TechPrecision Q2 FY2023 net sales up 78% to $8.5M; operating loss narrows to $0.1M

TECHPRECISION CORP

2023-Q2 EPS reported $0.00 revenue$15,599,004

Net sales $8.5M (+78% YoY) driven by Stadco acquisition and Ranor growth; gross profit $1.7M.
Operating loss of $0.1M improved from $0.2M loss a year ago; Stadco segment still unprofitable.
Backlog $49.4M, up $23.0M from Sept 2021; deliveries expected over 1-3 years.
Cash $0.2M, total debt $6.0M; Ranor term loan matures Dec 2022, refinancing risk noted.
Company applied for Nasdaq listing; may seek shareholder approval for reverse stock split.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TECHPRECISION CORP reported the second quarter of fiscal 2023 ended September 30, 2022 results: revenue $8.5 million.

Period: the second quarter of fiscal 2023 ended September 30, 2022
Revenue: $8.5 million
Result: reported results

Exact text from the filing

Second quarter consolidated net sales were $8.5 million or 78% higher when compared to $4.8 million in same quarter a year ago,

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TECHPRECISION CORP reported the six months ended September 30, 2022 results: revenue $15.6 million.

Period: the six months ended September 30, 2022
Revenue: $15.6 million
Result: reported results

Exact text from the filing

Fiscal 2023 Six Months Ended September 30, 2022, Consolidated Financial Results · Net sales were $15.6 million, an increase of $7.4 million, due to $4.7 million of added revenue from Stadco and $2.7 million of higher revenue at Ranor.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

TECHPRECISION CORP filing history →

Source: SEC EDGAR

accession 0001104659-22-119886

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