TechPrecision FY2023 revenue up 41% to $31.4M; Stadco losses weigh on profitability

TECHPRECISION CORP

FY2023 net sales $31.4M (up $9.1M YoY); backlog strong at $44.0M expecting delivery over 1-3 years.
Gross profit $4.9M (+45% YoY) but margin only 15.6%; Ranor gross profit $7.0M offset by Stadco losses.
Stadco net sales $12.2M but negative gross profit due to startup issues and equipment downtime.
Q4 2023 net sales $7.5M flat YoY; operating loss widened to $0.7M from $0.3M due to unabsorbed overhead.
Cash $0.5M; working capital improved to $5.6M; total debt reduced to $6.1M from $7.4M.

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 0.85

TECHPRECISION CORP reported financial results for the fourth quarter and fiscal year ended March 31, 2023.

Period: the fourth quarter and fiscal year ended March 31, 2023
Result: reported results

Exact text from the filing

On June 15, 2023, TechPrecision Corporation issued a press release announcing its financial results for the fourth quarter and fiscal year ended March 31, 2023.

View on SEC.gov

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

TECHPRECISION CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-071601

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.