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Last $11.50 USD
Change Today +0.05 / 0.44%
Volume 8.4K
CVU On Other Exchanges
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

cpi aerostructures inc (CVU) Snapshot

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52 Week High
04/28/14 - $13.65
52 Week Low
08/7/14 - $8.16
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cpi aerostructures inc (CVU) Details

CPI Aerostructures, Inc. engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense aerospace markets. It offers aircraft structural parts, such as skin panels, leading edges, flight control surfaces, engine components, wing tips, cowl doors, nacelle assemblies, and inlet assemblies for military aircraft; and reconnaissance pod structures and fuel panel systems. The company also operates as a subcontractor for defense prime contractors and commercial contractors, as well as the United States Department of Defense, primarily the Air Force. In addition, it offers engineering, program management, supply chain management, and maintenance repair and overhaul services. The company was formerly known as Consortium of Precision Industries, Inc. and changed its name to CPI Aerostructures, Inc. in July 1992. CPI Aerostructures, Inc. was founded in 1980 and is headquartered in Edgewood, New York.

281 Employees
Last Reported Date: 03/6/15
Founded in 1980

cpi aerostructures inc (CVU) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $253.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $253.0K
Compensation as of Fiscal Year 2013.

cpi aerostructures inc (CVU) Key Developments

CPI Aerostructures Wins $3 Million Contract from Cessna for Wing Assemblies

CPI Aerostructures said it won a $3 million contract from the Cessna Aircraft Company to supply wing spar assemblies on their aircraft, the new Citation X+. The order is a follow-on to a long-term agreement (LTA) announced in October 2012. The total value of firm orders under this LTA is now approximately $12.2 million. CPI Aero commenced deliveries to Cessna in 2013. This new order extends production backlog through late 2016. The new Citation X+, certified by the U.S. Federal Aviation Administration in June 2014, has seating for up to 12 passengers, a maximum altitude of 51,000 feet, an unmatched maximum speed of Mach 0.935 and an increased max range of 3,429 nautical miles.

CPI Aerostructures Inc. Secures $1.21 Million Contract

CPI Aerostructures Inc. has been awarded a $1.21 million contract by Northrop Grumman Corporation to manufacture pod structural housings for the Airborne Laser Mine Detection System. The contract includes options which, if exercised, would bring the cumulative value to $6.75 million. In December 2014, the U.S. Navy issued a contract to Northrop Grumman to deliver five additional Low Rate Initial Production (LRIP) systems. The contract also includes five subsequent options to deliver follow-on Full Rate Production (FRP) systems at a maximum order quantity of four systems per option. CPI Aero will manufacture pod structural housings under this new contract, with deliveries scheduled to commence in early 2016.

CPI Aerostructures Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

CPI Aerostructures Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's GAAP revenue and adjusted revenue was $20,067,439 against $21,285,992 a year ago. Gross profit was $4,276,019 against $5,280,303 a year ago. Gross margin was 21.3%, compared to 24.8% a year ago. Pre-tax income was $2,113,259, compared to $3,376,242 a year ago. Net income was $1,717,259, or $0.20 per diluted share, compared to $2,370,242, or $0.28 per diluted share a year ago. For the year, the company's revenue was $39,687,010 against $82,988,522 a year ago. Loss from operations was $37,032,919 against income from operations of $11,728,723 a year ago. Loss before provision for income taxes was $37,682,275 against income before provision for income taxes of $11,153,894 a year ago. Net loss was $25,209,275 or $2.98 diluted per share against net income of $7,736,894 or $0.91 diluted per share a year ago. For the year 2015, the company expects revenue to be in the range of $92.0 million to $102.0 million. Net income is expected to be in the range of $7.2 million to $8.0 million.


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