National Technical Systems, Inc. reported net income of $3.5 million, or $0.35 per diluted share, in the first quarter of fiscal 2011, which ended 4/30/2010. This was a strong improvement over the net income of $0.54 million, or $0.06 per diluted share, that the company earned in the corresponding quarter last year.
National Technical Systems, Inc. said that the net income for the first quarter of fiscal 2011 contained a net gain of $1.8 million from the sale of property that the company owned in Virginia. The company earned $1.7 million, or $0.17 per diluted share, excluding this onetime gain.
National Technical Systems, Inc. also reported a strong increase in sales on a year over year basis. The company reported sales of $36.1 million in the first quarter of fiscal 2011, compared to $28.7 million in the same quarter in fiscal 2010.
National Technical Systems, Inc. said that the large improvement in sales and net income was due to strength in the company’s aerospace and defense businesses. The company said that the automotive business was the weakest during the quarter.
National Technical Systems, Inc. provides engineering and testing services to private companies and governments. The company does business in the United States, China, Europe and Japan.
For more information on the company, go to www.ntscorp.com