• inTEST Corp (NYSE: INTT) reported fourth-quarter FY22 revenue growth of 45% year-on-year to $32.41 million, beating the consensus of $31.45 million.

• Fourth quarter orders of $31.3 million grew 2.8% over the prior-year period reflecting increases across all end markets except in semi.

• Revenue growth reflected strong demand across all technology offerings and end markets.

• Gross margin was 46.2% versus 46.3% a year ago. inTEST's operating margin expanded by 1,110 bps to 12.4%. Operating income grew from $0.295 million to $4.03 million.

• Adjusted EPS of $0.34 beat the consensus of $0.32.

• inTEST held $14.6 million in cash and equivalents and generated $2.3 million in operating cash flow.

• Nick Grant, President, and CEO, commented, "Solid execution of our 5-Point Strategy to drive growth enabled us to end this past year with a record $117 million in revenue. By expanding our addressable markets, building out our sales channels, upgrading our talent and staffing, and driving innovation with new products, we have expanded our geographic reach, our customer base, and market positions. Further demonstrating the success of our strategy, we integrated three acquisitions that added new technologies and deepened our positions in target markets."

• Outlook: inTEST sees FY23 revenue of $125 million -$130 million versus the consensus of $126.70 million.

• inTest sees Q1 FY23 revenue of $30 million - $32 million (consensus $30.25 million) and adjusted EPS of $0.25 - $0.30 (consensus $0.25).

• Price Action: INTT shares closed lower by 1.47% at $14.72 on Thursday.

• Photo Via Company

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This article inTEST's Q4 Highlights: Registers 45% Topline Growth Backed By End Market Growth; Expands Addressable Markets originally appeared on Benzinga.com

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