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CPI Aero(CVU) - 2024 Q4 - Annual Results
CVUCPI Aero(CVU)2025-03-31 21:27

Revenue Performance - Revenue for Q4 2024 was 21.8million,downfrom21.8 million, down from 23.5 million in Q4 2023, while full year revenue decreased to 81.1millionfrom81.1 million from 86.5 million[7]. Profitability Metrics - Gross profit margin improved by 150 basis points to 20.0% in Q4 2024, and for the full year, gross margin increased to 21.3% from 19.7%[4][7]. - Net income for Q4 2024 was 1.0million,significantlylowerthan1.0 million, significantly lower than 14.8 million in Q4 2023, with full year net income at 3.3millioncomparedto3.3 million compared to 17.2 million[4][7]. - Earnings per share (EPS) for Q4 2024 was 0.08,downfrom0.08, down from 1.20 in Q4 2023, and for the full year, EPS decreased to 0.26from0.26 from 1.40[7]. - Adjusted EBITDA for Q4 2024 was 2.3million,upfrom2.3 million, up from 1.8 million in Q4 2023, while full year adjusted EBITDA increased to 7.8millionfrom7.8 million from 7.5 million[7]. Cash Flow and Debt Management - Cash flow from operations for 2024 was 3.6million,comparedto3.6 million, compared to 3.9 million in 2023, with total cash from operations for the year at 4.4million[5][7].−Thecompanyreduceditsdebtby4.4 million[5][7]. - The company reduced its debt by 2.7 million in 2024, achieving a debt balance of 17.4million,thelowestsince2011[5].−TheDebt−to−AdjustedEBITDARatioatyear−endwas2.2,markingtheeighthconsecutivequarter−endbelow3.0[5].FutureOutlook−Thebacklogatyear−end2024was17.4 million, the lowest since 2011[5]. - The Debt-to-Adjusted EBITDA Ratio at year-end was 2.2, marking the eighth consecutive quarter-end below 3.0[5]. Future Outlook - The backlog at year-end 2024 was 510 million, including new program awards from L3Harris, Raytheon, and Embraer[6]. - The company remains confident in its long-term outlook and plans to capitalize on future opportunities while strengthening customer relationships[8].