secwatch.observer — SEC 8-K summary
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Issuer:     INTEST CORP (INTT)
CIK:        0001036262
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001437749-24-007466
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 4.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

inTEST restates Q3 2023 financials, acquires Alfamation for ~€20M
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- Q3 2023 revenue overstated by ~$1.7M; net income overstated by ~$700K; EPS revised from $0.24 to $0.19.
- Acquired Alfamation S.p.A. for ~€20M (€18M cash + 187,432 shares); Alfamation annual revenue ~$25M, backlog ~$15M.
- FY2024 revenue guidance raised to $145-155M; acquisition expected accretive to non-GAAP EPS in 2025, dilutive to GAAP EPS in 2024.
- Company expects to report a material weakness in internal control over financial reporting due to revenue recognition errors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/intt20240311_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-007466

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