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[November 2001]
Advanced Technical Products Q3 Results
Advanced Technical Products Inc (Roswell, GA, USA) - a producer of advanced composite structures etc - reported that revenues from continuing operations for the quarter ended 28 September 2001 were US$43.6 million compared with US$42.09 million in Q3 of 2000, an increase of 3.6%. Net income for the quarter was US$1.95 million compared with US$2.21 million in Q3 of 2000. Excluding certain non-recurring charges of US$0.61 million in Q3 2001, net income for the period would have been US$2.33 million.
Garrett Dominy, President and CEO, said: "We are excited about our Company's prospects for both the immediate and long-term future, based on the significant increase in booked orders and current discussions regarding prospective business in the aerospace and defense sectors".
As of 28 September 2001, the company's backlog was US$735 million, compared with US$559 on 31 December 2000. The backlog includes firm released orders of US$215 million at 28 September 2001 compared with US$156 million at 31 December 2000.
ENDS