Environmental Tectonics Corporation Announces Third Quarter and Year To Date Fiscal 20...(owing. Other income/expense net w...),Health

Other income/expense, net, was a net income of $38,000 for the first nine months of fiscal 2009 versus a net expense of $102,000 for the first nine months of fiscal 2008, an increase in income of $140,000. The prior period included a significant local license charge related to an ATS contract in Turkey.

                                          Summary Table of Results
                              Thirteen       Thirteen
                            weeks ended    weeks ended  Variance     Variance
                             November 28,  November 23,
                                2008           2007        $            %
                             (amounts in thousands)    Favorable (Unfavorable)
    Sales:
         Domestic              $2,702        $4,575    ($1,873)      (40.9%)
         US Government            367           443        (76)      (17.2%)
         International          5,637         1,683      3,954       234.9%

         Total Sales            8,706         6,701      2,005        29.9%

     Gross Profit               2,957         1,267      1,690       133.4%
     Selling, general and
      administrative            2,434         2,830        396        14.0%
     Research and development     247            64       (183)     (285.9%)
     Operating profit (loss)      276        (1,627)     1,903       117.0%
     Interest expense, net        417           406        (11)       (2.7%)
     Other expense, net           (27)           61         88       144.3%
     Income taxes                   0             0          0
     Minority interest             (1)            4          5       125.0%

     Net loss                   ($113)      ($2,098)    $1,985        94.6%
     Net loss per common share ($0.04)       ($0.26)     $0.22        84.6%

                                          Summary Table of Results
                           
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SOURCE  Environmental Tectonics Corporation
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