Welcome to our dedicated page for Cps Technologie news (Ticker: CPSH), a resource for investors and traders seeking the latest updates and insights on Cps Technologie stock.
CPS Technologies Corp. reports company developments tied to its advanced materials manufacturing business, including metal matrix composites, hermetic packaging, power module components and lightweight HybridTech Armor®. News commonly covers quarterly operating results, production rates, customer orders and demand across transportation, energy, electronics, telecommunications, aerospace and defense applications.
Recurring updates also include contracts for aluminum silicon carbide components used in high-speed rail and grid infrastructure, funded defense research involving lighter vehicle materials, production-capacity planning, capital actions and executive leadership changes. The company’s disclosures connect its materials technology to electrification, high-reliability electronics, satellite and avionics markets.
CPS Technologies Corporation (Nasdaq: CPSH) celebrates NASA's successful launch of the Mars 2020 Mission Perseverance Rover, highlighting its role in producing the AlSiC hermetic housing for the turret power supply of the SHERLOC instrument. AlSiC, a lightweight metal-matrix composite combining aluminum and silicon carbide, enhances reliability and performance in various applications due to its superior thermal properties. CPS has also supplied AlSiC components for the International Space Station and GPS III satellites, reinforcing its commitment to innovation in aerospace and electronic systems.
CPS Technologies Corporation (NASDAQ: CPSH) reported $5.8 million in revenues and an operating profit of $331 thousand for Q2 2020, down from $6.4 million and $258 thousand in Q2 2019. For the first half of 2020, revenues reached $12.3 million with an operating profit of $952 thousand, improving from $11.6 million and an operating loss of $486 thousand in H1 2019. CEO Grant Bennett noted a demand decrease due to a major customer's inventory adjustments related to the coronavirus pandemic but highlighted strong gross margins and operational improvements.
CPS Technologies Corporation (Nasdaq:CPSH) has announced its quarterly investor conference call set for July 29, 2020, at 4:45 P.M. (Eastern). During this call, President and CEO Grant Bennett and CFO Chuck Griffith will discuss the financial results for the three and six months ending June 27, 2020. Participants can join by dialing 1-833-953-1394 and using Conference ID: 6958894. CPS is a leader in metal-matrix composite components, enhancing performance in electric vehicles, public transportation, and high-performance computing.
CPS Technologies Corporation (CPSH) announced an amendment to its credit facility with The Massachusetts Business Development Corporation, increasing the borrowing limit from $2.5 million to $3.0 million. CFO Chuck Griffith stated this increase provides flexibility for expected growth and additional security amid the uncertainties of the COVID-19 pandemic. Although CPSH does not plan to use the extra funds immediately, the amendment reflects a strong partnership with the financial institution, anticipating ongoing support for capital needs.
CPS Technologies Corporation (NASDAQ:CPSH) reported revenues of $6.5 million and an operating profit of $622 thousand for the quarter ending March 28, 2020, a notable increase from $5.3 million in revenues and an operating loss of $744 thousand during the same period in 2019. President Grant Bennett highlighted ongoing new contracts with major customers that are expected to drive performance through 2020. Despite challenges posed by coronavirus, demand remains robust, although some delays are anticipated. The company has implemented measures to ensure safe operations.
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