CPI Aerostructures has released the preliminary financial results for its fourth quarter and year ended December 31, 2009. The company’s fourth quarter revenue was reported at $12.7 million. This marks the company’s highest revenue quarter in its history. It’s quarterly net income for the quarter was reported at $1.5 million. The company’s full year revenue was also reported to have increased to $43.9 million. This is also the highest annual revenue the company has ever reported. The full year net income was $3.9 million, showing a 50% increase over 2008’s annual net income.
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CPI’s chief executive officer Edward Fred, and CFO Vincent Palazzolo will discuss the company’s financial results during a conference call on March 23, at 11:00 am ET. Individuals may join the call by dialing 706.679.3079. Participants are asked to dial in ten minutes prior to the start of the call. A webcast of the event will also be available at http://www.cpiaeero.com/.
CPI Aerostructures, Inc. (CPI Aero) is engaged in the contract production of structural aircraft parts principally for the United States Air Force and other branches of the United States armed forces, either as a prime contractor or as a subcontractor for other defense prime contractors. As a prime contractor, the Company delivers skin panels, leading edges, flight control surfaces, engine components, wing tips, cowl doors, nacelle assemblies and inlet assemblies for military aircraft such as the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the C-130 Hercules cargo jet, the A-10 Thunderbolt or Warthog attack jet, and the E-3 Sentry AWACS jet. The Company serves as a subcontractor to Northrop Grumman Corporation, Lockheed Martin Corporation, Sikorsky Aircraft Corporation and Vought Aircraft Industries, Inc.
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