secwatch.observer — SEC 8-K summary
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Issuer:     CPS TECHNOLOGIES CORP/DE/ (CPSH)
CIK:        0000814676
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001437749-24-024259
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS Technologies Q2 revenue $5.0M, operating loss $1.3M as Navy armor contract ends
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- Revenue $5.0M vs $7.4M YoY; gross margin (4.6)% vs 29.6% on lower volumes and fixed costs.
- Operating loss $1.3M vs profit $0.7M; net loss $0.07 diluted EPS vs income $0.04.
- HybridTech Armor contract with Kinetic Protection for US Navy completed, driving decline.
- New SBIR Phase II award from US Navy valued over $1M for thermal energy storage MMCs.
- Cash and equivalents $6.3M, down from $8.8M at year-end 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814676/000143774924024259/0001437749-24-024259-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814676/000143774924024259/cpsh20240801_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-024259

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