InTEST Clocks 50 Percent Revenue Growth in Q4 Backed by Semiconductor, EV Demand

InTEST office in Mt Laurel Township, New Jersey. Screenshot/Google Maps via The Epoch Times

inTEST Corp reported fourth-quarter FY21 revenue growth of 50.3 percent year-on-year to $22.36 million, beating the consensus of $22.01 million.

Key target markets drove the growth led by both front-end and back-end semiconductor industry demand and acquisition benefits.

Strong demand in the semi, automotive, specifically EVs, and life sciences resulted in annual orders of $101.9 million; the front-end semiconductor market pushed quarterly orders to $30.5 million.

Multimarket revenue grew 38.7 percent Y/Y to $10.07 million, and Semi Market revenue rose 61.3 percent Y/Y to $12.28 million.

The gross margin expanded 110 bps to 46.3 percent. inTEST recorded a positive operating margin of 1.3 percent.

Non-GAAP EPS of $0.07 missed the consensus of $0.11.

inTEST held $21.2 million in cash and equivalents.

Outlook

inTEST sees FY22 revenue of $110 million -$115 million, above the consensus of $107.4 million.

inTest sees Q1 FY22 revenue of $23 million - $25 million (consensus $22.95 million), non-GAAP EPS of $0.10 - $0.15 (consensus $0.15).

By Anusuya Lahiri

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