Delay inTEST’s Q4 2023 Earnings; Preliminary Results & 2024 Guidance

inTEST Corporation (NYSE American: INTT) has announced a rescheduling of its fourth quarter and full year 2023 earnings release and investor conference call, previously set for March 1, 2024. The delay is due to the need for additional time to complete the year-end audit and review process. The company anticipates reporting its results concurrently with or before filing its Annual Report on Form 10-K for the year ended December 31, 2023.

Preliminary Fourth Quarter 2023 Results

For the fourth quarter of 2023, inTEST recorded approximately $28.4 million in revenue, accompanied by net earnings of roughly $1.7 million, equating to $0.14 per diluted share. Cash generated from operations during this period amounted to $4.7 million, with orders totaling $27.5 million.

First Quarter and Full Year 2024 Guidance

Anticipated revenue for the first quarter of 2024 falls within the $28 million to $30 million range, alongside a projected gross margin of approximately 46%. Diluted earnings per share for the first quarter of 2024 are forecasted to range from $0.08 to $0.13.

For the entirety of 2024, revenue is estimated to range between $125 million and $130 million.

These projections are based on the current outlook of management regarding operating and market conditions, as well as customers’ forecasts. They assume unchanged macroeconomic conditions throughout the year and do not account for any extraordinary non-operating expenses that may arise. Actual results may deviate from these forecasts due to various factors, as detailed under “Forward-Looking Statements” below.

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