Acquisitions Help NTS With Net Income

Internal growth and acquisitions contributed to engineering testing firm National Technical Systems Inc. to post a nearly 50 percent increase in net income for the second quarter when compared to the previous year. The Calabasas-based company had net income of $1.1 million, or $0.12 per diluted share, on revenues of $36 million for the quarter ending July 31. For the same period in 2007, the company had net income of $770,000, or $0.08 per diluted share, on revenues of $31 million. In June, National Technical completed its acquisition of Bay Area firm Elliott Laboratories. From a financial perspective, the acquisition is performing above expectations, said company CEO William C. McGinnis. “In addition, the demand for aerospace testing was strong across the company and as a result, we experienced strong financial performance from our California and Massachusetts facilities,” McGinnis said. “Our Wichita facility, another recent acquisition, experienced increased demand for body armor testing during this past quarter.”