Welcome to our dedicated page for Envir Tectonics news (Ticker: ETCC), a resource for investors and traders seeking the latest updates and insights on Envir Tectonics stock.
Environmental Tectonics Corporation (ETC) (OTC: ETCC) generates news around its specialized simulation, training, and environmental systems businesses. The company’s updates frequently cover contract awards, segment performance, and financial results across its Aerospace Solutions and Commercial/Industrial Systems segments.
News from the Aerospace Solutions segment often highlights Aircrew Training Systems (ATS) contracts and upgrades, including high performance jet tactical flight simulation, upset prevention and recovery, spatial disorientation training, and systems supporting suborbital and orbital commercial human spaceflight. Releases have described awards for Ejection Seat Simulators, Hypobaric Chambers, and mid-life upgrades of various aerospace products for international customers. The Simulation (ADMS) business unit also appears in news items announcing Airport Fire Truck Simulators, Petro-chemical Industry Incident Command Training Systems, and Airfield Driver Training Simulator Systems.
On the Commercial/Industrial Systems side, ETC news includes contracts for steam and gas sterilizer systems and Environmental Testing and Simulation Systems (ETSS). Company announcements have detailed ETSS contracts as environmental test cell equipment supplier for racing and heavy-duty diesel engine development centers, including systems that provide precisely conditioned combustion air and altitude simulation. Sterilizer Systems news has referenced multi-chamber steam sterilizer projects for domestic customers.
Investors and followers of ETCC can also review periodic earnings releases, where ETC reports segment net sales, gross profit trends, backlog levels, and cash flow information. These releases provide insight into long-term contracts with U.S. and foreign government agencies, as well as commercial customers in healthcare, pharmaceuticals, and automotive. Bookmark this page to access a consolidated feed of Environmental Tectonics Corporation news, including contract announcements, financial updates, and segment developments.
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.
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