Environmental Tectonics' Q3 sales fall 22% due to decreases in sterilizer systems
Overview
Aerospace and industrial systems firm's fiscal Q3 sales fell 22% yr/yr
Net income for fiscal Q3 dropped significantly due to lower sales and higher expenses
Company's sales backlog rose 12% to $69.7 mln, driven by new contracts
Outlook
Company sees increased sales backlog positioning for future growth
Result Drivers
SALES DECLINE - Net sales fell 22% due to decreases in sterilizer systems and environmental testing systems
BACKLOG INCREASE - Sales backlog rose 12% to $69.7 mln, driven by $20 mln in new contract awards
GROSS MARGIN IMPACT - Gross margin declined due to lower-margin aeromedical center construction revenue
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| $12.69 mln |
|
Q3 EPS |
| $0 |
|
Q3 Net Income |
| $178,000 |
|
Q3 Operating Income |
| $879,000 |
|
Q3 Operating Margin |
| 6.90% |
|
Press Release: ID:nGNXM93w0
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