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inTEST
🇺🇸 NYSE:INTT
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•
Jun 30, 2021

inTEST Q2 2021 Earnings Report

Delivered solid financial results, exceeding topline guidance with revenue increase and strong EPS growth.

Key Takeaways

inTEST reported strong Q2 2021 financial results, with net revenues exceeding guidance, increasing 12% sequentially and 64% year-over-year. GAAP EPS increased to $0.24, and non-GAAP adjusted net earnings per diluted share reached $0.27, at the high-end of guidance.

Net revenues of $21.8 million exceeded guidance, with a 12% sequential increase and a 64% year-over-year increase.

GAAP earnings per share of $0.24 increased sequentially and year-over-year.

Non-GAAP adjusted net earnings per diluted share was $0.27, at the high-end of guidance.

Company is investing in growth opportunities outside of the semiconductor market, such as electric vehicles, cannabis, and the medical market.

Total Revenue
$21.8M
Previous year: $13.3M
+64.4%
EPS
$0.27
Previous year: $0.05
+440.0%
Gross Profit
$11M
0
Cash and Equivalents
$0
0
Free Cash Flow
$4.12M
Previous year: $90K
+4482.2%
Total Assets
$70.7M
Previous year: $59.9M
+18.1%

inTEST

inTEST

Forward Guidance

inTEST expects net revenues for the 2021 third quarter to be in the range of $20.5 million to $21.5 million. On a GAAP basis, net earnings per diluted share will range from $0.18 to $0.22. On a non-GAAP basis, adjusted net earnings per diluted share will range from $0.21 to $0.25. Gross margin is expected to range from 49% to 51%.

Positive Outlook

  • Net revenues for Q3 2021 are expected to be between $20.5 million and $21.5 million.
  • GAAP net earnings per diluted share for Q3 2021 are projected to be between $0.18 and $0.22.
  • Non-GAAP adjusted net earnings per diluted share for Q3 2021 are expected to be between $0.21 and $0.25.
  • Gross margin for Q3 2021 is anticipated to range from 49% to 51%.
  • The outlook is based on the Company’s current views with respect to operating and market conditions and customers’ forecasts.

Challenges Ahead

  • Actual results may differ materially as a result of various factors.
  • Changes in the market cycles in the Semi Market or other markets could impact results.
  • Changes in business conditions and general economic conditions both domestically and globally could impact results.
  • Changes in the demand for semiconductors could impact results.
  • The impact of the COVID-19 pandemic on the business, liquidity, financial condition and results of operations could impact results.

Company Overview

Full financial data and analysis

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