CPS Technologies Q3 revenue $6.7M (+22% YoY), operating profit $709k vs loss of $88k

CPS TECHNOLOGIES CORP/DE/

2022-Q3 EPS reported $0.13 revenue$20,471,574

Revenue of $6.7M was up 22% YoY; operating profit of $709k reversed a $88k loss in Q3 2021.
Year-to-date operating profit of $1.9M, up 858% from $201k in prior year.
Net income of $988k ($0.07 EPS) vs $2.7M ($0.18) prior year due to a $2.8M tax benefit reversal in 2021.
CEO highlighted record HybridTech Armor U.S. Navy order and new product wins driving momentum into FY23.
Cash $5.6M, equity $15.3M; balance sheet remains strong.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CPS TECHNOLOGIES CORP/DE/ reported financial results for quarter ended October 1, 2022.

Period: quarter ended October 1, 2022
Result: reported results

Exact text from the filing

On November 2, 2022, the Company issued a press release announcing its financial results for the quarter ended October 1, 2022. A copy of the press release is attached hereto as Exhibit 99 and is incorporated herein in its entirety by reference.

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Source: SEC EDGAR

accession 0001437749-22-025704

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