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Mar 31, 2020
inTEST Q1 2020 Earnings Report
Reported a decrease in revenue and a net loss due to increased fixed manufacturing costs.
Key Takeaways
inTEST Corporation reported a decrease in net revenues and a net loss for the first quarter of 2020, with net revenues at $11.2 million and a net loss of $1.1 million, or $(0.11) per diluted share. Bookings increased by 24% from the previous quarter, while gross margin decreased to 43%. Operating loss was $(1.4) million.
Bookings were $13.8 million, up 24% from Q4 2019 and 16% from Q1 2019.
Net revenues were $11.2 million, down 18% from Q4 2019 and 38% from Q1 2019.
Gross margin was 43%, down from 48% in Q4 2019 and 49% in Q1 2019.
Net loss was $(1.1) million or $(0.11) per diluted share, down from net earnings of $724,000 or $0.07 per diluted share in Q4 2019.
Forward Guidance
Our effective tax rate will range from 16% to 17% throughout the balance of 2020
Historical Earnings Impact
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Avg. Return Before/After Earnings
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