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 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.