CPI Aero(US:CVU)2019-03-13 12:38Financial Performance & Highlights - CPI Aero's consolidated backlog at the end of 2018 reached $457.4 million, a 17.7% year-over-year increase[7] - The company's defense backlog hit a record $386.4 million, a 65% increase since mid-2014[7] - For the year 2018, revenue was $83.9 million compared to $81.3 million in 2017[11] - Net income for 2018 was $2.3 million, or $0.24 per diluted share, compared to $5.8 million, or $0.65 per diluted share in 2017[11] - The company raised $16.1 million (net) via a public offering on October 19, 2018[12] Future Outlook & Guidance - CPI Aero anticipates revenue between $98.0 million and $102.0 million for 2019, compared to $83.9 million in 2018[14] - Pre-tax income is projected to be between $11.0 million and $11.3 million for 2019, compared to $6.8 million in 2018[14] - The company expects cash flow from operations to be $3.5 million or greater in 2019, compared to $(2.5) million in 2018[14] Strategic Initiatives & Business Development - CPI Aero closed the acquisition of Welding Metallurgy, Inc (WMI)[6] - The company's product sales growth outpaced reported revenue for the second consecutive year, with a 2016-2018 product sales CAGR of 6.9%[6] - The company is focused on defense programs, which is yielding a large and growing backlog[10]