SELECTED FINANCIAL DATA (Unaudited) (In thousands, except per share data) Condensed Consolidated Statements of Operations Data: Three Months Ended Six Months Ended -------------------------------- --------------------- 6/30/2017 6/30/2016 3/31/2017 6/30/2017 6/30/2016 ---------- ---------- ---------- ---------- ---------- Net revenues $ 15,888 $ 10,485 $ 14,180 $ 30,068 $ 19,132 Gross margin 8,421 5,329 7,728 16,149 9,396 Operating expenses: Selling expense 1,871 1,471 1,668 3,539 2,806 Engineering and product development expense 982 982 935 1,917 1,973 General and administrative expense 3,286 2,145 1,994 5,280 3,790 Operating income 2,282 731 3,131 5,413 827 Other income 54 18 41 95 46 Earnings before income tax expense 2,336 749 3,172 5,508 873 Income tax expense 891 263 1,094 1,985 306 Net earnings 1,445 486 2,078 3,523 567 Net earnings per share - basic $ 0.14 $ 0.05 $ 0.20 $ 0.34 $ 0.05 Weighted average shares outstanding - basic 10,277 10,296 10,265 10,271 10,343 Net earnings per share - diluted $ 0.14 $ 0.05 $ 0.20 $ 0.34 $ 0.05 Weighted average shares outstanding - diluted 10,335 10,311 10,295 10,315 10,357 Condensed Consolidated Balance Sheets Data: As of: -------------------------------- 6/30/2017 3/31/2017 12/31/2016 ---------- ---------- ---------- Cash and cash equivalents $ 7,596 $ 27,455 $ 28,611 Trade accounts receivable, net 11,938 9,817 5,377 Inventories 6,212 3,921 3,676 Total current assets 26,375 41,567 38,006 Net property and equipment 1,525 934 944 Total assets 56,704 46,353 42,844 Accounts payable 2,823 1,833 1,368 Accrued expenses 4,919 2,975 3,113 Total current liabilities 9,732 6,433 5,056 Noncurrent liabilities 5,354 - - Total stockholders' equity 41,618 39,920 37,788 Condensed Consolidated Balance Sheets Data: As of: -------------------------------- 6/30/2017 3/31/2017 12/31/2016 ---------- ---------- ---------- Cash and cash equivalents $ 7,596 $ 27,455 $ 28,611 Trade accounts receivable, net 11,938 9,817 5,377 Inventories 6,212 3,921 3,676 Total current assets 26,375 41,567 38,006 Net property and equipment 1,525 934 944 Total assets 56,704 46,353 42,844 Accounts payable 2,823 1,833 1,368 Accrued expenses 4,919 2,975 3,113 Total current liabilities 9,732 6,433 5,056 Noncurrent liabilities 5,354 - - Total stockholders' equity 41,618 39,920 37,788
inTEST Reports 2017 Second Quarter Financial Results
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