EARNINGS: CPI Aero reports quarterly profit
CPI Aerostructures Inc., Edgewood
parts maker for U.S. Air Force
Quarter: Ended March 31
Net income: Profit of $860,815, compared with profit of $545,921 in the same quarter last year.
Net sales: $11 million, compared with $9.7 million in the year-ago quarter.
Outlook: With 2008 revenues as a baseline, CPI Aero expects by 2011 a compound revenue increase of more than 30 percent and a compound profit increase of more than 50 percent.
Company statement: "Our long-term guidance is based on our expectation that our three major long-term production programs (A-10, E-2D and G650) will be in full- scale production and producing consistent significant revenue during 2011," president and chief executive Edward J. Fred said.
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