inTEST Q2 revenue record $34M, adjusted EPS $0.08; cuts 2024 guidance amid semi weakness

INTEST CORP

2024-Q2 EPS reported $0.07 revenue$63,815,000

Revenue $34.0M (record, +4% YoY, +14% sequential); Alfamation contributed $9.7M since March 12 acquisition.
GAAP EPS $0.02; adjusted EPS $0.08; semi market sales plunged 46% YoY ($8.7M).
Orders $26.2M, up 15% sequentially; excluding Alfamation orders up 10% sequentially.
Rightsizing actions target $1.2M annualized savings starting Q3; 2024 guidance lowered due to persistent semi headwinds.

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