InTest Corporation, a global leader in innovative
InTest Corporation, a global leader in innovative test and process technology solutions, has announced its VISION 2030 strategy, a comprehensive roadmap aimed at driving significant growth and profitability over the next five years. The company, which serves key target markets including semiconductor manufacturing, automotive and electric vehicles (EV), defense and aerospace, industrial, life sciences, and safety and security, will present its strategic vision at its previously announced investor Strategy Briefing.
The Strategy Briefing will be led by Nick Grant, President and Chief Executive Officer, along with Duncan Gilmour, Chief Financial Officer. The executives will highlight InTest’s progress and accomplishments since implementing its 5-Point Strategy in 2021 and will outline the ambitious goals and priorities set forth in VISION 2030.
Progress Since 2021
Under the leadership of Grant and Gilmour, InTest has achieved significant milestones. The implementation of the 5-Point Strategy has led to a notable expansion of the company’s customer base, an increased global presence, enhanced innovation in product development, and a rise in service revenue. The company has also strengthened its internal team, positioning itself for continued growth.
Mr. Grant commented on the company’s achievements: “Since 2021, we have executed our 5-Point Strategy with great success. We have expanded our reach, driven technological advancements, and consistently increased revenue year over year. We have built a solid foundation focused on operational excellence and financial strength. As we move forward with VISION 2030, we are confident that we have the right team, processes, and technologies in place to propel InTest to new heights.”
Revenue Goals and Financial Outlook
InTest has set an ambitious revenue target for 2030, projecting revenue growth to reach between $235 million and $285 million. This projection is based on an estimated 7% to 9% organic growth rate, with an additional $50 million to $60 million anticipated from acquired revenue, along with an expected $10 million to $20 million in further growth stemming from future acquisitions. At the midpoint of this target range, the company aims to achieve a 20% operating margin and a 10% net income margin.
These financial goals reflect InTest’s commitment to long-term shareholder value creation. By strategically balancing organic growth with acquisitions, the company expects to drive sustained profitability and market expansion. The leadership team remains focused on optimizing operational efficiencies while investing in research and development to maintain technological leadership.
Strategic Execution and Market Expansion
InTest’s VISION 2030 strategy encompasses several key focus areas:
- Innovation and Product Development: Continuing to drive the development of cutting-edge test and process technology solutions tailored to the evolving needs of its target industries.
- Geographic Expansion: Strengthening its global footprint by penetrating new markets and deepening its presence in existing ones.
- Customer Diversification: Expanding its customer base across industries to reduce dependency on any single market segment.
- Operational Excellence: Enhancing efficiency and scalability through process optimization and advanced manufacturing techniques.
- Strategic Acquisitions: Identifying and integrating complementary businesses to enhance capabilities and expand market reach.
These strategic initiatives are designed to solidify InTest’s leadership position in the industry while unlocking new revenue streams and fostering sustainable growth.
Investor Strategy Briefing and NYSE Opening Bell Ceremony
As previously announced, InTest will host a live video webcast of the Strategy Briefing, scheduled to begin at 10:30 AM ET and conclude at approximately 12:30 PM ET. Investors and stakeholders can access the live webcast via the Investor Relations section of the company’s website, where a copy of the presentation slides will also be available. A replay and transcript of the briefing will be posted once they become available.
Additionally, to mark this significant occasion, the InTest executive team will participate in the ceremonial ringing of the opening bell at the New York Stock Exchange (NYSE). The event will be streamed live on the NYSE website, providing an opportunity for the broader investment community to celebrate this milestone alongside the company.
About InTest Corporation
InTest Corporation is a global supplier of advanced test and process technology solutions that support critical applications across a diverse range of industries. The company specializes in providing solutions for both the front-end and back-end of the semiconductor manufacturing process, as well as addressing needs in automotive and EV, defense and aerospace, industrial, life sciences, and safety and security markets.
With a deep-rooted engineering expertise and a commitment to operational excellence, InTest is dedicated to solving complex thermal, mechanical, and electronic challenges for its customers worldwide. The company’s growth strategy is driven by organic expansion, strategic acquisitions, and continued innovation in high-performance technologies.
As InTest moves forward with its VISION 2030 strategy, it remains steadfast in its mission to deliver value to its customers, employees, and shareholders, positioning itself as a leader in the global test and process technology industry.
