secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2022-08-19T23:59:59+00:00
Accession:  0001387131-22-008928
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aero reports FY'21 revenue up 18% to $103.4M, net income of $6.8M; backlog $501.7M
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- FY 2021 revenue $103.4M (+18% YoY); gross margin improved to 14.5% from 11.1%.
- Net income of $6.8M ($0.56 diluted EPS) includes $4.8M PPP loan forgiveness; operating cash flow $2.8M.
- Q4 2021 revenue $26.4M, net loss of $0.5M vs. net income $0.2M in Q4 2020.
- Total debt reduced to $26.2M from $33.4M year-end 2020; backlog grew to $501.7M from $476.2M.
- CEO expects lower revenue in 2022 as transition year; Company working to file overdue quarterly reports for NYSE relisting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000138713122008928/0001387131-22-008928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000138713122008928/cvua-8k_081922.htm
  HTML page:      https://secwatch.observer/filing/0001387131-22-008928

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