Monksdream
2年前
INTT
inTest Corp NYSE American: INTT
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Information Technology : Semiconductors & Semiconductor Equipment | Small Cap GrowthCompany profile
inTEST Corporation is a supplier of test and process solutions for use in manufacturing and testing across a range of markets, including automotive, defense/aerospace, industrial, life sciences, security and semiconductors. The Company operates through three segments: Electronic Test, Environmental Technologies and Process Technologies. The Electronic Test segment consists of inTEST EMS, which has operations in New Jersey and California, and Acculogic, which has operations in Canada, California and Germany. The Environmental Technologies segment consists of inTEST Thermal Solutions, which manufactures and sells products under the Temptronic, Sigma, Thermonics and North Sciences brand names and has operations in Massachusetts, Germany and Singapore. The Process Technologies segment consists of Ambrell, which has operations in New York, the Netherlands and the United Kingdom, and Videology, which has operations in Massachusetts and the Netherlands.
inTest Corp NYSE American: INTT
GoSymbol lookup
Information Technology : Semiconductors & Semiconductor Equipment | Small Cap GrowthCompany profile
inTEST Corporation is a supplier of test and process solutions for use in manufacturing and testing across a range of markets, including automotive, defense/aerospace, industrial, life sciences, security and semiconductors. The Company operates through three segments: Electronic Test, Environmental Technologies and Process Technologies. The Electronic Test segment consists of inTEST EMS, which has operations in New Jersey and California, and Acculogic, which has operations in Canada, California and Germany. The Environmental Technologies segment consists of inTEST Thermal Solutions, which manufactures and sells products under the Temptronic, Sigma, Thermonics and North Sciences brand names and has operations in Massachusetts, Germany and Singapore. The Process Technologies segment consists of Ambrell, which has operations in New York, the Netherlands and the United Kingdom, and Videology, which has operations in Massachusetts and the Netherlands.
inTest Corp NYSE American: INTT
GoSymbol lookup
Information Technology : Semiconductors & Semiconductor Equipment | Small Cap GrowthCompany profile
inTEST Corporation is a supplier of test and process solutions for use in manufacturing and testing across a range of markets, including automotive, defense/aerospace, industrial, life sciences, security and semiconductors. The Company operates through three segments: Electronic Test, Environmental Technologies and Process Technologies. The Electronic Test segment consists of inTEST EMS, which has operations in New Jersey and California, and Acculogic, which has operations in Canada, California and Germany. The Environmental Technologies segment consists of inTEST Thermal Solutions, which manufactures and sells products under the Temptronic, Sigma, Thermonics and North Sciences brand names and has operations in Massachusetts, Germany and Singapore. The Process Technologies segment consists of Ambrell, which has operations in New York, the Netherlands and the United Kingdom, and Videology, which has operations in Massachusetts and the Netherlands.
MikeDDKing
14年前
Initiating inTEST at Outperform
zacks
On Monday August 23, 2010, 4:53 pm EDT
inTEST Corporation (NasdaqCM: INTT) is a designer, manufacturer and marketer of mechanical, thermal and electrical products that are used by semiconductor manufacturers in conjunction with automatic test equipment (ATE) in the testing of integrated circuits (ICs).
Beyond its blue chip portfolio of semiconductor manufacturers, the acquisition of Sigma has propelled the firm to diversify into non-semi thermal testing products. This has the effect of diversifying revenues and opens the company up to new markets. In the test equipment world, change is good -- be it the broad switch to mobile computing, the march to finer geometries, or the growth of electronic content in automobiles, more chip content means more testing for inTEST.
The testing of devices is a critical step during the semiconductor production process. Typically, semiconductor companies test each device at two different stages during the manufacturing process to ensure its functional and electrical performance prior to shipment to the device user. These companies use semiconductor testing equipment to first test a device after it has been fabricated but before it has been packaged to eliminate non-functioning parts.
Then, after the functioning devices are packaged, they are tested again to determine if they fully meet performance specifications. Testing is an important step in the manufacturing process because it allows devices to be fabricated at both maximum density and performance -- a key to the competitiveness of semiconductor manufacturers.
Trends
Looking at the Mechanical bookings in the first half of 2009 versus 2010, customer mix and product mix changes makes it apparent that the industry has changed toward stronger sales for testers. Last year during the first half of 2009, 90% of the firm’s business was to end users and 10% to OEMs. This year, that split is approximately 70-30, indicating the tester sales have rebounded.
Another metric is change in the ratio of docking to manipulator sales. A year ago, the ratio was 88% docking to 12% manipulators; that ratio is now 70-30. Electrical and Mechanical bookings in the second quarter were down from the previous quarter. This was primarily the result of an order rush in the first quarter.
inTEST remains well positioned to achieve solid revenue growth and operating leverage as complexity in electronics rations up and chip content increases. We see an even-keeled semiconductor equipment market recovery and point to market research firm Gartner’s expectations that the current upturn to be one of the first in which the peak revenue in capital equipment does not surpass previous growth cycles, which may well help to mitigate the boom/bust scenario seen in the past.
The firm has a diversified portfolio that includes non-semiconductor markets. This revenue should be a bit more inelastic and run on a different cyclical time frame than the semiconductor business.
INTEST CP (INTT): Read the Full Research Report
Zacks Investment Research
Rawnoc
14年前
Oh okay, I thought he meant Cisco warned going forward?
If not, so you're saying it appears there was a dip in late June that has recently reversed itself a month later?
Strange industry.....maybe the BP oil spill scared everybody and it appearing to be solved has chilled people out.
Or maybe, and I'm guessing more likely, the demand in Q2 prior to late June was unusually high because they were making up for lost depleted inventories ONTOP of increasing demand so while the demand has been steadily increasing the whole time the inventory depletion had been made up for by late June.
Perhaps. Or perhaps they're now getting ready for the Xmas season because everybody is going to want an IPAD, Iphone, and 40,000 other gadgets that require chips for Xmas because if this shit is selling NOW while everybody is in a panic, they'll certainly be in demand for Xmas.
Rawnoc
14年前
Was more based on my visit....July was clearly hinted to me as busy so the preannouncement PR was a surprise.....now with this comment it appears the earlier PR was just caution as they were probably in the middle of not-yet-final deals such as the third party deals.
Seems like the best way to play INTT is to aggressively trade it around a core position. Should continue to see violent swings. If this economy ever gets on fire again then INTT is going to be a monster with it and the chip industry doing so well during tough times just imagine during good. It does seem like the demand for computerized gadgets is going through the roof. In the 90s everybody felt rich but still only had a desktop, maybe a laptop, and a pos cell phone maybe. Now they have a laptop for everybody in the family, a netbook, a smart phone, a computer in the car`s engine, a computerized GPS in the lighter, and a ton of other crap coming out over the next 1-2 years that we can't even dream about yet we`re going to wonder how we lived without it.
Then again maybe I'm wrong and most chip demand is really by businesses. Are they replacing people with wireless computers? Probably not enough. Or maybe more as they have less employees covering bigger regions?
I'm not sure which is more bipolar....the chip industry or my emotions toward it.
Rawnoc
14年前
INTT -- good news out. From the PR:
Robert E. Matthiessen, President and Chief Executive Officer of inTEST,
commented, "This was another strong quarter for us. Our business continues to
perform at quarterly revenue levels not seen in several years, with quarterly net
income approaching an historic high for our company given the operating leverage
now in our business. In our preliminary release from July 27th, I stated that we
were seeing a slight pullback in ordering activity. In fact, since that time, our
bookings rate has again accelerated and in some cases the quoting level has
increased dramatically. This variability in our order rate has made this upturn a
challenge to predict; however we are now of the opinion that the up-cycle in the
semiconductor business is continuing. Given the expected continued variability in
the semiconductor industry, we also continue to evaluate other strategic
opportunities as a normal course of business. We are optimistic in our business
outlook based on customer sentiment and demand."
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