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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 fiscal 2021 first quarter results, revealing sales of $3.3 million, a 24% decrease from $4.3 million in Q1 fiscal 2020. The company faced a net loss of $116,000, compared to net income of $221,000 in the same period last year. Contributing factors include learning-curve challenges and a mix of lower-margin projects. Despite a decline in backlog from $16.8 million to $14.4 million, the company booked over $4.0 million in new orders in July 2020.