Welcome to our dedicated page for CPS Technologies news (Ticker: CPSH), a resource for investors and traders seeking the latest updates and insights on CPS Technologies stock.
CPS Technologies Corp. (Symbol: CPSH) has been a pioneering force in the field of advanced material solutions for over two decades. The company is renowned for its expertise in Aluminum Silicon Carbide (AlSiC) metal matrix components, which play a critical role in the thermal management of electronic devices. CPS Technologies' Al-MMC toolbox also features ceramic hollow shell reinforcements, creating syntactic MMCs that are nearly half the density of aluminum. These structures can be combined with fiber-reinforced layers to form lightweight, stiff, Al-MMC structures.
The company's product portfolio extends to HybridTech Armor®, which integrates aluminum metal matrix composite encapsulated ceramic tiles for superior ballistic protection. CPS Technologies also manufactures structural components, primarily using fiber reinforcements. The maximum size for Al-MMCs produced by the company is approximately 1m x 2m x 20cm.
CPS Technologies Corp. serves a diverse range of industries, including transportation, automotive, energy, computing/Internet, telecommunications, aerospace, defense, and oil and gas. Their primary material solution, metal matrix composites (MMCs), is a combination of metal and ceramic materials that enhances the performance and reliability of systems in these end markets. The company is involved in the design, manufacturing, and sale of custom MMC components, and also provides baseplates and housings used in radar, satellite, and avionics applications, as well as lids and heat spreaders for integrated circuits in Internet switches and routers.
Recently, CPS Technologies has focused on high-performance energy management components that support the transition to clean energy. Their products and intellectual property are integral to electric trains and subway cars, wind turbines, hybrid and electric vehicles, the smart electric grid, 5G infrastructure, and more. Additionally, CPS Technologies' hermetic packages are essential in numerous aerospace and satellite applications, while their armor products offer exceptional durability and light weight for ballistic protection.
The company has maintained strong financial health and remains on track for a record year, with revenue reaching $6.3 million. CPS Technologies continues to innovate and support its customers in building solutions for cleaner energy and advanced technological applications. For more information, visit the company’s website.
CPS Technologies (NASDAQ:CPSH) has appointed I. James Cavoli to its Board of Directors. Cavoli currently serves as president of Swagelok Company, where he grew the company's market cap by 75% during his tenure. He previously held positions as chief operating officer and vice president at Swagelok, and has extensive experience including roles at Ford Motor Company, Progressive Insurance, and service as a U.S. Army captain.
Cavoli brings expertise in strategy, transformation, growth, and international business, with functional experience in operations, finance, and marketing. Chairman Frank Hughes highlighted that attracting someone of Cavoli's caliber demonstrates CPS's culture of innovation and future growth potential.
CPS Technologies Corp (NASDAQ:CPSH) has announced its participation in the upcoming Investor Summit Microcap Virtual Conference on November 21, 2024. The company will deliver a presentation from 4:00pm to 4:30pm ET and will be available for one-on-one meetings throughout the day.
CPS is a technology and manufacturing leader specializing in high-performance materials solutions. Their products serve critical needs in various applications including electric trains, wind turbines, electric vehicles, Navy ships, 5G infrastructure, and more. The company's portfolio includes hermetic packages for aerospace applications and lightweight armor products offering superior ballistic protection.
CPS Technologies (NASDAQ:CPSH) has secured a $12 million contract from a major multinational semiconductor customer for power module components. The components will be used in high-speed rail, wind turbines, and EV/HEV applications. Deliveries are scheduled over twelve months starting October 2024, representing a significant volume increase compared to the previous four quarters. The agreement, while cancelable by either party, allows for ongoing discussions about future volume and pricing requirements while meeting current production needs.
CPS Technologies (NASDAQ:CPSH) reported Q3 2024 financial results with revenue of $4.2 million, down from $6.3 million in Q3 2023. The company posted a gross margin of -12% compared to 20% in the prior year, and an operating loss of $1.5 million versus a $0.1 million profit. The decline was primarily due to the end of the HybridTech Armor® contract and reduced manufacturing efficiencies. However, CPS secured new contracts including a $12 million award from a semiconductor customer and a $1.1 million Phase II contract from the U.S. Department of Energy. The company expects improved performance in Q4 2024 with its new third shift operations and a book-to-bill ratio of 1.22.
CPS Technologies Corp (Nasdaq:CPSH) has announced its third quarter 2024 investor conference call, scheduled for Thursday October 31, 2024 at 9:00 A.M. (Eastern). Brian Mackey, President and CEO, and Chuck Griffith, Chief Financial Officer, will discuss the company's financial results for the quarter ended September 28, 2024.
CPS is a technology and manufacturing leader specializing in high-performance energy management components for the electrification economy. Their product portfolio includes critical components for electric trains, subway cars, wind turbines, hybrid and electric vehicles, smart electric grid, and 5G infrastructure. The company also produces hermetic packages for Aerospace and Satellite applications, as well as lightweight armor products offering exceptional ballistic protection.
CPS Technologies (NASDAQ:CPSH) has been awarded a $1.1 million Phase II SBIR contract from the U.S. Department of Energy. The 24-month project focuses on developing 'Modular Radiation Shielding for Transportation and Use of Microreactors'. This is CPS's second Phase II SBIR award in 2024, bringing their total SBIR funding to over $3 million in recent years.
The project, led by materials scientist Matthew Karnick, builds on the successful Phase I results, where CPS developed lightweight, modular shielding effective against gamma and neutron radiation. Phase II aims to optimize materials and scale manufacturing processes for commercialization. CPS filed a provisional patent in July 2024 for novel designs developed during Phase I.
CPS Technologies (NASDAQ:CPSH) reported financial results for Q2 2024 ended June 29, 2024. Key highlights include:
- Revenue decreased to $5.0 million from $7.4 million in Q2 2023, due to the completion of the HybridTech Armor® contract with Kinetic Protection for the US Navy.
- Gross margin declined to (4.6)% from 29.6% in Q2 2023, reflecting lower manufacturing efficiencies and fixed costs impact on reduced revenue.
- Operating loss of $1.3 million compared to an operating profit of $0.7 million in Q2 2023.
- Net loss of $1.0 million, or $(0.07) per diluted share, versus net income of $0.6 million, or $0.04 per diluted share, in Q2 2023.
The company secured a new SBIR Phase II contract valued at over $1 million from the U.S. Navy Air Systems Command for developing metal matrix composites for thermal energy storage applications.
CPS Technologies Corp. (Nasdaq:CPSH) has announced its second quarter 2024 investor conference call, scheduled for Thursday, August 1, 2024, at 9:00 A.M. (Eastern). Brian Mackey, President and CEO, and Chuck Griffith, CFO, will discuss the company's financial results for the quarter ended June 29, 2024.
CPS is a leader in producing high-performance energy management components for various applications, including electric trains, wind turbines, electric vehicles, and 5G infrastructure. The company also manufactures hermetic packages for aerospace and satellite applications, as well as lightweight armor products.
Interested participants can join the conference call by dialing 1-844-943-2942 with the passcode 467630. For investor relations inquiries, contact Chris Witty at 646-438-9385 or cwitty@darrowir.com.
CPS Technologies (NASDAQ: CPSH) has secured a Phase II SBIR contract from the U.S. Navy Air Systems Command (NAVAIR) worth over $1 million for a 30-month period. The project aims to advance the development of novel metal matrix composites (MMCs) for thermal energy storage, important for the Advanced Anti-Radiation Guided Missile - Extended Range (AARGM-ER) program.
During Phase I, CPS demonstrated the efficacy of aluminum and phase-change materials, including nickel titanium (nitinol), for compact thermal energy storage devices. The University of North Texas will act as a subcontractor in Phase II. Successful completion will enable CPS to apply these composites in aerospace, defense, and automotive sectors.
CEO Brian Mackey noted that the award underscores CPS' commitment to the SBIR/STTR programs and its long-term growth strategy.
CPS Technologies will participate in the Sidoti Microcap Virtual Conference on May 8 and 9, 2024. Management will present at 9:15 a.m. Eastern on May 8, with one-on-one calls available. CPS is a leader in high-performance materials for various applications like electric vehicles, wind turbines, and ballistic protection.
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