TODAY'S PAPER
45° Good Morning
NEWSDAY DEALS
YOU ARE A DEALS MEMBERVIEW DEALS
45° Good Morning
Business

CPI Aero reports $27M in new orders

Edward J. Fred, chief executive and president, CPI

Edward J. Fred, chief executive and president, CPI Aerostructures Inc., aircraft parts, Edgewood. Total compensation, as reported, $405,918. Credit: Ed Betz, 2010

Edgewood-based CPI Aerostructures Inc. has a new purchase order from Goodrich Corp., bringing its total new business for the year to $27.4 million, the company said Tuesday.

That compares to $22.3 million for the first two months of 2011, CPI Aero said.

Work will begin immediately on the Goodrich order, for aerospace structural assemblies, and the first delivery is scheduled for mid-2013, the company said. CPI Aero said this is its first contract with Goodrich.

In early trading Tuesday the company's stock was down 6 cents, to $14.73, on the high end of its 52-week range of $8.78 to $15.70.

In its Tuesday news release CPI Aero did not give a dollar value to the Goodrich contract. It follows a separate, $12.7-million deal announced in January, from Boeing’s defense, space and security division, for wing parts for the A-10 Thunderbolt.

Last month the company disclosed a financial detail for the 2011 calendar year. It said new business awards from all customers for the year was about $83.6 million, compared to $61.7 million in 2010.

Photo:  Edward J. Fred, chief executive and president, CPI Aerostructures Inc., with an aircraft door assembly.

Comments

We're revamping our Comments section. Learn more and share your input.

More news