secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2022-11-21T23:59:59+00:00
Accession:  0001387131-22-011567
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aero Q3 revenue falls to $20.2M but gross margin expands to 26.4%; net income $1.9M
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- Revenue of $20.2M, down from $23.9M YoY; gross profit margin rose to 26.4% from 15.3%.
- Net income $1.9M ($0.15 diluted EPS) compared to $5.4M ($0.44) which included $4.8M PPP forgiveness.
- Cash from operations $2.9M vs $1.2M prior year; debt reduced to $23.7M from $27.1M.
- Total backlog of $501M; company expects first deliveries on new programs within next nine months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/0001387131-22-011567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/cvu-8k_112122.htm
  HTML page:      https://secwatch.observer/filing/0001387131-22-011567

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