Exhibit 99.1
ENVIRONMENTAL TECTONICS CORPORATION
ANNOUNCES RESTATED PRIOR PERIOD FINANCIAL RESULTS
          Southampton, PA, April 24, 2008 –
Environmental Tectonics Corporation (AMEX: ETC) (“ETC” or the “Company”) today announced restated financial results for the third quarter and year-to-date of fiscal 2007 and full year fiscal 2007, which ended February 23, 2007. The operating results published below reflect the formal investigation conducted by the Company’s Audit Committee, in conjunction with management, of the impact of the previously announced claim settlement with the U.S. Navy (the “Navy”) in June 2007. After investigation, it was determined that the carrying value of the claim receivable associated with the U. S. Navy dispute had been impaired during the third quarter of fiscal 2007. The impairment resulted from certain allegations made by the Navy, which subsequently resulted in a counterclaim being filed by the Navy against the Company. The Navy claim issue has now been fully resolved as described below.
          The restatement in the third quarter, third quarter year-to-date and full year results of fiscal 2007 involves one change, namely the recording of a reserve against a claim receivable for the full amount of the carrying value of $3,004,000 of the previously recorded claim receivable related to the Navy submarine decompression rescue chamber project. The effect of this adjustment results in a corresponding reduction in accounts receivable, an increase in net loss and a reduction in stockholder’s equity. As previously reported on a Form 8-K filed July 16, 2007, the Company had expensed the claim receivable during the first quarter of fiscal 2008, reflecting the aforementioned settlement with the Navy. Therefore, the first quarter operating results will be adjusted to reflect a reversal of the charge for the receivable, resulting in a $3,004,000 increase in net income. No other changes to the previously reported financial results were determined to be required.
     The restated consolidated financial statements of operations by period, with comparisons to previously stated financial results, follow:
                                 
    Fiscal 2007  
    UNAUDITED  
    (dollars in thousands, except share and per share information)  
    13 weeks ended     13 weeks ended     39 weeks ended     39 weeks ended  
    Nov. 24, 2006     Nov. 24, 2006     Nov. 24, 2006     Nov. 24, 2006  
    restated     as reported     restated     as reported  
Net sales
  $ 4,718     $ 4,718     $ 13,622     $ 13,622  
Cost of goods sold
    3,688       3,688       11,084       11,084  
 
                       
Gross profit
    1,030       1,030       2,538       2,538  

6


The following information was filed by Environmental Tectonics Corp (ETCC) on Thursday, April 24, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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