Category: Science

Chemical engineer, Kara Branch, 34, travels the US to put more Black girls into STEM education and careers

Post author By Editor
Post date March 23, 2024
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Kara Branch, 34, is an award-winning chemical engineer and founder of Black Girls Do Engineer, a nonprofit dedicated to getting more Black and Brown girls into STEM (science, technology, engineering, mathematics) through the power of access, representation, hands-on education, mentorship and scholarships.

Chemical engineer, Kara Branch, 34, gives back to STEM education for Black girls with her program, Black Girls Do Engineer, BGDE.

PHOTO: BGDE Middle school members working in their science lab

Growing up in a single parent home with limited resources, Kara fought her way into high school honors programs, eventually earning a scholarship to attend HBCU Prairie View A&M University. An engineering major, Kara found that she was one of only a handful of women in her program, and in many of her classes, she was the only Black woman in the room. Throughout her subsequent engineering career, she has seen this disturbing trend continue, often being the only Black woman in important rooms she steps into.

The statistics back up her experience. According to the National Science Foundation, “as of 2023 only 35% of people in the STEM workforce are women, 5% are women of color, and a miniscule 2.9% are Black women.” (new.nsf.gov)

Kara believes this comes down to a lack of representation and mentorship, lack of access to quality STEM programs, and financial constraints for families in underserved communities.

In 2019, she launched the 501c3 nonprofit, Black Girls Do Engineer, an application-based educational program for girls in K through college to learn about and participate in STEM programs led by successful working professionals in these fields who look like them.

Black Girls Do Engineer program is vitally important

PHOTO: BGDE members at Greentown Labs Accelerator in Houston, Texas

PHOTO: BGDE members attending a STEM lecture

Demand for professionals across Science, Technology, Engineering and Mathematics is skyrocketing and it is expected to continue to soar, especially as A.I. expands. According to this 2023 CNBC article, “STEM jobs remain among the highest in-demand jobs overall with STEM-related jobs pay over $100,000, especially mathematics and computer positions.” The article also states that “STEM-related jobs are expected to increase by nearly 800,000 by 2031.”

Art & Life Culture Education Healthcare Lifestyle Perspectives Science

Learn how to overrule negative thoughts with impactful ‘flipology’ method from life coach

Post author By Editor
Post date March 21, 2024
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SUGAR LAND, Texas — Is the key to happiness simply the ability to think about the world differently? Life coach, author and speaker Rob Cross suggests, “It’s not about what happens to you but what happens in you.”

“We’re all just stuck in a rut because of what we make things mean in our minds,” Cross said in a recent interview. “Your thinking is where it all starts. Flipping your thinking changes your life.”

In his transformational book Flip Your Thinking: To Ignite Your World, Cross shares the refreshingly simple yet radical approach to life he calls “flipology” to challenge readers to question their perspectives on 36 widely held assumptions that prevent people from having the lives they deserve.

“Your mind is so powerful that it not only shapes your perception of things, but it also convinces you that it’s the truth,” Cross said. “That becomes your reality. You alone determine what you make things mean.”

Cross’ quirky and relatable “flips” — My choice to forgive you sets ME free, not you; Love stays when I let it leave and leaves when I make it stay; To be heard I need to talk less — will have readers wondering if they’ve been viewing life backward and upside-down all along.

“I’m going to invite you to FLIP IT!” Cross quipped. “On the other side, you’ll have more love, more peace, and more business than you can shake a stick at!”

From how people define professional success to how they approach personal relationships, readers will discover that their circumstances today are outward displays of their inward thoughts and beliefs. So if life isn’t going according to plan, a crash course in flipology might be in order.

“It’s time to assign new meanings,” Cross said. “Garner the power of your thoughts. Real and lasting change starts by flipping your thinking before engaging your feet! If not, you’ll simply keep running in circles.”

A powerful “how to do life” read, Flip Your Thinking is packed with everyday fresh perspectives divided into four key categories: Flip What You Make Things Mean; Flip Your Approach to Life; Flip Your Choices; and Flip Your Destiny.

“I challenge you to approach this book as if you really don’t know everything you think you know,” Cross added. “Be open and curious. Be willing to question how you’ve been looking at things and how you’ve defined things. If you don’t like what you see in life, stand up and change your view. Gaining a new perspective can literally save your life. Happy flipping!”

About the Author

Rob Cross considers himself a regular guy who sees things outside the boundaries of conventional teaching. In college, he fought and scratched like a cat in a bathtub during those monologues, distancing himself from what he believed were confining definitions and structures. Cross uses his knack for taking life’s everyday challenges and whittling them down to simple, achievable solutions to make a positive and transformative impact on each and every one of his readers. He is also the author of Flip Your Mornings: Kick-start Each Day on Purpose!

For more information, please visit www.RobFlips.com

Art & Life Culture Education Energy Environment Healthcare Lifestyle Perspectives Science Weather & Environment

‘Nocturnes’ review: A hypnotic documentary about moths unfolds to also reveal climate change concerns

Post author By Editor
Post date March 15, 2024
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Co-directors Anirban Dutta and Anupama Srinivasan craft an observational Indian nature doc that makes its case poetically and powerfully.

The nature documentary is inherently preservationist, but Anirban Dutta and Anupama Srinivasan’s “Nocturnes” offers environmental persuasions not through verbal arguments, or even an aesthetic appreciation.

Rather, its meditative, hyper-fixated approach to process — as seen through the eyes of seasoned lepidopterists — proves so hypnotic that any appeals or augments the movie makes are deeply felt before they’re intellectually understood. The pieces snap into place eventually (which is to say, the “why” of studying moths and their patterns), but the “how” is foregrounded so forcefully and poetically throughout that viewers will likely come to care about these creatures, and this field of study, well before they understand the very real and pressing reasons they should.

In northeastern India, bordering Bhutan, scientist Mansi and her indigenous assistant Bicki (belonging to the local Bugun tribe) partake in the nightly ritual of suspending a cloth sheet and illuminating it with bright lights in the middle of the forest. Slowly, but surely, hundreds of moths flock to this makeshift station, resting along the sheet’s checkered grid pattern so Mansi can observe, photograph, and eventually measure them.

Between her frequent voiceover and her instructions to Bicki, the audience learns a great deal about Mansi’s practice. We even meet an elderly man who appears to be her mentor, hinting at the depth of this scientific tradition, though there’s something intentionally stilted about her delivery. Mansi is not an actor, after all, but she’s given the role of one, both in her narrations, as well as in some of these interpersonal conversations. These appear to be staged for the camera, but contain thoughtful discussions and nuggets of truth, despite this docu-fictional appearance, and with the help of Nainita Desai’s heavy, wistful score, they become, in their own way, melodic.

However, more than via any of Mansi’s words, the movie’s arguments are made through images, silences and the sounds of nature. Fluttering wings and the echoes of trilling insects make up much of the serene soundscape, whether during close-ups of the moths — their texture, their patterns, their vibrating movements when they sit still are all intriguing to observe — or during wide shots of the scientists’ setup glowing in the darkened forest, drawing us toward it, not unlike the moths themselves.

These nighttime scenes are provided with ingenious contrast during intervening mornings, made up largely of establishing shots of green mountainsides and nearby communities, captured from afar. Cinematographer Satya Rai Nagpaul films these clarifying scenes through morning fog, giving them an ethereal quality as morning prayers ring out like harmonized insect hums, but the camera rarely approaches human beings or settlements.

Instead, it observes from a distance, as though it were performing an anthropological study too, and in the process, it creates intrinsic aesthetic connections between the lives of people and the lives of moths, hidden away from us, in ways we need to lean forward to observe and understand. Long before Mansi delivers a lecture on the specifics of her studies and their overlap with global climate change, the moths feel monumentally important, and deeply connected to us.

Dutta and Srinivasan have effectively reverse-engineered an aesthetic approach from the basic concept at the heart of these entomologic studies, with sheets painted in light as the central object of allure for the moths, and for the audience. Humans have been around a mere fraction of the time that moths have — despite their individual life spans of less than a week — and for an even smaller portion of our existence, light projected onto fabric at 24 frames per second has monopolized our collective attention. “Nocturnes” takes full advantage of this for an altruistic cause, resulting in a documentary that is immediately, powerfully, and above all cinematically convincing.

— Variety

Business Lifestyle Regulations & Security Science Technology

inTEST expands electronic test capabilities with acquisition of Alfamation S.p.A.

Post author By Michelle Dryden
Post date March 14, 2024
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In line with the Company’s 5-Point Strategy, Alfamation augments inTEST’s automated test solutions and extends its geographic market reach
Alfamation brings strong test equipment engineering and production capabilities for developing innovative test systems and solutions for electronics, micro-optics and optoelectronics manufacturing
Designs and manufactures test solutions used for automotive infotainment, telematics and central control systems, as well as biometric monitoring equipment, mobile communications and wafer-level optical components
Alfamation’s annual revenue of approximately $25 million increases inTEST’s scale while providing deeper penetration into key target markets
Conference call to discuss acquisition scheduled for Wednesday, March 13at 8:30 a.m. ET

MT. LAUREL, N.J. — (BUSINESS WIRE) — inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor (“semi”), announced on Tuesday that it has acquired Alfamation S.p.A. (“Alfamation”), a leading global provider of state-of-the-art test and measurement solutions for the automotive, life sciences and specialty consumer electronics markets. Terms of the acquisition are being filed separately with the Securities and Exchange Commission. Alfamation will become a part of the Electronic Test division within inTEST.

Nick Grant, President and CEO, commented, “We identified the opportunity with Alfamation through our disciplined pursuit for acquisitions that will enhance our innovative test and process technology solutions and further strengthen our position in key target markets. We believe this acquisition is an excellent fit for our Electronic Test division and advances all dimensions of our 5-Point Strategy. Alfamation will deepen our presence in automotive/EV and life science markets, expand our exposure in consumer electronics, extend our geographic reach with a sizable footprint in Europe, and widen our portfolio of products and solutions. Additionally, Alfamation brings exceptional engineering talent and a strong management team that culturally aligns with inTEST’s mission to provide innovative, engineered solutions that address high-value challenges of our customers.”

Alfamation was established in 1991. Headquartered in Milan, Italy, the business also has a small sales and service subsidiary based in Suzhou City, China. Alfamation designs, builds, and supports a wide range of products, from individual functional test modules to fully automated systems for production quality control and product development. Offerings include Alfamation’s Hyperion™, a functional test platform that addresses a broad range of test requirements from wireless communication telematics through automotive infotainment and computer control units. Alfamation’s range of automated test solutions also includes wafer-level optical component testers (WALOT™) and fully automated display and instrument cluster testers with integrated robotics for haptic and touch test functionality (Pixelshooter™).

Alfamation is well known in the automotive test and measurement industry for Flexmedia XM®, its family of specialty test tools. This is a modular, robust and cost-effective solution for building flexible, scalable, functional testers for applications that include audio and video generators and analyzers, automotive ethernet and communication interfaces, and analog measurements.

At current exchange rates, Alfamation’s annual revenue in 2023 was approximately $25 million and had backlog at December 31, 2023 of approximately $15 million. The Company expects the acquisition to be accretive in 2025. Alfamation has generated healthy, double-digit, annual revenue growth over the last few years.

Updating Full Year 2024 Guidance

As a result of the acquisition, revenue for full year 2024 is expected to be in the range of $145 million to $155 million. The acquisition is expected to be dilutive to earnings per diluted share in 2024, but accretive to non-GAAP adjusted earnings per diluted share⁽¹⁾ due to the anticipated impacts associated with the amortization of intangible assets.

Given the timing of the acquisition, the impact to first quarter 2024 results from operations are expected to be nominal.

Conference Call and Webcast

The Company will host a conference call and webcast tomorrow, March 13, 2024, at 8:30 a.m. ET to discuss the acquisition. A question-and-answer session will follow. To listen to the live call, dial (201) 689-8263. In addition, the webcast and slide presentation may be found at www.intest.com/investor-relations.

A telephonic replay will be available from 11:30 a.m. ET on the day of the call through Wednesday, March 20, 2024. To listen to the archived call, dial (412) 317-6671 and enter replay pin number 13745130. The webcast replay can be accessed via the investor relations section of www.intest.com, where a transcript will also be posted once available.

About inTEST Corporation

inTEST Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including automotive/EV, defense/aerospace, industrial, life sciences, and security, as well as both the front-end and back-end of the semiconductor manufacturing industry. Backed by decades of engineering expertise and a culture of operational excellence, inTEST solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. inTEST’s strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, and market expansion. For more information, visit www.intest.com.

Forward-Looking Non-GAAP Financial Measures

This release includes certain forward-looking non-GAAP financial measures, including adjusted earnings per diluted share. Forward-looking adjusted earnings per diluted share is derived by dividing estimated adjusted net earnings by estimated diluted weighted average shares outstanding. We have provided these forward-looking non-GAAP financial measures because management uses such measures 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. Forward-looking non-GAAP financial measures have limitations as analytical tools and should not be viewed in isolation or as a substitute for GAAP measures of earnings. The Company has not quantified forward-looking adjusted earnings per diluted share or provided a reconciliation to comparable GAAP measures because the Company cannot do so without unreasonable efforts.

Key Performance Indicators

Management uses backlog as a key performance metric to analyze and measure the Company’s financial performance and results of operations. Management uses backlog as a measure of current and future business and financial performance, and it may not be comparable with measures provided by other companies. Backlog is calculated on the basis of firm purchase orders we receive for which revenue has not yet been recognized. Management believes tracking backlog is useful as it often times is a leading indicator of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer.

Given that backlog is an operational measure and that the Company’s methodology for calculating backlog does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for backlog is not required or provided.

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 the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “believe,” “expects,” “further,” “expand,” “extend,” “widen,” “will,” “plan,” “potential,” “anticipates,” “target,” 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. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its 5-Point Strategy, realize the potential benefits of acquisitions and successfully integrate any acquired operations, including the operations of Alfamation, grow the Company’s presence in its key target and international markets, manage supply chain challenges, convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. 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, except as required by law.

¹ Estimated adjusted earnings per diluted share is a forward-looking non-GAAP financial measure. Further information can be found under “Forward-Looking Non-GAAP Financial Measures.”

Contacts

inTEST Corporation
Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999

Investors:
Deborah K. Pawlowski

Kei Advisors LLC

dpawlowski@keiadvisors.com
Tel: (716) 843-3908

Tags Business, New Jersey

Business Culture Foodies/Tastylicious Healthcare Lifestyle Science

New tea store, Bardo Tea, opens in Portland’s Concordia neighborhood

Post author By Editor
Post date March 12, 2024
No Comments on New tea store, Bardo Tea, opens in Portland’s Concordia neighborhood

Ravi Kroesen and Veronika Vogler have opened Bardo Tea’s first retail location this month.

PORTLAND, Ore. — Bardo Tea today announced it has opened its first retail location in Portland’s Concordia neighborhood.

Bardo Tea’s brick-and-mortar store offers a full line of high-quality single-origin teas and premium blends for retail and wholesale purchase, curated teaware, small batch-produced incense from Asia, and lifestyle products for the fashion- and health-conscious.

Going beyond the classic boutique model, Bardo Tea’s structure boasts three segmented spaces—all designed for a distinct and superb tasting experience that accentuates the nuance and complexity of each tea.

Kroesen explains, “The purpose of Bardo Tea is to change the mold. From the moment you step into the space, you’ll be welcomed by a converted carriage house split into three rooms—each providing a unique tea drinking experience with teas served in high-end teaware to honor each sip. No milk, sweeteners, or additives. Just tea and water.”

Kroesen—who worked as Smith Tea’s Head Teamaker for five years—has spent over two decades in the tea industry, traveling throughout the world to learn from and connect with tea growers, processers and experts.

Veronika Vogler, long-time mindfulness facilitator and co-founder, remarks, “At Bardo, we encourage you to take time and be present with the tea you are drinking,” she shares.

“As the leaves unfold, you go on a journey. You sit with the clay pot, the boiling water, the tea leaves, and you recognize that it all communicates. The flavor of tea deepens with every pour, and over time it unlocks that language.”

Vogler has integrated tea with meditation for the last decade, focusing on tasting teas mindfully over the course of multiple steeps.

About Bardo Tea:

Bardo Tea is a Portland-based retail and wholesale tea supplier. Offering a wide variety of high-quality teas and teaware, Bardo weaves the story that connects the soil to the farmer, the tea, and the cup. Bardo Tea commits to working toward equal representation by supporting women’s roles in tea beyond the picking of the leaf by actively building relationships with female tea farmers and supporting them as tea growers.

Learn more about Bardo Tea

Business Economics Lifestyle Science Technology

inTEST to restate 3rd quarter and first 9 months 2023 financial statements

Post author By Michelle Dryden
Post date March 12, 2024
No Comments on inTEST to restate 3rd quarter and first 9 months 2023 financial statements

The restatement pertains to deferral of revenue related to purchases on behalf of certain customers associated with “last time buys” of discontinued material/components for potential future orders.

Preliminary indications are that the third quarter 2023 restatement is expected to result in a decrease in revenue of approximately $1.7 million and an increase in deferred revenue on the balance sheet by the same amount. After also deferring associated costs and the tax effect, net income is expected to be approximately $700,000 lower for the third quarter 2023. After giving effect to this change, earnings per diluted share for the third quarter 2023 as previously reported is expected to be reduced from $0.24 to $0.19.

The deferral of revenue is also expected to have a small impact on previously announced preliminary fourth quarter results. Fourth quarter 2023 revenue is now expected to be approximately $27.9 million with net earnings of $1.5 million, or $0.12 per diluted share.

The Company intends to amend and file its third quarter 2023 10-Q/A as soon as practical. Investors should no longer rely upon the Company’s previously released financial statements for the third quarter and nine months ended September 30, 2023. Similarly, prior related press releases, earnings releases, and investor communications describing the Company’s financial statements for those periods and preliminary results reported for the fourth quarter ended December 31, 2023, should no longer be relied upon. The Company also intends to file its 2023 10-K as soon as practical and expects to host a conference call following the filing and release of fourth quarter 2023 financial results. Based on the matters underlying the restatement, the Company expects to report a material weakness in its internal control over financial reporting.

About inTEST Corporation

Preliminary, Unaudited Financial Disclosures

The data presented above is preliminary and unaudited, based upon our estimates, and subject to further internal review by management and compilation of actual results. Our closing procedures for the year and quarter ended December 31, 2023, are not yet complete. Our management’s estimates are based upon preliminary information currently available from our business segments and extrapolation from that information. While we expect that our results will be consistent with these preliminary and unaudited estimates, our actual results may differ materially from these preliminary estimates.

This preliminary financial information is not a comprehensive statement of our financial results for this period, and our actual results may differ materially from these estimates due to the completion of our financial closing procedures, final adjustments, and other developments that may arise between now and the time the closing procedures for the fiscal year and quarter are completed.

All the data presented above has been prepared by and is the responsibility of our management. Our independent registered public accounting firm has not completed its audit procedures with respect to our accompanying preliminary financial data. Accordingly, our independent registered public accounting firm does not express an opinion or any other form of assurance with respect to this data.

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 the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “expects,” “intends,” “may,” “plan,” “potential,” “preliminary,” “estimate,” “extrapolate,” 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. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its 5-Point Strategy, achieve high single-digit growth in 2023, realize the potential benefits of acquisitions and successfully integrate any acquired operations, grow the Company’s presence in its key target and international markets, manage supply chain challenges, convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. 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, except as required by law.

Contacts

inTEST Corporation
Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999

Investors:
Deborah K. Pawlowski

Kei Advisors LLC

dpawlowski@keiadvisors.com
Tel: (716) 843-3908

Tags Business, New Jersey

Digital - AI & Apps Lifestyle Regulations & Security Science Technology

More than 100 scientists sign agreement to prevent their AI-aided research that designs new proteins from enhancing the development of bioweapons

— An agreement by more than 90 said, however, that artificial intelligence’s benefit to the field of biology would exceed any potential harm.

Cade Metz / New York Times:

Dario Amodei, chief executive of the high-profile A.I. start-up Anthropic, told Congress last year that new A.I. technology could soon help unskilled but malevolent people create large-scale biological attacks, such as the release of viruses or toxic substances that cause widespread disease and death.

— Researchers are trying to tamp down fears of A.I.-created bioweapons. Credit: Kenny Holston/The New York Times

Senators from both parties were alarmed, while A.I. researchers in industry and academia debated how serious the threat might be.

Now, over 90 biologists and other scientists who specialize in A.I. technologies used to design new proteins — the microscopic mechanisms that drive all creations in biology — have signed an agreement that seeks to ensure that their A.I.-aided research will move forward without exposing the world to serious harm.

The biologists, who include the Nobel laureate Frances Arnold and represent labs in the United States and other countries, also argued that the latest technologies would have far more benefits than negatives, including new vaccines and medicines.

“As scientists engaged in this work, we believe the benefits of current A.I. technologies for protein design far outweigh the potential for harm, and we would like to ensure our research remains beneficial for all going forward,” the agreement reads.

The agreement does not seek to suppress the development or distribution of A.I. technologies. Instead, the biologists aim to regulate the use of equipment needed to manufacture new genetic material.

This DNA manufacturing equipment is ultimately what allows for the development of bioweapons, said David Baker, the director of the Institute for Protein Design at the University of Washington, who helped shepherd the agreement.

“Protein design is just the first step in making synthetic proteins,” he said in an interview. “You then have to actually synthesize DNA and move the design from the computer into the real world — and that is the appropriate place to regulate.”

— David Baker of the University of Washington said regulation should focus on the physical tools that would be needed to create a bioweapon. Credit: Evan McGlinn for The New York Times

The agreement is one of many efforts to weigh the risks of A.I. against the possible benefits. As some experts warn that A.I. technologies can help spread disinformation, replace jobs at an unusual rate and perhaps even destroy humanity, tech companies, academic labs, regulators and lawmakers are struggling to understand these risks and find ways of addressing them.

Dr. Amodei’s company, Anthropic, builds large language models, or L.L.M.s, the new kind of technology that drives online chatbots. When he testified before Congress, he argued that the technology could soon help attackers build new bioweapons.

But he acknowledged that this was not possible today. Anthropic had recently conducted a detailed study showing that if someone were trying to acquire or design biological weapons, L.L.M.s were marginally more useful than an ordinary internet search engine.

Dr. Amodei and others worry that as companies improve L.L.M.s and combine them with other technologies, a serious threat will arise. He told Congress that this was only two to three years away.

— Techmeme

Business Digital - AI & Apps Economics Lifestyle Regulations & Security Science Technology

inTEST delays fourth quarter and full year 2023 earnings release and investor conference call; provides preliminary fourth quarter results and 2024 guidance

The Company requires additional time to complete the year-end audit and review process. The Company expects to report its results coincident with, or prior to, the filing of its Annual Report on Form 10-K for the year ended Dec. 31, 2023.

Preliminary, Unaudited Fourth Quarter 2023 Results

Fourth quarter 2023 revenue was approximately $28.4 million with net earnings of approximately $1.7 million, or $0.14 per diluted share. Cash generated from operations in the fourth quarter was $4.7 million. Orders in the fourth quarter were $27.5 million.

First Quarter and Full Year 2024 Guidance

Revenue for the first quarter of 2024 is expected to be in the range of $28 million to $30 million with gross margin of approximately 46%. First quarter 2024 earnings per diluted share is expected to be in the range of $0.08 to $0.13.

Revenue for full year 2024 is expected to be in the range of $125 million to $130 million.

The foregoing guidance is based on management’s current views with respect to operating and market conditions and customers’ forecasts. It also assumes macroeconomic conditions remain unchanged through the end of the year and does not consider any extraordinary non-operating expenses that may occur from time to time. Actual results may differ materially from what is provided here today because of, among other things, the factors described under “Forward-Looking Statements” below.

About inTEST Corporation

Key Performance Indicators

Management uses orders as a key performance metric to analyze and measure the Company’s financial performance and results of operations. Management uses orders as a measure of current and future business and financial performance, and these may not be comparable with measures provided by other companies. Orders represent written communications received from customers requesting the Company to provide products and/or services. Management believes tracking orders is useful as it often is a leading indicator of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer.

Given that orders is an operational measure and that the Company’s methodology for calculating orders does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for it is not required or provided.

Preliminary, Unaudited Financial Disclosures

The data presented above is preliminary and unaudited, based upon our estimates, and subject to further internal review by management and compilation of actual results. Our closing procedures for the year and quarter ended December 31, 2023 are not yet complete. Our management’s estimates are based upon preliminary information currently available from our business segments and extrapolation from that information. While we expect that our results will be consistent with these preliminary and unaudited estimates, our actual results may differ materially from these preliminary estimates.

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 the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “assume,” “believe,” “estimate,’ “expects,” “may,” “will,” “plan,” “potential,” “forecasts,” 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. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its 5-Point Strategy, achieve high single-digit growth in 2023, realize the potential benefits of acquisitions and successfully integrate any acquired operations, grow the Company’s presence in its key target and international markets, manage supply chain challenges, convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. 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, except as required by law.

Contacts

inTEST Corporation
Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999

Investors:
Deborah K. Pawlowski

Kei Advisors LLC

dpawlowski@keiadvisors.com
Tel: (716) 843-3908

Tags Business, New Jersey

Business Digital - AI & Apps Energy Lifestyle News Now! Science Technology

With booming AI growth, data centers struggle to meet self-imposed sustainability goals due to electricity increases, which strain power grids

— Artificial intelligence’s booming growth is radically reshaping an already red-hot data center market, raising questions about whether these sites can be operated sustainably

Patrick Sisson / New York Times:

West Texas, from the oil rigs of the Permian Basin to the wind turbines twirling above the High Plains, has long been a magnet for companies seeking fortunes in energy.

The carbon footprint from the construction of data centers and the racks of expensive computer equipment is substantial, and the sites’ power needs have grown considerably. Credit: Jim Wilson/The New York Times

Now, those arid ranch lands are offering a new moneymaking opportunity: data centers.

Lancium, an energy and data center management firm setting up shop in Fort Stockton and Abilene, is one of many companies around the country betting that building data centers close to generating sites will allow them to tap into underused clean power.

“It’s a land grab,” said Lancium’s president, Ali Fenn.

In the past, companies built data centers close to internet users, to better meet consumer requests, like streaming a show on Netflix or playing a video game hosted in the cloud. But the growth of artificial intelligence requires huge data centers to train the evolving large-language models, making proximity to users less necessary.

But as more of these sites start to pop up across the United States, there are new questions on whether they can meet the demand while still operating sustainably. The carbon footprint from the construction of the centers and the racks of expensive computer equipment is substantial in itself, and their power needs have grown considerably.

Just a decade ago, data centers drew 10 megawatts of power, but 100 megawatts is common today. The Uptime Institute, an industry advisory group, has identified 10 supersize cloud computing campuses across North America with an average size of 621 megawatts.

This growth in electricity demand comes as manufacturing in the United States is the highest in the past half-century, and the power grid is becoming increasingly strained.

The Uptime Institute predicted in a recent report that the sector’s myriad net-zero goals, which are self-imposed benchmarks, would become much harder to meet in the face of this demand and that backtracking could become common.

“This is not just about data centers,” said Mark Dyson, a managing director at RMI, a nonprofit organization focused on sustainability. “Data centers are a practice round for a much bigger wave of load growth that we are already seeing and are going to continue seeing in this country coming from electrification of industry, vehicles and buildings.”

The data center industry has embraced more sustainable solutions in recent years, becoming a significant investor in renewable power at the corporate level. Sites that leased wind and solar capacity jumped 50 percent year over year as of early 2023, to more than 40 gigawatts, capacity that continues to grow. Still, demand outpaces those investments. And the need for more processing power is backing up the interconnection queue and creating stopgap solutions.

Equinix’s data center in San Jose, Calif. The company operates 260 data centers across the globe. Credit: Jim Wilson/The New York Times

Power-hungry data centers in full force further complicate the balance. Data centers in the construction pipeline would, when complete, use as much power annually as the San Francisco metro area, according to a report released on Wednesday by the real estate services company JLL. Most sites coming online this year are already leased; in popular markets, significant space will not open up for at least two years.

“You have to get as many gigawatts live as you possibly can, as fast as you can,” Ms. Fenn of Lancium said. “People are going to cobble that together in whatever way they can.”

That has quickly expanded development beyond the established first- and second-tier markets, such as Northern Virginia, Dallas and Silicon Valley.

Competition is growing in parts of the country offering cheap land and available power. Amazon, for instance, announced last month that it was planning a $10 billion project in Mississippi, the state’s largest economic development project, which includes data centers and solar generating sites.

“Anybody who has any significant source of power has now become a new data center market,” said Jim Kerrigan, managing principal of North American Data Centers, an industry consultancy.

A.I. is only a small percentage of the global data center footprint. The Uptime Institute predicts A.I. will skyrocket to 10 percent of the sector’s global power use by 2025, from 2 percent today.

“They have been building at a breakneck pace with so many other kinds of drivers for demand,” said Andy Lawrence, executive director of research at the institute. “A.I.’s kind of the froth on top.”

Last year, construction of data centers was up 25 percent, according to the real estate firm CBRE. And Nvidia, which supplies most of the high-tech chips powering this technology, last week reported record profit in data center sales, with 2023 revenue hitting $47.5 billion, a 217 percent jump from the year before.

The nation’s energy grids cannot handle that kind of demand, said Christopher Wellise, vice president of sustainability at Equinix, a global data center operator. “Technology is moving faster than our infrastructure has evolved,” he said.

On top of that, the transition toward electrification and renewable power has created new challenges. Orders for the large transformers needed to deliver power have a three-year backlog, and even the diesel generators that provide backup power can take nearly two years to arrive.

Developers are focusing on squeezing additional efficiency out of their operations. Meta has teamed up with a Texas battery storage provider to better use the state’s wind and solar resources. Google signed a deal with Fervo, a company developing utility-scale geothermal resources.

— Techmeme

Business Digital - AI & Apps Healthcare Lifestyle Science

Mittul Mehta, head of Tevogen’s Artificial Intelligence Initiative, Tevogen.ai, emphasizes importance of proactive talent development for biopharmaceutical sector to allow rapid adoption of AI

WARREN, N.J. — (BUSINESS WIRE) — Tevogen Bio Holdings – Tevogen (Nasdaq: TVGN) Chief Information Officer and Head of company’s Artificial Intelligence Initiative, Tevogen.ai, Mittul Mehta, has taken strides to emphasize the importance of proactive talent development for biopharmaceutical sector to allow rapid adoption of artificial intelligence (AI).

In his recent seminar at the Yale School of Public Health, “Artificial Intelligence Opportunities in Healthcare,” he underscored the potential of AI in medical innovation and the criticality of talent development.

“AI represents a unique opportunity to help reduce healthcare costs through many possibilities, including speeding up drug development and aiding in clinical trial design,” said Mr. Mehta. “Experimentation in AI is no longer an option, but a requirement and it is vital that we reach out to academic institutions to develop a talent pipeline for this emerging field.”

Dr. Shuangge (Steven) Ma, Chair of Biostatistics at Yale School of Public Health, said, “Tevogen’s prioritization of developing current students demonstrates their commitment to providing significant pathways for graduates in their future employment endeavors. Companies that emphasize talent development clearly and strategically focus on their talent acquisition efforts.”

Tevogen recently announced the establishment of Tevogen.ai to bring together a dedicated team of research scientists, physicians, data scientists, and AI engineers committed to the ethical development and commercialization of AI-driven and AI-enhanced tools designed to streamline processes and improve health outcomes. On December 19th, 2023, Tevogen Bio announced the filing of two provisional patent applications with the U.S. Patent and Trademark Office, (1) AI algorithms designed to predict immunologically active HLA+ peptide complexes, and (2) AI algorithms aimed at predicting T cell receptor (TCR) engagement with specific HLA+ peptide complexes.

About Tevogen Bio

Tevogen Bio is a clinical-stage specialty immunotherapy company harnessing one of nature’s most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen Leadership believes that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science and innovative business models. Tevogen has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted patents and twelve pending patents, two of which are related to artificial intelligence.

Tevogen Bio is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen Bio’s leadership believes that accessible personalized therapeutics are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation.

Forward-Looking Statements

This press release contains certain statements that are not historical facts and are forward-looking statements within the meaning of the federal securities laws, including statements with respect to the product candidates, products, markets, and expected future performance and market opportunities of Tevogen Bio. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “think,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “seeks,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the effect of the recent business combination with Semper Paratus Acquisition Corporation (the “Business Combination”) on Tevogen’s business relationships, operating results, and business generally; (ii) the outcome of any legal proceedings that may be instituted against Tevogen related to the Business Combination; (iii) changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; (iv) changes in domestic and global general economic conditions; (v) the risk that Tevogen may not be able to execute its growth strategies or may experience difficulties in managing its growth and expanding operations; (vi) the risk that Tevogen may not be able to develop and maintain effective internal controls; (vii) costs related to the Business Combination and the failure to realize anticipated benefits of the Business Combination; (viii) the failure to recognize the anticipated benefits of the Business Combination and to achieve Tevogen’s commercialization and development plans, and identify and realize additional opportunities, which may be affected by, among other things, competition, the ability of Tevogen to grow and manage growth economically and hire and retain key employees; (ix) the risk that Tevogen may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; (x) the ability to develop, license or acquire new therapeutics; (xi) that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (xii) the risk of product liability or regulatory lawsuits or proceedings relating to Tevogen’s business; (xiii) uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, and approval and commercial development; (xiv) risks associated with intellectual property protection; (xv) Tevogen’s limited operating history; and (xvi) those factors discussed in Tevogen’s filings with the SEC and that are contained in the Proxy Statement/Prospectus relating to the Business Combination.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Proxy Statement/Prospectus and other documents to be filed by Tevogen Bio from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while Tevogen Bio may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. These forward-looking statements should not be relied upon as representing Tevogen Bio’s assessments as of any date subsequent to the date of this press release.

Contacts

Tevogen Communications

T: 1 877 TEVOGEN, Ext 701

communications@Tevogen.com

Tags Business, New Jersey