The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jaeson Schmidt - Lake Street Capital Markets, LLC - Analyst
: I know that Q1 is almost over but just curious if you could just discuss what you've seen from an order pattern perspective. I know orders were up
sequentially in Q4. Just curious if that trend has continued here in Q1.
Question: Jaeson Schmidt - Lake Street Capital Markets, LLC - Analyst
: Okay. That's really helpful. And then on the semi market, I know you highlighted it's becoming a smaller piece of the pie. But just given the volatility
in that end market, would be curious what you're seeing from a visibility perspective there and how you're thinking about trends in that market
for the year.
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MARCH 28, 2024 / 12:30PM, INTT.A - Q4 2023 inTest Corp Earnings Call
Question: Jaeson Schmidt - Lake Street Capital Markets, LLC - Analyst
: I'm sorry, the semi market.
Question: Jaeson Schmidt - Lake Street Capital Markets, LLC - Analyst
: Got it. And then just the last one from me, and I'll jump back into queue. I know you highlighted all the bullet points on the Alfamation acquisition
a couple of weeks ago. But when you look at your outlook for the year, does that assume that you can hit the ground running with Alfamation, or
are you expecting any sort of just general friction out of the gate as things get integrated here?
Question: Jaeson Schmidt - Lake Street Capital Markets, LLC - Analyst
: Okay. Perfect. Appreciate the color, guys.
Question: Ted Jackson - Northland Securities, Inc. - Analyst
: So, Duncan, just a quick question for you. We've put -- it's like $1.3 million deferred revenue on the balance sheet now that will be burned off over
time. Is there a timeline you can put around that? I mean, is that something we should see happening over the next 12 months, two years? I mean,
is there something that we should be doing with the modeling?
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MARCH 28, 2024 / 12:30PM, INTT.A - Q4 2023 inTest Corp Earnings Call
Question: Ted Jackson - Northland Securities, Inc. - Analyst
: Okay. And then we had a nice discussion from you all with regards to the semi market which was very informative. But can we talk a bit about
industrials and what's driving your business there? I mean, it's actually -- just, I mean, simply put, it has performed well throughout the past two
years from reported levels, also on your ordering level. What's driving that growth, and what do you see will be the same drivers that drive growth
going forward?
Question: Ted Jackson - Northland Securities, Inc. - Analyst
: If you move away from your products, which it's nice to have a diversity in terms of the products you're selling into the industrial segment, are
there particular industrial markets that are more important to you than others?
Question: Ted Jackson - Northland Securities, Inc. - Analyst
: Okay. And then I'll step out of line for this question, but I'm just kind of sticking into the different verticals and end markets on the order side. The
security business, the orders were -- I mean, they fell off a cliff, and I'm kind of curious as to what's going on within the security business? What's
the reason for the big drop the fourth quarter and how can we think about that in 2024?
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MARCH 28, 2024 / 12:30PM, INTT.A - Q4 2023 inTest Corp Earnings Call
Question: Ted Jackson - Northland Securities, Inc. - Analyst
: Would you expect to see that business -- I mean, I don't know. I mean, you had a really good year in '22, and this year was clearly down a bit from
that. I mean, do you expect that business to grow in '24 from fiscal '23?
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