CHERRY HILL, N.J., April 22 /PRNewswire-FirstCall/ -- inTEST
Corporation (Nasdaq: INTT), an independent designer, manufacturer
and marketer of semiconductor automatic test equipment (ATE)
interface solutions and temperature management products, today
announced preliminary, selected unaudited results for the quarter
ended March 31, 2010. The news
release announcing final results for the quarter ended March 31, 2010 is expected to be disseminated on
Wednesday, May 12, 2010, after the
market close.
Net revenues for the quarter ended March
31, 2010 were approximately $9.5
million, compared to $8.4
million for the fourth quarter of 2009. Net income for
the quarter ended March 31, 2010 was
approximately $1.1 million or
$0.11 per diluted share, compared to
$142,000 or $0.01 per diluted share for the fourth quarter of
2009. The net income for the fourth quarter included
restructuring charges of $307,000 or
$0.03 per diluted share, which
represented one-time termination benefits and facility closure
costs related to the relocation of our Sigma Systems
subsidiary.
Bookings for the quarter ended March 31,
2010 were approximately $14.0
million, an increase of 49% over the $9.4 million in bookings for the fourth quarter
of 2009.
The preliminary results released today have not yet been
reviewed by our independent registered public accounting firm and
are subject to change.
Robert E. Matthiessen, President
and Chief Executive Officer of inTEST commented, "We are
benefitting from the considerable operating leverage we achieved in
our business. During the downturn, we took costs out of our
overhead, processes, and all other areas, wherever possible,
including the restructuring and consolidation of our manufacturing
operations. At this point, we are confident we can continue
to satisfy increasing customer demand levels without a significant
addition of overhead. We expect to continue to benefit from
the demand rebound in semiconductor driven areas, including
communications and computing, while also benefitting from
opportunities later this year in non-semiconductor areas, including
automobiles and medical."
May 12th Investor Conference
Call / Webcast Details:
The news release announcing final results for the quarter ended
March 31, 2010 is expected to be
disseminated on Wednesday, May 12,
2010, after the market close, followed by the Company's
quarterly conference call with investors and analysts at
5:00 pm EDT to discuss the Company's
results and management's current expectations and views of the
industry. The call may also include discussions of strategic,
operating, product initiatives or developments, or other matters
relating to the Company's current or future performance.
The dial-in number for the live audio call beginning at
5 p.m. EDT on May 12, 2010 is 1-877-407-0784 (domestic) or
+1-201-689-8560 (international). A live web cast of the conference
call will be available on inTEST's website at www.intest.com.
A replay of the call will be available 2 hours following the
call through midnight on Wednesday, May 19,
2010 at www.intest.com and by telephone at 1-877-660-6853
(domestic) or +1-201-612-7415 (international). The account
number to access the replay is 3055 and the conference ID number is
349733.
About inTEST Corporation
inTEST Corporation is an independent designer, manufacturer and
marketer of ATE interface solutions and temperature management
products, which are used by semiconductor manufacturers to perform
final testing of integrated circuits (ICs) and wafers. The
Company's high-performance products are designed to enable
semiconductor manufacturers to improve the speed, reliability,
efficiency and profitability of IC test processes. Specific
products include positioner and docking hardware products,
temperature management systems and customized interface solutions.
The Company has established strong relationships with semiconductor
manufacturers globally, which it supports through a network of
local offices. For more information visit www.intest.com.
CONTACTS:
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Hugh T. Regan,
Jr.
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David
Pasquale
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Treasurer and Chief
Financial Officer
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Global IR
Partners
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inTEST
Corporation
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intt@globalirpartners.com
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Tel: 856-424-6886,
ext 201
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Tel:
914-337-8801
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SOURCE inTEST Corporation