inTEST to Relocate Corporate Headquarters and Temptronic Corporation to State-of-the-Art Facilities
January 06 2011 - 4:05PM
Marketwired
inTEST Corporation (NASDAQ: INTT), an independent designer,
manufacturer and marketer of semiconductor automatic test equipment
(ATE) interface solutions and temperature management products,
today announced that it will complete the relocation of its
corporate headquarters, including the operations of its Mechanical
Products segment, from Cherry Hill, New Jersey to Mount Laurel, New
Jersey, on January 14, 2011. In addition, inTEST noted that
Temptronic Corporation, a part of its Thermal Products segment,
will relocate from Sharon, MA to Mansfield, MA. It is expected that
Temptronic Corporation will take occupancy of its new facility on
March 1, 2011.
Reduced Facilities Costs Will Save
Approximately $0.05 in Annual Earnings Per Share Robert E.
Matthiessen, President and Chief Executive Officer of inTEST,
commented, "With the efficiencies gained by the new facilities, we
expect to benefit from a considerable reduction in our operating
costs. Our new Mount Laurel, NJ headquarters will bring savings of
approximately $250,000 - $300,000 per year in operating costs, as
compared to costs of our current facility. In addition, we expect
further savings of approximately $150,000 - $200,000 annually in
operating costs with the Mansfield, MA Temptronic Corporation
relocation. We expect that the combined savings will result in an
improvement of approximately $0.05 in annual earnings per
share."
Mr. Matthiessen added, "The inTEST headquarters and the
Temptronic offices to which we will be moving are new facilities
with state-of-the-art technologies, both of which have been
designed to our specifications. The layout of offices, conference
rooms, cubicles, and public space is designed to create an optimal
work environment for the Company's operations. The open environment
will encourage teamwork and collaboration, boost productivity, and
help our employees serve our customers more effectively."
New Corporate Address and Fax Number Effective
January 14, 2011 Effective January 14, 2011, the new corporate
headquarters address will be 804 East Gate Drive, Suite 200, Mount
Laurel, New Jersey 08054. With the exception of the Company's main
fax number, all phone numbers, emails and the corporate website
address will not change. The new main corporate fax number will be
(856) 505-8801.
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.
Forward-Looking Statements: This press
release includes forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements do not convey historical information, but relate to
predicted or potential future events that are based upon
management's current expectations. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements. In
addition to the factors mentioned in this press release, such risks
and uncertainties include, but are not limited to, changes in
business conditions and the economy, generally; changes in the
demand for semiconductors, generally; changes in the rates of, and
timing of, capital expenditures by semiconductor manufacturers;
progress of product development programs; increases in raw material
and fabrication costs associated with our products; implementation
of additional restructuring initiatives and other risk factors set
forth from time to time in our SEC filings, including, but not
limited to, our periodic reports on Form 10-K and Form 10-Q. The
Company undertakes no obligation to update the information in this
press release to reflect events or circumstances after the date
hereof or to reflect the occurrence of anticipated or unanticipated
events.
Add to Digg Bookmark with del.icio.us Add to Newsvine
CONTACTS: Hugh T. Regan, Jr. Treasurer and Chief
Financial Officer inTEST Corporation Tel: 856-505-8999 Laura
Guerrant-Oiye Guerrant Associates Email Contact Tel: (808)
882-1467
inTest (AMEX:INTT)
Historical Stock Chart
From May 2024 to Jun 2024
inTest (AMEX:INTT)
Historical Stock Chart
From Jun 2023 to Jun 2024