INTT - inTest Non-GAAP EPS of $0.29 beats by $0.04 revenue of $31.9M beats by $0.84M

2023-05-05 06:35:56 ET

• inTest press release ( NYSE: INTT ): Q1 Non-GAAP EPS of $0.29 beats by $0.04 .
• Revenue of $31.9M (+32.4% Y/Y) beats by $0.84M .
• Backlog at March 31, 2023, was $45.7 million, a 30.5% increase over the prior year although down slightly compared with December 31, 2022, mostly on variability in timing of orders and shipments. Approximately 45% of the backlog is expected to ship beyond the second quarter of 2023.
• Continue to expect 2023 revenue in the range of $125 million to $130 million, representing approximately 9% growth year-over-year at mid-point of range

• Second Quarter and Full Year 2023 Outlook

  Revenue for the second quarter of 2023 is expected to be in the range of $31 million to $33 million with gross margin of approximately 46%.

  Second quarter 2023 EPS is expected to be in the range of $0.21 to $0.26, while adjusted EPS (Non-GAAP) ⁽¹⁾ is expected to be in the range of $0.25 to $0.30.

• • Continue to expect 2023 revenue in the range of $125 million to $130 million, representing approximately 9% growth year-over-year at mid-point of range

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