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Dec 31, 2020
inTEST Q4 2020 Earnings Report
Reported fourth quarter and year-end financial results for 2020.
Key Takeaways
inTEST Corporation reported a strong fourth quarter with bookings increasing 22% sequentially and 58% year-over-year. Net revenues increased 3% sequentially and 9% year-over-year. The company's backlog increased by $5.9 million compared to the end of 2019.
Q4 2020 bookings increased 22% sequentially and 58% year-over-year.
Backlog grew by $5.9 million to $11.5 million at the end of 2020 compared to the end of 2019.
Net revenues increased 3% sequentially and 9% year-over-year.
Company expects to approach record bookings levels for the first quarter of 2021.
Forward Guidance
inTEST's guidance for the first quarter of 2021 includes net revenues in the range of $18.5 million to $19.5 million, GAAP net earnings per diluted share between $0.18 and $0.22, non-GAAP adjusted net earnings per diluted share between $0.21 and $0.25, and gross margin between 49% and 51%.
Positive Outlook
- Net revenues for Q1 2021 are expected to be in the range of $18.5 million to $19.5 million.
- GAAP net earnings per diluted share for Q1 2021 are expected to range from $0.18 to $0.22.
- Non-GAAP adjusted net earnings per diluted share for Q1 2021 are expected to range from $0.21 to $0.25.
- Gross margin is expected to range from 49% to 51%.
- Company expects to approach record bookings levels for the first quarter of 2021.
Challenges Ahead
- The outlook is based on the Company’s current views with respect to operating and market conditions and customers’ forecasts, which are subject to change.
- Actual results may differ materially as a result of, among other things, the factors described under “Forward-Looking Statements”.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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