National Technical Posts $152,000 Quarterly Loss
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National Technical Systems lost $152,000 on sales of $5.9 million in its first quarter ended April 30. During the same period a year earlier, the company reported a profit of $170,000 on sales of $6.1 million.
Calabasas-based NTS performs testing services, primarily for the defense and aerospace industries.
Lloyd Blonder, vice president for finance, said the losses mainly came from a San Ramon-based soil-testing division, which was sold June 2, and NTS Products of Chatsworth, which is being shut down.
Together, the two divisions lost $241,000 in the quarter. NTS said it expects to record additional losses of about $600,000 from the units in the second quarter ending July 31.
The soil-testing unit, which employed five, was sold to EQE Inc. of San Francisco. NTS Products, which employed seven, is expected to close in July.
NTS licensed an Ohio firm to make and market NTS Products’ sole device, a sound-activated switch for lights and appliances.
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