InTest Secures $2.6M Defense Industry Contract

InTest has been awarded a $2.6M order from a prime defense contractor for multiple thermal test systems. The systems will be used in the production process for electronics testing on advanced military/aerospace systems and are expected to be shipped over a six-month period starting in Q4.

Title: InTest Corporation Secures $2.6 Million Defense Industry Order

InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions, has announced a significant win in the defense industry. The company has been awarded a $2.6 million order by a prime defense contractor for multiple thermal test systems. These systems, designed and manufactured by InTest's Environmental Technologies Division, will be used in the production process for electronics testing on advanced military/aerospace systems. Shipments are expected to commence in the fourth quarter of this year and will be completed over a six-month period [1].

The order is a validation of InTest's Environmental Technologies' solutions for critical applications, according to Nick Grant, President and CEO of the company. "We have been working with our customer on this order for a while now and believe it validates the importance of our Environmental Technologies’ solutions for critical applications. Our test chambers will be used for ultra-low temperature testing of advanced electronic systems in the production process of certain missiles," Grant said [1].

InTest Corporation operates in key target markets such as semiconductor, automotive/EV, defense/aerospace, industrial, life sciences, and safety/security. The company's growth strategy includes leveraging its engineering expertise and operational excellence to grow organically and through acquisitions. The order supports InTest's confidence in delivering quarter-over-quarter growth through the year [1].

The defense industry is experiencing a surge in spending due to geopolitical volatility and technological advancements. Companies like InTest are well-positioned to benefit from this trend, with Elbit Systems (NASDAQ: ESLT) being another notable player in the sector [3]. Elbit's high-power laser technology is revolutionizing air and missile defense, making it a compelling investment opportunity in a sector poised for sustained growth [3].

This order is a significant milestone for InTest, reinforcing its role as a key player in the defense industry. The company's ability to deliver on such orders will be crucial for maintaining its growth trajectory and meeting investor expectations.

References
[1] https://www.marketscreener.com/news/intest-corporation-receives-2-6-million-defense-industry-order-ce7c5ed9dc8bf12d
[3] https://www.ainvest.com/news/elbit-systems-eslt-high-power-laser-revolution-geopolitically-charged-defense-sector-2508/