NJ TECH CORNER: inTEST Corporation

Photo: Robert Matthiessen, CEO of InTEST Photo Credit: Courtesy inTEST
Robert Matthiessen, CEO of InTEST | Courtesy inTEST

Company Overview

inTEST Corporation (NYSE American: INTT) designs and manufactures engineered solutions for ATE and other electronic test, as well as industrial process applications. The company’s products are used by semiconductor manufacturers to perform development, qualifying and final testing of integrated circuits (ICs) and wafers, and for other electronic test across a range of industries including the automotive, defense/aerospace, energy, industrial and telecommunications markets. inTEST offers induction heating products for joining and forming metals in a variety of industrial markets, including automotive, aerospace, machinery, wire & fasteners, medical, semiconductor, food & beverage, and packaging.  Specific products include temperature management systems, induction heating products, manipulator and docking hardware products, and customized interface solutions. Founded in 1981, the Mount Laurel-based company has manufacturing facilities in New Jersey, New York, Massachusetts and California, and sales, services and support in Singapore, the U.K., the Netherlands, Germany and other locations across the world. The company has established relationships with its customers globally, which it supports through a network of local offices. inTEST has a workforce of approximately 215 employees. 


Investment & Financial Information


Shares of common stock outstanding (diluted-as of Sept. 30, 2017):



Share price of stock (as of Dec. 22, 2017 )


Share price of stock (one year ago)


Current valuation (as of Dec. 22, 2017)

  $91.08 million

Valuation one year ago

  $48.49 million

Stock Symbol:


Revenues (as of Sept. 30, 2017) Year-to-Date


$47.420 million

Revenues (as of Sept. 30, 2016)Year-to-Date

$29.955 million

Adjusted Net Earnings (Non-GAAP*)(as of Sept. 30, 2017) Year-to-Date


$5.890 million

Adjusted Net Earnings (Non-GAAP*)

(as of Sept. 30, 2016) Year-to-Date



$1.807 million


*Adjusted net earnings is presented here as a non-GAAP number.  Refer to inTEST Corporation’s third quarter 2017 financial results press release and the accompanying SEC forms 8-K and 10Q, filed Nov. 2, 2017 and Nov. 14, 2017, respectively, for a reconciliation of net earnings and net earnings per diluted share to adjusted net earnings and adjusted net earnings per diluted share.   


Management Team






Robert E. Matthiessen*






Executive Chairman, President and Chief Executive Officer

Hugh T. Regan, Jr. 




Chief Financial Officer, Secretary and Treasurer

James Pelrin**


Executive Vice President and Chief Operating Officer

*Robert Matthiessen will retire as President and CEO on Dec.31, 2017. He will retain the role of Chairman (no longer referred to as Executive Chairman).

**James Pelrin will assume the roles of President and CEO on Jan. 1, 2018.

Board of Directors






James Pelrin




Executive Vice President and Chief Operating Officer 


Robert E. Matthiessen




Executive Chairman, President and CEO


Steven Abrams, Esq.




Partner, Hogan Lovells US LLP


Joseph W. Dews IV




Partner, AGC Partners


William Kraut




Partner, Newport Board Group LLC

Noteworthy Control



Shares of common stock owned

% of total common shares



Alyn R. Holt*







 Thomas A. Satterfield Jr.







Nokomis Capital, LLC










 Renaissance Technologies










Black Rock, Inc.







*Alyn Holt, inTESTco-founder and former Executive Chairman, passed away in May 2017. His heir has been liquidating his position since his death and their ownership fell below 10% at Sept. 30, 2017, at which point they were no longer required to file reports on their ownership with inTEST Corporation (as their account is broken into sub accounts where no account is in excess of 5% of the company’s outstanding shares).  inTEST believes that his heir has fully liquidated their position in INTT as of today’s publication date, although this had not yet been confirmed.

[All information for NJ Tech Corner was taken from the company’s annual reports and proxy statements and other company sources, with the exception of the company’s stock price and valuation.]

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