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Environmental Tectonics (ETC) is a leading company with decades of experience in simulating environments for training, testing, and research and development. They are actively engaged in pursuing cutting-edge technology and contracts to shape the future, providing products that enhance the health, safety, and preparedness of pilots and first responders. ETC offers a range of software-driven products and services that replicate and monitor the physiological effects of motion on humans, along with equipment to control, modify, simulate, and measure environmental conditions. Their innovative solutions include aircrew training systems, disaster management systems, sterilizers (steam and gas), and environmental testing and simulation systems. ETC sets itself apart by delivering complete high-quality systems developed to rigorous technical standards. Headquartered in Southampton, PA, ETC is committed to excellence and innovation in their field.
Environmental Tectonics Corporation (OTC Pink: ETCC) announced an $85 million contract for its Aircrew Training Systems (ATS) unit. The contract involves the construction of an Aeromedical Center and includes a range of products such as the Authentic Tactical Flight Simulator (ATFS-400 25), GL-1500 spatial disorientation trainer, altitude chamber, and a portable hyperbaric chamber. Additionally, the contract encompasses integrated logistics, pilot physiology training, and facility support services. CEO Robert Laurent emphasized that this milestone enhances aviation training capabilities, focusing on pilot safety during flight.
Environmental Tectonics Corporation (OTC Pink: ETCC) reported a 45% sales increase in Q3 2023, reaching $6.4 million, driven by a 123% rise in its Commercial Industrial Segment. Net loss improved to $0.8 million or ($0.06) per share, compared to a loss of $1.0 million ($0.07), mainly due to better sales mix and gross margins. Gross profit soared by 148% to $1.8 million. Despite a 38.5% rise in operating expenses to $2.3 million, the company remains optimistic about backlog strength and future growth opportunities. Brian J. Eccleston was appointed to the Board of Directors.
Environmental Tectonics Corporation (ETCC) reported strong financial results for the 2023 second quarter, noting a 19% increase in sales to $5.2 million compared to the prior year. Bookings surged 466% year-over-year, boosting the backlog by 39% to $25.3 million. Net income reached $1.2 million or $0.07 per share, contrasting with a loss of $1.4 million in Q2 2022. The gross profit rose to $1.3 million, marking a 24.2% margin, up from 16.5% last year. However, operating expenses increased by 18% to $2.2 million due to heightened administrative costs.
Environmental Tectonics Corporation (OTC Pink: ETCC) has secured an $8.3 million contract from an international client for three ethylene oxide sterilization chambers designed for medical devices. This deal represents a continuation of repeat business within the sterilization sector. Year-to-date orders for the first half of fiscal 2023 have reached $17.4 million, up from $12.8 million in the same period last year. The company's Sterilization Systems Group specializes in custom sterilization solutions for various industries, highlighting its competitive edge.
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