EXHIBIT 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

inTEST REPORTS 2020 SECOND QUARTER FINANCIAL RESULTS

●     Net Revenues of $13.3 Million Increased 18% Sequentially and Were 10% Above Consensus Estimates;

●     GAAP Earnings Per Share of $0.02 Increased by $0.13 Sequentially

Mt. Laurel, NJ - Aug. 6, 2020 - inTEST Corporation (NYSE American: INTT), a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications, today announced financial results for the quarter ended June 30, 2020.

2020 Second Quarter Financial Summary

($ in Millions, Except Per Share Data)	Three Months Ended
	6/30/2020			3/31/2020			6/30/2019
Semi Market Bookings (1)	$	7.3		$	6.7		$	8.6
Multimarket Bookings (2)		6.6			7.1			7.3
Total Bookings	$	13.9		$	13.8		$	15.9
Semi Market Bookings (1) - % of Total Bookings		52	%		49	%		54	%
Multimarket Bookings (2) - % of Total Bookings		48	%		51	%		46	%
Semi Market Net Revenues (1)	$	6.9		$	5.0		$	7.7
Multimarket Net Revenues (2)		6.4			6.2			6.7
Total Net Revenues	$	13.3		$	11.2		$	14.4
Semi Market Net Revenues (1) - % of Total Net Revenues		52	%		45	%		53	%
Multimarket Net Revenues (2) - % of Total Net Revenues		48	%		55	%		47	%
Gross Margin	$	6.1		$	4.9		$	6.7
Gross Margin		46	%		43	%		47	%
Net Earnings (Loss) (GAAP)	$	0.2		$	(1.1	)	$	(0.2	)
Net Earnings (Loss) per diluted share (GAAP)	$	0.02		$	(0.11	)	$	(0.02	)
Adjusted Net Earnings (Non-GAAP) (3)	$	0.5		$	(0.8	)	$	0.1
Adjusted Net Earnings per diluted share (Non-GAAP) (3)	$	0.05		$	(0.08	)	$	0.01
EBITDA (Non-GAAP) (3)	$	0.7		$	(0.9	)	$	0.2
	As of
	6/30/2020			3/31/2020			12/31/2019
Cash and cash equivalents	$	7.4		$	7.3		$	7.6

(1)	Semi Market: These amounts include all bookings and net revenues from the semiconductor market.
(2)	Multimarket: These amounts include all bookings and net revenues from markets other than the semiconductor market.
(3)	Adjusted Net Earnings, Adjusted Net Earnings per diluted share and EBITDA are non-GAAP financial measures. Further information can be found under “Non-GAAP Results.” See also the reconciliation of GAAP measures to non-GAAP measures that accompanies this earnings release.

2020 Six Month Year-to-Date Financial Summary

($ in Millions, Except Per Share Data)	Six Months Ended
	6/30/2020			6/30/2019
Semi Market Bookings (4)	$	14.0		$	14.2
Multimarket Bookings (5)		13.7			13.6
Total Bookings	$	27.7		$	27.8
Semi Market Bookings (4) - % of Total Bookings		51	%		51	%
Multimarket Bookings (5) - % of Total Bookings		49	%		49	%
Semi Market Net Revenues (4)	$	11.9		$	17.7
Multimarket Net Revenues (5)		12.6			14.7
Total Net Revenues	$	24.5		$	32.4
Semi Market Net Revenues (4) - % of Total Net Revenues		48	%		55	%
Multimarket Net Revenues (5) - % of Total Net Revenues		52	%		45	%
Gross Margin	$	10.9		$	15.6
Gross Margin		45	%		48	%
Net Earnings (Loss) (GAAP)	$	(1.0	)	$	1.0
Net Earnings (Loss) per diluted share (GAAP)	$	(0.10	)	$	0.09
Adjusted Net Earnings (Loss) (Non-GAAP) (6)	$	(0.4	)	$	1.6
Adjusted Net Earnings (Loss) per diluted share (Non-GAAP) (6)	$	(0.04	)	$	0.15
EBITDA (Non-GAAP) (6)	$	(0.3	)	$	2.2

(4)	Semi Market: These amounts include all bookings and net revenues from the semiconductor market.
(5)	Multimarket: These amounts include all bookings and net revenues from markets other than the semiconductor market.
(6)	Adjusted Net Earnings, Adjusted Net Earnings per diluted share and EBITDA are non-GAAP financial measures. Further information can be found under “Non-GAAP Results.” See also the reconciliation of GAAP measures to non-GAAP measures that accompanies this earnings release.

Commenting on the Company’s second quarter financial results, inTEST CFO and interim CEO Hugh Regan, Jr. noted, “Our results for the quarter exceeded expectations, resulting in both revenue and profitability growth. While the overall environment continues to be challenging, largely in light of the COVID-19 pandemic resurgence, we are seeing positive signs in the markets we serve, particularly as they relate to semiconductor manufacturers. Our semiconductor related revenues increased 37% compared to the first quarter of 2020. Consolidated revenues increased 18% sequentially, and were 2% above our guidance and 10% above consensus estimates. Non-GAAP adjusted net earnings per diluted share increased from a loss of $0.08 per share in the first quarter of 2020 to earnings of $0.05 for the 2020 second quarter.”

2020 Third Quarter Financial Outlook

inTEST’s guidance for the 2020 third quarter includes both GAAP and non-GAAP estimates. A reconciliation between these GAAP and non-GAAP financial measures is included below.

Actual results may differ materially as a result of, among other things, the factors described under “Forward-Looking Statements” below.

inTEST expects that net revenues for the third quarter of 2020 will be in the range of $13.5 million to $14.5 million and that on a GAAP basis, net earnings per diluted share will range from $0.01 to $0.06. On a non-GAAP basis, we expect our adjusted net earnings per diluted share will range from $0.04 to $0.09. In addition, we expect that gross margin will range from 46% to 48%. This outlook is based on the Company’s current views with respect to operating and market conditions and customers’ forecasts, all of which are subject to change.

2020 Second Quarter Supplemental Information and Conference Call Details

inTEST is providing Supplemental Information (“Information”) in combination with its press release. This Information is offered to provide stockholders and analysts with additional time and detail for analyzing the Company’s financial results in advance of the Company’s quarterly conference call. The Information will be available in conjunction with the press release on inTEST’s website www.intest.com, under the “Investors” section.

inTEST management will host a conference call on Thursday, August 6, 2020 at 6:00 pm Eastern Daylight Time. The conference call will address the Company’s 2020 second quarter financial results, and management’s current expectations and views of the industry. The call may also include a discussion of strategic, operating, product initiatives or developments, and other matters relating to the Company’s current or future performance. To access the live conference call, please dial (323) 794-2598 or (800) 458-4121. The Passcode for the conference call is 1878028. Please reference the inTEST 2020 Q2 Financial Results Conference Call.

2020 Second Quarter Live Webcast Details

inTEST Corporation will provide a webcast in conjunction with the conference call. To access the live webcast, please visit inTEST’s website www.intest.com, under the “Investors” section.

2020 Second Quarter Replay Details (Webcast)

A replay of the webcast will be available on inTEST’s website for one year following the live broadcast. To access the webcast replay, please visit inTEST’s website www.intest.com, under the “Investors” section.

Submit Questions

In advance of the conference call, and for those investors accessing the webcast, inTEST Corporation welcomes individual investors to submit their questions via email to laura@ga-ir.com.

Non-GAAP Results

In addition to disclosing results that are determined in accordance with GAAP, we also disclose non-GAAP financial measures. These non-GAAP financial measures include adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and EBITDA. Adjusted net earnings (loss) is derived by adding acquired intangible amortization, adjusted for the related income tax expense (benefit), to net earnings (loss). Adjusted net earnings (loss) per diluted share is derived by dividing adjusted net earnings (loss) by diluted weighted average shares outstanding. EBITDA is derived by adding acquired intangible amortization, interest expense, income tax expense, and depreciation to net earnings (loss). These results are provided as a complement to the results provided in accordance with GAAP. Adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and EBITDA are non-GAAP financial measures presented to provide investors with meaningful, supplemental information regarding our baseline performance before acquired intangible amortization charges and changes in the estimate of future consideration that may be paid out related to prior acquisitions as these expenses or income items may not be indicative of our current core business or future outlook. These non-GAAP financial measures are used by management to make operational decisions, to forecast future operational results, and for comparison with our business plan, historical operating results and the operating results of our peers. A reconciliation from net earnings (loss) and net earnings (loss) per diluted share to adjusted net earnings (loss) and adjusted net earnings (loss) per diluted share and from net earnings (loss) to EBITDA, which are discussed in this earnings release, is contained in the tables below. The non-GAAP financial measures discussed in this earnings release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP financial measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP.

About inTEST Corporation

inTEST Corporation is a global supplier of precision-engineered solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications. Backed by decades of engineering expertise and a culture of operational excellence, we solve difficult thermal, mechanical and electronic challenges for customers worldwide while generating strong cash flow and profits. Our strategy uses these strengths to grow and increase stockholder value by maximizing our businesses and by identifying, acquiring and optimizing complementary businesses.

For more information visit www.intest.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of our plans, strategies and intentions, or our future performance or goals, that are based upon management's current expectations. Our forward-looking statements can often be identified by the use of forward-looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “plans,” “projects,” “forecasts,” “outlook,” “anticipates” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.

In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the impact of the COVID-19 pandemic on our business, liquidity, financial condition and results of operations, including as a result of evolving public health requirements in response to the pandemic such as government mandated facility closures, availability of employees, supply chain and distribution interruptions, customers’ inability or refusal to accept product deliveries and the sufficiency of our current level of working capital to address our cash requirements; indications of a change in the market cycles in the Semi Market or other markets we serve including as a result of the COVID-19 pandemic; changes in business conditions and general economic conditions both domestically and globally; changes in the demand for semiconductors, generally and as a result of the COVID-19 pandemic; the success of our strategy to diversify our business by entering markets outside the Semi Market; the possibility of future acquisitions or dispositions and the successful integration of any acquired operations; our ability to borrow funds or raise capital to finance potential acquisitions; changes in the rates and timing of capital expenditures by our customers including as a result of the COVID-19 pandemic; success of product development programs; increases in raw material and fabrication costs associated with our products; and other risk factors set forth from time to time in our Securities and Exchange Commission filings, including, but not limited to, our annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the quarter ended March 31, 2020 and subsequent quarterly reports on Form 10-Q. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks to circumstances only as of the date on which it is made. We undertake no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

Contacts
inTEST Corporation	Investors:
Hugh T. Regan, Jr.	Laura Guerrant-Oiye, Principal
Treasurer and Chief Financial Officer	Guerrant Associates
Tel: 856-505-8999	laura@ga-ir.com
	Tel: (808) 960-2642

– tables follow –

SELECTED FINANCIAL DATA

(Unaudited)

(In thousands, except per share data)

Condensed Consolidated Statements of Operations Data:

	Three Months Ended									Six Months Ended
	6/30/2020			6/30/2019			3/31/2020			6/30/2020			6/30/2019
Net revenues	$	13,275		$	14,352		$	11,230		$	24,505		$	32,414
Gross margin		6,067			6,719			4,867			10,934			15,555
Operating expenses:
Selling expense		1,761			2,087			2,052			3,813			4,461
Engineering and product development expense		1,217			1,208			1,292			2,509			2,492
General and administrative expense		2,888			3,718			2,884			5,772			7,455
Operating income (loss)		201			(294	)		(1,361	)		(1,160	)		1,147
Other income (loss)		(18	)		(6	)		(32	)		(50	)		15
Earnings (loss) before income tax expense (benefit)		183			(300	)		(1,393	)		(1,210	)		1,162
Income tax expense (benefit)		13			(113	)		(250	)		(237	)		211
Net earnings (loss)		170			(187	)		(1,143	)		(973	)		951
Net earnings (loss) per share – basic	$	0.02		$	(0.02	)	$	(0.11	)	$	(0.10	)	$	0.09
Weighted average shares outstanding – basic		10,252			10,411			10,221			10,237			10,398
Net earnings (loss) per share – diluted	$	0.02		$	(0.02	)	$	(0.11	)	$	(0.10	)	$	0.09
Weighted average shares outstanding – diluted		10,259			10,411			10,221			10,237			10,420

Condensed Consolidated Balance Sheets Data:

	As of:
	6/30/2020		3/31/2020		12/31/2019
Cash and cash equivalents	$	7,424	$	7,318	$	7,612
Trade accounts receivable, net		9,457		8,052		9,296
Inventories		7,930		7,720		7,182
Total current assets		25,256		23,776		24,895
Net property and equipment		2,295		2,341		2,420
Total assets		59,858		59,059		59,715
Accounts payable		2,618		2,299		1,984
Accrued expenses		4,163		3,754		4,207
Total current liabilities		8,790		8,016		8,361
Noncurrent liabilities		6,889		7,277		6,520
Total stockholders' equity		44,179		43,766		44,834

Reconciliation of Net Earnings (Loss) (GAAP) to Adjusted Net Earnings (Non-GAAP) and Net Earnings (Loss) Per Share – Diluted (GAAP) to Adjusted Net Earnings Per Share – Diluted (Non-GAAP):

	Three Months Ended									Six Months Ended
	6/30/2020			6/30/2019			3/31/2020			6/30/2020			6/30/2019
Net earnings (loss) (GAAP)	$	170		$	(187	)	$	(1,143	)	$	(973	)	$	951
Acquired intangible amortization		309			315			311			620			632
Tax adjustments		(5	)		(3	)		(4	)		(9	)		(8	)
Adjusted net earnings (loss) (Non-GAAP)	$	474		$	125		$	(836	)	$	(362	)	$	1,575
Diluted weighted average shares outstanding		10,259			10,425			10,221			10,237			10,420
Net earnings per share – diluted:
Net earnings (loss) (GAAP)	$	0.02		$	(0.02	)	$	(0.11	)	$	(0.10	)	$	0.09
Acquired intangible amortization		0.03			0.03			0.03			0.06			0.06
Tax adjustments		-			-			-			-			-
Adjusted net earnings (loss) per share – diluted (Non-GAAP)	$	0.05		$	0.01		$	(0.08	)	$	(0.04	)	$	0.15

Reconciliation of Net Earnings (Loss) (GAAP) to EBITDA (Non-GAAP):

	Three Months Ended								Six Months Ended
	6/30/2020		6/30/2019			3/31/2020			6/30/2020			6/30/2019
Net earnings (loss) (GAAP)	$	170	$	(187	)	$	(1,143	)	$	(973	)	$	951
Acquired intangible amortization		309		315			311			620			632
Interest expense		25		-			-			25			-
Income tax expense (benefit)		13		(113	)		(250	)		(237	)		211
Depreciation		155		184			155			310			365
EBITDA (Non-GAAP)	$	672	$	199		$	(927	)	$	(255	)	$	2,159

Supplemental Information – Reconciliation of Third Quarter 2020 Estimated Net Earnings Per Share – Diluted (GAAP) to Estimated Adjusted Net Earnings Per Share – Diluted (Non-GAAP):

	Low		High
Estimated net earnings per share – diluted (GAAP)	$	0.01	$	0.06
Estimated acquired intangible amortization		0.03		0.03
Estimated tax adjustments		-		-
Estimated adjusted net earnings per share – diluted (Non-GAAP)	$	0.04	$	0.09

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