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inTEST (INTT) - 2021 Q3 - Quarterly Report
2021-11-12 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q inTEST Corporation (Exact Name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of incorporation or organization) 22-2370659 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fr ...
inTEST (INTT) - 2021 Q3 - Earnings Call Transcript
2021-11-05 19:13
Financial Data and Key Metrics Changes - The company achieved year-over-year net revenue growth of 46% to $21.1 million, driven by strong global demand for semiconductors and recovery in industrial sectors [8][26] - Gross margin for the third quarter was 49.2%, compared to 50.2% in the second quarter of 2021 and 44.7% a year ago, reflecting higher component material costs and changes in product mix [28] - Net earnings for the third quarter were $2.2 million or $0.20 per diluted share, compared to $2.6 million or $0.24 per diluted share in the second quarter [33] Business Line Data and Key Metrics Changes - Multimarket revenue grew 22% sequentially, fueled by strength in the industrial market, while the semiconductor business remained at historically high levels despite a sequential dip [26][27] - The company generated $4.3 million of cash from operations in the third quarter, increasing the year-to-date total cash generated to $8.1 million [10][37] Market Data and Key Metrics Changes - Orders for the third quarter were $21.1 million, a 47% increase over the same period last year, supported by growth in both Multimarket and Semiconductor markets [41] - The backlog at quarter-end was $20.4 million, with approximately 75% expected to convert to sales in the fourth quarter [44] Company Strategy and Development Direction - The company is focused on a five-point strategy aimed at driving growth, diversifying markets, and ensuring the right talent is in place [7] - Recent acquisitions, Z-Sciences and Videology, are intended to enhance product offerings and expand into high-growth markets, particularly in Life Sciences [11][15][24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing supply chain constraints and inflationary pressures but expressed confidence in the company's ability to manage these challenges [8][29] - The company expects revenue for the fourth quarter to be in the range of $21.5 to $22.5 million, with gross margins expected to be consistent with the third quarter [46] Other Important Information - The company executed a new five-year credit agreement, providing additional liquidity to pursue acquisition opportunities [36] - The total addressable market for Z-Sciences is approximately $200 million, while the market for Videology is estimated at over $20 billion [93] Q&A Session Summary Question: Does Q4 guidance assume the ability to ship all demand? - Management confirmed that Q4 guidance accounts for potential supply chain constraints [55][56] Question: What revenue contribution is expected from the acquisitions? - The expected revenue contribution from the combined acquisitions in Q4 is around $1.5 million, with Z-Sciences having minimal revenue initially [57] Question: How is the marketing campaign for Multimarket performing? - The campaign has generated a strong level of qualified leads and is currently in the application testing phase with potential customers [63] Question: What is the outlook for the Semiconductor business? - Management is bullish on the Semiconductor sector, citing positive trends and increased customer engagement [65] Question: What is the go-to-market strategy for Life Sciences? - The strategy involves leveraging existing distributor networks and adding direct sales channels to enhance market presence [72] Question: What is the expected operating expense range for Q4? - Expected operating expenses are projected to be in the range of $9 million to $9.2 million, with additional costs related to acquisitions [78] Question: What is the liquidity position at year-end? - The company anticipates approximately $40 million in liquidity exiting the year, factoring in cash and available credit [82]
inTEST (INTT) Colliers Institutional Investor Conference Presentation - Slideshow
2021-09-16 20:18
inTEST Corporation Innovative Test & Process Solutions Colliers Institutional Investor Conference September 9, 2021 Nick Grant President and CEO Duncan Gilmour Treasurer and CFO Safe Harbor Statement This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of our plans, strategie ...
inTEST (INTT) - 2021 Q2 - Quarterly Report
2021-08-12 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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 incorporati ...
inTEST (INTT) - 2021 Q2 - Earnings Call Transcript
2021-08-06 17:58
inTEST Corporation (NYSE:INTT) Q2 2021 Earnings Conference Call August 6, 2021 8:30 AM ET Company Participants Laura Guerrant – Investor Relations Consultant Nick Grant – President and Chief Executive Officer Duncan Gilmour – Treasurer and Chief Financial Officer Conference Call Participants Jaeson Schmidt – Lake Street Peter Wright – Intro-act Dick Ryan – Colliers George Melan – MKH Management Peter Wright – Intro-act Operator Welcome to inTEST Corporation’s 2021 Second Quarter Financial Results Conference ...
inTEST (INTT) - 2021 Q1 - Quarterly Report
2021-05-13 20:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 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 (S ...
inTEST (INTT) - 2021 Q1 - Earnings Call Transcript
2021-05-08 05:54
inTEST Corporation (NYSE:INTT) Q1 2021 Earnings Conference Call May 7, 2021 8:30 AM ET Company Participants Laura Guerrant-Oiye - Investor Relations Consultant Richard Grant - President and Chief Executive Officer Hugh Regan - Secretary, Treasurer and Chief Financial Officer Conference Call Participants Jaeson Schmidt - Lake Street Capital Markets, LLC Dick Ryan - Colliers & Company Tom Diffely - D.A. Davidson & Co. Operator Welcome to inTEST Corporation’s 2021 First Quarter Financial Results Conference Cal ...
inTEST (INTT) - 2021 Q1 - Earnings Call Presentation
2021-05-07 18:26
| --- | --- | --- | |--------------------------------------------------------|---------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Innovative Test | & Process Solutions | | | 2021 Q1 Financial Results Conference Call Presentation | | | | Nick Grant May 7, 2021 | Hugh Regan | | | President and CEO | Treasurer and CFO | | 1 inTEST Corporation (NYSE American: INTT) This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Ac ...
inTEST (INTT) - 2020 Q4 - Annual Report
2021-03-23 20:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (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, 2020 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 ...
inTEST (INTT) - 2020 Q4 - Earnings Call Transcript
2021-03-05 18:20
inTEST Corporation (NYSE:INTT) Q4 2020 Earnings Conference Call March 5, 2021 8:30 AM ET Company Participants Laura Guerrant - Investor Relations Consultant Nick Grant - President and Chief Executive Officer Hugh Regan - Treasurer and Chief Financial Officer Conference Call Participants Jaeson Schmidt - Lake Street Peter Wright - Intro-act Dick Ryan - Colliers George Melas - MKH Management Operator Welcome to the inTEST Corporation 2020 Fourth Quarter Financial Results Conference Call. At this time, all par ...