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NTS revenue down 6.2%

September 14, 2009

National Technical Systems Inc (NASD: NTSC) reported that revenue for the quarter ended July 31 decreased 6.2% to $28.7 million compared to $30.6 million for the same period in the prior year. Total revenue for the six months ended July 31 was up 0.4% to $57.4 million compared to $57.2 million for the same period in the prior year.

The company's net income from continuing operations for the quarter was down 16.4% to $852,000 as compared to $1.1 million for the same period in the prior year. Net income from continuing operations for the six months ended July 31 decreased 20.6% to $1.4 million as compared to $1.8 million for the same period in the prior year.

"I'm encouraged by our second quarter results, considering the challenging economic environment," said CEO William McGinnis. "New orders booked on average have increased 10% compared to the same period last year. Aerospace and defense orders continue to show strong growth while offset slightly by a moderate decline in orders in the automotive, power products and telecommunications markets," he said.

McGinnis said backlog for the company is strong with 6.6% increase compared to same period last year. Additional revenue from NTS' acquisition of Elliott Laboratories was $2.1 million for the six-month period.