inTEST Reports 2019 Second Quarter Financial Results

 

(1 ) Semi Market:  These amounts include all bookings and net revenues from the semiconductor market.
   
(2 ) Multi Markets:  Formerly referred to as “Non Semi Bookings” and “Non Semi Net Revenues.”  These amounts include all bookings and net revenues from markets other than the semiconductor market.
   
(3 ) For the second quarter of 2018, Net Earnings (Loss) (GAAP) and Net Earnings (Loss) per diluted share (GAAP) include the impact of a decrease in the liability for contingent consideration of $710,000 and the reversal of the $476,000 Federal transition tax payable that was estimated during the quarter ended December 31, 2017 under new tax legislation. During the second quarter of 2018, we determined that this tax was not due.
   
(4 ) Further information can be found under “Non-GAAP Results.”  See also the reconciliation of GAAP financial measures to non-GAAP financial measures that accompanies this earnings release.


2019 Six Month Year-to-Date Financial Summary

($ in Millions, Except Per Share Data) Six Months Ended
  6/30/2019 6/30/2018
Semi Market Bookings (5) $ 14.2   $ 24.6  
Multi Markets Bookings (6)   13.6     15.3  
Total Bookings $ 27.8   $ 39.9  
     
Semi Market Bookings (5) - % of Total Bookings   51 %   62 %
Multi Markets Bookings (6) - % of Total Bookings   49 %   38 %
     
Semi Market Net Revenues (5) $ 17.7   $ 23.6  
Multi Markets Net Revenues (6)   14.7     16.4  
Total Net Revenues $ 32.4   $ 40.0  
     
Semi Market Net Revenues (5) - % of Total Net Revenues   55 %   59 %
Multi Markets Net Revenues (6) - % of Total Net Revenues   45 %   41 %
     
Gross Margin $ 15.6   $ 20.3  
Gross Margin   48 %   51 %
     
Net Earnings (GAAP) (7) $ 1.0   $ 4.4  
Net Earnings per diluted share (GAAP) (7) $ 0.09   $ 0.42  
     
Adjusted Net Earnings (Non-GAAP) (8) $ 1.6   $ 5.9  
Adjusted Net Earnings per diluted share (Non-GAAP) (8) $ 0.15   $ 0.57  
     
Adjusted EBITDA (Non-GAAP) (8) $ 2.2   $ 7.2  

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