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inTEST Corp (INTT) Tops Q3 EPS by 1c, Revenues Beat

November 10, 2020 6:02 AM

inTEST Corp (NYSE: INTT) reported Q3 EPS of $0.07, $0.01 better than the analyst estimate of $0.06. Revenue for the quarter came in at $14.4 million versus the consensus estimate of $14.01 million.

“We are pleased with our financial results for the third quarter,” commented inTEST President and CEO Nick Grant. “We delivered solid results in line with our expectations, resulting in sequential revenue and profitability growth. Net revenues of $14.4 million grew 9% and non-GAAP adjusted net earnings per diluted share of $0.07 increased from $0.05 as compared to the second quarter of 2020.” Mr. Grant added, “We are seeing improving conditions in most markets we serve and had good order activity from new customers during the third quarter. While COVID-related challenges continue to impact the overall operating environment, order flow has continued to strengthen, with third quarter bookings of $14.4 million increasing 4% from the second quarter.”

Mr. Grant continued, “We are operating in a challenging environment that rewards innovation and are meeting the demanding requirements of our customers with an impressive breadth of products to serve our global customer base. As we continue to strengthen our capabilities and enhance our position in the industry, we are building an enduring business.”

For earnings history and earnings-related data on inTEST Corp (INTT) click here.

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