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Sep 30, 2024
inTEST Q3 2024 Earnings Report
Achieved strong gross margin and order growth
Key Takeaways
inTEST Corporation reported a solid third quarter with revenue of $30.3 million, gross margin of 46.3%, and earnings per diluted share of $0.04. The company generated $4.2 million in cash from operations, paid down $5.3 million in debt, and repurchased $1 million in shares.
Gross margin expanded 570 basis points compared with the second quarter 2024, reaching 46.3% despite a $3.7 million decrease in revenue.
Operating income increased sequentially by $0.2 million, and the operating margin expanded by 60 basis points due to improved mix, cost actions, and operational execution.
Orders grew 5% year-over-year and 7% sequentially to $28.1 million, with Alfamation orders improving 21% sequentially.
Earnings per diluted share was $0.04, while adjusted earnings per diluted share was $0.10.
inTEST
inTEST
inTEST Revenue by Segment
inTEST Revenue by Geographic Location
Revenue by Segment
Electronic Test Revenue
CapyFin.comEnvironmental Technologies Revenue
CapyFin.comProcess Technologies Revenue
CapyFin.comRevenue by Geographic Location
Semi Revenue
CapyFin.comAuto/EV Revenue
CapyFin.comDefense/Aerospace Revenue
CapyFin.comIndustrial Revenue
CapyFin.comLife Sciences Revenue
CapyFin.comSafety/Security Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company has tightened the overall range of its expectations for the full year and is providing its fourth quarter financial guidance.
Positive Outlook
- Revenue is expected to be between $34 million and $37 million.
- Gross margin is expected to be approximately 42%.
- Operating expenses are expected to be approximately $13.5 million.
- Intangible asset amortization expense is expected to be approximately $0.9 million.
- Intangible asset amortization expense after tax is expected to be approximately $0.7 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income