CPI's year-end results may be promising

TECHNOLOGY

The chief executive of CPI Aerostructures Inc. said a lot - by not saying anything.

Ed Fred, who leads one of Long Island's last-remaining aircraft parts building companies, stressed in recent conference calls with analysts that if he felt the company could not meet the financial guidance it had issued, it would alert Wall Street.

There has been no alert.

CPI's fourth-quarter and year-end results are due out in mid-March, and it can now be assumed that sales for 2009 will be $42 million to $45 million, up from $35.5 million in 2008. Income should be $3.9 million to $4.3 million, up from $3.8 million in '08.

The Edgewood-based company has bids out on about $350 million worth of commercial and military airplane contracts. But investors have not gotten aboard for a ride. CPI shares hover around $6, and the company has not found any analysts interested in following it.