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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 Corporation (NASDAQ:CPSH) announced securing $5.0M in purchase orders for hermetic packages from a leading aerospace electronics manufacturer. This order supports U.S. space missions and high-volume tactical programs, marking nearly 100% increase over FY22 sales for this customer. CPS specializes in Class-H and Class-K hermetic packaging, delivering significant weight savings (about 50%) using Aluminum Silicon Carbide (AlSiC) technology. This technology enhances reliability in harsh environments, evidenced by its use in NASA's SHERLOC instrument on Mars. CPS aims for growth in the aerospace and defense market, reflecting on a record-setting 2022.
CPS Technologies Corporation (NASDAQ:CPSH) reported revenues of $6.1 million and an operating profit of $309 thousand for Q4 2022, slightly down from $6.2 million in Q4 2021. For the full year 2022, revenues reached a record $26.6 million, a 19% increase from 2021, with an operating profit of $2.2 million compared to $513 thousand in 2021. Gross margins improved to over 27%, up by 6%. President Michael McCormack emphasized the strategic initiatives driving growth and expected continued strong performance in 2023, supported by diversification in products and customer base.
CPS Technologies Corp. (Nasdaq:CPSH) announced its year-end 2022 investor conference call scheduled for March 7, 2023, at 4:30 PM Eastern. During the call, President and CEO Michael McCormack and CFO Chuck Griffith will discuss the company's financial results for the fiscal year ending December 31, 2022. Interested participants can join by dialing 1-844-943-2942 and using the passcode 693433. CPS operates in high-performance energy management components crucial for various sectors, including electric vehicles and aerospace, emphasizing innovation and customer support.
CPS Technologies Corporation (NASDAQ:CPSH) reported $6.7 million in revenues for Q3 2022, a 22% increase from Q3 2021. The company achieved an operating profit of $709,000, a significant turnaround from the $88,000 loss in the previous year. Year-to-date operating profit is $1.9 million, up 858% from $201,000 in 2021. Despite inflation and supply chain challenges, CPSH has maintained operational efficiencies. The company remains optimistic about growth initiatives and strategic initiatives, highlighted by a record HybridTech Armor® order.
CPS Technologies Corp. (Nasdaq:CPSH) announced details for its Q3 2022 investor conference call scheduled for November 2, 2022, at 4:30 P.M. Eastern. The call will feature Michael McCormack, President and CEO, and Chuck Griffith, CFO, who will present the company’s financial results for the quarter ending October 1, 2022.
Interested participants can join by calling 1-844-943-2942 with the passcode 274639.
CPS Technologies Corporation (NASDAQ:CPSH) announced a follow-on purchase order valued at $8.8 million for its HybridTech Armor® panels from Kinetic Protection, marking the largest single order in the company's 38-year history. This armor is essential for ballistic protection systems on U.S. Navy ships, enhancing crew safety. The technology is lightweight and durable under extreme maritime conditions. CPS is optimistic about expanding its armor opportunities domestically and internationally, supporting modernization initiatives within the Department of Defense.
CPS Technologies Corporation (NASDAQ:CPSH) reported record revenues of $7.1 million and an operating profit of $669 thousand for Q2 2022, a 21% increase compared to Q2 2021. The operating profit surged 164% from last year. Despite ongoing concerns such as inflation and supply chain issues, the company managed to maintain operational efficiency. CPS is optimistic about future growth through product development initiatives and has secured two contracts under the SBIR and STTR programs with the Army and Navy.
CPS Technologies Corp. (Nasdaq:CPSH) announced its second quarter 2022 investor conference call scheduled for August 5, 2022, at 9:00 A.M. (Eastern). During the call, President and CEO Michael McCormack, along with CFO Chuck Griffith, will discuss the company’s financial results for the quarter ending July 2, 2022. Interested participants can join by dialing 1-888-504-7949 with the passcode 840275. CPS specializes in high-performance energy management components and is a leader in providing solutions for electric mobility and aerospace applications.
CPS Technologies Corporation (NASDAQ:CPSH) has secured a $259,000 SBIR contract from the US Army to develop innovative thermal management solutions utilizing additive manufacturing and aluminum-silicon carbide (AlSiC) composites. This initiative aims to enhance electronic systems in Future Vertical Lift platforms, improving heat dissipation for various applications. The contract is set for six months, marking CPS's first SBIR award in over a decade. The company remains optimistic about future submissions, including a pending SBIR with the U.S. Navy for shipboard electronics.
CPS Technologies Corporation (NASDAQ:CPSH) reported record revenues of $6.7 million for Q1 2022, up 37% from $4.9 million in Q1 2021. The company achieved an operating profit of $547 thousand, surpassing the total operating profit for all of 2021. President and CEO Michael McCormack highlighted the company's successful growth initiatives and minimal impact from COVID-19 and the Ukraine conflict. CPS is optimistic about future growth, especially in new product development and has engaged with SBIR and STTR programs, securing two projects for the Army and Navy.
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