CPI Aero of Edgewood reports profits from military contracts

Edgewood-based CPI Aerostructures increased its quarterly sales and profit mostly due to subcontracting work on U.S. military aircraft -- the Fairchild Republic A-10 attack jet and a Northrop Grumman Corp. E-2D surveillance airplane -- the company said Tuesday.

CPI reported income of $1.5 million on revenue of $17.4 million, up from last year's $1.2 million income on $12.5 million sales.

“The current second quarter and six-month periods were our best ever reporting periods in terms of revenue and net income," CPI Aero president Edward J. Fred said.

Revenue from the two aircraft "accounted for approximately 74 percent of government subcontracting revenue and approximately 58 percent of total revenue for first half of 2011," Fred said.

Photo: The Fairchild Republic A-10 attack jet, right, and Northrop Grumman Corp. E-2D surveillance airplane, left.

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