inTEST Corporation (NASDAQ:INTT) , an independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced results for the quarter ended September 30, 2008.
Net revenues for the quarter ended September 30, 2008 were $9.2 million, compared to $11.5 million in the second quarter of 2008. Our net loss for the third quarter of 2008 was $(2.0) million or $(0.22) per diluted share, compared to a net loss of $(1.4) million or $(0.15) per diluted share for the second quarter of 2008. The net loss for the third quarter of 2008 included charges for impairment of long-lived assets of $133,000 or $0.01 per diluted share and restructuring charges of $61,000 or $0.01 per diluted share, while the net loss for the second quarter of 2008 included restructuring charges of $200,000 or $.02 per diluted share. The impairment of long-lived assets is related to the planned closure of our Amerang, Germany manufacturing facility which was previously announced and the restructuring charges are the result of one-time termination benefits related to our workforce reductions.
Robert E. Matthiessen, President and Chief Executive Officer of inTEST commented, "the continuing weakness and turmoil of the macroeconomic environment has caused a significant reduction in capital spending in the semiconductor industry. This, in turn, has resulted in a decrease in our bookings in the third quarter to $8.2 million, compared to $10.0 million in the second quarter of 2008. With that in mind, we have implemented further restructuring to right-size our operations to the anticipated revenue levels of the foreseeable future. This effort will result in additional restructuring costs in the fourth quarter of 2008. On the positive side, we have begun the integration of Sigma Systems Corporation which we acquired on October 6, 2008.
Sigma is a manufacturer of thermal platforms, custom configured environmental chambers and other environmental test solutions. Sigma will be joining inTEST in a strategic fit with Temptronic that will greatly expand our product offerings outside the semiconductor market, including the automotive, medical/pharmaceutical, electronic, and aerospace/defense markets. We expect that this expansion of our business into markets outside of semiconductor capital equipment will greatly enhance our pursuit of profitability in the future."
Thursday, 6 November 2008
InTEST
inTEST Corporation is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, which are used by semiconductor manufacturers to perform final testing of integrated circuits (ICs) and wafers. The Company's high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. Specific products include positioner and docking hardware products, temperature management systems and customized interface solutions. The Company has established strong relationships with semiconductor manufacturers globally, which it supports through a network of local offices. For more information visit www.intest.com.
Sunday, 2 November 2008
Siemens ISO Certifications
Siemens IT Solutions & Services announced today that its North American Global Production Centers have achieved a triple crown of ISO certification. Siemens has now officially achieved the following certifications:
-- ISO 9001:2000--Quality Management System
-- ISO/IEC 20000-1--IT Service Management in accordance with ITIL(R)
Processes
-- ISO/IEC 27001--Information Security Management
This triple certification is a rare achievement for any company and reflects a rigorous approach to these three important IT service management disciplines. It also represents a considerable trajectory of achievement for Siemens, which went from a single ISO 9001 certification at their Toronto Data Center to all three certifications at their Mason, Ohio, Toronto and Chicago Centers. In all, Siemens IT Solutions & Services has achieved this triple ISO certification at 65 locations in 17 countries around the world, including 11 out of their 14 Global Productions Centers.
"With this achievement, our North American operations have been integrated even more seamlessly into the Siemens global delivery network," said Michael W. Somers, Vice President, Operations for Siemens IT Solutions & Services. "Collaborating based on common standards in this network enables us to effectively leverage our global capabilities for the North American market."
"These are the three ISO Certifications we set out to achieve as a company and we've accomplished it," said Lisa Davis, the National Director of Quality and Continuous Improvement for Siemens, North America. "Some companies achieve this by dedicating a few people to document process but they are not really lived. I'm confident that we can say that we achieved these certifications because this is 'how we do business'," said Davis.
These Siemens' ISO certifications were achieved by an independent audit conducted by DQS GmbH. Siemens IT Solutions & Services spent a year preparing for the review. The preparation culminated in a 10-day site visit by DQS auditors. The audit focused on highly detailed analyses of the Siemens Global Production Centers in Chicago, Mason, and Toronto and covered everything from verifying the quality and use of industry standard processes for IT service delivery, resolution, control, release and relationship management, to data center security and risk areas such as insuring the use of non-combustible materials in the data centers.
"This is an important milestone for Siemens," said Somers. "The ISO benchmark is an important competitive differentiator in the IT marketplace. It assures our clients around the world that Siemens adheres to a very high set of quality standards. It is," he said, "a strategic and a tactical reality and that quality is reflected in everything we do."
"The triple ISO certification provides Siemens with a unique asset in the IT marketplace. From a customer perspective," said Davis, "this combination of external certifications allows us to integrate quality throughout our service offerings. For instance, we can use ITIL(R) Best Practices to achieve a certain level of quality and then bring in our Six Sigma Black Belts to advance to an even higher level of service."
The achievement of ISO certification is far from an end to the process, noted Davis. While an important achievement, it represents a corporate commitment to quality. ISO-accredited auditors will continue to monitor Siemens processes and procedures to ensure ongoing achievement of their standards. They will conduct at least annual "no-knock" audits of Siemens facilities.
The certifications provide a powerful road map for continuous improvement and assures clients that Siemens adheres to a global benchmark of quality. "That quality manifests itself in the processes and services that we offer our customers," noted Somers. "It provides our customers with a sense of security and requires that we have both internal and external procedures in place that ensure that we deliver what we promise."
-- ISO 9001:2000--Quality Management System
-- ISO/IEC 20000-1--IT Service Management in accordance with ITIL(R)
Processes
-- ISO/IEC 27001--Information Security Management
This triple certification is a rare achievement for any company and reflects a rigorous approach to these three important IT service management disciplines. It also represents a considerable trajectory of achievement for Siemens, which went from a single ISO 9001 certification at their Toronto Data Center to all three certifications at their Mason, Ohio, Toronto and Chicago Centers. In all, Siemens IT Solutions & Services has achieved this triple ISO certification at 65 locations in 17 countries around the world, including 11 out of their 14 Global Productions Centers.
"With this achievement, our North American operations have been integrated even more seamlessly into the Siemens global delivery network," said Michael W. Somers, Vice President, Operations for Siemens IT Solutions & Services. "Collaborating based on common standards in this network enables us to effectively leverage our global capabilities for the North American market."
"These are the three ISO Certifications we set out to achieve as a company and we've accomplished it," said Lisa Davis, the National Director of Quality and Continuous Improvement for Siemens, North America. "Some companies achieve this by dedicating a few people to document process but they are not really lived. I'm confident that we can say that we achieved these certifications because this is 'how we do business'," said Davis.
These Siemens' ISO certifications were achieved by an independent audit conducted by DQS GmbH. Siemens IT Solutions & Services spent a year preparing for the review. The preparation culminated in a 10-day site visit by DQS auditors. The audit focused on highly detailed analyses of the Siemens Global Production Centers in Chicago, Mason, and Toronto and covered everything from verifying the quality and use of industry standard processes for IT service delivery, resolution, control, release and relationship management, to data center security and risk areas such as insuring the use of non-combustible materials in the data centers.
"This is an important milestone for Siemens," said Somers. "The ISO benchmark is an important competitive differentiator in the IT marketplace. It assures our clients around the world that Siemens adheres to a very high set of quality standards. It is," he said, "a strategic and a tactical reality and that quality is reflected in everything we do."
"The triple ISO certification provides Siemens with a unique asset in the IT marketplace. From a customer perspective," said Davis, "this combination of external certifications allows us to integrate quality throughout our service offerings. For instance, we can use ITIL(R) Best Practices to achieve a certain level of quality and then bring in our Six Sigma Black Belts to advance to an even higher level of service."
The achievement of ISO certification is far from an end to the process, noted Davis. While an important achievement, it represents a corporate commitment to quality. ISO-accredited auditors will continue to monitor Siemens processes and procedures to ensure ongoing achievement of their standards. They will conduct at least annual "no-knock" audits of Siemens facilities.
The certifications provide a powerful road map for continuous improvement and assures clients that Siemens adheres to a global benchmark of quality. "That quality manifests itself in the processes and services that we offer our customers," noted Somers. "It provides our customers with a sense of security and requires that we have both internal and external procedures in place that ensure that we deliver what we promise."
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