CPS Technologies Q1 revenue $7.1M record, gross margin up 210 bps, operating profit +27% YoY

CPS TECHNOLOGIES CORP/DE/

2023-Q1 EPS reported $0.03 revenue$7,100,267

Revenue $7.1M vs $6.7M YoY (+7%); gross margin 31.6% vs 29.5% (+210 bps).
Operating profit $0.7M vs $0.5M; net income $0.5M, diluted EPS $0.03 unchanged.
Book-to-bill ratio 112%; strong wins with leading aerospace customer and new SBIR contract.
CFO Chuck Griffith expects additional revenue and profit records in 2023.
Cash and equivalents $7.4M at quarter end; team expanded in business development and quality.

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 the fiscal first quarter ended April 1, 2023 results: revenue $7.1 million, net income $0.5 million, or $0.03 per diluted share, EPS $0.03 per diluted share.

Period: the fiscal first quarter ended April 1, 2023
Revenue: $7.1 million
Net income: $0.5 million, or $0.03 per diluted share
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

CPS reported revenue of $7.1 million for the first quarter of fiscal 2023 versus $6.7 million in the prior-year period, reflecting higher product shipments. Gross profit rose to $2.2 million, or 31.6 percent of revenue, from $2.0 million, or 29.5 percent of revenue, in the fiscal 2022 first quarter. The higher gross margin year-over-year reflects increased operating leverage and improved product mix. Operating profit rose to $0.7 million in the fiscal 2023 first quarter from $0.5 million in the prior-year period. Reported net income was $0.5 million, or $0.03 per diluted share, versus $0.4 million, or $0.03 per diluted share, in the quarter ended April 2, 2022.

View on SEC.gov

Browse all earnings releases →

CPS TECHNOLOGIES CORP/DE/ filing history →

Source: SEC EDGAR

accession 0001437749-23-013044

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.