inTEST Corp (INTT) Reports Q2 EPS of $0.14 on Revenues of $15.888M

inTEST Corp (NYSE: INTT) reported Q2 EPS of $0.14. Revenue for the quarter came in at $15.88 million, versus $0 reported last year.

2017 Second Quarter Summary

• Second quarter 2017 bookings were $14.6 million, compared with first quarter 2017 bookings of $15.0 million and second quarter 2016 bookings of $12.6 million. Second quarter 2017 results include the acquisition of Ambrell Corporation, which was completed May 24, 2017. Second quarter 2017 bookings excluding Ambrell were $12.3 million. -- $5.9 million, or 40%, of second quarter bookings were derived from non-ATE, compared with second quarter 2016 non-ATE bookings of $4.4 million, or 35%.
• Second quarter 2017 net revenues were $15.9 million, compared with first quarter 2017 net revenues of $14.2 million and second quarter 2016 net revenues of $10.5 million. Second quarter 2017 net revenues excluding Ambrell were $13.9 million. -- $5.7 million, or 36%, of second quarter 2017 net revenues were derived from non-ATE, compared with second quarter 2016 non-ATE revenues of $2.5 million, or 24%.
• Second quarter 2017 gross margin was $8.4 million, or 53%, compared with first quarter 2017 gross margin of $7.7 million, or 55%, and second quarter 2016 gross margin of $5.3 million, or 51%.
• On a GAAP basis, second quarter 2017 net earnings were $1.4 million, or $0.14 per diluted share, compared with first quarter 2017 net earnings of $2.1 million, or $0.20 per diluted share, and second quarter 2016 net earnings of $486,000, or $0.05 per diluted share. Consolidated results for the second quarter of 2017 included Ambrell transaction related expenses of $849,000. -- On a non-GAAP basis, second quarter 2017 adjusted net earnings were $1.7 million, or $0.16 per diluted share, compared with first quarter 2017 adjusted net earnings of $2.1 million, or $0.21 per diluted share, and second quarter 2016 adjusted net earnings of $523,000 or $0.05 per diluted share.
• Cash and cash equivalents at June 30, 2017 were $7.6 million, compared with $27.5 million at March 31, 2017.

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

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