Exhibit 99.1

EDAC TECHNOLOGIES REPORTS SOLID FIRST QUARTER RESULTS

FARMINGTON, Conn., April 22, 2008 — EDAC Technologies Corporation (NASDAQ: EDAC), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported results for the first quarter of 2008.

Sales for the first quarter of 2008 were $11,181,000 and net income was $630,000 or $0.13 per diluted share, versus sales of $12,316,000 and net income of $781,000 or $0.16 per diluted share for the first quarter of 2007.

Dominick A. Pagano, President and Chief Executive Officer, said, “While this was a challenging quarter for our company, we are pleased with our results. As previously announced, during the first quarter, our aerospace customers changed their delivery schedules reducing our sales for the first half of 2008. However, while we were not able to react to minimize the impact of these changes on our first quarter results, going forward we believe that, our sales in each of the next three quarters will progressively allow us to show increased sales and net income for the year ending 2008 vs. 2007. Operating income for the first quarter was further impacted by the addition of sales and engineering personnel hired to handle our planned growth and order backlog.

Pagano added, “We fully anticipate that the aerospace market will remain strong for the long-term. Our strategy is to pursue those long-term opportunities by investing in skilled personnel and state-of-the-art machinery and equipment, and committing to continuous improvement throughout our organization. We will incur costs in the short-term, but in the long-term we believe this will build the financial strength of our company, to the benefit of our shareholders.”

About EDAC Technologies Corporation

EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.

Cautionary Statement Regarding Forward Looking Statements — This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as “plans,” seeks,” “projects,” “expects,” “believes,” “may,” “anticipates,” “estimates,” “should,” and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company’s beliefs and assumptions. There are a number of important factors that may affect the Company’s actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company’s products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company’s competitors; and the Company’s ability to enter into satisfactory financing arrangements. These and other factors are described in the Company’s annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.

EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED

	For the quarter ended
	March 29,			March 31,
	2008			2007
Sales	$	11,181,103		$	12,315,638
Cost of Sales		9,095,094			9,968,094
Gross Profit		2,086,009			2,347,544
Selling, General and Administrative Expenses		969,120			917,625
Income From Operations		1,116,889			1,429,919
Non-Operating Income (Expense):
Interest Expense		(164,577	)		(194,436	)
Other		44,555			4,795
Income Before Income Taxes		996,867			1,240,278
Provision for Income Taxes		367,000			459,000
Net Income	$	629,867		$	781,278
Income per common share data:
Basic income per share	$	0.14		$	0.17
Diluted income per share	$	0.13		$	0.16
Weighted average shares outstanding:
Basic		4,652,928			4,532,687
Diluted		4,976,915			4,829,478

EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS

	(Unaudited)			(Audited)
	March 29,			December 29,
	2008			2007
ASSETS
CURRENT ASSETS:
Cash	$	2,371,539		$	3,286,203
Accounts receivable, net		7,690,524			7,638,573
Inventories, net		7,353,123			6,598,111
Prepaid expenses and other current assets		205,606			51,339
Refundable income taxes		284,577			284,577
Deferred income taxes		908,124			933,124
Total current assets		18,813,493			18,791,927
PROPERTY, PLANT AND EQUIPMENT		35,124,253			34,869,219
Less: accumulated depreciation		22,721,927			22,390,417
		12,402,326			12,478,802
OTHER ASSETS, net		486,342			492,051
TOTAL ASSETS	$	31,702,161		$	31,762,780
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	2,315,334		$	2,285,704
Trade accounts payable		4,214,692			4,021,827
Employee compensation and amounts withheld		1,262,077			1,800,390
Accrued expenses		562,931			395,950
Customer advances		369,601			424,439
Total current liabilities		8,724,635			8,928,310
LONG-TERM DEBT, less current portion		6,614,855			7,204,769
DEFERRED INCOME TAXES		448,660			448,660
SHAREHOLDERS’ EQUITY:
Common stock		11,668			11,591
Additional paid-in capital		10,348,903			10,245,877
Retained earnings		6,650,109			6,020,242
Accumulated other comprehensive loss		(1,096,669	)		(1,096,669	)
Total shareholders’ equity		15,914,011			15,181,041
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	31,702,161		$	31,762,780

     Contact: Glenn L. Purple, Vice President-Finance 860-677-2603