"Although our cash balance dropped through the nine months, we did manage to generate positive cash from our operating activities. However, we expect to need additional cash to continue growing and operating our business. To that end, we are currently in negotiations with our major lender, H.F. Lenfest, and our bank, to provide additional funding.
"Given the extremely difficult economic global situation, our growth this fiscal year is remarkable."
The reader is referred to the Company's Quarterly Report on Form 10-Q for the period ended November 28, 2008 for additional information on the Company's financial results.
ETC designs, develops, installs and maintains aircrew training systems (aeromedical, tactical combat and general), disaster management training systems and services, entertainment products, sterilizers (steam and gas), environmental testing products, hyperbaric chambers and related products for domestic and international customers.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ETC's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC's and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans,
|SOURCE Environmental Tectonics Corporation|
Copyright©2009 PR Newswire.
All rights reserved