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Net income at National Technical Systems Inc. (NASD: NTSC) rose 211.7% to $770,000 in its fiscal second quarter ended July 31. The company posted net income of $247,000 in the same period in the prior year.
"Results this quarter exceeded our expectations in the engineering and evaluation segment," said CEO William McGinnis. "An expanding aerospace market and a healthy defense market fueled the revenue growth in this segment. These markets generate higher margins and have positively impacted our bottom line."
The Calabasas CA-based company's engineering and evaluation division provides product testing services, while its technical solutions division provides staffing. National Technical Systems reported technical solutions revenue of $8.2 million in the second quarter, down 10.9% from $9.2 million in the same period last year.
The company's total revenue rose 9.1% to $31.0 million in the second quarter from $28.4 million in the second quarter of the prior year. Gross margin improved to 26.2% from 23.1%.
National Technical Systems Inc. (NASD: NTSC)
For the second quarter ended July 31, 2007, compared with the same period in the prior year.
Revenue: $31.0 million, +9.1%
Net income: $770,000, +211.7%