78.5 F
San Fernando
Wednesday, Jun 7, 2023

Acquisitions Help NTS With Net Income

Internal growth and acquisitions contributed to engineering testing firm National Technical Systems Inc. to post a nearly 50 percent increase in net income for the second quarter when compared to the previous year. The Calabasas-based company had net income of $1.1 million, or $0.12 per diluted share, on revenues of $36 million for the quarter ending July 31. For the same period in 2007, the company had net income of $770,000, or $0.08 per diluted share, on revenues of $31 million. In June, National Technical completed its acquisition of Bay Area firm Elliott Laboratories. From a financial perspective, the acquisition is performing above expectations, said company CEO William C. McGinnis. “In addition, the demand for aerospace testing was strong across the company and as a result, we experienced strong financial performance from our California and Massachusetts facilities,” McGinnis said. “Our Wichita facility, another recent acquisition, experienced increased demand for body armor testing during this past quarter.”

Featured Articles

Related Articles