Intest Crop ( (INTT) ) has released its Q3 earnings. Here is a breakdown of the information Intest Crop presented to its investors.
inTEST Corporation is a global provider of innovative testing and process technology solutions, serving markets such as automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor. The company is known for its engineering expertise and operational excellence, offering services in both front-end and back-end semiconductor manufacturing.
In the third quarter of 2024, inTEST Corporation reported a gross margin of 46.3%, an increase from the previous quarter despite a slight decline in revenue. The company faced shipment delays but successfully improved its operating margin through strategic cost actions and operational efficiencies. Orders increased by 5% year-over-year, with notable growth in the automotive/EV and defense/aerospace sectors.
Key financial highlights from the quarter include a revenue of $30.3 million, a gross profit of $14.0 million, and an operating income increase of $0.2 million sequentially. The company generated $4.2 million in cash from operations, reduced its debt by $5.3 million, and repurchased $1 million in shares. Additionally, inTEST Corporation’s adjusted earnings per diluted share was reported at $0.10.
Looking ahead, inTEST Corporation remains optimistic about its long-term growth prospects, driven by innovation and market diversification. The management has noted a stabilization in targeted industries and expects continued demand for its technology solutions. The company is poised for growth with a focus on expanding its customer base and optimizing market channels.
