Envir Tectonics - ETCC STOCK NEWS

Environmental Tectonics (OTC Pink: ETCC) reported strong financial results for the fiscal 2025 second quarter ended August 23, 2024. The company saw a 56% increase in net sales to $14.1 million, driven by significant growth in Aircrew Training Systems (ATS), Advanced Disaster Management Simulators (ADMS), and Sterilizer Systems. Net income improved to $1.7 million ($0.09 per diluted share) compared to a net loss of $0.4 million in the prior year quarter.

Gross profit margin increased to 29.8%, up 4.4 percentage points year-over-year. Operating margin improved from -0.8% to 14.0%. The company ended the quarter with a backlog of $109 million, positioning it well for future growth. For the fiscal 2025 first half, net sales increased 65.3% to $27.6 million, with net income of $3.1 million ($0.17 per diluted share) compared to a net loss of $1.5 million in the prior year period.

Environmental Tectonics (OTC Pink: ETCC) has secured contracts totaling $13.4 million across its Aerospace Solutions and Commercial/Industrial Systems segments. The Aerospace unit received $9.7 million in contracts, including mid-life upgrades for various Aerospace products from three international customers and an Airfield Driver Training Simulator System for a major U.S. airport. The Commercial/Industrial Systems segment was awarded $3.7 million in contracts from two domestic customers, covering four steam sterilizer system chambers and a 300kW air-to-water heat pump Psychometric Test Room. CEO Robert L. Laurent, Jr. emphasized that these contracts demonstrate the wide-ranging demand for ETC's engineered solutions across all business units.

Environmental Tectonics (OTC Pink: ETCC) reported strong financial results for Q1 FY2025. Net sales increased 76% to $13.5 million, driven by a 116% increase in Aircrew Training Solutions sales and a 91% increase in Sterilizer Systems sales. The company achieved net income of $1.4 million ($0.08 per diluted share), compared to a net loss of $1.1 million in Q1 FY2024.

Gross profit rose 146.8% to $4.5 million, with gross profit margin improving to 33.6%. ETC ended the quarter with a record backlog of approximately $114 million, which is expected to drive increases in production, sales, and profitability over the next two years. The company's strong performance was partially offset by a $0.3 million loss at its subsidiary, ETC-PZL, due to reduced government grants and orders.

Environmental Tectonics (ETC) reported significant financial improvements for fiscal 2024. Net sales rose by 64.4% to $43.3 million, leading to an $12.5 million gross profit, up 89.7%. The company transitioned from a net loss of $1.6 million in fiscal 2023 to a net income of $1.8 million, or $0.09 per diluted share, in fiscal 2024. In Q4, net income was $2.8 million, with net sales up 86.8% to $16.4 million. ETC's backlog increased to $109 million, compared to $104 million the previous year. The company also noted increased borrowing and higher interest expenses. Operating expenses were stable at $9.5 million. Liquidity improved with working capital rising to $8.7 million.

Environmental Tectonics 's (ETC) Sterilization Systems Group secured contracts totaling $15.9 million from medical device manufacturers and auto racing test equipment supplier. The contracts include ethylene oxide sterilization chambers and vacuum drying chambers. ETC's dedication to innovation and unique process system designs were emphasized.

Environmental Tectonics Corporation (ETCC) reported a 58% increase in third quarter sales, with net income of $0.5 million compared to a loss of $0.8 million versus the prior year. Bookings remain strong, increasing 108% in the third quarter. The backlog has increased 383% from the prior year to the current $114.5 million. The company's net sales for the fiscal first three quarters ended November 24, 2023, were $26.9 million, an increase of $9.3 million, or 53.1%, compared to the previous year. The gross profit was $7.0 million, an increase of $2.3 million, or 49.7%. Operating expenses were $7.0 million, an increase of $0.5 million, or 6.9%. Other expense, net for the fiscal first three quarters was $0.2 million compared to other income, net of ($2.1) million for the previous year, an unfavorable variance of $2.3 million, or 110.2%. The company used $6.0 million of cash from operating activities during the fiscal first three quarters, primarily due to an increase in accounts receivable and prepaid expenses and other assets, slightly offset by an increase in accounts payable and contract liabilities.

Environmental Tectonics Corporation (ETC) (OTC Pink: ETCC) announced that its Aircrew Training Systems business unit was awarded four contracts totaling $9.7 million. Three contracts are for repeat customers in the Middle East and the U.S., and one is for a mid-life upgrade of Spatial Disorientation equipment for an Asian customer. ETC Simulation also received a $2.7 million order for a customized ADMS simulation system for an emergency response training center. These contracts demonstrate strong relationships with global aeromedical customers and the expansion of ETC Simulation’s product line and customer base.

Environmental Tectonics Corporation reports financial results for Q2 2024