The following is a summary of the InTEST Corporation. (INTT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• inTEST Corporation reported a Q3 revenue of $30 million, with revenue impacted by $2 million in shipments delayed to Q4.

• Gross margin achieved was 46.3%, showing improvement driven by favorable product mix, improved volume from high-margin back-end semi segments, and cost actions.

• Operating expenses rose by $1.5 million year-over-year due to the inclusion of Alfamation's operating expenses, though offset by cost reductions elsewhere.

• Net earnings amounted to $495,000, translating to $0.04 per diluted share, with adjusted net earnings of $1.2 million or $0.10 per diluted share.

Business Progress:

• inTEST Corporation is experiencing a phase of integrating Alfamation, focusing on product and technology synergies, and exploring new markets, such as automotive and consumer electronics.

• The company has seen a rise in orders across diversified markets and sequential growth in the back-end semi market.

• Efforts in innovation, such as introducing an automated manipulator with IntelliDOCK in Europe and developing next-gen solutions like the EKOHEAT 2 induction heating system, underline the strategy to maintain competitiveness.

Opportunities:

• The company is seeing opportunities for growth and expansion in back-end semi markets, suggesting a recovery from previous troughs.

• Recognizing the emerging importance of gallium nitride technology in power semiconductors could open new markets for inTEST.

Risks:

• The front-end semi market is currently experiencing a pause, affecting short-term growth projections in this segment.

• Ongoing global economic uncertainties and their impact on capital expenses across industries could delay recovery and affect order inflow.

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