NYSE$INTT

inTEST Corporation · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Delivered solid financial results driven by continued semiconductor demand.

inTEST reported strong Q1 2021 results with bookings of $25.2 million, revenues of $19.6 million, and GAAP EPS of $0.21. The company saw significant year-over-year and sequential growth, driven by strong demand in the semiconductor market. Gross margin improved to 49%, and the company returned to profitability.

  • Bookings increased 43% sequentially and 83% year-over-year, reaching $25.2 million.
  • Revenues increased 31% sequentially and 74% year-over-year, totaling $19.6 million.
  • GAAP EPS was reported at $0.21, and non-GAAP adjusted EPS was $0.24.
  • Gross margin improved to 49%, showing sequential and year-over-year increases.

Headline financials

Total Revenue

$19.6M

Previous: $11.2M+74.1%
EPS (adj)

$0.24

Previous: -$0.08+400.0%
Gross Margin

49.0%

No prior period
Capital Expenditures

-$388K

Previous: -$80K-385.0%
Free Cash Flow

$1.82M

Previous: -$1.22M+249.1%
Net Income

$2.21M

Previous: -$1.14M+293.5%
Operating Income

$2.58M

Previous: -$1.36M+289.6%
Gross Profit

$9.52M

Previous: $4.87M+95.6%
Cash & Equivalents

$0.00

Previous: $7.3M-100.0%
Total Assets

$67.1M

Previous: $59.1M+13.7%
Stock-Based Comp

$269K

Previous: $187K+43.9%

Revenue & EPS history

inTEST · Revenue · Quarterly

$19.6M

Q1 2021+74.1%vs Q1 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

inTEST expects net revenues for Q2 2021 to be in the range of $20.0 million to $21.0 million, with GAAP net earnings per diluted share ranging from $0.20 to $0.24 and non-GAAP adjusted net earnings per diluted share ranging from $0.23 to $0.27. The company also expects a gross margin between 49% and 51%.

Tailwinds

  • Net revenues are expected to be in the range of $20.0 million to $21.0 million.
  • GAAP net earnings per diluted share are projected to be between $0.20 and $0.24.
  • Non-GAAP adjusted net earnings per diluted share are expected to range from $0.23 to $0.27.
  • Gross margin is anticipated to be between 49% and 51%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.2%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+0.1%

Avg return

30 days after

55%

35 / 64 earnings

Positive

+30.0%

Q4 2016

Best reaction

-26.2%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.8%+6.5%-10.3%
Q4 2025+17.7%+26.9%+40.4%
Q3 2025-2.6%-5.5%-9.0%
Q1 2025-6.1%+2.7%-2.7%
Q4 2024-4.1%-3.9%-27.1%
Q3 2024+0.1%+9.5%+5.7%
Q2 2024-26.2%-32.1%-28.7%
Q1 2024-4.9%-11.1%-15.2%
Q4 2023+21.3%+22.0%+7.0%
Q3 2023-8.3%-10.1%+0.8%
Q2 2023-11.5%-16.8%-14.8%
Q1 2023+11.9%+17.7%+18.8%
Q4 2022+2.6%+9.1%+40.9%
Q3 2022-7.1%-7.2%+14.6%
Q2 2022+10.8%+14.7%-1.2%
Q1 2022-18.3%-17.0%-9.2%
Q4 2021-18.9%-14.5%-4.8%
Q3 2021+19.3%+17.3%+9.7%
Q2 2021-21.4%-23.4%-15.4%
Q1 2021+1.6%-2.4%+21.5%
Q4 2020+9.0%+6.7%+8.0%
Q3 2020+6.3%-1.0%-1.6%
Q2 2020+2.5%+3.3%+2.6%
Q1 2020+0.6%-6.2%+15.8%
Q4 2019-7.3%-11.1%-51.0%
Q3 2019-1.7%-1.3%+10.5%
Q2 2019+5.1%+1.3%-7.3%
Q1 2019-21.6%-21.9%-26.9%
Q4 2018-2.7%-3.5%-7.4%
Q3 2018-3.9%-6.0%-5.4%
Q2 2018+9.0%+22.9%+21.5%
Q1 2018-4.0%+0.0%-2.6%
Q4 2017+10.2%+2.5%-15.5%
Q3 2017-4.7%+4.7%+5.3%
Q2 2017-16.0%-8.9%-10.1%
Q1 2017+4.3%+9.3%+17.3%
Q4 2016+30.0%+28.0%+24.0%
Q3 2016+3.3%+4.4%+11.0%
Q2 2016+3.3%+1.0%-4.8%
Q1 2016+1.6%
Q4 2015-4.0%
Q3 2015-0.5%
Q2 2015+1.7%
Q1 2015+6.6%
Q4 2014+4.6%
Q3 2014-0.7%
Q2 2014+8.2%
Q1 2014-3.1%
Q4 2013+0.7%
Q3 2013-3.0%
Q2 2013+2.8%
Q1 2013+3.8%
Q4 2012-5.1%
Q3 2012+0.0%
Q2 2012+1.9%
Q1 2012-2.0%
Q1 2011-2.0%
Q4 2011+1.4%
Q3 2010+1.7%
Q3 2011+1.7%
Q2 2010+7.1%
Q4 2010+7.1%
Q2 2011+7.1%
Q1 2010-4.3%

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