secwatch.observer — SEC 8-K summary
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Issuer:     TECHPRECISION CORP (TPCS)
CIK:        0001328792
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001104659-24-029393
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TechPrecision Q3 revenue down 8% to $7.7M; operating loss of $1.0M; backlog rises to $50.8M
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- Net sales $7.7M (-8% YoY); operating loss $1.0M vs income $0.3M a year ago.
- Gross profit $1.2M, down 23% YoY; $1.0M spent on due diligence for potential acquisition.
- Backlog rose to $50.8M from $44.6M at Sept 30, 2023, reflecting continued customer confidence.
- Cash $0.4M; total debt $7.6M; working capital negative due to debt covenant violation.
- Nine-month net sales $23.0M (-4% YoY); operating loss $2.2M vs $0.4M loss a year ago.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1328792/000110465924029393/0001104659-24-029393-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1328792/000110465924029393/tm247627d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-029393

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer