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 has appointed Dorith Hakim as its new Chief Executive Officer, President, and director, effective immediately. Ms. Hakim comes with extensive experience from her previous role as Group Vice President at Parker Hannifin Aerospace, overseeing $1.9 billion in spending across multiple divisions. She has held significant positions at Triumph Group and Sikorsky Aircraft. Her background in operations, supply chain management, and customer relations is expected to positively influence CVU as the company continues to serve national security markets.
CPI Aerostructures (CVU) announced a purchase order from Collins Aerospace for the manufacturing of the Tactical Synthetic Aperture Radar (TacSAR) system. This award follows a previous contract where CPI Aero developed necessary documentation for the TacSAR pod. The new contract focuses on completing non-recurring engineering and tool development to build a prototype pod for testing. CPI Aero emphasizes its strategic evolution beyond aircraft structures, further solidifying its role as a crucial supplier in advanced aerospace systems.
CPI Aerostructures (CVU) has secured a long-term contract with Raytheon Intelligence & Space worth up to $20 million to provide rack assemblies for the B-52 AESA radar, an integral part of the U.S. Air Force's modernization program. The initial order is valued at $4 million for prototype and test production, with work commencing immediately and first deliveries expected by late 2022. This award enhances CPI Aero's relationship with a key client, showcasing its reliability in defense manufacturing.
CPI Aerostructures (CVU) announced a new purchase order valued at approximately $1.9 million for welded structural assemblies from a current customer. These components will be used on a U.S. military helicopter and are expected to be delivered within 2022. CPI Aero specializes in manufacturing structural assemblies for fixed-wing aircraft, helicopters, and airborne systems, serving both commercial and national security markets. The company acts as a Tier 1 supplier and a prime contractor for the U.S. Department of Defense.
CPI Aerostructures (NYSE American: CVU) announced that its CEO, Douglas McCrosson, has been appointed to the Aerospace Industries Association's Board of Governors for 2022. AIA represents the American aerospace and defense sector, advocating for industry interests. McCrosson's appointment signals CPI Aero's involvement in key discussions affecting the industry. The AIA includes over 340 companies from various aerospace sectors, facilitating collaboration on crucial issues for members' success.
CPI Aerostructures (CVU) reported significant financial growth for Q1 2021, with revenue reaching $30.8 million, a 83% increase from Q1 2020's $16.9 million. The gross profit surged to $4.9 million with a gross margin of 16%, compared to 0.9% last year. The company achieved a net income of $1.2 million, reversing a $3.4 million loss in the previous year. Funded backlog stood at $162.7 million, predominantly from defense contracts. CPI expects revenue to exceed $100 million for 2021, driven by robust military demand and effective cost management strategies.
CPI Aerostructures, Inc. (CVU) will release its financial results for the fiscal first quarter ending March 31, 2021, on December 27, 2021, before market opening. The company specializes in manufacturing structural assemblies for various aerospace applications and serves both commercial and national security markets as a key supplier or subcontractor. CPI Aero is also a prime contractor for the U.S. Department of Defense. The announcement highlights the company's ongoing role in the aerostructure supply chain and its presence in the Russell Microcap® Index.
CPI Aerostructures (CVU) reported estimated financial results for H1 2021, indicating significant improvements over H1 2020. Revenue surged to an estimated $50-$53 million, up from $36.6 million. Gross profit rose to $8.3-$8.6 million, compared to $2.0 million prior. The company achieved net income of $1.5-$1.9 million, reversing a net loss of $(4.7) million. Despite a 50% revenue drop in commercial aviation, military contract revenue nearly doubled. Estimated backlog decreased to $156 million from $205 million year-over-year. The company expects total revenue for 2021 to exceed $100 million.
CPI Aerostructures filed a Comprehensive Form 10-K/A for the years ended December 31, 2020, and 2019, including restated audited financial statements. The company aims to enhance its finance and accounting operations, focusing on delivering high performance consistent with its reputation in the aerospace industry. The financial statements for the first three quarters of 2021 are currently being prepared. CPI Aero is a manufacturer of structural assemblies for aircraft and is a prime contractor to the U.S. Department of Defense.
CPI Aerostructures, Inc. (CVU) announced on November 23, 2021, that the NYSE American accepted its plan to regain compliance with listing standards. The company has until April 14, 2022, to meet the timely filing criteria, with a potential extension to May 24, 2022. Failure to comply may lead to delisting proceedings. Despite the notice, CPI Aero's stock remains listed during the plan period. CPI Aero manufactures structural assemblies for aircraft and is a prime contractor for the U.S. Department of Defense.
