CPS Technologies Corp. - CPSH STOCK NEWS

CPS Technologies Corporation (NASDAQ:CPSH) announced the retirement of Grant Bennett as president and CEO effective July 1, 2021, after 29 years in the role. Michael McCormack, previously COO, will succeed him. Chairman Francis Hughes praised Bennett's long service and leadership. Bennett expressed confidence in McCormack's abilities to lead CPS into a new chapter, highlighting the company's innovation in metal-matrix composite technology. CPS specializes in high-performance energy management components for electrification and defense applications.

CPS Technologies Corporation (NASDAQ:CPSH) has made available a recording of its April 29, 2021, Investor Call on its website. Key discussion points include Grant Bennett's introductory remarks and Chuck Griffith's financial results review. New developments were highlighted across primary markets including power modules and aerospace. The company discussed its product pipeline and core competency in adjacent technical spaces. The investor Q&A section shed light on electric charging stations and equity raises. A full replay of the webcast can be accessed via the Investor Call Transcripts link on the company's investor page.

CPS Technologies Corporation (NASDAQ:CPSH) reported first-quarter revenues of $4.9 million with an operating profit of $36 thousand, down from $6.5 million and $622 thousand a year earlier. Despite lower year-over-year revenues, the company noted a 17% increase in revenues compared to the fourth quarter of 2020. Demand for hermetic packaging products in the aerospace and defense sectors is increasing, although the AlSiC baseplate business remains sluggish. CPS anticipates continued improvement in demand as the pandemic's effects lessen, with optimism for 2021 performance.

CPS Technologies Corporation (CPSH) announced its quarterly investor conference call scheduled for April 29, 2021, at 4:45 PM Eastern Time. During the call, President Grant Bennett and CFO Chuck Griffith will discuss financial results for the quarter ending March 27, 2021. Interested participants can join by calling 1-833-953-1394 with the Conference ID: 4584929. CPS specializes in high-performance energy management components, supporting the electrification of various sectors including electric vehicles and renewable energy.

CPS Technologies Corporation (NASDAQ:CPSH) has appointed Dr. Stephen Kachur as a Senior Scientist in Product Development, enhancing its product pipeline. CEO Grant Bennett emphasized the robustness of their product pipeline and the goal to accelerate product movement and development. Dr. Kachur brings extensive experience from Physical Sciences Inc. and Westinghouse Electric Company, having worked on advanced composite structures and nuclear reactor materials. CPS focuses on high-performance energy management components and aims to support electrification across various sectors.

CPS Technologies Corporation (NASDAQ:CPSH) has scheduled its Annual Meeting of Stockholders for April 23, 2021, at 10:00 AM at its Norton, MA office. The meeting will be in-person with social distancing measures. Shareholders can also participate via a conference call. To ensure compliance with Massachusetts gathering limits due to COVID-19, shareholders are asked to notify the company in advance if they plan to attend. The meeting will include a Q&A session accessible to those on the call.

CPS Technologies Corporation (CPSH) has successfully completed and shipped parts for the MethaneSAT satellite program, designed to detect methane emissions with enhanced sensitivity and spatial resolution.

This satellite aims to significantly reduce methane release, a gas that is more potent than carbon dioxide. CPS is collaborating with Ball Aerospace, leveraging its AlSiC composite materials, which offer superior performance in space applications. The company believes AlSiC will increasingly find applications in aerospace, building on its presence in notable projects like the Mars 2020 rover and GPS III satellites.

CPS Technologies Corporation (NASDAQ:CPSH) recently shared a recording of its February 24, 2021, Investor Call on its website. Key topics included financial results presented by Chuck Griffith and an overview of the company’s core competencies by Grant Bennett. The call covered CPSH's product pipeline, recent design wins, and primary markets, particularly in power modules and aerospace. Investor inquiries addressed plant capacity, recent armor orders, and potential equity raises. A replay of the call is available on their investor page, providing insights into CPSH's strategic vision and growth potential.

CPS Technologies Corporation (NASDAQ:CPSH) reported revenues of $20.9 million for the year ended December 26, 2020, a slight decrease from $21.5 million in 2019. Operating profit saw a significant improvement, reaching $914 thousand, compared to an operating loss of $597 thousand the previous year. The fourth quarter revenue was $4.2 million with an operating loss, down from $5.4 million in Q4 2019. The company noted shifts in customer demand due to Covid-19 and is optimistic about future product development and market sectors.