inTEST Clocks 50% Revenue Growth In Q4 Backed By Semiconductor, EV Demand

inTEST Corp INTT reported fourth-quarter FY21 revenue growth of 50.3% year-on-year to $22.36 million, beating the consensus of $22.01 million.
Key target markets drove the growth led by both front-end and back-end semiconductor industry demand and acquisition benefits.
Strong demand in the semi, automotive, specifically EVs, and life sciences resulted in annual orders of $101.9 million; the front-end semiconductor market pushed quarterly orders to $30.5 million.
Multimarket revenue grew 38.7% Y/Y to $10.07 million, and Semi Market revenue rose 61.3% Y/Y to $12.28 million.
The gross margin expanded 110 bps to 46.3%. inTEST recorded a positive operating margin of 1.3%.
Non-GAAP EPS of $0.07 missed the consensus of $0.11.
inTEST held $21.2 million in cash and equivalents.
Outlook: inTEST sees FY22 revenue of $110 million -$115 million, above the consensus of $107.4 million.
inTest sees Q1 FY22 revenue of $23 million - $25 million (consensus $22.95 million), non-GAAP EPS of $0.10 - $0.15 (consensus $0.15).
Price Action: INTT shares closed higher by 4.1% at $11.42 on Thursday.

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