CPS Technologies Corporation Announces Preliminary Revenues for the Fourth Quarter of 2013
09 Gennaio 2014 - 2:00PM
Marketwired
CPS Technologies Corporation Announces Preliminary Revenues for the
Fourth Quarter of 2013
NORTON, MA--(Marketwired - Jan 9, 2014) - CPS Technologies
Corporation (OTCQB: CPSH) today announced preliminary revenues of
$5.0 million for the fourth quarter ended December 28, 2013. This
compares with revenues of $4.2 million for the quarter ended
December 29, 2012. The Company is making this pre-release in
conjunction with a presentation it will be making at Sidoti's
Micro-Cap Investor Conference in New York City next week.
Commenting on these results, Grant Bennett, President and CEO,
said, "The fourth quarter brings our revenues for 2013 to over $21
million, about a 50% increase over revenues of $14.1 million in
2012, when we encountered a perfect storm of adverse conditions. In
addition to sales growth, I am pleased that we ended the year with
a cash balance of over $1.5 million and with zero bank debt as we
were able to pay off the $500 thousand of borrowings owed at the
end of 2012."
Mr. Bennett continued, "As we look forward to 2014 and beyond,
we see a multitude of opportunities for continued growth. Some are
in our major markets of traction and hybrid electric and electric
vehicles, both markets of which are expect to grow significantly
over the next 5 to 10 years. We also see substantial opportunities
in the armor and military sectors where our technology of combining
metals with ceramics creates particular advantages. Finally, we
continue to see opportunities for geographic expansion,
particularly in Japan, but also in other regions of the world. Our
strategy is to continue to earn profits and generate cash from our
base business, while allocating additional resources to take
advantage of the most attractive growth opportunities."
Mr. Bennett will be presenting the CPS story at Sidoti's
Conference at the Grand Hyatt Hotel in New York on Monday, January
13th from 8:40am to 9:15am EST.
About CPS
CPS Technologies Corporation is a global leader in producing
metal-matrix composite components used to improve the reliability
and performance of various electrical systems. CPS products are
used in motor controllers for hybrid and electric vehicles,
high-speed trains, subway cars and wind turbines. They are also
used as heatspreaders in internet switches, routers and
high-performance microprocessors. CPS also develops and produces
metal-matrix composite armor.
CPS Technologies Corporation Ralph Norwood Chief Financial
Officer 111 South Worcester Street Norton, MA 02766 Telephone:
(508) 222-0614 Web Site: www.alsic.com
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