The following is a summary of the InTEST Corporation (INTT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• InTEST Corporation reported Q1 revenue of nearly $30 million, slightly higher than expected, while gross margin was lower at $43.8 due mainly to the timing of the Alfamation acquisition.

• Earnings per share (EPS) was $0.05, $0.10 on an adjusted basis. Alfamation, owned for around 2.5 weeks in the quarter, contributed $1.4 million to the revenue. The company ended the quarter with $27 million in cash after the Alfamation acquisition where around $19 million was used.

• For Q2 2024, InTEST expects revenue to be between $34 million to $36 million. The expected revenue range for 2024 is $140 million to $150 million.

Business Progress:

• The acquisition of Alfamation aims to further diversify the company's market presence, aligning with their 5-Point growth strategy focused in diversified markets.

• The company is focused on customer acquisition and expanding their current solution portfolio. They are eager for the new customers brought in with Alfamation.

• A major emphasis is being put on innovation, speeding up the development of new products such as the SCAiLX new vision camera and the new Benchtop Thermostream.

• Despite delays, the setup of the new facility in Malaysia is progressing with the hiring of staff and awaiting final permits. This signifies an intent to fortify their position in Southeast Asia.

More details: inTEST IR

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