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ETCC — Environmental Tectonics News Story

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Environmental Tectonics' Q3 sales fall 22% due to decreases in sterilizer systems

Overview

Aerospace and industrial systems firm's fiscal Q3 sales fell 22% yr/yr

Net income for fiscal Q3 dropped significantly due to lower sales and higher expenses

Company's sales backlog rose 12% to $69.7 mln, driven by new contracts

Outlook

Company sees increased sales backlog positioning for future growth

Result Drivers

SALES DECLINE - Net sales fell 22% due to decreases in sterilizer systems and environmental testing systems

BACKLOG INCREASE - Sales backlog rose 12% to $69.7 mln, driven by $20 mln in new contract awards

GROSS MARGIN IMPACT - Gross margin declined due to lower-margin aeromedical center construction revenue

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Sales$12.69 mln
Q3 EPS$0
Q3 Net Income$178,000
Q3 Operating Income$879,000
Q3 Operating Margin6.90%
Press Release: ID:nGNXM93w0 For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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