INTT

InTest Corporation Launches VISION 2030 Strategy: InTest Corporation rang the opening bell at the NYSE to announce its new growth strategy, VISION 2030, aimed at expanding business, increasing margins, and enhancing shareholder value.

Company Overview and Future Outlook: InTest is a global supplier of test and process technology solutions across various industries, with a focus on organic growth and acquisitions, while also acknowledging potential risks that could impact their future performance.

InTest Corporation's Growth Strategy: InTest Corporation is set to present its VISION 2030 strategy aimed at achieving significant revenue growth and profitability over the next five years, targeting a revenue goal of $235 million to $285 million through organic growth and acquisitions.

Leadership and Progress: The company's executives will highlight their strategic achievements since 2021, emphasizing operational excellence and innovation, while also addressing potential risks and uncertainties that could impact future performance.

Investor & Analyst Strategy Briefing: inTEST Corporation will host an Investor & Analyst Strategy Briefing on March 26, 2025, at the New York Stock Exchange, where executives will discuss the company's five-year financial targets and plans. The event will be webcast live with a Q&A session following the presentations.

Company Overview: inTEST Corporation specializes in test and process technology solutions across various sectors including semiconductor, automotive, defense, and life sciences, aiming for growth through innovation and market expansion while maintaining strong financial performance.

Analyst Ratings: Ted Jackson from Northland Securities has maintained a Buy rating on inTEST (INTT) with a price target of $15.00, while the analyst consensus indicates a Strong Buy with an average price target of $13.00, suggesting significant upside potential.

Company Performance: inTEST reported quarterly revenue of $30.27 million and a net profit of $495 thousand for the quarter ending September 30, showing a decline in revenue and profit compared to the previous year.

Analyst Rating Update: Northland analyst Ted Jackson has reduced the price target for inTEST (INTT) from $16 to $15 while maintaining an Outperform rating, citing better-than-expected Q4 results but lower FY25 guidance than consensus.

Business Uncertainty: The analyst notes that uncertainty regarding tariffs is contributing to concerns about the company's future business performance.

Earnings Reports: Major companies such as Genesco, inTEST, Mammoth Energy Services, Algonquin Power & Utilities, and Advantage Solutions are set to report earnings today, with expected stock movements indicated by options prices.

Options Trading Insights: Investors can track the implied moves of these stocks based on options activity, which provides insights into potential stock performance following the earnings announcements; however, options trading carries risks that require thorough research.

Stock Repurchase Plan Renewal: inTEST Corporation has renewed its $10 million stock repurchase plan, with approximately $9 million remaining, reflecting confidence in the company's long-term growth and value creation through innovative solutions in key markets.

Company Overview: inTEST Corporation specializes in test and process technology solutions for various industries, including semiconductor, automotive, and life sciences, and aims to expand its market presence while managing capital effectively.

Financial Performance Overview: inTEST Corporation reported record revenue of $36.6 million for Q4 2024, driven by growth in defense/aerospace, semiconductor, and life sciences markets, despite challenges in end markets and a cautious outlook for 2025.

Strategic Developments: The company plans to consolidate operations to enhance efficiency and expects restructuring costs of approximately $0.6 million in 2025, while continuing to focus on organic growth and geographic expansion initiatives.

Stock Repurchase Plan: inTEST has renewed its $10 million stock repurchase plan, with approximately $9 million remaining for additional purchases after repurchasing 141.1K shares for $1.04M since the plan's initiation.

Financial Performance: The company reported a Non-GAAP EPS of $0.23, exceeding expectations by $0.09, and generated revenue of $36.6M, surpassing estimates by $1.27M.

Q4 Financial Performance: inTEST reported a Q4 Non-GAAP EPS of $0.23, exceeding expectations by $0.09, with revenue of $36.6 million reflecting a 31.3% year-over-year increase and beating estimates by $1.27 million.

2025 Outlook: The company anticipates full-year 2025 revenue between $125 million to $135 million, with gradual profitability improvement, while first quarter revenue is projected at $27 million to $29 million amid customer order delays and market uncertainties.

Analyst Rating: Northland Securities analyst Ted Jackson has maintained a Buy rating on inTEST (INTT) with a price target of $16.00, while the current analyst consensus is a Moderate Buy with an average price target of $15.00.

Company Performance: inTEST has experienced a one-year high of $14.35 and a low of $6.28, with an average trading volume of 38.25K shares.

Upcoming Earnings Reports: Major companies set to report earnings before the market opens on Friday include Algonquin Power & Utilities, AltaGas, inTEST, Lifeward, McEwen Mining, Oncolytics Biotech, and WhiteHorse Finance.

Earnings Calendar Access: For a complete earnings season calendar, readers are directed to Seeking Alpha's website.

Stock Repurchase Plan Renewal: inTEST Corporation has renewed its $10 million stock repurchase plan, with $9 million remaining available for purchases through November 2024, reflecting the company's confidence in long-term growth.

Market Performance: The company's stock closed at $7.79, a decrease of 4.06%, but rose to $8 after market hours, indicating some recovery.

Strategic Partnership Announcement: InTest Corporation's division, InTest EMS Products, has entered into a strategic agreement with General Bussan, a major sales agent in Japan's semiconductor industry, to promote and sell their semiconductor testing solutions in Japan.

Market Expansion Goals: The partnership aims to leverage General Bussan's established customer relationships and expertise to enhance the reach of InTest EMS's high-quality products in the Japanese semiconductor market.

Strategic Partnership Announcement: inTEST Electronic Test has formed a strategic agreement with General Bussan Co., Ltd. to serve as the exclusive distributor of inTEST EMS Products in Japan, focusing on promoting their automated test equipment solutions for the semiconductor industry.

Market Expansion Goals: The partnership aims to leverage General Bussan's established customer relationships and industry expertise to enhance the reach of inTEST EMS Products in Japan, addressing an underserved market with high-quality testing solutions.

Strategic Agreement: inTEST EMS Products has entered into a strategic agreement with General Bussan Co., Ltd. to enhance its distribution and manufacturing capabilities in the semiconductor industry in Japan.

Market Positioning: The partnership aims to strengthen inTEST's market presence and expand its geographic reach within the semiconductor sector.

New Distributor Partnerships: inTEST Corporation has signed General Bussan Co., Ltd. as its exclusive distributor in Japan for EMS Products, aiming to enhance its presence in the semiconductor market, and partnered with Prodigy Processing Solutions to distribute ultra-low temperature chillers for the cannabis and hemp industries.

Strategic Growth Initiatives: These partnerships are part of inTEST's 5-Point Strategy to expand geographic reach and deepen market opportunities, leveraging strong customer relationships and innovative technologies to drive growth in key sectors.

Company Announcement: inTEST Corporation will host investor meetings at the Needham Growth Conference on January 16, 2025, featuring presentations by President & CEO Nick Grant and CFO Duncan Gilmour.

About inTEST Corporation: The company specializes in test and process technology solutions across various industries, including automotive, defense, life sciences, and semiconductor manufacturing, focusing on innovation and operational excellence.

inTEST Corporation Participation: inTEST Corporation will participate in the 13th Annual NYC Summit investor conference on December 17th, where President & CEO Nick Grant and CFO Duncan Gilmour will present in a round-robin format for accredited investors and analysts.

Company Overview: inTEST is a global supplier of test and process technology solutions across various industries, including automotive, defense, and semiconductor manufacturing, focusing on solving complex challenges while aiming for organic growth and acquisitions.