Techprecision Corporation - TPCS STOCK NEWS

TechPrecision Corporation (OTCQB:TPCS) reported a strong fiscal Q3 2022, with backlog increasing by 33% to $35.2 million and net sales soaring 82% to $6.5 million.

However, gross profit declined to $478,000 primarily due to an unfavorable production mix, leading to an operating loss of $1.1 million. SG&A expenses surged by $908,000 due to the Stadco acquisition. Despite a net loss of $905,000, management is optimistic about future revenue and margin improvement.

TechPrecision Corporation (OTCQB:TPCS) will release its financial results for the 2022 fiscal third quarter on February 17, 2022. A conference call will be held at 4:30 p.m. ET on the same day, where participants can join by dialing 1-888-506-0062 (international: 1-973-528-0011). A replay of the call will be available until March 3, 2022. TechPrecision manufactures precision, large-scale metal components for the defense and industrial sectors.

TechPrecision Corporation (OTCQB:TPCS) reported its Fiscal 2022 second-quarter results, showing net sales of $4.8 million, a 2% increase from the prior year. However, gross profit fell by 18% to $0.9 million due to integration costs from the acquisition of STADCO. The company recorded a net loss of $220,000, contrasting with a net income of $271,000 last year. Despite challenges, the sales order backlog reached $26.4 million. TechPrecision anticipates higher revenues in future quarters as integration progresses.

TechPrecision Corporation (OTCQB:TPCS) has announced the rescheduling of its fiscal 2022 second quarter earnings release and conference call. Originally set for November 22, 2021, it will now take place on December 7, 2021, after market close. The delay is due to the additional time needed to finalize financial statements following the acquisition of Stadco on August 25, 2021. The conference call will occur at 4:30 p.m. Eastern, with dial-in instructions provided for participants.

TechPrecision Corporation (OTCQB:TPCS) announced it will release its 2022 fiscal second quarter financial results on November 22, 2021. A conference call is scheduled for 4:30 p.m. Eastern Time on the same day, providing investors and analysts the opportunity to learn about the company's financial performance and outlook. Participants can join the call by dialing the provided numbers. The call will also be accessible via the internet. TechPrecision manufactures precision metal components for various sectors, including defense and aerospace.

TechPrecision Corporation (OTCQB:TPCS) will host a conference call on September 29, 2021, at 4 p.m. ET to discuss its recent acquisition of STADCO, a supplier of large flight-critical components for military and commercial applications. This acquisition aims to strengthen TechPrecision's position in the defense and aerospace markets. Participants can access the call via phone or listen to a webcast. A replay will be available until October 13, 2021.

TechPrecision Corporation (OTCQB:TPCS) has successfully acquired Stadco, a manufacturer of large flight-critical components, for a total consideration involving $3.2 million raised through a private placement and $7.9 million in additional financing. The acquisition is aimed at revitalizing Stadco's operations, which have struggled since previous management. TechPrecision's strategy includes turning around Stadco's contracts and improving financial health. Key terms include issuing shares for debt and a favorable closing with Berkshire Bank for future financial flexibility.

TechPrecision Corporation (OTCQB:TPCS) reported its Fiscal 2022 Q1 results, highlighting a 4% increase in net sales to $3.4 million compared to the prior year. The gross profit rose by 20% to $0.8 million, attributed to a favorable project mix and reduced overhead costs. Operating income improved to $100,000 from a loss of $96,000 last year. The company also benefitted from a $1.3 million gain from PPP loan forgiveness. As of June 30, 2021, cash and cash equivalents stood at $2.2 million, and working capital increased to $5.5 million.

TechPrecision Corporation (OTCQB:TPCS) will release its financial results for the fiscal 2022 first quarter on August 12, 2021. A conference call is scheduled for 4:30 p.m. Eastern that day, with dial-in details for both domestic and international callers. The call will also be available online. TechPrecision, through its subsidiary Ranor, Inc., specializes in manufacturing precision, large-scale fabricated metal components for sectors such as defense, aerospace, and medical. For additional information, visit TechPrecision's website.