Environmental Tectonics Corporation (ETC) has reported its financial results for the thirteen week period ended May 26, 2017 (the 2018 first quarter). Net income attributable to ETC was US$0.1m in the 2018 first quarter, compared to a net loss attributable to ETC of US$0.5m during the 2017 first quarter. The US$0.6m variance is due to the combined effect of a US$0.7m increase in gross profit, a US$0.2m favorable variance in other (income) expense, net, and a US$41 thousand decrease in interest expense, offset, in part, by a $0.4 million increase in operating expenses. Net sales in the 2018 first quarter were US$11.5m, an increase of US$0.8m, or 7.1%, compared to 2017 first quarter net sales of US$10.7m.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada