inTest Corp. (INTT)

[umiak]

lmao

[Rawnoc]

Wise so far.

[Rawnoc]

HA! Actually the CFO was telling me that one investor would camp outside of the place counting trucks going in and out and he even joined the CFO's gym and would wait for him there then ask him questions daily the entire time he was trying to work out. Had to change gyms the guy was so annoying.

Maybe I'll seal myself in a box. Would like to visit Southeast Asia anyway.

[Bobwins]

Perhaps we need more in depth reporting. Next time, I think you should seal yourself in the outgoing shipment containers and report first hand where the orders are being shipped and what is the activity at the buyer's factories. By examining the entire supply chain, you can verify END USER consumption that will lead to even more INTT orders. With mobile internet, you should be able to report your findings well before you starve to death in the ocean container. BTW we won't need any photos of the inside of the container but live video from the customer's factories would be good!

Waiting for your next LIVE or possibly LIVE report!

[Rawnoc]

Seems like things turned less robust toward the end of Q2.

My gut says the kool aid will be sweetened again because of the emphasis on 3rd party orders when I made my visit. Who knows....still seems ridiculously undervalued at $3.50 any way you slice it. No reason this shouldn't be at least at $5+

[Bobwins]

My gut says the Kool Aid was sour! So close to launch formula but that one sentence signaled ABORT!!!!

Full earnings announcement might put a little better spin on things plus they'll have another week to judge the backlog trend.

We'll see. Tough to make a buck lately.


Bobwins

[Rawnoc]

My gut tells me that bookings for Q3 will be higher than Q2.

[Bobwins]

I bought a few more trading shares at 3.53. We'll see if this stupid selloff has bottomed or not.

[Hairy Calls]

Do you think "slight decline" is .10 worth?

[Bobwins]

thud! So they make .20 eps for Q3. That qualifies them for a 5 fwd p/e??? Guess it's the sector. All momentum and sentiment driven and chips are scary, even though the industry has outperformed from Intel on down.

[SSKILLZ1]

The booking might send this stock below $4. But then again I've been wrong a lot, so this could just be another example of me being wrong. All is just my opinion, and I could always be wrong though.

[Bobwins]

BUT bookings are down to 12.2 million vs 14 million in Q1. That translates into lower gross revs for Q3. So today won't be a total lovefest! It will be positive but not a screaming rocket ride.

Assume .20eps for Q3. Using that instead of .30eps for a fwd calculation and you get .80eps. Slap a 8X multiple on that and you still get over $6!

I am skeptical the market is going to send it over $6 today. Not well known and does require a strong chip market going forward.

But still a great report and we should see some fireworks, just not the rocket ride that would have happened if bookings were sequentially higher.

Bobwins

[Hairy Calls]

$4.40 pm

[Hairy Calls]

.30 for the q...outstanding nice call Mike and Raw!

http://finance.yahoo.com/news/inTEST-Announces-Preliminary-iw-1788364006.html?x=0&.v=1

CHERRY HILL, NJ--(Marketwire - 07/27/10) - inTEST Corporation (NASDAQ:INTT - News), an independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced preliminary, selected unaudited results for the quarter ended June 30, 2010, which are subject to change. The news release announcing final results for the quarter ended June 30, 2010 is expected to be disseminated on Wednesday, August 11, 2010, after the market close.

Net revenues for the quarter ended June 30, 2010 were approximately $15.3 million, compared to $9.5 million for the first quarter of 2010. Net income for the quarter ended June 30, 2010 was approximately $3.1 million or $0.30 per diluted share, compared to $1.1 million or $0.11 per diluted share for the first quarter of 2010.

Bookings for the quarter ended June 30, 2010 were approximately $12.2 million, compared to $14.0 million in bookings for the first quarter of 2010.

Robert E. Matthiessen, President and Chief Executive Officer of inTEST, commented, "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. While bookings were a multiple higher than the $4.6 million in the year ago period, we did experience a slight pullback in bookings in the second quarter compared to the first quarter of 2010. Within the quarter over quarter number, we believe the slight decline is a direct result of some pull-in of bookings at the end of the first quarter that would normally have been in the second quarter. As a result of the reduced bookings in the second quarter, we currently expect net revenues and net income for the third quarter ended September 30, 2010 will be between the levels achieved in the first and second quarters of 2010. Overall, we remain optimistic in our business outlook but expect there will be some variability in results as we move forward given our recent strong operating levels."

August 11th Investor Conference Call / Webcast Details:

The news release announcing final results for the quarter ended June 30, 2010 is expected to be disseminated on Wednesday, August 11, 2010, after the market close, followed by the Company's quarterly conference call with investors and analysts at 5:00 pm EDT to discuss the Company's results and management's current expectations and views of the industry. The call may also include discussions of strategic, operating, product initiatives or developments, or other matters relating to the Company's current or future performance.

The dial-in number for the live audio call beginning at 5 p.m. EDT on August 11, 2010 is [phone]. A live web cast of the conference call will be available on inTEST's website at www.intest.com. A replay of the call will be available 2 hours following the call through midnight on Wednesday, August 18, 2010 at www.intest.com and by telephone at [phone]. The conference ID number to access the replay is 354030.

[Hairy Calls]

I wish I knew but I hope it's pm.

[Rawnoc]

I forget, does INTT normally pre-announce earnings in premarket or after hours? I know the actual earnings announcement is after hours.

[jaybird249]

Yes I am loaded up on INTT and SMTX. Both trading at 3 forward PE's.

[Rawnoc]

Only companies related to INTT would be on topic here and those that I like include KLIC, ISSI, KTCC, SMTX, RELL, and one other I forget at the moment

[Bobwins]

It's a secret but my sell price is higher than $4.25! LOL!

[John Bates]

Well, if they knock it out of the ballpark, let those trading shares go at 4.25 so we can catch up quickly.

[jaybird249]

I'll talk about it with you. INTT my second biggets holding.

Which others do you like now.

[P51-D]

INTT............she's just a little baby......

[Rawnoc]

After hours I think their PRs are normally.

[Hairy Calls]

little ah action...1k @ 4.20

[Hairy Calls]

any guesses as to what time they will pre-announce?

[Rawnoc]

Fingers and toes all crossed.

[Bobwins]

Got some trading shares at the open at $4. So far so good. Up to 4.19 now. Just have to wait until tomorrow to find out if I have a lump of coal or a diamond in the bag!

[Rawnoc]

This thing flies with ease...

[umiak]

new hod

[Rawnoc]

Agreed on long term....I'm going with the Buy and Homework on this one. Short term I think much more is possible than $4.50 if the market cooperates.

Kind of a bad/good thing in once is the lack of analyst coverage. Good that it makes it off radar and could shock the street with good earnings. Bad that it makes it off radar and hard for the street to find the damn thing in the first place and give some earnings estimates.

[dffhogs]

I got some in the 3.60's last week to go with the 4's I got a month or so a ago.

Short term, I hope to take some off in the 4.50's....Long term, not sure of a target, will follow the filings and charts.

[Rawnoc]

So you got any INTT ???? What's your thoughts on our beloved kool-aid stock?

[Rawnoc]

You know they're gonna try to at least push it past $6 just so the dude can cash out some coin. And that could mean delaying certain expenses to improve the bottom line or channel stuff if possible or whatever need be to squeeze more profit.....JMO

Yes, the kool aid is nice.

[Bobwins]

ok, I'm going to drink some more Kool Aid on Monday and buy some trading shares. Won't have to wait long to find out which way the wind is blowing. Thanks. Bobwins

[Rawnoc]

They don't report backlog because whatever backlog they have isn't very old. They only report orders throughout the quarter instead of a one day snapshot of backlog at the end.

The problem with my visit is that it was at the very beginning of Q3 so it`s tough to gage how the Q will be. On the one hand every indication from them is that boom times are ahead and will continue. On the other hand the CFO warned me that things can turn south without warning very fast in this business.

That said, he made it very clear to me that he "thinks" the stock is going much higher this cycle as his options trading plan has an automatic sale at $6 but he won't sell any shares at that price because he thinks that`s too ridiculously cheap. He said the only reason he has anything for sale at $6 is because it`s the portion that's part of his compensation.

All that said, I get the feeling Q3 will be eveb stronger because of third party deals for starters. It seems like the industry and especially their niche has a lot of catching up to do in terms of meeting demand, and with one of their key competitors belly up it should continue to be a wild party for them is my WAG.

[Bobwins]

My big question is backlog going forward. We know they are going to have a good Q2 based on previously disclosed backlog and short turnaround time from backlog to revs.

Did you get any feeling during your visit about current backlog and confidence that increased sales will continue?

I think any backlog comments during the earnings reports for Q2 will control the direction of the share price and the magnitude of any positive runup.

Of course overall markets during the next two weeks, particularly sentiment towards overall economic growth will also weigh heavily on INTT share price results.

Bobwins

[Rawnoc]

Post here more. I would love to talk about INTT all day long.

The board isn't dead because I'm unwilling to use it. Hell, I actually visited INTT so I have pleeeeeeeeeeeeeeeeeeeeenty to talk about.

Maybe I need to pay some bashers or something to come here.

Though JBIIE is by far the more interesting story with a bigger potential return IMO, my position in INTT is larger by a wide margin (both in value and $$ invested).

That also said, I don't plan on holding INTT long term. Mostly because I don't think I'll have to. I think she booms very soon. :)

[dffhogs]

Lookin at your post history, you dont want to talk about it either....but you seem to luv JBIIE.....

just sayin...

[Rawnoc]

Nobody wants to talk about INTT with me so you'd never know it's my biggest lol

[dffhogs]

Thought that would be JBIIE....lol

[Rawnoc]

I meant I hope the high of 4.65 gets annihilated meaning the new high I hope is something much higher than that.

[cardvic]

Why would you want INTT annihilated next week if you are a current shareholder?

[Hairy Calls]

Same here and probably to big but seems like a no-brainer...Nice find!

[Rawnoc]

Me too since INTT is my biggest position by a wide margin.

[Hairy Calls]

I hope "annihilated" ends up being conservative

[Rawnoc]

4.65 = 3 year high. I think/hope it gets annihilated next week.

[Hairy Calls]

Nice day here...hoping for a big week next week.

[Hairy Calls]

Someone had a couple of 18k chunks to get rid of. Hopefully the 16k left on the ask is the last of it.

[P51-D]

Partial trade on earnings????.......Guidance?

[Fishin' Canuck]

Would be nice.