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National Technical Systems Swings to Profit

National Technical Systems Inc. announced on Tuesday it swung to a profit in its fiscal third quarter, citing an acquisition and growth in its aerospace, energy and defense businesses. The Calabasas provider of testing and engineering services reported net income of $2.2 million (19 cents a share) in the quarter ended Oct.31, compared with a net loss of $187,000 (-2 cents) in the same period a year earlier. Revenues increased 23 percent to $49.9 million. Chief Executive William McGinnis said the company has grown both organically and through its June acquisition of Garwood Laboratories, a Pico Rivera commercial and military testing agency. “Despite uncertainties due to economic conditions and the current government fiscal policy situation, our momentum continues as we strive to further solidify our position as the premier independent testing company in the United States,” he said, in a prepared statement. Shares gained 15 cents, or nearly 2 percent, to $7.85 in late afternoon trading on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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