inTEST Q1 revenue $29.8M, adj EPS $0.10; cuts FY24 revenue outlook to $140-150M

INTEST CORP

2024-Q1 EPS reported $0.05 revenue$29,824,000

GAAP EPS $0.05, adjusted EPS $0.10; revenue $29.8M, down YoY but up 7% sequentially.
Full year 2024 revenue guidance reduced to $140M-$150M, representing 18% growth over 2023 midpoint.
Record backlog $55.5M includes $22.8M from Alfamation acquisition closed March 12, 2024.
Operating cash flow $2.1M; cash $27.3M at quarter end after $19M used for Alfamation.
CEO notes semiconductor market weakness and delayed order conversions; moderating outlook.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTEST CORP reported first quarter ended March 31, 2024 results: revenue $29.8 Million, EPS $0.05. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $29.8 Million
EPS: $0.05
Guidance: reaffirmed
Result: reported results

Exact text from the filing

inTEST Reports $29.8 Million in Revenue for First Quarter 2024

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Source: SEC EDGAR

accession 0001437749-24-014830

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