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CPI Aerostructures, Inc. (CVU)

NYSE American - NYSE American Delayed Price. Currency in USD
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4.7100+0.0300 (+0.64%)
At close: 4:00PM EDT
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Neutralpattern detected
Previous Close4.6800
Open4.6500
Bid0.0000 x 900
Ask4.7100 x 1100
Day's Range4.5300 - 4.7100
52 Week Range2.0500 - 7.0000
Volume51,510
Avg. Volume726,261
Market Cap56.291M
Beta (5Y Monthly)1.88
PE Ratio (TTM)N/A
EPS (TTM)-0.3400
Earnings DateJan 04, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est5.00
  • CPI Aerostructures Receives Follow-On Order for Airborne Pod Structural Housings
    GlobeNewswire

    CPI Aerostructures Receives Follow-On Order for Airborne Pod Structural Housings

    EDGEWOOD, N.Y., March 29, 2021 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it was awarded a follow-on order from an undisclosed existing customer to manufacture three airborne pod structural housings. The housings are the primary structural assembly for an externally mounted, pod-based military radar system. Deliveries are scheduled for 2022. CPI Aero president and CEO Douglas McCrosson stated, “CPI has produced this assembly for our customer since 2004, delivering over 120 units over that time. We are proud of our role in supporting this long running program. This product has an important place in CPI history as it was the first of what would become a major product category for us with six different pod structures currently manufactured by CPI for a variety of customers and missions, including Intelligence, Surveillance Reconnaissance (ISR) and Electronic Warfare (EW).” About CPI AeroCPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index. The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2019, and Form 10-Q for the three-month periods ended March 31, 2020, June 30, 2020, and September 30, 2020. CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO. Investor Relations Contacts: LHA Investor RelationsJody Burfening(212) 838-3777cpiaero@lhai.com www.lhai.com

  • CPI Aerostructures Receives $9.2 Million Follow-On Order From Lockheed Martin for F-16 Structural Assemblies
    GlobeNewswire

    CPI Aerostructures Receives $9.2 Million Follow-On Order From Lockheed Martin for F-16 Structural Assemblies

    Firm Orders Under Multi-Year Contract Now Total Approximately $17.9 MillionEDGEWOOD, N.Y., March 17, 2021 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it was awarded a follow-on order from Lockheed Martin (NYSE: LMT) to manufacture structural assemblies for new production F-16 Block 70/72 aircraft ‒ the newest and most advanced F-16 production configuration. In February 2019, CPI Aero announced a multi-year contract with Lockheed Martin to provide Rudder Island and Drag Chute Canister (RI/DCC) assemblies for the F-16 and has received a number of orders since then. This new order, the largest order under this contract thus far, more than doubles the order book for this structural assembly to $17.9 million. Recently, CPI Aero delivered the first production unit to Lockheed Martin. Deliveries under the order announced today are expected to occur in 2022 and 2023. CPI Aero president and CEO Douglas McCrosson stated, “CPI is proud to be the single source supplier of RI/DCC assemblies for the F-16 Block70/72. Last August, the USAF and Lockheed Martin announced the 10 Year Indefinite-Delivery/Indefinite-Quantity contract in support of Foreign Military Sales Orders for the F-16. We believe that this contract vehicle will facilitate and accelerate foreign sales of this iconic aircraft and we look forward to supplying RI/DCC assemblies for many years to come. As a supplier on multiple Lockheed Martin platforms, including the F-35, the world’s premier 5th Generation fighter, and numerous Sikorsky helicopters, we thank the company for its continued confidence in CPI Aero’s execution capabilities.” About CPI Aero CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index. The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2019, and Form 10-Q for the three-month periods ended March 31, 2020, June 30, 2020, and September 30, 2020. CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO. Investor Relations Contacts: LHA Investor RelationsJody Burfening(212) 838-3777cpiaero@lhai.com www.lhai.com

  • CPI Aerostructures Announces Decision to Expand Manufacturing Operations on Long Island
    GlobeNewswire

    CPI Aerostructures Announces Decision to Expand Manufacturing Operations on Long Island

    - Company Will Retain Existing Jobs and Add 85 New Full-Time Jobs Over Five Years - - Company Will Receive Up to $3.75 Million From Empire State Development and Remain and Grow in New York State - EDGEWOOD, N.Y., Feb. 18, 2021 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (CPI Aero®) (NYSE American: CVU) today announced that Empire State Development (ESD) has awarded the company up to $2.7 million in Excelsior Jobs tax credits and an ESD Capital Grant of $1.05 million as incentive for CPI Aero to remain headquartered and grow in New York State. CPI Aero has committed to remaining on Long Island. To receive the maximum award, the Company over the next five years expects to invest over $5.7 million in new equipment, upgrades, and facility improvements, retain its current workforce and add 85 new full-time jobs. In connection with the New York State incentive, CPI has extended the term of its current leased facility in Edgewood, NY into 2023. After this term expires, CPI Aero is expected to either remain at its current location or relocate to a newly constructed and leased building adjacent to Long Island MacArthur Airport. Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "CPI Aero’s decision to expand its manufacturing facilities in Suffolk County, where it has been headquartered for more than 40 years, is a vote of confidence in New York State. By doing so, the company will continue to contribute to Long Island’s historic role in aerospace innovation, supported by a skilled 21st century workforce that will support its future growth and success." Douglas McCrosson, CEO and President of CPI Aero said “Long Island has a storied history in aviation and for the past 40 years CPI Aero is proud to have played our part in this heritage. As a manufacturer, we compete on a global basis and it is essential that we maintain our competitive edge. As we explored potential alternatives to New York, it became clear that other states could potentially offer operating cost savings but they couldn’t replicate what has been the secret to our success - our talented workforce and a labor pool with the aerospace and defense manufacturing skills that will be needed to support our growth plans. I’d like to acknowledge the efforts of the our many state and local partners that recognize the economic contributions CPI Aero makes to Long Island and New York State and who have made our decision to remain and grow in the Empire State an easy one.” About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov. About CPI AeroCPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index. The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2019, and Form 10-Q for the three-month periods ended March 31, 2020, June 30, 2020, and September 30, 2020. CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO. Investor Relations Counsel: LHA Investor RelationsJody Burfening (212) 838-3777cpiaero@lhai.comwww.lhai.com Source: CPI Aerostructures, Inc.