CPI Aerostructures Inc

CPI Aerostructures, Inc. engages in the manufacture of structural assemblies, integrated systems, and kitted components for the international aerospace and defense markets. Its products are used by customers in the production of fixed wing aircraft, helicopters, electronic warfare systems, intelligence, surveillance, and reconnaissance systems, missiles. The company was founded by Arthur August in 1980 and is headquartered in Edgewood, NY.

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Third Quarter 2024 vs. Third Quarter 2023 Revenue of $19.4 million compared to $20.4 million; Gross profit of $4.2 million compared to $3.7 million; Gross margin of 21.7% compared to 18.2%; Net income of $0.7 million compared to $0.3 million; Earnings per diluted share of $0.06 compared to $0.02; Adjusted EBITDA (1) of $1.7 million compared to $1.4 million; Cash flow provided by operating activities of $0.7 million compared to $0.0 million.

CPI Aerostructures Reports Third Quarter and Nine Month 2024 Results

Second Quarter 2024 vs. Second Quarter 2023 Revenue of $20.8 million compared to $20.5 million; Gross profit of $5.1 million compared to $4.6 million; Gross margin of 24.6% compared to 22.4%; Net income of $1.4 million compared to $1.2 million; Earnings per diluted share of $0.11 compared to $0.09; Adjusted EBITDA (1) of $2.6 million compared to $2.1 million; Cash flow used in operations of $(0.6) million compared to $0.0 million.

CPI Aerostructures Reports Second Quarter and Six Month 2024 Results

FARNBOROUGH, United Kingdom, July 22, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced today that it has signed a Long Term Agreement (“LTA”) with MST Manufacturing (“MST”) during the international air show in Farnborough, UK, for the supply of components in support of its aerostructures production. This LTA will cover CPI Aero's requirements from MST through the end of calendar year 2027.

CPI Aerostructures, Inc. and MST Manufacturing Sign Long Term Agreement

First Production Pod Structure Delivery of a planned 37 Pods for LRIP 3 Contract  First Production Pod Structure Delivery of a planned 37 Pods for LRIP 3 Contract

CPI Aerostructures, Inc. Delivers First Pod Structure of Latest Production Contract for Next Generation Jammer Mid-Band Program to Raytheon

EDGEWOOD, N.Y., June 20, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (NYSE American: CVU) (“CPI Aero” or “Company”), today announced a settlement with the Securities and Exchange Commission (the “SEC” or “Commission”) related to the Company's previously announced restatements of certain of its financial statements for fiscal periods between January 1, 2018 and December 31, 2022.

CPI Aerostructures, Inc. Announces Settlement with SEC

EDGEWOOD, N.Y., June 10, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero” or the “Company”) (NYSE American: CVU) announced that Embraer S.A. of Brazil (NYSE: ERJ) has placed several additional orders against a previously announced Long Term Agreement to manufacture engine inlet assemblies for the Embraer Phenom 300 business jets. These new orders will see deliveries continue through mid-2025.

CPI Aerostructures Receives $3.1M Order From Embraer for Engine Inlet Assemblies

EDGEWOOD, N.Y., June 05, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced that it has received follow-on orders for complex welded structural assemblies used on a U.S. military helicopter from a current customer valued at approximately $1.3 million. Deliveries are expected to occur through mid-2025.

CPI Aerostructures Receives $1.3 Million Follow-on Orders for Welded Assemblies

First Quarter 2024 vs. First Quarter 2023 Revenue of $19.1 million compared to $22.0 million; Gross profit of $3.6 million compared to $4.7 million; Gross profit margin of 18.6% compared to 21.2%; Net income of $0.2 million compared to $1.0 million; Earnings per share of $0.01 compared to $0.08; Cash flow used in operations of ($1.0) million compared to $0.9 million provided by cash flow from operations; Debt as of March 31, 2024 of $19.1 million compared to $22.1 million as of March 31, 2023.

CPI Aerostructures Reports First Quarter 2024 Results

Fourth Quarter 2023 vs. Fourth Quarter 2022 Revenue of $23.5 million compared to $24.1 million; Gross profit of $4.1 million compared to $3.9 million; Gross margin of 17.4% compared to 16.1%; Net income of $14.8 million compared to net income of $6.8 million; Earnings per share of $1.20 ($0.09 excluding the fourth quarter 2023 deferred tax asset valuation allowance reduction of $1.11) compared to earnings per share of $0.55 ($0.03 excluding the fourth quarter 2022 deferred tax asset valuation allowance reduction of $0.52); Cash flow from operations of $3.1 million compared to $0.1 million.

CPI Aerostructures Reports Fourth Quarter and Full Year 2023 Results

EDGEWOOD, N.Y., Nov. 21, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced that Embraer S.A. of Brazil (NYSE: ERJ) has placed several additional orders against a previously announced Long Term Agreement to manufacture engine inlet assemblies for the Embraer Phenom 300 business jets. These new orders will see deliveries continue into 2024.

CPI Aerostructures Receives $4.4M Orders from Embraer for Engine Inlet Assemblies

Third Quarter 2023 vs. Third Quarter 2022 Revenue of $20.4 million compared to $20.2 million; Gross profit of $3.7 million compared to $5.3 million; Gross margin of 18.2% compared to 26.4%; Net income of $0.3 million compared to $1.9 million; Earnings per diluted share of $0.02 compared to $0.15; Cash flow from operations of $0.0 million compared to $2.9 million.

CPI Aerostructures Reports Third Quarter and Nine Month 2023 Results

Increases Funded Orders under Previously Awarded Multi-year Contract to $48.3 million Increases Funded Orders under Previously Awarded Multi-year Contract to $48.3 million

CPI Aero Receives $9.6 Million Purchase Orders From U.S. Air Force for T-38 Aircraft Modification Kits

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EDGEWOOD, N.Y., Oct. 24, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that its Board of Directors has appointed Pamela D. Levesque to serve as an independent Class II Director. She was also appointed to the Board's Audit and Finance Committee.

CPI Aerostructures Appoints Aerospace Industry Executive Pamela Levesque to its Board of Directors

EDGEWOOD, N.Y., Oct. 12, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that it has delivered its first B-52 Radar Rack Structure to Raytheon, an RTX business under an IDIQ contract signed in late 2021 with a ceiling value of $20 million. Under this first phase of the IDIQ contract, CPI Aero is building and delivering 9 development units and 2 spares, along with completing the tooling and other non-recurring engineering efforts. Deliveries of the remaining rack structures will continue into 2024.

CPI Aero Delivers 1st B-52 Radar Rack Structure to RTX

- Receives Long Term Agreement not to exceed $34.4 million and Initial $10.4 Million Order - EDGEWOOD, N.Y., Aug. 28, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that it has been awarded a second multi-year contract by Lockheed Martin (NYSE: LMT) to manufacture structural assemblies for the most advanced F-16 ever produced – the F-16 Block 70/72.

CPI Aero Receives Second Multi-Year Contract and Funded Order for F-16 Aircraft Structures

Second Quarter 2023 vs. Second Quarter 2022 Revenue of $20.5 million compared to $18.9 million; Gross profit of $4.6 million compared to $3.7 million; Gross margin of 22.4% compared to 19.3%; Net income of $1.2 million compared to $0.5 million; Earnings per diluted share of $0.09 compared to $0.04; Cash flow from operations of $0.0 million compared to $0.3 million.

CPI Aerostructures Reports Second Quarter and Six Month 2023 Results

EDGEWOOD, N.Y., June 20, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero" or “Company”)) (NYSE American: CVU) announced that its Board of Directors has appointed Rick Rosenjack as a new independent member of the Board effective immediately. He was also appointed to the Board's Nominating and Corporate Governance Committee. As a result of this appointment, CPI Aero has filled one of its two vacant Class II director seats.

CPI Aerostructures Appoints Aerospace Industry Executive Rick Rosenjack to its Board of Directors

First Quarter 2023 vs. First Quarter 2022 Revenue of $22.0 million compared to $20.1 million; Gross profit of $4.7 million compared to $3.4 million; Gross profit margin of 21.2% compared to 17.1%; Net income of $1.0 million compared to net loss of $(32,931) (excluding a first quarter 2022 $0.8 million severance accrual, the first quarter of 2022 would have been net income of $0.8 million); Earnings per share of $0.08 compared to loss per share of $(0.00) (excluding a first quarter of 2022 $0.06 per share severance accrual, the first quarter of 2022 would have been $0.06 per share); Cash flow from operations of $0.9 million compared to a use of $(2.4) million; Debt as of March 31, 2023 of $22.1 million compared to $22.8 million as of December 31, 2022.

CPI Aerostructures Reports First Quarter 2023 Results

Production Order for pods and components valued at up to $32.6 Million Production Order for pods and components valued at up to $32.6 Million

CPI Aerostructures Awarded Follow-On Production Contract of Next Generation Jammer Mid-Band Program by Raytheon Technologies

EDGEWOOD, N.Y., April 19, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced that it has received follow-on orders for complex welded structural assemblies used on a U.S. military helicopter from a current customer valued at approximately $3.6 million. Deliveries are expected to occur through mid-2024.

CPI Aerostructures Receives $3.6 Million Follow-on Orders for Welded Assemblies

Fourth Quarter 2022 vs. Fourth Quarter 2021 Revenue of $24.1 million compared to $26.4 million; Gross profit of $3.9 million compared to $2.8 million; Gross margin of 16.1% compared to 10.8%; Net income of $6.8 million ($0.3 million excluding the fourth quarter 2022 deferred tax asset valuation allowance reduction of $6.5 million) compared to net loss of $(0.5) million; Earnings per share of $0.55 ($0.03 excluding the fourth quarter 2022 deferred tax asset valuation allowance reduction of $0.52) compared to loss per share of $(0.04); Cash flow from operations of $0.1 million compared to $4.1 million.

CPI Aerostructures Reports Fourth Quarter and Full Year 2022 Results

EDGEWOOD, N.Y., Jan. 05, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc.  (CPI Aero® or the Company) (NYSE American: CVU) announced today that an undisclosed aerospace OEM has awarded CPI Aero a $1.8 million contract for complex welded fluid tank assemblies for an unspecified application. Deliveries will begin in 2023 and end in 2024.

CPI Aero Receives $1.8M Follow-On Order for Welded Fluid Tank Assemblies

The Company Estimates Agreement Has 3-year Potential Value of Approximately $20 Million The Company Estimates Agreement Has 3-year Potential Value of Approximately $20 Million

CPI Aero Receives New Multi-Year Agreement and $7.5 Million Firm Order for Airborne Reconnaissance Pods From Collins Aerospace

Third Quarter 2022 vs. Third Quarter 2021

News for CPI Aerostructures Inc Stock (CVU)