inTEST Corporation Receives Going Concern Qualification
July 15 2009 - 12:00PM
PR Newswire (US)
CHERRY HILL, N.J., July 15 /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 that the audit report to the consolidated financial
statements for the fiscal year ended December 31, 2008, included in
the Company's Annual Report on Form 10-K ("Form 10-K") filed with
the Securities and Exchange Commission on July 10, 2009, contained
a going concern qualification from its independent registered
public accounting firm, McGladrey & Pullen, LLP. This
announcement is being made in compliance with Nasdaq Marketplace
Rule 5250(b)(2) which requires a public announcement through the
news media disclosing the receipt of an audit opinion containing a
going concern qualification. This announcement does not represent
any change or amendment to the Company's financial statements or to
its Form 10-K for the year ended December 31, 2008. 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 http://www.intest.com/.
CONTACT: Hugh T. Regan, Jr., Treasurer and Chief Financial Officer,
inTEST Corporation, 856-424-6886, ext 201. 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; costs associated with
compliance with Sarbanes Oxley 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.
DATASOURCE: inTEST Corporation CONTACT: Hugh T. Regan, Jr.,
Treasurer and Chief Financial Officer, inTEST Corporation,
+1-856-424-6886, ext 201 Web Site: http://www.intest.com/
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