Industrial machinery manufacturer ETC reports 20.5% rise in Q2 sales

Overview

• ETC fiscal Q2 net sales rise 20.5%, driven by ATS and Sterilizer Systems

• Net income for fiscal Q2 falls due to higher non-cash tax expense

• Operating income for fiscal Q2 increases 26% despite lower gross profit margin

Outlook

• Company did not provide specific guidance for future quarters or full year

Result Drivers

• ATS AND STERILIZER SALES - Significant sales increases in ATS and Sterilizer Systems drove overall sales growth

• LOWER MARGINS - Gross profit margin decreased due to lower margins from subcontracted aeromedical center building work

• OPERATING EXPENSES - Increase in operating expenses due to higher selling and marketing expenses

Key Details

Press Release: ID:nGNX2HfS6h

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