EMS Q4 2020 Bookings Practically Double Above Q3 2020
MT. LAUREL, N.J., Jan. 25, 2021 (World NEWSWIRE) — inTEST Corporation (NYSE American: INTT), a world-wide supplier of innovative take a look at and course of action solutions for use in production and screening across a vast array of marketplaces, including automotive, defense/aerospace, vitality, industrial, semiconductor and telecommunications, introduced now that small business in its EMS phase, which predominantly serves manufacturing take a look at for analog and mixed sign semiconductor purposes and has historically accounted for 15-30% of the Company’s yearly profits, has ongoing to knowledge a noticeably enhanced order stream, with fourth quarter 2020 bookings virtually doubling in excess of the 2020 third quarter’s EMS bookings.
“We are seeing energy across the board in our EMS merchandise offerings, pushed by substantial business tailwinds in the automotive, consumer electronics, cell, mass memory and IoT markets,” commented inTEST President and CEO Nick Grant. “As we famous on our third quarter 2020 monetary results conference phone, the to start with half of 2020 was marked by an get stream resurgence, a trend that accelerated in the 2nd half, which resulted in a 91% maximize of EMS’ fourth quarter bookings as compared to the third quarter. Potent consumer curiosity has continued into the latest very first quarter.”
Mr. Grant ongoing, “We have positioned a distinct emphasis on organic and natural advancement for the Corporation and are psyched by the traction we are previously seeing on this front. For instance, EMS has experienced critical wins in the memory current market, in which inTEST has historically not had a existence. Yet another illustration of an organic and natural advancement job is adoption of the industry’s first automated manipulator, coupled with our intelligent docking system, the IntellidockTM, which offers consumers with the to start with clever docking test cell. Pushed by the craze towards automatic examination flooring, this smart examination cell is gaining traction at several customers. These are derivatives of really custom-made past technologies that we have been capable to utilize in subsequent era new products and apps, and these wins situation us into our customers’ roadmaps and examination process move, paving the way for extra chances.”
Mr. Grant extra, “I’m content to report that the consolidation we kicked off soon right after I arrived has been fundamentally accomplished for our EMS California producing into our New Jersey facility, giving value reductions by means of footprint optimization, but more importantly enabling us to much better serve prospects by means of streamlined operations. We believe that the consolidation has achieved expectations as a result significantly, and we not too long ago delivered our initially Interface units out of New Jersey in addition, the consolidation positions us well to execute and seize the expansion that the semiconductor sector is at the moment experiencing.”
About inTEST Company
inTEST Company is a world supplier of impressive examination and approach solutions for use in manufacturing and tests throughout a large array of markets including automotive, defense/aerospace, electrical power, industrial, semiconductor and telecommunications. Backed by many years of engineering abilities and a lifestyle of operational excellence, we solve tough thermal, mechanical and digital problems for customers all over the world while making solid funds circulation and gains. Our system works by using these strengths to improve and increase stockholder benefit by maximizing our organizations and by figuring out, buying and optimizing complementary businesses.
For far more information visit www.intest.com.
This push launch features ahead-looking statements in just the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historic details but relate to predicted or likely foreseeable future functions and financial results, this sort of as statements of our plans, strategies and intentions, or our future functionality or plans, that are primarily based on management’s latest anticipations. Our forward-hunting statements can typically be recognized by the use of ahead-looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “plans,” “projects,” “forecasts,” “outlook,” “anticipates” or equivalent terminology. These statements are matter to dangers and uncertainties that could lead to precise results to differ materially from all those expressed or implied by these statements. Possibility and uncertainties include, but are not minimal to, any stated in this press release as effectively as the impact of the COVID-19 pandemic on our company, liquidity, money condition and benefits of operations indications of a change in the market place cycles in the Semi Current market or other markets we provide improvements in enterprise conditions and general financial disorders the two domestically and globally modifications in the demand for semiconductors the success of our strategy to diversify our organization by getting into marketplaces outside the Semi Marketplace our capability to productively consolidate our EMS functions devoid of any impacts on clients shipments variations in the premiums and timing of cash expenses by our buyers and other threat components set forth from time to time in our Securities and Trade Fee filings, which include, but not constrained to, our annual report on Kind 10-K for the calendar year ended December 31, 2019, quarterly stories on Kind 10-Q for the quarters finished March 31, 2020, June 30, 2020 and September 30, 2020. Any forward-seeking assertion manufactured by us in this press launch is based mostly only on facts currently readily available to us and speaks to situation only as of the date on which it is built. We undertake no obligation to update the information in this press launch to reflect functions or situation following the day hereof or to mirror the prevalence of predicted or unanticipated occasions.
Contacts inTEST Company Hugh T. Regan, Jr. Treasurer and Chief Economic Officer Tel: 856-505-8999 Buyers: Laura Guerrant-Oiye, Principal Guerrant Associates [email protected] Tel: (808) 960-2642