UNITED SATES
SECURITIES AND EXCHANGE COMMISSIONS
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
January 6, 2011
Date of Report (Date of earliest event reported)
inTEST Corporation
(Exact Name of Registrant as Specified in its Charter)
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Delaware |
0-22529 |
22-2370659 |
7 Esterbrook Lane, Cherry Hill, New Jersey 08003
(Address of Principal Executive Offices, including zip code)
(856) 505-8800
(Registrant's Telephone Number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Item 8.01. Other Events.
On January 6, 2011, inTEST Corporation (the "Company") issued a press release announcing that it will complete the relocation of its corporate headquarters, including the operations of its Mechanical Products segment, from Cherry Hill, NJ to Mount Laurel, NJ on January 14, 2011. In addition, Temptronic Corporation, a part of its Thermal Products segment, will relocate from Sharon, MA to Mansfield, MA which is expected to occur on March 1, 2011. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
A list of the Exhibits which are required by Item 601 of Regulation S-K and filed with this Report is set forth in the Exhibit Index immediately following the signature page, which Exhibit Index is incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
inTEST CORPORATION
By: /s/ Hugh T. Regan, Jr.
Hugh T. Regan, Jr.
Secretary, Treasurer and Chief Financial Officer
Date: January 7, 2011
Exhibit Index
99.1 News Release dated January 6, 2011.
EXHIBIT 99.1
[inTEST News Release Letterhead]
FOR IMMEDIATE RELEASE
inTEST to Relocate Corporate Headquarters and Temptronic Corporation to State-of-the-Art Facilities
Lower Operating Costs Will Save Approximately $0.05 in Annual Earnings Per Share
CHERRY HILL, NJ, January 6, 2011 - inTEST Corporation (Nasdaq: INTT), an independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced that it will complete the relocation of its corporate headquarters, including the operations of its Mechanical Products segment, from Cherry Hill, New Jersey to Mount Laurel, New Jersey, on January 14, 2011. In addition, inTEST noted that Temptronic Corporation, a part of its Thermal Products segment, will relocate from Sharon, MA to Mansfield, MA. It is expected that Temptronic Corporation will take occupancy of its new facility on March 1, 2011.
Reduced Facilities Costs Will Save Approximately $0.05 in Annual Earnings Per Share
Robert E. Matthiessen, President and Chief Executive Officer of inTEST, commented, "With the efficiencies gained by the new facilities, we expect to benefit from a considerable reduction in our operating costs. Our new Mount Laurel, NJ headquarters will bring savings of approximately $250,000 - $300,000 per year in operating costs, as compared to costs of our current facility. In addition, we expect further savings of approximately $150,000 - $200,000 annually in operating costs with the Mansfield, MA Temptronic Corporation relocation. We expect that the combined savings will result in an improvement of approximately $0.05 in annual earnings per share."
Mr. Matthiessen added, "The inTEST headquarters and the Temptronic offices to which we will be moving are new facilities with state of the art technologies, both of which have been designed to our specifications. The layout of offices, conference rooms, cubicles, and public space is designed to create an optimal work environment for the Company's operations. The open environment will encourage teamwork and collaboration, boost productivity, and help our employees serve our customers more effectively."
New Corporate Address and Fax Number Effective January 14, 2011
Effective January 14, 2011, the new corporate headquarters address will be 804 East Gate Drive, Suite 200, Mount Laurel, New Jersey 08054. With the exception of the Company's main fax number, all phone numbers, emails and the corporate website address will not change. The new main corporate fax number will be (856) 505-8801.
About inTEST Corporation
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.
CONTACTS:
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Hugh T. Regan, Jr. |
Laura Guerrant-Oiye |
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Treasurer and Chief Financial Officer |
Guerrant Associates |
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inTEST Corporation |
Lguerrant@guerrantir.com |
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Tel: 856-505-8999 |
Tel: 808-882-1467 |
Forward-Looking Statements:
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. 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, changes in business conditions and the economy, generally; changes in the demand for semiconductors, generally; changes in the rates of, and timing of, capital expenditures by semiconductor manufacturers; progress of product development programs; increases in raw material and fabrication costs associated with our products; implementation of additional restructuring initiatives and other risk factors set forth from time to time in our SEC filing
s, including, but not limited to, our periodic reports on Form 10-K and Form 10-Q. The Company undertakes 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.