from $2,047 million in 2023[56] - Net interest expense for Q4 2024 was $109 million, compared to a net interest income of $(340) million in Q3 2024[56]

Core Insights - Prodigy USA LLC has formed a strategic partnership with inTEST Environmental Technologies to distribute iTS Thermonics® Ultra-Low Temperature and Cryogenic Chillers for cannabinoid-related applications in various industries [1][2][3] Group 1: Partnership Overview - The collaboration combines Prodigy's ultra-cold cannabis oil extraction systems, which operate at temperatures as low as -300°F, with iTS Thermonics® technology that provides cooling solutions at -80°C to sub -100°C [2][3] - This partnership eliminates the need for winterization in cannabis and hemp processing, resulting in time and cost savings while maximizing yields and throughput [3][4] Group 2: Industry Impact - The partnership is expected to drive innovation in cannabis and hemp processing, setting new benchmarks for temperature control in biomedical and pharmaceutical applications [5] - Both companies emphasize their commitment to delivering sustainable, efficient, and reliable solutions that empower customers to achieve optimal results [5] Group 3: Company Profiles - Prodigy Processing Solutions is recognized as a leading provider of life science equipment for the cannabis and hemp extraction and processing industries, focusing on cutting-edge engineering and customer service [6] - inTEST Environmental Technologies specializes in high-performance thermal management equipment, with a product line that includes precision temperature control solutions for various applications [7]