This Day On The Street
Continue to site
ADVERTISEMENT
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

CPI Aerostructures Announces 2013 Second Quarter Results

The first column heading in the Condensed Balance Sheets table should read: June 30, 2013 (sted March 31, 2013).

The corrected release reads:

CPI AEROSTRUCTURES ANNOUNCES 2013 SECOND QUARTER RESULTS

$68 Million in New Contract Awards as of July 31 st , 50% Higher than Same Period of 2012; Expects a Solid Year for New Business

CPI Aerostructures, Inc. (“CPI Aero ®”) (NYSE MKT: CVU) today announced financial results for the 2013 second quarter and six months ended June 30, 2013.

Second Quarter 2013 vs. 2012
  • Revenue was $21,110,452 compared to $20,854,627;
  • Gross margin was 20.1% compared to 27.7%;
  • Pre-tax income was $2,584,276 compared to $4,024,019; and,
  • Net income was $1,784,276 or $0.21 per diluted share, compared to $2,696,019 or $0.36 per diluted share.

First Half 2013 vs. 2012
  • Revenue was $41,037,885 compared to $40,575,722;
  • Gross margin was 21.1% compared to 26.5%;
  • Pre-tax income was to $5,005,551 compared to $6,734,338; and,
  • Net income was $3,455,551 or $0.41 per diluted share compared to $4,615,338 or $0.63 per diluted share.

* Diluted earnings per share for 2013 second quarter and six month periods were calculated on 16% and 18% more shares outstanding, respectively, than in the prior year periods due to the Company’s 1.2 million share public offering completed in July 2012.

Edward J. Fred, CPI Aero’s President & CEO, stated, “2013 second quarter and first half results were in line with our expectations. Our revenue for both reporting periods slightly increased, as compared to the same periods of 2012; however, as we previously reported, we expect our revenue for the full year to decline from 2012’s full year revenue.”

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs