CPI Aero(US:CVU)2025-03-31 21:27Revenue Performance - Revenue for Q4 2024 was $21.8 million, down from $23.5 million in Q4 2023, while full year revenue decreased to $81.1 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 $1.0 million, significantly lower than $14.8 million in Q4 2023, with full year net income at $3.3 million compared to $17.2 million[4][7]. - Earnings per share (EPS) for Q4 2024 was $0.08, down from $1.20 in Q4 2023, and for the full year, EPS decreased to $0.26 from $1.40[7]. - Adjusted EBITDA for Q4 2024 was $2.3 million, up from $1.8 million in Q4 2023, while full year adjusted EBITDA increased to $7.8 million from $7.5 million[7]. Cash Flow and Debt Management - Cash flow from operations for 2024 was $3.6 million, compared to $3.9 million in 2023, with total cash from operations for the year at $4.4 million[5][7]. - The company reduced its debt by $2.7 million in 2024, achieving a debt balance of $17.4 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].