MT. LAUREL, N.J. - inTEST Corporation (NYSE American: INTT), a provider of test and process technology solutions, has launched the Temptronic RapidTemp™ BT28 ThermoStream®, a benchtop temperature test system. The company announced the system as a compact and portable option for precision temperature testing in various industries, including semiconductors and electronics.
The BT28 ThermoStream® is touted for its broad temperature range, extending from -28°C to +225°C, and its rapid temperature transition capabilities. It is designed to be energy-efficient, quieter, and smaller than previous models, aiming to reduce environmental impact while maximizing workspace efficiency. The system also features a detachable touchscreen interface with a 9-foot-long remote cable for flexible operation.
Michael Tanniru, President of inTEST's Environmental Technologies Division, stated that the BT28 stands out as the best benchtop thermal test system currently available. He emphasized its potential to enhance product performance testing, manufacturing throughput, and quality analysis troubleshooting.
The introduction of the BT28 ThermoStream® is part of inTEST's strategy to grow through the addition of innovative technologies. The company serves key markets such as automotive/EV, defense/aerospace, industrial, life sciences, and security, and supports both the front-end and back-end of the semiconductor manufacturing industry.
This announcement is based on a press release statement issued by inTEST Corporation.
InvestingPro Insights
In light of the recent developments at inTEST Corporation (NYSE American: INTT), the introduction of the Temptronic RapidTemp™ BT28 ThermoStream® could signal a positive outlook for the company’s innovation and market expansion efforts. Here are some insights based on data from InvestingPro and InvestingPro Tips that may be of interest to investors:
The company holds a Price-to-Earnings (P/E) ratio of 11.03 as of the last twelve months ending Q4 2023, which suggests that the stock is trading at a relatively low valuation when paired with near-term earnings growth. Additionally, the PEG ratio of 0.12 indicates potential undervaluation when considering the company's earnings growth rate. Moreover, the Price to Book (P/B) ratio of 1.38 further highlights a potentially attractive valuation level.
From a performance standpoint, inTEST has demonstrated a solid gross profit margin of 46.21% over the last twelve months ending Q4 2023. This robust margin may reflect the company's ability to manage costs effectively while delivering its innovative test solutions to various industries. Despite a quarterly revenue decline of 13.95% in Q4 2023, the company remains profitable, as evidenced by its positive operating income and return on assets of 9.8%.
InvestingPro Tips for inTEST Corporation further reveal that the company holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations, which may provide financial flexibility and stability. Additionally, analysts predict that the company will be profitable this year, and it has been profitable over the last twelve months. It is important to note that inTEST does not pay a dividend, which could be a consideration for income-focused investors.
For those interested in a deeper dive into inTEST’s financial health and future prospects, InvestingPro offers additional insights and metrics. Currently, there are 7 more InvestingPro Tips available for inTEST Corporation at https://www.investing.com/pro/INTT. To access these tips and more detailed analytics, consider using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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