secwatch.observer — SEC 8-K summary
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Issuer:     TECHPRECISION CORP (TPCS)
CIK:        0001328792
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0001104659-23-071601
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1328792/000110465923071601/0001104659-23-071601-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1328792/000110465923071601/tm2318715d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-071601

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