ETCC.. $2.01
Cross Post..
Posted by: Knowledge is King Date: Thursday, October 15, 2009 1:15:48 PM
In reply to: Knowledge is King who wrote msg# 119681 Post # of 123248
ETCC ($2.01) PR'd $40M contract last night...
In the past 6 weeks alone the company has booked two years worth of business based on current annual revenue levels.
PRW: Environmental Tectonics Corporation Awarded Major Contract for Multiple Tac
Simulators include ATFS-400 and GL-4000
SOUTHAMPTON, Pa., Oct. 14 /PRNewswire-FirstCall/ -- Environmental Tectonics
Corporation's (OTC Bulletin Board: ETCC) ("ETC" or the "Company") Training
Services Group has been awarded a contract from a long time customer in Asia
to provide a full range of aircrew training and tactical flight simulation
devices. The contract, valued at over $40 million, includes ETC's Authentic
Tactical Flight Simulator-400 (ATFS-400) and our Gyrolab GL-4000 Spatial
Disorientation Trainer. The equipment will be built at ETC's main
manufacturing plant in Southampton, PA, USA, with support from ETC-PZL, our
subsidiary in Poland, and ETC Turkey, our subsidiary in Turkey. The contract
calls for delivery of the devices starting in early 2012 and includes
installation, training and maintenance support.
The ATFS-400 integrates a high fidelity aircraft cockpit that incorporates a
virtual tactical environment into a high-performance, fully flyable human
centrifuge. Pilots can fly the ATFS like a tactical aircraft. The ATFS-400
combines ETC's virtual battle space, unique G-Pointing, motion-based
technologies, and ETC's "Signature Technology" to replicate the performance
and feel of the aircraft and produce an authentic experience for the pilot
that rivals flying the actual aircraft. The ATFS-400 produces the most
authentic flight experience possible in a ground-based simulator and allows
pilots to hone their tactical skills at 1/28th the cost of flying the
aircraft. This will be the eleventh high performance human centrifuge built
by ETC, and the fourth ATFS-400 system in the world.
ETC's GL-4000 offers sustained G motion cuing in a high fidelity simulator.
Unlike traditional six degree of freedom (6 DoF) systems, the GL-4000
simulates the actual physiological stresses a pilot experiences while
maneuvering a high performance jet aircraft. This capability results in
maximum learning transfer to the aircraft and better trained pilots. The
GL-4000 features easily interchangeable cockpits based on ETC's Component
Based Cockpit Module (CBCM) technology. Pilots can be trained for
tactical flight maneuvering, situational awareness and spatial
disorientation in the same manner as they would train in their own actual
aircraft.
William F. Mitchell, President and Chairman of ETC, stated, "Booking this
contract is a great achievement for ETC. We have long had a significant
presence in Asia and this valued customer has ordered our latest advanced
technology. This award solidifies our leadership position in the advanced
tactical flight and aeromedical training simulation field.
ETC was incorporated in 1969 in Pennsylvania and this year we have
celebrated our 40th anniversary. Our core technologies include the design,
manufacture and sale of Training Services (TSG) which includes (1) software
driven products and services used to create and monitor the physiological
effects of flight; (2) high performance jet tactical flight simulation, and;
(3) driving and disaster simulation systems, and Control Systems (CSG) which
includes: (1) steam and gas sterilization; (2) testing and simulation
devices for the automotive industry, and; (3) hyperbaric and hypobaric
chambers. Product categories included in TSG are Aircrew Training Systems
(ATS) and flight simulators, disaster management systems and entertainment
applications. CSG includes sterilizers, environmental control devices and
hyperbaric chambers along with parts and service support.
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on ETC's current expectations and projections about
future events. These forward-looking statements are subject to known and
unknown risks, uncertainties and assumptions about ETC and its subsidiaries
that may cause actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements.
These forward-looking statements include statements with respect to the
Company's vision, mission, strategies, goals, beliefs, plans, objectives,
expectations, anticipations, estimates, intentions, financial condition,
results of operations, future performance and business of the company,
including but not limited to, (i) potential additional funding by H.F.
Lenfest, a member of our Board of Directors and a significant shareholder,
and PNC Bank, (ii) the trading of the Company's common stock on the
Over-the-Counter Bulletin Board (iii) projections of revenues, costs of
materials, income or loss, earnings or loss per share, capital expenditures,
growth prospects, dividends, capital structure, other financial items and
the effects of currency fluctuations, (iv) statements of our plans and
objectives of the Company or its management or Board of Directors, including
the introduction of new products, or estimates or predictions of actions of
customers, suppliers, competitors or regulatory authorities, (v) statements
of future economic performance, (vi) statements of assumptions and other
statements about the Company or its business, (vii) statements made about
the possible outcomes of litigation involving the Company, (viii) statements
regarding the Company's ability to obtain financing to support its
operations and other expenses, and (ix) statements preceded by, followed by
or that include the words, "may," "could," "should," "looking forward,"
"would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or
the negative of such terms or similar expressions. These forward-looking
statements involve risks and uncertainties which are subject to change based
on various important factors. Some of these risks and uncertainties, in
whole or in part, are beyond the Company's control. Factors that might cause
or contribute to such a material difference include, but are not limited to,
those discussed in the Company's Annual Report on Form 10K for the fiscal
year ended February 27, 2009, in the section entitled "Risks Particular to
Our Business." Shareholders are urged to review these risks carefully prior
to making an investment in the Company's common stock.
The Company cautions that the foregoing list of important factors is not
exclusive. Except as required by federal securities law, the Company does
not undertake to update any forward-looking statement, whether written or
oral, that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO
Tel: 215-355-9100 (ext. 1203)
Fax: 215-357-4000
