InTest Corp. (INTT), a supplier of innovative test and process technology solutions, Wednesday unveiled its VISION 2030 strategy, expecting revenue of $235 million to $285 million by 2030.
The revenue goal includes an assumption of 7% to 9% organic growth, $50 million to $60 million in acquired revenue, plus $10 million to $20 million of additional growth from these future acquisitions.
At the mid-point of the revenue goal, the company expects to deliver division operating margins of 20% and net income margin of 10%.
The company will present VISION 2030, its strategy for driving growth and profitability over the next five years, at its previously announced investor Strategy Briefing.
At the briefing, Nick Grant, President and CEO, and Duncan Gilmour, Chief Financial Officer, will review the company's strategic progress and accomplishments since the initiation of its 5-Point Strategy in 2021. They will also discuss the goals and priorities of VISION 2030.
Grant said, "We have expanded our customer base, broadened our geographic reach, drove innovation and new product development, increased our service revenue and, importantly, built the team that will take us to the next level. We have delivered record revenue in each of the last three years. We have established a solid foundation from which to drive to the next level by elevating our focus on operational excellence and delivering strong financial performance."
Prior to the Strategy Briefing, the InTest executive team will be ringing the opening bell at the New York Stock Exchange.
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