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Wednesday, Jun 7, 2023

Net Income Jumps for NTS

Engineering test services firm National Technical Systems Inc. reported an 82 percent increase in net income for the third quarter when compared with the previous year. The Calabasas-based company had net income of $1.1 million, or $0.12 per diluted share, on revenues of $32.6 million for the quarter ending Oct. 31. For the same period in 2007, the company reported net income of $631,000, or $0.07 per diluted share, on revenues of $26 million. The results show that the company’s growth strategy of expanding on engineering and testing services is working, said CEO William C. McGinnis. “Our backlog remains strong, particularly in the aerospace, defense and power markets despite the difficult economic climate,” McGinnis said.

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