Revenue Performance - The company reported total revenue of $30,272 million for the three months ended September 30, 2024, a decrease of 2.2% compared to $30,941 million in the same period of 2023[166]. - Revenue from the semiconductor market was $11,410 million, representing a significant decline of 38.2% from $18,476 million in the prior year[166]. - The automotive/electric vehicle segment saw a remarkable increase in revenue to $6,250 million, up 252.1% from $1,775 million year-over-year[166]. - The industrial segment revenue increased by 43.9% to $3,534 million compared to $2,456 million in the same quarter last year[166]. - Life sciences revenue remained relatively stable at $1,322 million, a slight decrease of 0.6% from $1,330 million in the previous year[166]. - Consolidated revenue for the nine months ended September 30, 2024, was $94.1 million, a decrease of $1.3 million compared to $95.4 million for the same period in 2023[168]. - Revenue for Q3 2024 was $30.3 million, a decrease of 2% from $30.9 million in Q3 2023, with $5.4 million attributed to the acquisition of Alfamation[182]. - Revenue for the nine months ended September 30, 2024 was $94.1 million, a decrease of 1% from $95.4 million in the same period in 2023, with Alfamation contributing $16.5 million[188]. Acquisitions and Market Strategy - The company completed the acquisition of Alfamation for approximately $21.9 million, which includes $19.7 million in cash and $2.1 million in stock[164]. - The acquisition of Alfamation is expected to enhance the company's capabilities in the automotive and life sciences markets[164]. - The company aims to diversify its market presence beyond the semiconductor automated test equipment market to reduce dependence on cyclical market trends[156]. - The company is focused on expanding its presence in key target markets such as automotive, defense/aerospace, industrial, life sciences, and security, which are generally less cyclical than the semiconductor market[162]. - The company is pursuing acquisition opportunities for complementary businesses, technologies, or products as part of its growth strategy[206]. - During the nine months ended September 30, 2024, the company paid $18.7 million in net cash for the acquisition of Alfamation[208]. Orders and Backlog - Orders for the nine months ended September 30, 2024, totaled $77.0 million, down from $89.1 million in the same period in 2023, with a significant decline in the semi market orders[173]. - Backlog of unfilled orders as of September 30, 2024, was approximately $45.5 million, an increase from $40.5 million at the same time in 2023[175]. - Alfamation contributed $5.4 million in revenue for Q3 2024 and $16.5 million from the date of acquisition through September 30, 2024, primarily from the auto/EV market[168]. - Orders from the auto/EV market increased by 90.0% to $15.9 million for the nine months ended September 30, 2024, compared to $8.4 million in the same period in 2023[173]. Supply Chain and Operational Challenges - The company is facing supply chain challenges due to geopolitical conflicts, including the Israel-Hamas war and the war in Ukraine, which may impact future operations[176][177]. - The company maintains a safety stock of two-to-three months for critical components sourced from a sole supplier in Israel[176]. - The company is actively qualifying alternate suppliers to mitigate supply chain risks and expects to complete evaluations by Q1 2025[177]. Financial Metrics and Expenses - Gross margin for Q3 2024 was 46%, down from 47% in Q3 2023, primarily due to higher fixed operating costs and increased direct labor from Alfamation[183]. - Engineering and product development expense increased by 21% to $2.2 million in Q3 2024, reflecting additional costs from Alfamation[185]. - General and administrative expense rose by 20% to $7.1 million in Q3 2024, with Alfamation accounting for approximately $1.7 million of this expense[186]. - Gross margin for the nine months ended September 30, 2024 was 44%, down from 47% in the same period in 2023, due to higher fixed operating costs and direct labor from Alfamation[189]. - General and administrative expense for the nine months ended September 30, 2024 increased by 26% to $20.2 million, with Alfamation contributing approximately $3.8 million[192]. Cash and Debt Management - As of September 30, 2024, cash and cash equivalents were $17.97 million, down from $45.26 million at December 31, 2023[204]. - The company anticipates that cash and cash equivalents, along with borrowing capacity under the Revolving Facility, will be sufficient to support short-term working capital requirements[205]. - The company repaid $5.5 million of long-term debt and $1.9 million of short-term debt during the nine months ended September 30, 2024[209]. - The company used $1.0 million to repurchase stock in the same period[209]. Accounting and Reporting - There have been no significant changes to the critical accounting estimates as of September 30, 2024[210]. - No off-balance sheet arrangements were reported during the three months ended September 30, 2024[211].

Core Viewpoint - inTest Corporation (INTT) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system tracks the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts for the current and following years, highlighting the importance of earnings revisions in stock valuation [1][4]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, driven by institutional investors who adjust their valuations based on these estimates [4][5]. Recent Developments for inTest - inTest is projected to earn $0.41 per share for the fiscal year ending December 2024, representing a year-over-year decline of 56.4%. However, analysts have raised their estimates by 17.1% over the past three months, indicating a positive trend [8]. - The upgrade to Zacks Rank 1 places inTest in the top 5% of Zacks-covered stocks, suggesting potential for higher stock prices in the near term due to improved earnings outlook [10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988, demonstrating the effectiveness of this rating system [7][9].

Core Viewpoint - The article emphasizes the importance of value investing and highlights inTest (INTT) as a strong value stock based on its financial metrics and Zacks Rank [1][5]. Company Summary - inTest (INTT) currently holds a Zacks Rank of 1 (Strong Buy) and has a Value grade of A, indicating strong potential for value investors [3]. - The stock is trading at a P/E ratio of 20.51, which is lower than the industry average of 21.51, suggesting it may be undervalued [3]. - INTT's Forward P/E has fluctuated between 8.14 and 21.66 over the past year, with a median of 13.24, indicating variability in its valuation [3]. - The P/CF ratio for INTT is 8.92, significantly lower than the industry average of 20.67, further supporting the notion that INTT is undervalued based on its cash flow outlook [4]. - INTT's P/CF has ranged from 6.66 to 12.40 in the past year, with a median of 8.76, reflecting its stable cash flow performance [4]. - Overall, the financial metrics suggest that inTest is likely undervalued and stands out as one of the strongest value stocks in the market [5].

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point for fast-moving stocks, which can lead to investments with limited upside or potential downside [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify suitable candidates [3] Group 2: InTest Corporation (INTT) Analysis - InTest Corporation (INTT) has shown a price increase of 4.1% over the past four weeks, indicating growing investor interest [4] - The stock has gained 4.9% over the past 12 weeks and has a beta of 1.92, suggesting it moves significantly more than the market [5] - INTT has a Momentum Score of A, indicating a favorable time to invest based on its momentum characteristics [6] Group 3: Earnings Estimates and Valuation - INTT has received a Zacks Rank 1 (Strong Buy) due to upward revisions in earnings estimates, which typically attract more investor interest [7] - The stock is currently trading at a Price-to-Sales ratio of 0.75, suggesting it is undervalued as investors pay only 75 cents for each dollar of sales [7] Group 4: Additional Investment Opportunities - Besides INTT, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [9]

Company Performance - InTest Corporation (INTT) reported quarterly earnings of $0.10 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, but down from $0.28 per share a year ago, representing an earnings surprise of 42.86% [1] - The company posted revenues of $30.27 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 8.18% and down from $32.66 million year-over-year [2] - Over the last four quarters, InTest has surpassed consensus EPS estimates three times but has topped consensus revenue estimates only once [2] Stock Performance - InTest shares have declined approximately 47.3% since the beginning of the year, contrasting with the S&P 500's gain of 19.6% [3] - The current Zacks Rank for InTest is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.11 on revenues of $33.63 million, and for the current fiscal year, it is $0.35 on revenues of $130.42 million [7] - The outlook for the Electronics - Measuring Instruments industry, where InTest operates, is currently in the top 20% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

InTest Corporation (INTT) came out with quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -46.67%. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.10, delivering a surprise of 25%. Over the last four quarters, the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 inTEST Corporation (Exact Name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of incorporation or organization) FORM 10-Q (Mark One) For the transition period from to ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commissio ...

InTest Corporation (INTT) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this company would post earnings of $0.13 per share when it actually produced earnings of $0.16, delivering a surprise of 23.08%.Over the last four quarters, the company ...

Exhibit 99.1 NEWS RELEASE Nick Grant, President and CEO, commented, "Our first quarter results continue to reflect the tempered semiconductor market conditions we saw exiting 2023. While down year-over-year, sequentially sales were up although margins were impacted by the timing of the acquisition, the mix in sales, and higher professional fees. On the order front and outlook, we saw a sudden shift in order trends as a number of opportunities which we had expected late in the quarter were either delayed or ...

Exhibit 99.1 for immediate release inTEST Reports Record $123.3 Million in Revenue and Net Income of $9.3 Million for Full Year 2023 MT. LAUREL, NJ - March 27, 2024 -- 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 automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor ("semi"), today announced financial results for the fourth quarter and ...