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Environmental Tectonics Corporation Announces Third Quarter and Year To Date Fiscal 2009 Results
Date:1/14/2009

Thirty-nine Thirty-nine weeks ended weeks ended Variance Variance November 28, November 23, 2008 2007 $ % (amounts in thousands) Favorable (Unfavorable) Sales: Domestic $12,348 $9,416 $2,932 31.1% US Government 1,742 1,090 652 59.8% International 13,315 4,789 8,526 178.0% Total Sales 27,405 15,295 12,110 79.2% Gross Profit 7,494 2,794 4,700 168.2% Selling, general and administrative 8,502 8,353 (149) (1.8%) Claim settlement costs 0 3,639 3,639 100.0% Research and development 946 355 (591) (166.5%) Impairment expense 0 0 0 Operating loss (1,954) (9,553) 7,599 79.5% Interest expense, net 1,287 1,146 (141) (12.3%) Other expense, net (38) 102 140 137.3% Income taxes 0 0 0 Minority interest (6) (8) (2) 25.0% Net loss ($3,197) ($10,793) $7,596 70.4% Net loss per common share ($0.43) ($1.24) $0.81 65.3%

William F. Mitchell, ETC's President and Chairman, stated, "The financial results for the third quarter and year to date fiscal 2009 are very encouraging. They reflect a major shift to sales of sophisticated pilot training simulators in the international markets which was furthered by some significant increases in our domestic product lines, most notable our hyperbaric line which was up over 100%.
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SOURCE Environmental Tectonics Corporation
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