ExelTech reports net loss of $1.8 million for year ended March 31, 2008

ExelTech Aerospace released its financial results for the fiscal year ended March 31, 2008, posting a net loss of $1.8 million.

The Company reported revenues of $54.4 million for fiscal 2008 compared to $49.8 million in fiscal 2007, a 9% increase. It also reported an operating profit (earnings before amortization and financial expenses) of $0.5 million, compared to $4.8 million in the prior year. The net loss for fiscal 2008 is $1.8 million, compared to net earnings of $1.3 million in fiscal 2007.

This month ExelTech takes possession of its new purpose-built heavy maintenance facility at Montreal

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