secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001387131-23-004752
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aero Q4 net income $6.8M vs loss; FY revenue down to $83.3M, gross margin up to 19.6%
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- Q4 2022 revenue $24.1M (-9% YoY); net income $6.8M (incl $6.5M deferred tax benefit) vs net loss $0.5M.
- Full year 2022 revenue $83.3M (down from $103.4M); net income $9.2M vs $6.8M; EPS $0.74 vs $0.56.
- Gross margin improved to 19.6% from 14.5%; debt reduced to $22.8M from $26.2M; backlog $514.5M.
- Regained NYSE American compliance; BC indicator removed as of March 20, 2023.
- 2023 guidance: slightly higher revenue, sustaining profitability and positive operating cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000138713123004752/0001387131-23-004752-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000138713123004752/cvu-8k_041423.htm
  HTML page:      https://secwatch.observer/filing/0001387131-23-004752

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