National Technical Reports Dip in 2nd-Quarter Income
National Technical Systems reported its net income for the second quarter, which ended July 31, fell 12%to $296,000, or 5 cents a share, compared to $338,000, or six cents a share, a year earlier. Revenue for the period was up 15%to $7.5 million from $6.5 million a year earlier.
The Calabasas-based engineering services company attributed the earnings decrease to marketing expenses for a Detroit laboratory it acquired in February. NTS said it was promoting the environmental testing facility to automobile and aerospace companies in the Detroit area.
For the six months ended July 31, the company said it earned $634,000, or 11 cents a share, compared to $610,000, or 10 cents a share, a year earlier. Revenue increased 29%to $16.1 million from $12.4 million in the same period a year ago.