InTEST Corp. Q3 Profit Declines

(RTTNews) - inTEST Corporation (INTT), a provider of test and process technology solutions, Thursday reported net earnings of $495,000 or $0.04 per share for the third quarter, lower than $2.28 million or $0.19 per share in the same quarter a year ago, primarily impacted by decline in revenue as well as higher expenses.

Excluding one-time items, earnings were $1.22 million or $0.10 per share, that beat the analysts' average estimate of $0.07 per share. Analysts' estimates typically exclude special items.

Operating income was $487,000 down from $2.47 million last year.

Revenue for the quarter declined to $30.27 million from $30.94 million in the previous year. The consensus estimate was for $32.99 million.

For full-year, the company now expects revenue in the range of $128 million - $131 million, compared with the previous outlook of $128 million to $133 million. The Street is looking for revenue of $130.47 million for the year.

For the fourth quarter, revenue is expected between $34 million and $37 million. This compares with the analysts' view of $33.68 million.