CPS Technologies Corp. - CPSH STOCK NEWS

CPS Technologies Corporation (NASDAQ: CPSH) announced the appointment of Michael E. McCormack II as Chief Operating Officer, effective January 4, 2021. CEO Grant Bennett highlighted McCormack's experience in accelerating growth and product commercialization, aligning with CPS's strategic goals. McCormack's previous roles include Executive VP at AirBoss Defense Group and leadership positions at Mission Solutions Group and General Dynamics. He holds a BS in Engineering from West Point and additional master’s degrees. CPS specializes in metal-matrix composites for various industries, including defense and transportation.

CPS Technologies Corporation (NASDAQ: CPSH) reported revenues of $4.5 million with an operating profit of $253 thousand for Q3 2020, improving from a $4.4 million revenue and an operating loss of $479 thousand in Q3 2019.

For the nine months ending September 2020, revenues reached $16.7 million and operating profit was $1.2 million, compared to $16.0 million in revenues and an operating loss of $966 thousand in the prior year. The company faced challenges due to the pandemic and supplier disruptions but reported improved gross margins and operating profits.

CPS Technologies Corporation (Nasdaq:CPSH) announced plans for its quarterly investor conference call on October 28, 2020, at 4:45 PM Eastern. CEO Grant Bennett and CFO Chuck Griffith will present the financial results for the three and nine months ending September 26, 2020. Investors can join the call by dialing 1-833-953-1394 and entering Conference ID: 6798808. CPS is renowned for producing metal-matrix composite components enhancing the performance of various electrical systems, including applications in hybrid vehicles and high-speed trains.

CPS Technologies Corporation (Nasdaq: CPSH) has welcomed William "Bill" Holmes as Senior Applications Engineer. With over 30 years of experience in design and process engineering, Holmes focuses on hybrid microelectronics for defense and commercial sectors. VP Charles DaRosa emphasized Holmes' expertise in product development and manufacturing, while CEO Grant Bennett highlighted his technical skills and interpersonal abilities. CPS Technologies specializes in metal matrix composites and serves various industries, including electric vehicles and high-speed trains, enhancing performance and reliability in electrical systems.

CPS Technologies Corporation (Nasdaq: CPSH) celebrates NASA's successful launch of the Mars 2020 Mission Perseverance Rover, highlighting its role in producing the AlSiC hermetic housing for the turret power supply of the SHERLOC instrument. AlSiC, a lightweight metal-matrix composite combining aluminum and silicon carbide, enhances reliability and performance in various applications due to its superior thermal properties. CPS has also supplied AlSiC components for the International Space Station and GPS III satellites, reinforcing its commitment to innovation in aerospace and electronic systems.

CPS Technologies Corporation (NASDAQ: CPSH) reported $5.8 million in revenues and an operating profit of $331 thousand for Q2 2020, down from $6.4 million and $258 thousand in Q2 2019. For the first half of 2020, revenues reached $12.3 million with an operating profit of $952 thousand, improving from $11.6 million and an operating loss of $486 thousand in H1 2019. CEO Grant Bennett noted a demand decrease due to a major customer's inventory adjustments related to the coronavirus pandemic but highlighted strong gross margins and operational improvements.

CPS Technologies Corporation (Nasdaq:CPSH) has announced its quarterly investor conference call set for July 29, 2020, at 4:45 P.M. (Eastern). During this call, President and CEO Grant Bennett and CFO Chuck Griffith will discuss the financial results for the three and six months ending June 27, 2020. Participants can join by dialing 1-833-953-1394 and using Conference ID: 6958894. CPS is a leader in metal-matrix composite components, enhancing performance in electric vehicles, public transportation, and high-performance computing.

CPS Technologies Corporation (CPSH) announced an amendment to its credit facility with The Massachusetts Business Development Corporation, increasing the borrowing limit from $2.5 million to $3.0 million. CFO Chuck Griffith stated this increase provides flexibility for expected growth and additional security amid the uncertainties of the COVID-19 pandemic. Although CPSH does not plan to use the extra funds immediately, the amendment reflects a strong partnership with the financial institution, anticipating ongoing support for capital needs.

CPS Technologies Corporation (NASDAQ:CPSH) reported revenues of $6.5 million and an operating profit of $622 thousand for the quarter ending March 28, 2020, a notable increase from $5.3 million in revenues and an operating loss of $744 thousand during the same period in 2019. President Grant Bennett highlighted ongoing new contracts with major customers that are expected to drive performance through 2020. Despite challenges posed by coronavirus, demand remains robust, although some delays are anticipated. The company has implemented measures to ensure safe operations.