Techprecision Corp Stock Price, News & Analysis

TechPrecision (NASDAQ:TPCS) has announced it will release its fiscal 2025 third quarter financial results on Tuesday, April 8, 2025, after market close. The company will host a conference call at 4:30 p.m. Eastern on the same day.

Participants can join the live conference call by dialing 1-888-506-0062 (US) or 1-973-528-0011 (International) using code 538981. A replay will be available until April 22, 2025, accessible via 1-877-481-4010 or 1-919-882-2331 with Conference Passcode 52309. The webcast will also be available online at the provided link.

TechPrecision (NASDAQ:TPCS) has appointed Phillip E. Podgorski as its new Chief Financial Officer, effective March 31, 2025. Podgorski joins from RTX Technology Research Center, where he served as CFO since 2013, managing GAAP, SEC, and government accounting responsibilities.

The appointment aims to strengthen TechPrecision's financial leadership, with CEO Alexander Shen highlighting Podgorski's public company experience in the defense sector and expertise in financial strategy and scenario planning. The new CFO will focus on enhancing operations effectiveness across Ranor, Stadco, and TechPrecision divisions.

Podgorski holds an MBA and Bachelor of Science degree in Accounting from Western New England University. His role at RTX included strategic planning and managing annual operating budgets.

TechPrecision (NASDAQ:TPCS) has received a standard notification from Nasdaq on February 21, 2025, regarding non-compliance with Listing Rule 5250(c)(1). The notice was issued due to the company's failure to file its Quarterly Report (Form 10-Q) for the period ended December 31, 2024, within the extended deadline of February 19, 2025.

The company has been given 60 calendar days until April 22, 2025, to submit a compliance plan. Nasdaq may grant an extension of up to 180 calendar days until August 18, 2025, for the company to regain compliance. Currently, this notice does not immediately impact TPCS's listing or trading status on the Nasdaq Capital Market.

TechPrecision (NASDAQ:TPCS) has announced significant changes in its financial leadership and reporting timeline. Alexander Shen, the company's CEO, has been appointed as interim principal financial officer and principal accounting officer, effective February 14, 2025, following the resignation of Richard Roomberg, the former CFO.

The company has disclosed its inability to file its Q3 FY25 Form 10-Q within the prescribed period, targeting March 7, 2025, which would be 21 days late. This continues a pattern of delayed filings over the past year, with previous delays ranging from 16 to 85 days. The company attributes these delays primarily to resource drain from acquisition activities and states it is taking steps to achieve consistent compliance with timely reporting requirements.

TechPrecision (NASDAQ:TPCS) reported its FY2025 Q2 financial results, showing an 8% year-over-year revenue increase. Q2 consolidated revenue reached $8.9 million, up 12% from $8.0 million in the previous year, driven by favorable project mix at both Ranor and Stadco divisions.

However, Stadco reported an operating loss of $0.8 million due to higher manufacturing costs, legacy pricing issues, machine breakdowns, and under-absorbed overhead costs. The company's backlog stands at $48.6 million as of September 30, 2024, expected to be delivered over the next one to three fiscal years.

Financial position shows cash and equivalents of $132,000, negative working capital of $1.5 million, and total debt of $7.2 million as of September 30, 2024. The company reported a net loss of $0.6 million for the quarter and $2.1 million for the six-month period.

TechPrecision (NASDAQ:TPCS) announced that John A. Moore has resigned from the company's board of directors, effective January 13, 2025. Moore's departure is attributed to his desire to focus on other responsibilities. The Board has decided to maintain the vacancy created by Moore's resignation for now.

Following this change, the company has reorganized its committee structure. The Audit Committee is now led by Walter M. Schenker as Chair, with Andrew A. Levy and General Victor E. Renuart Jr. as members. The Compensation Committee has been restructured with Andrew A. Levy as Chair and Robert D. Straus as a member.

TechPrecision (Nasdaq:TPCS) has announced it will release its fiscal 2025 second quarter financial results on Tuesday, January 21, 2025, after market close. The company will host a conference call at 4:30 p.m. Eastern time on the same day.

Investors can participate in the live conference call by dialing 1-888-506-0062 (US) or 1-973-528-0011 (International) using code 801510. A replay will be available until February 4, 2025, accessible by dialing 1-877-481-4010 (US) or 1-919-882-2331 (International) with Conference Passcode 51915. The call will also be available via webcast.

TechPrecision (NASDAQ:TPCS) announced significant changes to its Board of Directors following the 2024 Annual Meeting. Stockholders elected three new directors: John A. Moore, General Victor E. Renuart Jr., and Robert D. Straus. The Board unanimously appointed General Renuart Jr. as Chair and Straus as Vice-Chair. The company also reorganized its committee structure, with Walter M. Schenker heading the Audit Committee, John A. Moore leading the Compensation Committee, and Robert D. Straus chairing the Nominating and Governance Committee.

The Wynnefield Group, TechPrecision's (NASDAQ: TPCS) largest shareholder with approximately 7% ownership, has filed definitive proxy materials urging stockholders to vote using BLUE proxy cards to elect two new director nominees. The action comes after TechPrecision's failure to comply with Nasdaq listing rules due to late SEC filings and the company's disclosure of substantial doubt about its ability to continue as a going concern. The group seeks to elect General Victor Eugene Renuart, Jr. and Robert Straus to the board, citing years of poor operating results and strategic missteps by current management.