inTEST Corp (INTT) Tops Q4 EPS by 5c, Revenues Beat; Offers Q1 EPS/Revenue Guidance

inTEST Corp (NYSE: INTT) reported Q4 EPS of $0.23, $0.05 better than the analyst estimate of $0.18. Revenue for the quarter came in at $18.4 million versus the consensus estimate of $18 million.

“We continue to make significant progress in broadening our presence within the markets we serve as we diversify the company into a global world-class provider of thermal and ATE interface solutions for industrial manufacturing and electronic test,” commented inTEST President & CEO James Pelrin. “On the heels of a very strong first half of 2018, we delivered solid full year results driven by our diversified customer base of end users and OEMs, further demonstrating our strong execution and operating leverage. On a year-over-year basis, 2018 bookings and net revenues increased 13% and 18% respectively, which included the impact of the acquisition of Ambrell Corporation, which was completed on May 24, 2017. Excluding Ambrell, bookings declined 4% compared to 2017 and net revenues declined 2% compared to 2017. In addition, we marked our 9th consecutive year of profitability, a metric of which we are all very proud, as it speaks to the discipline and dedication exhibited by every inTEST employee.”

Mr. Pelrin added, “Our revenue is driven by the semiconductor industry, with end markets in the automotive sensors, Internet of Things and consumer electronics markets, while our non-semi business is driven by demand in the industrial and defense/aerospace markets. We continue to expand our customer base in the markets we serve, while growing our footprint in additional test and industrial process markets. Looking forward, our long-term drivers remain squarely in place and we see solid opportunities as we take advantage of robust markets where we have a strong focus (for example, semiconductor, Internet of Things, automotive including electric vehicle, industrial and defense/aerospace markets). We will continue to direct our resources in these key markets to further grow market share and broaden our customer base.”

GUIDANCE:

inTEST Corp sees Q1 2019 EPS of $0.13-$0.18, versus the consensus of $0.16. inTEST Corp sees Q1 2019 revenue of $18-19 million, versus the consensus of $18.15 million.

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

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