National Technical Systems Reports Record Revenues For Third Quarter and Nine Months; 66.1% Increase In Revenue in IT Staffing Division.CALABASAS, Calif.--(BUSINESS WIRE)--Nov. 20, 1997--National Technical Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NTSC (National TV Standards Committee) The committee that developed the television standards for the U.S, which are also used in Canada, Japan, South Korea and several Central and South American countries. Both the committee and the standard are called "NTSC. ) Thursday announced that revenues for its third quarter and nine months ended Oct. 31, 1997 reached record levels of approximately $15 million and $41.7 million, respectively. Complete results for the third quarter and nine months ended Oct. 31, 1997 are expected to be released early in December. Third-quarter revenue increased approximately 21.6 percent, compared with revenue of $12.3 million for the same period the previous year. Nine-month revenue increased 19.5 percent, compared with revenue of $34.9 million for the same year-earlier period. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the announcement by NTS NTS National Technical Systems NTS National Trust for Scotland NTS Nevada Test Site NTS NT Server (Microsoft Windows) nts Not the Same NTS National Traffic System (amateur radio) President and Chief Executive Officer Jack Lin, compared with the previous year's third quarter, revenue in the IT Staffing Division rose 66.1 percent to $3.2 million from $1.9 million, revenue in the Testing and Evaluation Division rose 11.9 percent to $10.9 million from $9.8 million and revenue in the Registration Services Division rose 38 percent to $901,000 from $653,000. Lin commented: "These record revenues are due to increasingly strong demand within all of our divisions, especially recognizable in our IT Staffing Division, as we continue to meet current staffing requirements from downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing companies." Lin continued: "During the first three quarters of fiscal 1998, we continued our commitment to expand the reach and resources of each of our divisions as was demonstrated by our acquisition of Laboratory Testing Systems Inc. of Athol, Mass. and the purchase of the staffing division of Webster, Texas-based Johnson Engineering Corp. "We also continued to secure other highly visible projects," Lin said, "such as when we were chosen by NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. to provide ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 Registration for Johnson Space Center and Marshall Space Flight Center The George C. Marshall Space Flight Center (MSFC), the original home of NASA, is a lead center for propulsion, Space Shuttle propulsion, Shuttle external fuel tank, crew training and payloads, International Space Station (ISS) design and construction, for computers, networks, and and were selected by McDonnell Douglas to provide ISO 9001 Registration for six divisions. "Additionally, we recently announced a three-year open-ended contract from the Palmdale, Calif.-based Lockheed Martin Skunk skunk, name for several related New World mammals of the weasel family, characterized by their conspicuous black and white markings and use of a strong, highly offensive odor for defense. Works Division to provide testing, analysis and engineering support personnel." National Technical Systems is a premier diversified technology services company with business in technical services (engineering and testing), technical staffing and registration services. -0- NOTE: The statements in this news release that relate to future plans, events or performance, are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to operating new facilities, customer orders, demand for products and services, development of markets for the company's products and services and other risks identified in the company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Allen & Caron Inc. Damon Wright (investors) Owen Daley (media) 714/252-8440 or National Technical Systems Lloyd Blonder, 818/591-0776 |
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