secwatch.observer — SEC 8-K summary
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Issuer:     CPS TECHNOLOGIES CORP/DE/ (CPSH)
CIK:        0000814676
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001437749-24-014588
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS Technologies Q1 revenue down 17% to $5.9M; net loss of $0.1M vs net income of $0.5M
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- Revenue $5.9M vs $7.1M YoY; gross margin fell to 15.3% from 31.6% due to quality control costs and lower volumes.
- Operating loss of $0.3M vs profit of $0.7M; diluted EPS of -$0.01 vs +$0.03.
- Signed manufacturing license with Triton Systems for Fiber-Reinforced Aluminum Composites to expand product portfolio.
- Revenue expected to be impacted by lower HybridTech Armor sales in coming quarters.
- Company submitted four Phase I and two Phase II SBIR proposals; presented radiation shielding composite with 55% mass reduction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814676/000143774924014588/0001437749-24-014588-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814676/000143774924014588/cpsh20240503_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014588

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