National Technical Says Profit Down, Revenue Up
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National Technical Systems Inc. said its fiscal first-quarter profit tumbled 37% from a year earlier despite a 32% increase in revenue.
The Calabasas provider of engineering and testing services said its net income in the quarter ended April 30 fell to $127,000 from $201,000 a year earlier. Its revenue rose to $10.2 million from $7.72 million.
National Technical blamed the lower profit on lower than expected results at its recently acquired S&W; Technical Services unit, which provides services for nuclear-power plants and other utility needs. The company said S&W; Technical’s problems would again adversely affect earnings in the company’s fiscal second quarter that ends July 31.
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