Thanks Laura. Welcome everyone to our 2014 Third Quarter conference call. While Hugh will review the financial results in detail, I will review some of the highlights and will then discuss our markets and what we're seeing in our customer base.
Results for the Third Quarter were within guidance, and the decline reflects the industry's normal seasonal patterns. Q3 bookings were $10.6 million compared with second quarter 2014 bookings of $12.6 million and net revenues for the third quarter were $10.8 million compared with second quarter net revenues of $12.3 million. A steady growth in the electronics industry is boosting semiconductor manufacturing, while innovations in semiconductor devices and the growing complexity of silicon chips is driving demand for the ATE industry. For inTEST we continue to see a good year for 2014; in fact, better than 2013. On a year-to-date basis bookings and revenue are up 15% and 6% respectively, compared with the same period last year, fueled by the momentum and strength of our business as well as the demand and adoption of our new products from a wide range of customers.
Our thermal non-semiconductor related business again increased in both absolute dollars and as a percentage of revenues. For the third quarter 38% of bookings and 34% of net revenues were derived from non semi test, an increase of 11% and 27%, respectively over Q2 2014. Recall that at the end of the second quarter last year we revised the non-semi related historical bookings and revenue figures to include service, which had previously not been included.
inTEST Corporation has demonstrated that during periods of cyclically declining revenues, the Company is structured such that we can remain profitable, and for the third quarter we reported our 20th consecutive quarter of profitability, a metric we are very proud of. Very few large cap companies in this sector can make this claim, let alone our micro cap peers. Five years of profitability is not only gratifying, it's a testament to the diligence and hard work of our entire organization. In addition, we reported a positive book-to-bill ratio for the quarter and have a solid balance sheet with no debt. Let me turn to the segments in which we operate, starting with Thermal Products.
Our Thermal Products segment is our largest, most profitable and diversified division and is providing inTEST with significant growth opportunities in the future. Through the strategic diversification of our Thermal Products segment, we are creating new opportunities in industrial testing and broadening our end market penetration. Our solutions are highly engineered and application-specific and often create or operate in extreme temperature environments. These thermal test systems are highly customizable and can be readily adapted not only to our traditional semiconductor market but also to electronics test applications in various growth markets including automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications.
Thermal segment bookings for the third quarter were $6.5 million, compared with $6.1 for the second quarter. Thermal segment revenues for the third quarter were $5.9 million, compared with second quarter revenues of $6.1 million and although revenues were marginally down, our thermal segment exceeded expectations for the quarter.
Our Q3 Sigma Systems business more than doubled. Six thermal engines were booked for a major defense contractor, marking the first phase of expansion to other factory locations of an automated production line. Ten large thermal platforms were ordered by another defense contractor for use with production tests of radar modules. A manufacturer of satellite communications equipment continues to expand, ordering six thermal platforms. And four chambers were ordered from an industrial censor manufacturer.
Temptronic GmbH reported record revenue and profit for the month of September and also booked orders for two air chillers from a new OEM integrator building production test systems for a major automotive supplier. Ten units per year are expected.
Turning to the mechanical product segment, third quarter mechanical product bookings were $2.3 million compared with second quarter bookings of $4.2 million. Mechanical sales were $3.1 million compared with $4.1 million in the second quarter.
There were push outs of roughly $1.0 million involving various combinations of docking and interface that both Mechanical and Electrical that will ship in Q4. This was not a push out in the normal sense, but rather a hold by a customer until they did a thorough checkout of the first installation. That was successful so now they need those parts quickly.
IntelliDock, our highly automatic docking system, has now been evaluated and accepted by a major IDM who has chosen the system as the docking standard for a new roadmap test system. The first delivery occurred at the end of Q3, with the remainder of the order to be delivered during Q4. The inTEST 4 cam version of "Ultra Probe" PIB direct docking hardware for probing was proven and accepted by a major IDM. They purchased multiple sets.
At SemiCon West in July, we exhibited our newest interface and docking products which were very well received; and we were a sponsor of the TestVision 2020 Workshop.
Now let me turn it to our electrical segment. Bookings for the third quarter were $1.8 million compared with $2.4 million in the second quarter. Q3 electrical revenues were $1.8 million, compared with $2.1 million in the second quarter. Our inFLEX probe tower product line had been evaluated and accepted by several major customer during Q2 and deliveries began in Q3. inTEST Silicon Valley has shipped a number of wafer sort interfaces with integrated purge which allow the customer to test at extreme temperatures for extended periods of time without having frost form on the wafer. And, we received the first order for a new high pin count mixed signal wafer probe interface from a large IDM. This customer acceptance was completed and the first delivery occurred near the end of the third quarter.
So before I turn the call over to Hugh let me give you some perspective on the markets we serve and why we are confident for a stronger 2014. We are well on our way to the end of the year, and have accomplished a great deal and we are poised to deliver a full year of strong earnings growth. While guidance for the fourth quarter is reflective of the normal seasonal patterns, our results for the year to date have been stronger than in the prior year and our quote activity and customer adoption of our new products is solid.
We are growing inTEST on the base of our semiconductor business. We've increased our footprint in the thermal test solution area and serve a number of vertical markets outside of semi, which we have significant exposure to. Technological forces that are driving opportunity for inTEST include The Internet of Things; pervasive Connectivity, with faster, lighter and smarter mobile devices fundamentally changing the way we all live and work; improved Efficiency that optimizes products' environmental impact; and Reliability to enhance confidence in new products while reducing the cost of ownership.
Our technology-driven innovation will provide inTEST with significant growth opportunities in the future. Our long-term objective is to grow and transform the Company into a broad-based thermal test solutions company while continuing to supply our valued customers in the semiconductor test arena. Leveraging the strength of our semi business we've increased our footprint with the evolution of our non-semi thermal test solutions. We offer a comprehensive product portfolio capable of addressing growth markets in both the semiconductor and non-semiconductor sectors, including automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications. We believe the conditions for our long term success remain firmly in place. And with that I'd like to turn the call over to Hugh.
