secwatch.observer — SEC 8-K summary
======================================

Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001387131-23-006495
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures swings to net income of $1.0M in Q1 2023; revenue up 9.5% to $22.0M
--------------------------------------------------------------------------------

- Revenue $22.0M (+9.5% YoY); gross margin improved to 21.2% from 17.1%.
- Net income $1.0M ($0.08 EPS) vs net loss of $32,931 in Q1 2022.
- Cash from operations $0.9M vs use of $2.4M a year ago.
- Debt reduced to $22.1M from $22.8M at Dec 31, 2022; backlog $515.8M.
- Credit facility extended to Nov 30, 2024; factory overhead and SG&A lowered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000138713123006495/0001387131-23-006495-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000138713123006495/cvu-8k_051523.htm
  HTML page:      https://secwatch.observer/filing/0001387131-23-006495

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