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About CPS Technologies Corporation
CPS Technologies Corporation (NASDAQ: CPSH) is a pioneering company in the field of advanced materials, specializing in the development and manufacturing of aluminum metal matrix composites (Al-MMCs) and related technologies. With over two decades of expertise, CPS has established itself as a key supplier of high-performance components designed to meet the demanding requirements of industries such as electronics, defense, renewable energy, transportation, and aerospace.
Core Business Areas
At its core, CPS focuses on the production of innovative materials that address critical challenges in thermal management, structural integrity, and lightweight design. The company's flagship product line includes AlSiC (aluminum silicon carbide) metal matrix composites, which are widely recognized for their exceptional thermal conductivity, low weight, and mechanical strength. These materials are essential for applications in electronic devices, electric vehicles, and renewable energy systems, where efficient heat dissipation is crucial.
In addition to AlSiC, CPS leverages its expertise in syntactic materials, which combine ceramic hollow shell reinforcements with aluminum matrices to achieve ultra-lightweight and stiff structures. These advanced materials are further enhanced with fiber reinforcements, enabling the creation of unique hybrid solutions tailored to specific customer needs.
Specialized Product Offerings
CPS Technologies also produces HybridTech Armor®, a proprietary solution that encapsulates ceramic tiles within Al-MMCs to deliver superior ballistic protection and environmental durability. This product is particularly valuable for defense applications, offering lightweight yet robust protection for personnel and equipment.
Beyond armor, CPS manufactures structural components that integrate fiber reinforcements for use in aerospace and satellite systems, where weight reduction and mechanical performance are paramount. The company's hermetic packages are another critical offering, providing reliable protection for sensitive electronic components in harsh environments.
Market Applications
CPS's advanced materials are integral to a wide range of industries and applications, including:
- Electronics: Thermal management solutions for high-power devices and 5G infrastructure.
- Transportation: Lightweight components for hybrid and electric vehicles, as well as electric trains and subway cars.
- Renewable Energy: Components for wind turbines and smart grid systems.
- Defense: Ballistic protection and radiation shielding materials for military applications.
- Aerospace: Structural components for satellites and other aerospace systems.
Innovation and Research
CPS is deeply committed to innovation, as evidenced by its participation in Small Business Innovation Research (SBIR) programs. These research initiatives enable the company to explore new material technologies, such as radiation shielding solutions and advanced manufacturing techniques like binder jet additive manufacturing. By leveraging its existing manufacturing capabilities, CPS continues to expand its product portfolio to address emerging market needs.
Competitive Position
Operating at the intersection of materials science and high-performance engineering, CPS differentiates itself through its specialized expertise in Al-MMCs and related technologies. Its ability to deliver customized solutions for complex applications sets it apart from competitors in the advanced materials sector. Moreover, the company's long-standing relationships with key customers and its track record of successful research collaborations underscore its reputation as a trusted partner in innovation.
Conclusion
CPS Technologies Corporation is a versatile and innovative player in the advanced materials industry. By focusing on high-performance Al-MMCs and related technologies, the company addresses critical challenges across multiple sectors, from electronics and transportation to defense and renewable energy. Its commitment to technical excellence and customer-centric solutions positions CPS as a valuable contributor to the ongoing transformation of these industries.
CPS Technologies Corporation (NASDAQ:CPSH) announced the resignation of Michael McCormack as president and CEO, effective April 21, 2023. Under McCormack's leadership since July 2021, the company achieved record revenues and operating income, significantly strengthening its product development team. The Board appointed Charles Griffith, the current CFO since 2019, as acting president while a search for a new CEO is conducted. Griffith expressed confidence in continuing momentum, anticipating another record year for 2023. CPS specializes in high-performance energy management components for various applications, including electric vehicles and aerospace.
CPS Technologies Corporation (NASDAQ:CPSH) has secured a Phase I Small Business Innovative Research (SBIR) contract from the U.S. Army to develop lightweight, reconfigurable flooring for the UH-60 fleet. The project involves creating a Ballistic Armor Protection System (BAPS) utilizing their HybridTech Armor® Metal Matrix Composite (MMC) technology, focusing on reducing aircraft weight while enhancing mission flexibility. The contract, valued at $250,000, will span six months. CPS has won four Phase I SBIR contracts in the last year, underscoring its commitment to advanced material solutions in defense and energy sectors.
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.
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