Exhibit 99.1
ENVIRONMENTAL TECTONICS CORPORATION
ANNOUNCES THIRD QUARTER and YEAR TO DATE FISCAL 2010 RESULTS
Southampton, PA, January 12, 2010 — Environmental Tectonics Corporation (OTC Bulletin Board: ETCC) (“ETC” or the “Company”) today announced financial results for the third quarter and nine months of fiscal 2010 which ended on November 27, 2009.
The reader is referred to the Company’s Quarterly Report on Form 10-Q for the period ended November 27, 2009, filed on January 11, 2010, for additional information on the Company’s financial results.
Overview
ETC was incorporated in 1969 in Pennsylvania (USA) and we operate in two segments: the Training Services Group (TSG) and the Control Systems Group (CSG). Product categories included in TSG are pilot training and tactical flight simulators, disaster management systems and entertainment applications. The CSG segment includes sterilizers, environmental control devices and hyperbaric and hypobaric chambers along with parts and service support.
Financial Results
Thirteen weeks ended November 27, 2009 compared to thirteen weeks ended November 28, 2008
                                 
    Summary Table of Results  
    Thirteen weeks ended:     Variance     Variance  
    November 27,     November 28,              
    2009     2008     $     %  
    (amounts in thousands except share and        
    per share information)   (   )=Unfavorable  
Sales:
                               
Domestic
  $ 4,392     $ 2,702     $ 1,690       62.6 %
US Government
    2,321       367       1,954       532.4 %
International
    4,261       5,637       (1,376 )     (24.4 )%
     
 
                               
Total Sales
    10,974       8,706       2,268       26.1 %
 
                               
Gross Profit
    4,444       2,957       1,487       50.3 %
Selling, general and administrative
    2,905       2,434       (471 )     (19.4 )%
Research and development
    (201 )     247       448       181.4 %
     
Operating profit
    1,740       276       1,464       530.4 %
Interest expense, net
    164       417       253       60.7 %
Other expense (income), net
    121       (27 )     (148 )     548.2 %
Loss on extinguishment of debt
    91             (91 )     n/a  
Income tax benefit
    (2,606 )           2,606       n/a  
Minority interest
    (8 )     (1 )     7       700.0 %
     
 
                               
Net income (loss)
  $ 3,978     $ (113 )   $ 4,091       3,620.4 %
Preferred stock dividends
    (594 )     (230 )     (364 )     (158.3 )%
     
Income (loss) applicable to common shareholders
  $ 3,384     $ (343 )   $ 3,727       1,086.6 %
     
 
                               
Per share information:
                               
Earnings (loss) per common share:
                               
Basic
  $ 0.37     $ (0.04 )   $ 0.41       1,025.0 %
Diluted
  $ 0.19     $ (0.04 )   $ 0.23       575.0 %
 
                               
Weighted average common shares:
                               
Basic
    9,071,000       9,035,000                  
Diluted
    21,277,000       9,035,000                  
     

 


The following information was filed by Environmental Tectonics Corp (ETCC) on Thursday, January 14, 2010 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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