Articles from Environmental Tectonics Corporation

SOUTHAMPTON, Pa., July 11, 2025 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended May 30, 2025 (the “2026 first fiscal quarter”).

SOUTHAMPTON, Pa., June 09, 2025 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the fourteen week period ended February 28, 2025 (the “2025 fiscal fourth quarter”) and the fifty-three week period ended February 28, 2025 (“fiscal 2025”).

SOUTHAMPTON, Pa., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) announced that on November 26, 2024, the Company closed a transaction for the sale and lease back of demonstration equipment located in Southampton, Pennsylvania. Under the terms of the agreement the assets were sold for $4,000,000. In connection with the sale, the Company entered into an Agreement of Lease (“Lease”) with VFI Corporate Finance (“Lessor”) for Lessor to lease back to the Company all the assets sold. The assets have been leased back for an initial term of thirty (30) months (“Initial Term”) and the Lease includes specified end of initial term provisions including extending the lease for an additional year, return the equipment to the Lessor or purchase the equipment at a pre-negotiated price. Net rent expense for the lease is approximately $1,750,000 annually. The assets sold had depreciation expense of approximately $780,000 annually. The proceeds from the sale are being used for additional working capital financing to perform the approximate $100 million backlog of existing projects. “This financing provides additional working capital over our line of credit with PNC to execute the higher level of orders in our backlog,” states Robert L. Laurent, Jr., ETC’s Chief Executive Officer and President.

SOUTHAMPTON, Pa., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended August 23, 2024 (the “2025 fiscal second quarter”) and the twenty-six week period ended August 23, 2024.

SOUTHAMPTON, Pa., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) Aerospace Solutions Segment announced it has been awarded $9.7 million in contracts from three international customers in the Aeromedical Training Solutions (“ATS”) business unit for mid-life upgrades of various Aerospace products as well as a contract for an Airfield Driver Training Simulator System at a large International Airport located in the United States by its Simulation business unit (“ADMS”).

SOUTHAMPTON, Pa., July 18, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended May 24, 2024 (the “2025 first fiscal quarter”).

SOUTHAMPTON, Pa., June 07, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended February 23, 2024 (the “2024 fiscal fourth quarter”) and the fifty-two week period ended February 23, 2024 (“fiscal 2024”).

SOUTHAMPTON, Pa., May 06, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) Sterilization Systems Group announced it has been awarded $13.9 million in contracts from two multi-national medical device manufacturers. The contracts include four, sixteen pallet ethylene oxide (“EO”) sterilization system chambers with related conveyer systems, and a large capacity vacuum drying chamber with preconditioning.  

SOUTHAMPTON, Pa., Jan. 12, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended November 24, 2023 (the “2024 third quarter”) and the fiscal first three quarters ended November 24, 2023.

SOUTHAMPTON, Pa., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) announced that its Aircrew Training Systems business unit (“ATS”) was awarded four contracts totaling $9.7 million. Three are for CLS contracts for repeat customers in the Middle East, and the U.S., and one is for a mid-life upgrade of Spatial Disorientation equipment for an Asian customer.

SOUTHAMPTON, Pa., Oct. 09, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended August 25, 2023 (the “2024 second quarter”) and the twenty-six week period ended August 25, 2023.

SOUTHAMPTON, Pa., July 17, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended May 26, 2023 (the “2024 first fiscal quarter”).

SOUTHAMPTON, Pa., June 29, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) Sterilization Systems Group announced it has been awarded a $17.3 million contract from a multi-national medical device manufacturer. The contract includes four, thirty pallet ethylene oxide (“EO”) sterilization chambers and four, thirty pallet vacuum aeration (de-gassing) chambers. “This contract reflects ETC Sterilization Systems Group’s dedication to innovation in our mechanical designs, control systems and software expertise to meet the challenging requirements of this market,” states Eric Hunnicutt, ETC Director of EO Sterilizer Sales. ETC’s Sterilization Systems Group offers Steam and Ethylene Oxide (“EO”) Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries. ETC’s systems are specially designed to meet unique process systems challenges.

SOUTHAMPTON, Pa., June 15, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announces that the Annual Meeting of Shareholders (“Annual Meeting”) will be held virtually via Zoom on Thursday, July 27, 2023 at 10:00 a.m. for the following purposes:

SOUTHAMPTON, Pa., June 09, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended February 24, 2023 (the “2023 fourth quarter”) and the fifty-two week period ended February 24, 2023 (“fiscal 2023”).

SOUTHAMPTON, Pa., May 05, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announced that Joseph F. Verbitski, Jr. has decided to leave his position as Chief Financial Officer, effective May 12, 2023, to pursue an opportunity outside the company. ETC’s Board of Directors has initiated the process to identify qualified candidates to fill the position.

SOUTHAMPTON, Pa., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) announced that its Aircrew Training Systems business unit (“ATS”) was awarded an $85 million contract for the delivery of an Aeromedical Center including the building and all related facilities, in addition to the following products:

SOUTHAMPTON, Pa., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended November 25, 2022 (the “2023 third quarter”) and the thirty-nine week period ended November 25, 2022 (the “2023 first three quarters”).

SOUTHAMPTON, Pa., Oct. 10, 2022 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended August 26, 2022 (the “2023 second quarter”) and the twenty-six week period ended August 26, 2022.