December 19, 2012

CPI Aero Selected By Sikorsky Aerospace Services For Overhaul And Repair Of H-60 SEAHAWK® Stabilator Units Worth $5.3 Million Over Three Years

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) has been selected by Sikorsky Aerospace Services (SAS) to overhaul and repair (O&R) outboard stabilator assemblies for the H-60 SEAHAWK®helicopter. SAS is the worldwide aftermarket business of Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp. (NYSE: UTX).   read more

 

December 6, 2012

CPI Aerostructures Amends Credit Agreement To Provide For An Increase In Revolving Credit Facility

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced today that it has amended its existing credit agreement to increase revolving credit commitments from $17 million to $35 million and to continue a $3.9 million principal balance term loan. The revolving credit line was extended four years until December 5, 2016. The facility permits CPI Aero to request increases in revolving credit commitments to up to $50 million in aggregate. Valley National Bank joined Sovereign Bank, N.A. as a lender under the facility.   read more

 

November 9, 2012

CPI Aerostructures Announces Record 2012 Third Quarter Results

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced record results for the 2012 third quarter and nine months ended September 30, 2012. Third Quarter 2012 vs. 2011 Revenue increased 28.5% to $21,340,831 from $16,607,638; Gross margin was 27.2% as compared to 25.1%; Pre-tax income increased 59.0% to $4,025,437, compared to $2,531,042; and,   read more

 

November 7, 2012

CPI Aero Awarded Seven Year Contract By Cessna For The New Citation X Wing Spar Assemblies

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced today that it has been awarded a contract by Cessna Aircraft Company (“Cessna”), a subsidiary of Textron Inc. (NYSE: TXT), to supply structural assemblies, predominately wing spars, for Cessna’s flagship aircraft, the newly-relaunched Cessna Citation X. CPI Aero estimates the value of the contract, over a seven year period, to be approximately $41 million. The intial delivery order is for approximately $5 million.  read more

 

November 1, 2012

CPI Aerostructures To Report 2012 Third Quarter Financial Results And Conduct Conference Call On Friday, November 9th

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it will issue its financial results for the third quarter ended September 30, 2012 on Friday, November 9, 2012prior to the opening of the stock market.  read more

September 13, 2012

CPI Aero Awarded Supplier Gold Status from Sikorsky Aircraft Corporation

Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced today that Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp. (NYSE: UTX), has awarded CPI Aero its Supplier Gold status.   read more

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