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TechPrecision .(TPCS) - 2025 Q1 - Quarterly Results
TPCSTechPrecision .(TPCS)2024-09-16 20:31
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Financial Performance - Q4 FY2024 consolidated net sales were 8.6million,a158.6 million, a 15% increase from 7.5 million in Q4 FY2023 [3]. - Stadco's net sales in Q4 FY2024 reached 4.6million,representinga704.6 million, representing a 70% increase year-over-year [3]. - For the full fiscal year 2024, consolidated net sales were 31.6 million, a 1% increase compared to 31.4millioninFY2023[5].−ConsolidatednetsalesforthethreemonthsendedMarch31,2024,increasedby1531.4 million in FY2023 [5]. - Consolidated net sales for the three months ended March 31, 2024, increased by 15% to 8,600,000 compared to 7,505,000forthesameperiodin2023[11].−Stadcosegmentnetsalesrosesignificantlyby707,505,000 for the same period in 2023 [11]. - Stadco segment net sales rose significantly by 70% to 4,625,000 for the three months ended March 31, 2024, compared to 2,719,000intheprioryear[11].−ForthetwelvemonthsendedMarch31,2024,consolidatednetsaleswere2,719,000 in the prior year [11]. - For the twelve months ended March 31, 2024, consolidated net sales were 31,591,000, a slight increase of 1% from 31,432,000in2023[12].ProfitabilityandLoss−GrossprofitforQ4FY2024was31,432,000 in 2023 [12]. Profitability and Loss - Gross profit for Q4 FY2024 was 1.2 million, a 45% increase from 847,883inQ4FY2023[4].−ConsolidatedgrossprofitforthethreemonthsendedMarch31,2024,was847,883 in Q4 FY2023 [4]. - Consolidated gross profit for the three months ended March 31, 2024, was 1,228,000, a 45% increase from 848,000inthesameperiodof2023[11].−OperatinglossforFY2024was848,000 in the same period of 2023 [11]. - Operating loss for FY2024 was 4.6 million, compared to a loss of 1.1millioninFY2023[5].−NetlossforFY2024was1.1 million in FY2023 [5]. - Net loss for FY2024 was 7.0 million, compared to a net loss of 979,006inFY2023[10].−TheRanorsegmentreportedanetlossof979,006 in FY2023 [10]. - The Ranor segment reported a net loss of 7,042,172 for the year ended March 31, 2024, compared to a net loss of 979,006inthepreviousyear[13].−EBITDAforthetwelvemonthsendedMarch31,2024,was979,006 in the previous year [13]. - EBITDA for the twelve months ended March 31, 2024, was (2,160,000), a decrease from 1,790,000 in the previous year [14]. Expenses and Liabilities - SG&A expenses rose to 3.7 million in Q4 FY2024, primarily due to a 1.1millionbreakupfeerelatedtotheterminatedVotawacquisition[4].−Totalliabilitiesincreasedto1.1 million breakup fee related to the terminated Votaw acquisition [4]. - Total liabilities increased to 26.9 million as of March 31, 2024, compared to 21.6millionayearearlier[9].−Thecompanyincurreddepreciationandamortizationexpensesof21.6 million a year earlier [9]. - The company incurred depreciation and amortization expenses of 2,429,377 for the year ended March 31, 2024, compared to 2,217,472inthepreviousyear[13].−ThenetcashusedininvestingactivitiesfortheyearendedMarch31,2024,was2,217,472 in the previous year [13]. - The net cash used in investing activities for the year ended March 31, 2024, was 3,168,293, compared to 2,318,301in2023[13].CashFlowandFinancialPosition−AsofMarch31,2024,thecompanyhad2,318,301 in 2023 [13]. Cash Flow and Financial Position - As of March 31, 2024, the company had 0.1 million in cash, a decrease of 0.4millionfromthepreviousyear[6].−CashflowsfromoperatingactivitiesfortheyearendedMarch31,2024,provided0.4 million from the previous year [6]. - Cash flows from operating activities for the year ended March 31, 2024, provided 1,304,864, down from 3,137,838in2023[13].−Thecompanyreportedasignificantincreaseincontractliabilities,totaling3,137,838 in 2023 [13]. - The company reported a significant increase in contract liabilities, totaling 1,454,342 for the year ended March 31, 2024, compared to 568,273in2023[13].BacklogandCustomerConfidence−Backlogincreasedto568,273 in 2023 [13]. Backlog and Customer Confidence - Backlog increased to 50 million, indicating strong customer confidence [2].