This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CPI Aerostructures Announces Record 2012 Second Quarter Results

Stocks in this article: CVU

CPI Aerostructures, Inc. (“CPI Aero ®”) (NYSE MKT: CVU) today announced record results for the 2012 second quarter and six months ended June 30, 2012.

Second Quarter 2012 vs. 2011

  • Revenue increased 19.7% to $20,854,627 from $17,426,223;
  • Gross margin was 27.7% compared to 24.4%;
  • Pre-tax income increased 92.1% to $4,024,019 compared to $2,094,816; and,
  • Net income increased 71.6% to $2,696,019 or $0.36 per diluted share, compared to $1,570,816, or $0.22 per diluted share.

First Half 2012 vs. 2011

  • Revenue increased 21.4% to $40,575,722 from $33,435,831;
  • Gross margin was 26.5% compared to 24.2%;
  • Pre-tax income increased 64.0% to $6,734,338 compared to $4,106,865;
  • Net income increased 57.0% to $4,615,338 or $0.63 per diluted share compared to $2,938,865 or $0.41 per diluted share; and,
  • Unawarded solicitations remain at a high level with open solicitations totaling a maximum realizable value of approximately $980 million.

Edward J. Fred, CPI Aero’s President & CEO, stated, “The 19.7% increase in second quarter revenue resulted in a more than 71% increase in net income, as several of our long-term programs including the NGC E-2D program, the Gulfstream G650 program and Boeing A-10 program, are in full scale production and we no longer incur excess costs related to engineering and design changes for these contracts.

“The 21.4% increase in 2012 first half revenue was due to a $7.6 million or 185% increase in revenue generated from commercial customers, with the Gulfstream G650 (up by $4 million) and Honda (up by $1.8 million) accounting for most of the increase. Revenue generated from prime government contracts increased by 14% to approximately $3.6 million, while revenue generated by government subcontracts decreased by 3.5% to approximately $25.3 million. Of note, for the 2012 first half, revenue generated from government subcontracts, commercial contracts and prime government contracts accounted for approximately 62%, 29% and 9% of total revenue, respectively.”

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs