inTEST Corporation: Fourth Quarter and Full Year 2024 Financial Results with Alfamation Acquisition
MT. LAUREL, N.J. – inTEST Corporation, a leading provider of test and process technology solutions, recently announced its financial results for the fourth quarter and full year 2024. These results include the financial contributions of Alfamation S.p.A., an Italian company specializing in advanced test solutions for the semiconductor industry, which was acquired by inTEST on October 1, 2024.
Financial Highlights
For the full year 2024, inTEST reported revenue of $323.5 million, a 36% increase from the $239.6 million reported in 2023. Net income for the year was $12.5 million, compared to a net loss of $1.7 million in 2023. The acquisition of Alfamation contributed approximately $105.3 million in revenue and $11.1 million in net income to inTEST’s 2024 financial results.
Fourth Quarter 2024 Results
In the fourth quarter of 2024, inTEST reported revenue of $95.2 million, a 42% increase from the $67.3 million reported in the same period in 2023. Net income for the quarter was $2.9 million, compared to a net loss of $1.5 million in the same period in 2023. The Alfamation acquisition contributed approximately $36.3 million in revenue and $3.9 million in net income to inTEST’s fourth quarter 2024 financial results.
Impact on Consumers
The acquisition of Alfamation by inTEST is expected to result in several positive impacts for consumers. With Alfamation’s advanced test solutions, inTEST will be able to offer more comprehensive testing services to its semiconductor industry clients. This could lead to improved product quality and reliability, as well as faster time-to-market for new semiconductor products. Additionally, the increased revenue and net income reported by inTEST may result in continued investment in research and development, which could lead to even more advanced testing technologies and services in the future.
Impact on the World
On a larger scale, the acquisition of Alfamation by inTEST could have significant impacts on the semiconductor industry and the world as a whole. The semiconductor industry is a critical component of many modern technologies, from smartphones and computers to automobiles and industrial machinery. Improved testing technologies and services could lead to more efficient and effective manufacturing processes, which could help to reduce costs and increase productivity. Additionally, the continued development of advanced semiconductor technologies could lead to new innovations and applications, from self-driving cars to smart cities and beyond.
Conclusion
In conclusion, inTEST Corporation’s fourth quarter and full year 2024 financial results, which include the contributions of Alfamation S.p.A., represent a significant milestone for the company. The acquisition of Alfamation is expected to lead to improved testing services for inTEST’s semiconductor industry clients, as well as continued investment in research and development. On a larger scale, the acquisition could have positive impacts on the semiconductor industry and the world, from improved manufacturing processes to new innovations and applications. As inTEST continues to grow and evolve, it will be an exciting company to watch in the years to come.
- inTEST Corporation reported strong financial results for 2024, with revenue of $323.5 million and net income of $12.5 million
- The acquisition of Alfamation S.p.A. contributed approximately $105.3 million in revenue and $11.1 million in net income to inTEST’s 2024 financial results
- The acquisition is expected to lead to improved testing services and continued investment in research and development for inTEST’s semiconductor industry clients
- The acquisition could have positive impacts on the semiconductor industry and the world, from improved manufacturing processes to new innovations and applications
