The following is a summary of the InTEST Corporation (INTT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• inTEST Corporation reported Q2 2024 revenue of $34 million, including a significant contribution from the recent acquisition of Alfamation.

• Gross margin for the quarter was recorded at 40.6%, which was lower than expected due to unfavorable product mix and higher volume at the low end of the guidance range.

• EPS for Q2 stood at $0.02 per diluted share, with adjusted EPS at $0.08, reflecting adjustments for acquired intangible amortization.

Business Progress:

• The acquisition of Alfamation late in Q1 contributed $9.7 million to the quarter's revenue, showcasing effective integration and synergy realization across product technology sharing and supply chain management.

• inTEST continues to navigate the challenging semiconductor market, with efforts to diversify into markets like Life Sciences and consumer electronics through acquisitions and innovation strategies.

Opportunities:

• The company is focusing on diversified markets, aiming to mitigate the current sluggishness in semiconductor and Auto/EV sectors through innovations and acquisitions like Alfamation which positions them stronger in the automotive electronics and infotainment markets.

Risks:

• The company forecasts continued challenges in the semiconductor front-end segment, affecting operations and financial performance into 2025.

• Delivery pushouts by customers indicate ongoing uncertainties in market demand, although no cancellations have been reported, suggesting only a temporal shift rather than a loss of business.

More details: inTEST IR

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