Techprecision Corporation - TPCS STOCK NEWS

TechPrecision Corporation announced the retirement of their Chief Financial Officer, Thomas Sammons, effective July 14, 2023. Barbara 'Bobbie' M. Lilley, the current Controller of the Company, will succeed Mr. Sammons as the new CFO. Lilley has extensive experience in finance and has integrated well with the management team. TechPrecision's CEO expressed confidence in Lilley's ability to contribute to the company's growth and operational improvements.

TechPrecision Corporation's shares of common stock have been approved for listing on The Nasdaq Capital Market. Trading on the exchange will commence on May 5, 2023. This uplisting marks a significant milestone for the company and is expected to raise its visibility and increase liquidity for investors.

TechPrecision Corporation (OTCQB:TPCS), a manufacturer of precision, large-scale metal components, announced a 1-for-4 reverse stock split effective February 24, 2023. This decision was approved by stockholders on September 14, 2022, allowing the Board to determine the final ratio. Post-split, outstanding shares will decrease from approximately 34.4 million to 8.6 million. The aim of the reverse split is to facilitate the potential listing on the Nasdaq Capital Market. The company's ticker will temporarily change to TPCSD for 20 business days before reverting to TPCS. A reduction in authorized shares from 90 million to 50 million is also being enacted.

TechPrecision Corporation (OTCQB:TPCS) reported a robust financial performance for Q3 FY2023, with consolidated net sales of $8.3 million, a 28% increase compared to the previous year. The Ranor segment led this growth with net sales of $4.7 million and gross profit of $1.7 million. The overall gross profit rose to $1.5 million, while operating income improved to $0.3 million from a loss of $1.1 million in Q3 FY2022. TechPrecision's strong backlog stood at $43.9 million as of December 31, 2022. The company is also pursuing a NASDAQ uplist, pending approval on its applications.

TechPrecision Corporation (OTCQB:TPCS) announced it will release its financial results for the fiscal 2023 third quarter on February 14, 2023. A conference call will follow at 4:30 PM EST, where participants can dial 1-888-506-0062 (or 1-973-528-0011 for international callers) to join. The call can also be accessed via the Internet. A replay will be available until February 28, 2023. TechPrecision is recognized for manufacturing large-scale, precision metal components for sectors including defense, aerospace, and medical, aiming to provide customized end-to-end solutions.

TechPrecision Corporation (OTCQB:TPCS) will release its financial results for the 2023 fiscal second quarter on November 17, 2022. The Company manufactures precision, large-scale fabricated and machined metal components for sectors including defense and precision industrial.

A conference call is scheduled for 4:30 p.m. Eastern on the same day, with access available via phone or the Internet. A replay of the call will be accessible until December 1, 2022.

TechPrecision Corporation (OTCQB:TPCS) reported its financial results for the first quarter of fiscal year 2023, ending June 30, 2022. Net sales surged 107% year-over-year, reaching $7.1 million, predominantly driven by $2.4 million from the Stadco subsidiary and $1.3 million increase at Ranor. Despite higher sales, the company faced challenges with an operating loss of $0.6 million versus a profit of $0.1 million last year. Cash and cash equivalents fell to $0.6 million. The backlog has grown to $45.9 million, indicating future revenue potential.

TechPrecision Corporation (OTCQB:TPCS) announced its preliminary financial results for the first quarter of fiscal 2023, reporting net sales of $7.1 million, with a pre-tax loss of $675,000. The Ranor subsidiary generated pre-tax income of $1.0 million from net sales of $4.7 million, while Stadco reported a pre-tax loss of $1.5 million on net sales of $2.4 million. Despite challenges, the company's backlog remains strong at $45.9 million. A conference call is scheduled for August 22, 2022, to discuss these results.

TechPrecision Corporation (OTCQB:TPCS) reported a strong fiscal 2022 with net sales of $22.3 million, a 43% increase from fiscal 2021. The growth was bolstered by the $7.8 million contribution from the Stadco subsidiary acquired in August 2021, despite a $1 million decline in sales from Ranor. The backlog has significantly increased to $47.3 million. However, the company experienced an operating loss of $1.6 million compared to a profit of $623,000 in the previous year. Interest expenses rose due to new debt.