Welcome to our dedicated page for Cpi Aerostruct news (Ticker: CVU), a resource for investors and traders seeking the latest updates and insights on Cpi Aerostruct stock.
CPI Aerostructures Inc (CVU) is a leading manufacturer of structural aircraft components for commercial and defense markets. This news hub provides investors with essential updates on corporate developments, including contract awards, financial results, and strategic initiatives shaping the aerospace sector.
Access timely press releases and analysis covering CVU's engineering advancements, defense program participation, and supply chain partnerships. Our curated collection helps stakeholders monitor regulatory filings, production milestones, and market positioning within the competitive aerostructures industry.
Key focus areas include Department of Defense contracts, OEM collaboration updates, manufacturing capacity expansions, and maintenance/service agreements. Bookmark this page for direct access to SEC filings, earnings call details, and operational announcements from this critical aerospace supplier.
CPI Aerostructures (CVU) has secured $1.3 million in follow-on orders for complex welded structural assemblies, intended for a U.S. military helicopter. These orders come from an existing customer and are scheduled for delivery through mid-2025.
CEO Dorith Hakim noted the company's longstanding role in providing critical components for both fixed and rotary wing aircraft for the U.S. Defense and Allied Forces. The follow-on contract continues CPI Aero's support for military operations.
CPI Aero manufactures structural assemblies for aircraft and airborne systems in the commercial aerospace and national security markets, serving as a Tier 1 or Tier 2 supplier and a prime contractor for the U.S. Department of Defense, primarily the Air Force.
CPI Aerostructures (NYSE American: CVU) reported its financial results for Q1 2024, ending March 31, 2024. Revenue decreased by 13% to $19.1 million compared to $22.0 million in Q1 2023. Gross profit was $3.6 million, down from $4.7 million, leading to a reduced gross profit margin of 18.6%. Net income fell to $0.2 million from $1.0 million, translating to earnings per share (EPS) of $0.01, down from $0.08. Cash flow from operations was negative at ($1.0) million, compared to a positive $0.9 million in Q1 2023. On a positive note, debt was reduced to $19.1 million from $22.1 million year-over-year. CEO Dorith Hakim highlighted the completion of key deliveries for Raytheon's NGJ Mid Band Pods LRIP 2 and the anticipation of resumed deliveries in the second half of the year, alongside a strong backlog of $510 million.
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