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TechPrecision Corporation reports developments tied to its custom manufacturing of precision, large-scale fabrication components and machined metal structural components. The company sells customer-designed components to defense and precision industrial customers through two wholly owned reportable segments, Ranor and Stadco.
Recurring updates focus on quarterly and annual results, backlog, gross margin, productivity, project mix, and segment performance. Ranor is described around heavy fabrication, machining, welding, materials traceability, inspection, and packaging for large precision components. Stadco updates center on mission-critical components for military aircraft, helicopters, space programs, and related tooling, molds, fixtures, jigs, and dies. Company news also includes earnings-call scheduling and public-company reporting matters such as Nasdaq compliance notices.
TechPrecision Corporation (OTCQB:TPCS) reported its financial results for the first quarter of fiscal year 2023, ending June 30, 2022. Net sales surged 107% year-over-year, reaching $7.1 million, predominantly driven by $2.4 million from the Stadco subsidiary and $1.3 million increase at Ranor. Despite higher sales, the company faced challenges with an operating loss of $0.6 million versus a profit of $0.1 million last year. Cash and cash equivalents fell to $0.6 million. The backlog has grown to $45.9 million, indicating future revenue potential.
TechPrecision Corporation (OTCQB:TPCS) announced its preliminary financial results for the first quarter of fiscal 2023, reporting net sales of $7.1 million, with a pre-tax loss of $675,000. The Ranor subsidiary generated pre-tax income of $1.0 million from net sales of $4.7 million, while Stadco reported a pre-tax loss of $1.5 million on net sales of $2.4 million. Despite challenges, the company's backlog remains strong at $45.9 million. A conference call is scheduled for August 22, 2022, to discuss these results.
TechPrecision Corporation (OTCQB:TPCS) reported a strong fiscal 2022 with net sales of $22.3 million, a 43% increase from fiscal 2021. The growth was bolstered by the $7.8 million contribution from the Stadco subsidiary acquired in August 2021, despite a $1 million decline in sales from Ranor. The backlog has significantly increased to $47.3 million. However, the company experienced an operating loss of $1.6 million compared to a profit of $623,000 in the previous year. Interest expenses rose due to new debt.
TechPrecision Corporation (OTCQB:TPCS) will release financial results for its 2022 fiscal fourth quarter and year end on July 13, 2022. The Company is a leading manufacturer of precision metal components serving the defense and industrial sectors. A conference call is scheduled for 4:30 p.m. Eastern on the same day, with a replay available until July 27, 2022. TechPrecision, through its subsidiaries, provides customized fabrication and machining solutions across various markets, emphasizing comprehensive service delivery.
TechPrecision Corporation (OTCQB:TPCS) reported a strong fiscal Q3 2022, with backlog increasing by 33% to $35.2 million and net sales soaring 82% to $6.5 million.
However, gross profit declined to $478,000 primarily due to an unfavorable production mix, leading to an operating loss of $1.1 million. SG&A expenses surged by $908,000 due to the Stadco acquisition. Despite a net loss of $905,000, management is optimistic about future revenue and margin improvement.
TechPrecision Corporation (OTCQB:TPCS) will release its financial results for the 2022 fiscal third quarter on February 17, 2022. A conference call will be held at 4:30 p.m. ET on the same day, where participants can join by dialing 1-888-506-0062 (international: 1-973-528-0011). A replay of the call will be available until March 3, 2022. TechPrecision manufactures precision, large-scale metal components for the defense and industrial sectors.
TechPrecision Corporation (OTCQB:TPCS) reported its Fiscal 2022 second-quarter results, showing net sales of $4.8 million, a 2% increase from the prior year. However, gross profit fell by 18% to $0.9 million due to integration costs from the acquisition of STADCO. The company recorded a net loss of $220,000, contrasting with a net income of $271,000 last year. Despite challenges, the sales order backlog reached $26.4 million. TechPrecision anticipates higher revenues in future quarters as integration progresses.
TechPrecision Corporation (OTCQB:TPCS) has announced the rescheduling of its fiscal 2022 second quarter earnings release and conference call. Originally set for November 22, 2021, it will now take place on December 7, 2021, after market close. The delay is due to the additional time needed to finalize financial statements following the acquisition of Stadco on August 25, 2021. The conference call will occur at 4:30 p.m. Eastern, with dial-in instructions provided for participants.
TechPrecision Corporation (OTCQB:TPCS) announced it will release its 2022 fiscal second quarter financial results on November 22, 2021. A conference call is scheduled for 4:30 p.m. Eastern Time on the same day, providing investors and analysts the opportunity to learn about the company's financial performance and outlook. Participants can join the call by dialing the provided numbers. The call will also be accessible via the internet. TechPrecision manufactures precision metal components for various sectors, including defense and aerospace.
TechPrecision Corporation (OTCQB:TPCS) will host a conference call on September 29, 2021, at 4 p.m. ET to discuss its recent acquisition of STADCO, a supplier of large flight-critical components for military and commercial applications. This acquisition aims to strengthen TechPrecision's position in the defense and aerospace markets. Participants can access the call via phone or listen to a webcast. A replay will be available until October 13, 2021.