Envir Tectonics Stock Price, News & Analysis

Environmental Tectonics Corporation (ETC) has secured a $2.6 million contract to supply climatic test equipment to a leading multinational truck and bus manufacturer. This environmental simulation equipment will enable testing under various conditions, including temperature, humidity, and altitude, for diesel, natural gas, hybrid, and electric vehicles. The systems are aimed at enhancing emissions, product development, and regulatory compliance.

Environmental Tectonics Corporation (OTC Pink: ETCC) will hold its Annual Meeting of Shareholders virtually on November 18, 2021. Key agenda items include electing five directors and ratifying RSM US LLP as the independent accounting firm for the fiscal year ending February 25, 2022. Shareholders eligible to vote were determined as of September 20, 2021, and meeting materials were distributed on October 14, 2021. The change to a virtual format was made for safety reasons. Voting can be done via email to ensure share representation at the meeting.

Environmental Tectonics Corporation (ETCC) reported its financial results for Q2 and the first half of fiscal 2022. For Q2, the company reported a net loss of $1.4 million, or $0.10 per share, an improvement from a $1.7 million loss in Q2 2021. Net sales remained flat at $4.4 million. In the first half of 2022, net income was $0.8 million, down from $3.3 million in 2021, with net sales increasing by 12.9% to $10.5 million. Gross profit improved significantly by 85% to $2.4 million, driven by higher domestic sterilizer sales. Operating expenses decreased by 16.9% for the first half.

Environmental Tectonics Corporation (OTC Pink: ETCC) reported a positive turnaround in its fiscal 2022 first quarter results, with net income of $2.2 million ($0.13 EPS) compared to a net loss of $1.6 million in the prior year. Net sales rose 23.7% to $6.1 million, driven by increased sales of Sterilizers and Aeromedical Training Solutions, contributing to a gross profit increase of 221.3% to $1.7 million. Operating expenses decreased by 13.6% to $1.7 million. The firm received over $10 million in new orders, indicating strong growth momentum as global economies reopen.

Environmental Tectonics Corporation (ETCC) reported fiscal 2021 results, highlighting a net loss of $7.5 million, equating to $0.51 diluted loss per share, compared to $4.0 million in 2020. Sales dropped to $16.3 million, a 60% decline from $40.6 million, largely due to reduced international sales and pandemic-related disruptions. Gross profit plummeted to $1.3 million, an 86% decrease. Despite challenges, fiscal 2022 showed promise with bookings exceeding $10 million in Q1. The company's backlog stood at $16 million, with 88% expected to convert to revenue within the next year.

Environmental Tectonics Corporation (OTC Pink: ETCC) held its Annual Meeting of Shareholders on March 10, 2021. Shareholders voted on two key proposals: the election of five directors, including Dr. George K. Anderson as Chairman, and the ratification of RSM US LLP as independent public accountants for the fiscal year ended February 26, 2021. The leadership team remains intact with Robert L. Laurent, Jr. as CEO and President. ETC specializes in products that replicate physiological responses to motion and manage environmental conditions, setting a high technical standard in their industry.

Environmental Tectonics Corporation (OTC Pink: ETCC) announced multiple contracts totaling $3.1 million awarded since February 1, 2021, primarily from domestic customers. These include two vacuum degassing chambers and seven control system upgrades for ethylene oxide sterilization processes.

ETC’s Sterilization Systems Group specializes in EO sterilization and system controls, providing solutions for the medical device, pharmaceutical, and life science sectors. The awarded contracts highlight ETC's expertise and ongoing growth in this critical industry.

Environmental Tectonics Corporation (ETCC) announced multiple contracts totaling $2.8 million for its Simulation business unit, situated in Orlando, FL. These contracts encompass new ADMS systems, system expansions, and extended maintenance for clients in the US, Europe, and Asia, specifically within Fire Services, Disaster Management Agencies, and Airports. The company emphasizes its leadership in advanced simulation training systems, providing effective training solutions.

Environmental Tectonics Corporation (OTC Pink: ETCC) will host its Annual Shareholders' Meeting online on March 10, 2021, at 10:00 a.m. Shareholders as of the Record Date, December 23, 2020, are entitled to vote. Proxy materials were distributed on February 1, 2021, detailing the business to be conducted. Shareholders are encouraged to ensure their votes are represented, even if they cannot attend.

For more information, visit ETC's website.