inTEST reports Q4 adjusted EPS 16c vs. 34c last year

Reports Q4 revenue $27.88M vs. $32.4M last year. “The effective execution of our 5-Point Strategy continues to drive strong results as we delivered a second consecutive year of record revenue while also achieving net income of $9.3M, the highest level in more than a decade,” commented CEO Nick Grant. “…This increasing diversification proved fundamental to the strength of our 2023 results as growing demand from industrial and defense/aerospace markets helped to offset the widely reported weakness in the semiconductor market. Our efforts are resulting in a larger, more diverse customer base positioning inTEST well for further growth. The recent acquisition of Alfamation, which we announced on March 12, 2024, is further proof of the progress we are making on our 5-Point Strategy. The acquisition adds significant test and automation capabilities, broadens geographic and key market presence while also providing measurable scale to the Electronic Test division. The team will continue to drive organic growth initiatives while pursuing highly complementary acquisitions such as Alfamation.”