inTEST (US:INTT)2025-03-13 20:05Financial Performance - As of December 31, 2024, the backlog of unfilled orders was $39.5 million, a slight decrease from $40.1 million at the same date in 2023[118] - The company spent approximately $8.5 million on engineering and product development in 2024, compared to $7.6 million in 2023, reflecting a 11.8% increase[106] Workforce and Employment - The company employed around 100 engineers in engineering and product development as of December 31, 2024[105] - The company has a total of 425 employees, with 393 being full-time, as of December 31, 2024[120] Intellectual Property - At December 31, 2024, the company held 21 active U.S. patents, with 9 patents expiring during 2024[112] - The company is committed to protecting its intellectual property through patents and other proprietary rights[107] Quality Assurance - The company has ISO 9001:2015 certification for its Massachusetts, New York, and Canada facilities, ensuring compliance with quality standards[103] - The company utilizes sophisticated measurement equipment for inspections to ensure product quality[102] Manufacturing Operations - The company’s manufacturing operations are located in the U.S., Italy, Canada, Germany, and the Netherlands, focusing on high-quality raw materials and components[101] Competition - The company’s principal competitors include Advantest Corporation and Teradyne, Inc., among others, in various product segments[115][116]