Printer Friendly

ENVIRONMENTAL TECTONICS REPORTS FIRST QUARTER EARNINGS

 ENVIRONMENTAL TECTONICS REPORTS FIRST QUARTER EARNINGS
 SOUTHAMPTON, Pa., July 20 /PRNewswire/ -- Environmental Tectonics Corporation (AMEX: ETC) today reported the financial results for the fiscal 1993 first quarter.
 Sales for the first quarter ending May 29, 1992, declined to $5,879,000 compared to $6,867,000 for the first quarter last fiscal year. The company operated at a net loss of $127,000 representing $.04 loss per share versus net income of $291,000 or $.10 earnings per share, for the prior year first quarter period.
 William F. Mitchell, president and chief executive officer, stated, "The reduction in the company's sales revenues, and the net loss on operations reflects the impact of a weak economy and the costs of problem contracts which are now in the last stages of completion. Our backlog at the end of the first quarter totalled $21.8 million. Outlook is for a weak second quarter followed by improved results in the second half of the fiscal year.
 ENVIRONMENTAL TECTONICS CORPORATION
 (In thousands, except per-share amounts)
 First quarter ended May 29, 1992 May 24, 1991
 Sales $5,879 $6,867
 Pretax income (loss) (219) 540
 Income tax (benefit) (92) 249
 Net income (loss) (127) 291
 Earnings (loss) per share $(.04) $.10
 Average shares 2,875 2,909
 Environmental Tectonics Corporation designs, manufactures and installs sterilization equipment, hyperbaric systems, aircrew training systems, environmental testing and simulation systems, and related products for domestic and international customers. ETC is traded under the stock symbol "ETC."
 /delval/
 -0- 7/20/92
 /CONTACT: John F. Schoenfelder, vp and CFO of Environmental Tectonics, 215-355-9100/
 (ETC) CO: Environmental Tectonics Corporation ST: Pennsylvania IN: SU: ERN


MJ-CC -- PH027 -- 0906 07/20/92 16:24 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 20, 1992
Words:281
Previous Article:MR. HERO RESTAURANTS SIGNS WITH OHIO STATE FAIR
Next Article:CHROMALINE SALES AND EARNINGS INCREASE
Topics:


Related Articles
ENVIRONMENTAL TECTONICS CORPORATION REPORTS SETTLEMENT ON CLAIMS UNDER GOVERNMENT STERILIZER CONTRACT
ENVIRONMENTAL TECTONICS CORPORATION REPORTS YEAR-END RESULTS
ENVIRONMENTAL TECTONICS CORPORATION ANNOUNCES DEDICATION OF SEGREGATED STAINLESS STEEL FABRICATION AREA
ENVIRONMENTAL TECTONICS CORPORATION REPORTS SETTLEMENT ON CLAIMS UNDER GOVERNMENT HYPERBARIC SYSTEMS CONTRACT
ENVIRONMENTAL TECTONICS CORPORATION REPORTS THIRD QUARTER RESULTS
ETC RECEIVES $400,000 STERILIZER CONTRACT FOR MEDICAL DEVICE MANUFACTURER IN SAUDI ARABIA
ETC RECEIVES $3.4 MILLION FOR HIGH G-ONSET HUMAN CENTRIFUGE FROM AN INTERNATIONAL CUSTOMER
ETC RECEIVES $300,000 CONTRACT FROM MEDICAL DEVICE MANUFACTURER
ENVIRONMENTAL TECTONICS CORPORATION REPORTS FIRST QUARTER AND FISCAL 1997 RESULTS
Environmental Tectonics Corporation Announces Fourth Quarter And Fiscal 1997 Results

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters