CPI Aerostructures Inc
XBER:WCP
CPI Aerostructures Inc
CPI Aerostructures, Inc. engages in the manufacture of structural assemblies, integrated systems, and kitted components for the international aerospace and defense markets. The company is headquartered in Edgewood, New York and currently employs 267 full-time employees. CPI Aero is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in United States. CPI Aero provides services, such as manufacturing engineering, program management, supply chain management, and maintenance repair and overhaul (MRO). The company is a supplier to Original Equipment Manufacturers (OEMs) as well as a prime contractor to the United States Department of Defense (DOD), primarily the United States Air Force (USAF). CPI Aero products are used by customers in the production of fixed wing aircraft, helicopters, electronic warfare (EW) systems, intelligence, surveillance, and reconnaissance (ISR) systems, missiles, and other sophisticated A&D products.
CPI Aerostructures, Inc. engages in the manufacture of structural assemblies, integrated systems, and kitted components for the international aerospace and defense markets. The company is headquartered in Edgewood, New York and currently employs 267 full-time employees. CPI Aero is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in United States. CPI Aero provides services, such as manufacturing engineering, program management, supply chain management, and maintenance repair and overhaul (MRO). The company is a supplier to Original Equipment Manufacturers (OEMs) as well as a prime contractor to the United States Department of Defense (DOD), primarily the United States Air Force (USAF). CPI Aero products are used by customers in the production of fixed wing aircraft, helicopters, electronic warfare (EW) systems, intelligence, surveillance, and reconnaissance (ISR) systems, missiles, and other sophisticated A&D products.
Revenue Growth: Fourth quarter revenue increased by 11.9% to $25.4 million, driven by strong performance in defense programs.
Margin Expansion: Gross margin improved 730 basis points to 18.2% in Q4, nearly doubling gross profit compared to last year.
Profitability Turnaround: Net income swung to a $1.3 million profit from a $1.4 million loss in the prior year’s quarter.
Defense Focus: Military contracts now make up 90% of total revenue, up from 79% in 2019, reflecting a successful strategic pivot.
Backlog Shift: Total backlog ended at $476.2 million, down 15% mainly due to exiting a major business jet program, but funded defense backlog increased.
2021 Outlook: Management expects higher revenue, improved profitability, and stronger cash flow in 2021, with the bulk of revenue from funded defense backlog.
