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Dec 31, 2023
inTEST Q4 2023 Earnings Report
inTEST reported a decrease in revenue due to lower sales in the semi market, offset by growth in industrial, auto/EV, and defense/aerospace markets. Net earnings were $1.5 million, or $0.12 per diluted share.
Key Takeaways
inTEST Corporation reported its Q4 2023 financial results, with revenue down primarily due to lower sales to the semi market, which was partially offset by increases in the industrial, auto/EV, and defense/aerospace markets. The company generated $4.7 million in cash from operations during the quarter. Fourth quarter orders improved 2% over the prior quarter driven by defense/aerospace and industrial markets.
Fourth quarter orders improved 2% over the prior quarter driven by defense/aerospace and industrial markets.
Full year revenue was a record $123.3 million, up 6% over the prior year.
The company generated $4.7 million in cash from operations in the fourth quarter and $16.2 million in 2023.
The recent acquisition of Alfamation adds significant test and automation capabilities.
inTEST
inTEST
Forward Guidance
The Company’s guidance for 2024 is as follows: Revenue $145 million to $155 million and Gross margin 45% to 46%.