inTEST Reports 2021 Second Quarter Financial Results
Condensed Consolidated Balance Sheets Data:
| |
As of: |
| |
6/30/2021 |
|
3/31/2021 |
|
12/31/2020 |
| |
|
|
|
|
|
| Cash and cash equivalents |
$ |
14,625 |
|
$ |
10,195 |
|
$ |
10,277 |
| Trade accounts receivable, net |
|
12,832 |
|
|
13,487 |
|
|
8,435 |
| Inventories |
|
8,702 |
|
|
8,212 |
|
|
7,476 |
| Total current assets |
|
36,687 |
|
|
32,456 |
|
|
26,964 |
| Net property and equipment |
|
2,462 |
|
|
2,538 |
|
|
2,350 |
| Total assets |
|
70,687 |
|
|
67,126 |
|
|
62,030 |
| Accounts payable |
|
3,524 |
|
|
3,655 |
|
|
2,424 |
| Accrued expenses |
|
5,928 |
|
|
5,188 |
|
|
4,388 |
| Total current liabilities |
|
11,717 |
|
|
11,171 |
|
|
8,856 |
| Noncurrent liabilities |
|
7,749 |
|
|
8,106 |
|
|
8,422 |
| Total stockholders' equity |
|
51,221 |
|
|
47,849 |
|
|
44,752 |
Reconciliation of Net Earnings (Loss) (GAAP) to Adjusted Net Earnings (Loss) (Non-GAAP) and Net Earnings (Loss) Per Share – Diluted (GAAP) to Adjusted Net Earnings (Loss) Per Share – Diluted (Non-GAAP):
| |
Three Months Ended |
|
Six Months Ended |
| |
6/30/2021 |
|
6/30/2020 |
|
3/31/2021 |
|
6/30/2021 |
|
6/30/2020 |
| |
|
|
|
|
|
|
|
|
|
| Net earnings (loss) (GAAP) |
$ |
2,609 |
|
|
$ |
170 |
|
|
$ |
2,212 |
|
|
$ |
4,821 |
|
|
$ |
(973 |
) |
| Acquired intangible amortization |
|
305 |
|
|
|
309 |
|
|
|
304 |
|
|
|
609 |
|
|
|
620 |
|
| Tax adjustments |
|
(4 |
) |
|
|
(5 |
) |
|
|
(4 |
) |
|
|
(8 |
) |
|
|
(9 |
) |
| Adjusted net earnings (loss) (Non-GAAP) |
$ |
2,910 |
|
|
$ |
474 |
|
|
$ |
2,512 |
|
|
$ |
5,422 |
|
|
$ |
(362 |
) |
| |
|
|
|
|
|
|
|
|
|
| Diluted weighted average shares outstanding |
|
10,765 |
|
|
|
10,259 |
|
|
|
10,526 |
|
|
|
10,645 |
|
|
|
10,237 |
|
| |
|
|
|
|
|
|
|
|
|
| Net earnings (loss) per share – diluted: |
|
|
|
|
|
|
|
|
|
| Net earnings (loss) (GAAP) |
$ |
0.24 |
|
|
$ |
0.02 |
|
|
$ |
0.21 |
|
|
$ |
0.45 |
|
|
$ |
(0.10 |
) |
| Acquired intangible amortization |
|
0.03 |
|
|
|
0.03 |
|
|
|
0.03 |
|
|
|
0.06 |
|
|
|
0.06 |
|
| Tax adjustments |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Adjusted net earnings (loss) per share – diluted (Non-GAAP) |
$ |
0.27 |
|
|
$ |
0.05 |
|
|
$ |
0.24 |
|
|
$ |
0.51 |
|
|
$ |
(0.04 |
) |
| |
|
|
|
|
|
|
|
|
|
