CPS Technologies Corp. (CPSH.OB) Announces Results for 2010 Second Quarter

QualityStocks would like to highlight CPS Technologies (OTCBB: CPSH), the world leader in developing and manufacturing advanced materials solutions and products, particularly combinations of metals and ceramics, to improve performance and reliability of applications in a variety of end markets.

In the company’s news yesterday,

CPS Technologies announced revenue of $5.2 million and net income of $450 thousand, or $0.04 per basic share and $0.03 per diluted share, for the fiscal quarter ended June 26, 2010. This compares with revenue of $3.6 million and net income of $66 thousand, or $0.01 per basic and diluted share, for the fiscal quarter ended June 27, 2009.

Revenue under the Company’s Cooperative Agreement with the Army for development of armor was down in Quarter 2, 2010 compared to Quarter 2, 2009. This was due to the timing of specific tasks. Technical progress in this area continues to be very positive for the Company.

Net income increased 581 percent in Quarter 2, 2010 compared to Quarter 2, 2009. This was because of increased demand and improving manufacturing efficiencies. Net income increased sequentially in Quarter 2, 2010 from Quarter 1, 2010 due to reduced reliance on overtime. CPS Technologies Corporation has hired personnel in their manufacturing facility throughout the first half of the year in order to reduce their reliance on overtime.

Grant Bennett, President of CPS Technologies Corporation, said, “We are indeed pleased with the 44% increase in revenues in Q2 2010 compared to the same period a year ago. Demand has been very volatile over the last two years because of the economic environment; we believe the Q2 2010 demand does represent real, underlying and sustainable demand rather than fluctuations relating to inventory adjustments or other economic factors.”

Headquartered in Norton, Massachusetts, CPS Technologies Corporation is a provider of advanced material solutions and products, particularly combinations of metals and ceramics. These are used in high-power, high-reliability applications. These applications are in the mainstream of the growing movement towards alternative energy and “green” lifestyles. The Company’s management believes underlying demand for these applications is growing and that CPS Technologies Corporation is well positioned to capture that growth.

The Company’s products provide both higher performance and improved efficiency in the use or generation of energy. Their primary advanced material solution is metal matrix composites (MMCs). These are a class of materials, which have several superior properties compared to conventional materials including improved thermal conductivity, thermal expansion matching, higher stiffness and lighter weight.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.