Intest Corp Up 11.35% To $12.66 After Earnings Beat

Thursday, March 28, 2024 - Intest Corp (INTT) reported upside earnings and downside revenues.

The consensus among analysts for Intest Corp was for an earnings per share (EPS) of $0.13. The firm was able to surpass those projections, reporting an EPS of $0.16, a positive surprise of $0.03 (23%). Profits fell 53% year-over-year after reporting an EPS of $0.34 in its year-ago quarter. The negative growth rate signals that the Technology company isn't performing well amid current economic conditions.

Revenues were downbeat at $27.9 million. That represents a 13.95% decrease in revenues from the year-ago report and is 4.34% lower than consensus estimates set at $29.2 million.

The stock is up 11.35% to $12.66 after the report.

Intest Corp's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Intest Corp a Bullish Sentiment Rank from InvestorsObserver.

Intest Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 15, putting Intest Corp in the bottom 25% of stocks. The firm set a 52-week low on December 11, 2023 at $10.66 and set a 52-week high on June 13, 2023 at $27.17.

inTest Corp is a United States-based company that designs, manufactures, and markets products that are used by semiconductor manufacturers to test their integrated circuits and wafer products. It has two operating segments: Thermal products and Electro-mechanical Semiconductor (EMS) products. The thermal segment, which is the key revenue driver, provides induction heating system solutions for conditioning, joining, and forming conductive materials in the manufacturing process. Semiconductor manufacturers use the EMS solutions in back-end testing where mechanical and electrical products serve production testing of wafers and specialized packaged ICs. The company has operations in New York, the Netherlands, United Kingdoms, Massachusetts, Germany, and Singapore among others.