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InTest Corporation, headquartered in Mount Laurel, New Jersey, was incorporated in New Jersey in 1981 and reincorporated in Delaware in April 1997. We completed our initial public offering in June 1997 and currently trade on the NYSE American stock exchange under the symbol INTT .
The business is unprofitable at the operating level (-3.27% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 12.9% YoY. Margins deteriorated 5.9pp alongside, both lines moving the wrong way.
ROIC dropped from 2.36% to -2.39%, capital efficiency is deteriorating. Operating margin contracted 5.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$121M
▼ -12.9% YoY
Net Income (TTM)
$591K
▼ -187.4% YoY
Op. Margin
0.09%
▼ -5.9pp YoY
ROIC
0.07%
▼ -4.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▲ +127.6% YoY
Op. Cash Flow (TTM)
-$2M
▲ +91.4% YoY
Net Debt
$5M
Cash & Equiv.
$13M
5Y CAGR: +16.2%
5Y CAGR: +17.0%
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