inTEST Provides Update to Fourth Quarter 2010 Outlook; Net Revenue Forecast Exceeds High-End of Guidance Range by Approximately
January 10 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 provided an update to the Company's outlook for the 2010
fourth quarter (ended December 31, 2010). The Company noted that it
expects to report results for the fourth quarter on March 2, 2011.
Fourth Quarter 2010 Updated Guidance
inTEST Corporation is revising its expectations for net revenue,
bookings and pre-tax income for the fourth quarter 2010. The
following represent revisions from the expectations established
during the Company's third quarter 2010 financial results
conference call which was held November 3, 2010.
- Net revenue for the fourth quarter is now expected to be
approximately $10.0 million. This is a revision from the net
revenue guidance in the range of $8.8 million to $9.5 million,
established November 3, 2010. Net revenues for the third quarter
ended September 30, 2010 were $11.3 million.
- Bookings for the fourth quarter are now expected to be
approximately $11.5 million, which exceeds the third quarter's
bookings of $9.4 million.
- Pre-tax income is now expected to be in the range of $0.08 to
$0.10 per diluted share.
The Company's updated pre-tax income guidance is based upon
current expectations and may be subject to change due to audit
adjustment.
Additional commentary pertaining to the December quarter will be
provided when the company reports its fourth quarter financial
results on March 2, 2011.
No conference call will be held in conjunction with this
guidance revision.
Robert E. Matthiessen, President and Chief Executive Officer of
inTEST, commented, "Our business in the fourth quarter has
continued to strengthen, and we have reversed the consecutive
quarterly down trend in bookings that we saw during the second and
third quarters of 2010. As a result, we now expect to report net
revenue for the fourth quarter of approximately $10.0 million,
which exceeds the high-end of our guidance."
Needham & Company Presentation and Webcast
Information inTEST is scheduled to present to the investment
community at the 13th Annual Needham Growth Conference on Thursday,
January 13, 2011 at 4:10 p.m. EST at the New York Palace Hotel in
New York City.
Robert E. Matthiessen, President and Chief Executive Officer,
and Hugh T. Regan, Jr., Treasurer and Chief Financial Officer, will
be hosting meetings with investors to discuss the Company's
financial performance, business trends and growth opportunities.
Presentation materials will be made available on the investor
relations section of the Company's website at www.intest.com.
Alternatively, to hear a live webcast of the presentation,
investors may access the following URL directly:
http://www.wsw.com/webcast/needham41/intt/. This webcast will be
archived for 90 days following the live presentation.
In addition, management will be available for meetings in New
York City on Thursday, January 13, 2011. Investors who would like
to meet with Mr. Matthiessen and Mr. Regan are asked to contact
Investor Relations for inTEST: Laura Guerrant-Oiye at (808)
882-1467 or via email at lguerrant@guerrantir.com.
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