Canaccord Genuity Cuts Price Target on CPI Aerostructures (CVU) as A-10 Outlook Remains Uncertain
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CPI Aerostructures Announces Fourth Quarter and Full Year 2015 Results
March 28, 2016 6:39 AM EDTEDGEWOOD, NY -- (Marketwired) -- 03/28/16 -- CPI Aerostructures, Inc. ("CPI Aero") (NYSE MKT: CVU) today reported fourth-quarter and full-year 2015 financial results.
Full Year 2015 versus Full Year 2014
Revenue increased to $100.2 million from $39.7 million; Gross profit (loss) was $16.6 million compared to $(29.7) million; Pre-tax income (loss) was $8.0 million compared to $(37.7) million; Net income (loss) was $5.0 million compared to $(25.2) million; Earnings per diluted share were $0.58 per diluted share compared to $(2.98) per diluted share; Defense backlog increases 9% to $276.9 million from $254.8 million at end of 2014.Fourth Quarter 2015 versus Fourth Quarter 2014
Revenue... MoreCPI Aerostructures to Host 2015 Fourth Quarter and Year-End Conference Call Today
March 28, 2016 6:34 AM EDTEDGEWOOD, NY -- (Marketwired) -- 03/28/16 -- CPI Aerostructures, Inc. ("CPI Aero") (NYSE MKT: CVU) announced that its Chief Executive Officer and President, Douglas McCrosson, and Chief Financial Officer, Vincent Palazzolo, will host a conference call and webcast today, Monday, March 28, 2016, at 11:00 am Eastern Time to discuss the company's 2015 fourth quarter and full year results as well as recent corporate developments. Interested parties may participate in the call by dialing 877-407-8029 in the United States or 201-689-8029 from international locations. Questions may be asked during the live call, or, alternatively, you may... More
CPI Aerostructures Enters Into $40 Million Secured Credit Facility
March 28, 2016 6:30 AM EDTEDGEWOOD, NY -- (Marketwired) -- 03/28/16 -- CPI Aerostructures, Inc. ("CPI Aero") (NYSE MKT: CVU) announced today that it has entered into a $40.0 million amended and restated credit agreement that replaces its previous $35.0 million credit facility. BankUnited N.A. and Citizens Bank N.A. are lenders under the facility.
The facility consists of a $10.0 million term loan and up to $30.0 million of revolving credit that is secured by a lien on substantially all assets of the company and may be used for working capital needs, capital expenditures and general... More
