inTEST Reports 2020 Second Quarter Financial Results


SELECTED FINANCIAL DATA
(Unaudited)
(In thousands, except per share data)

Condensed Consolidated Statements of Operations Data:

  Three Months Ended  Six Months Ended
  6/30/2020   6/30/2019   3/31/2020   6/30/2020   6/30/2019
          
Net revenues$13,275  $14,352  $11,230  $24,505  $32,414
Gross margin 6,067   6,719   4,867   10,934   15,555
Operating expenses:         
Selling expense 1,761   2,087   2,052   3,813   4,461
Engineering and product development expense 1,217       1,208       1,292       2,509       2,492
General and administrative expense   2,888       3,718       2,884       5,772       7,455
                   
Operating income (loss)    201       (294 )     (1,361 )     (1,160 )     1,147
Other income (loss)   (18 )     (6 )     (32 )     (50 )     15
Earnings (loss) before income tax expense (benefit)   183       (300 )     (1,393 )     (1,210 )     1,162
Income tax expense (benefit)   13       (113 )     (250 )     (237 )     211
Net earnings (loss)   170       (187 )     (1,143 )     (973 )     951
                   
Net earnings (loss) per share – basic $ 0.02     $ (0.02 )   $ (0.11 )   $ (0.10 )   $ 0.09
Weighted average shares outstanding – basic.   10,252       10,411       10,221       10,237       10,398
                   
Net earnings (loss) per share – diluted $ 0.02     $ (0.02 )   $ (0.11 )   $ (0.10 )   $ 0.09
Weighted average shares outstanding – diluted   10,259       10,411       10,221       10,237       10,420

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