CPI Aerostructures

Steady sales, rising earnings mark Park Electro’s 2Q

  PARK ELECTROCHEMICAL CORP. Headquarters: Melville Industry: Composites manufacturing NYSE: PKE Reporting Date: Oct. 4, 2018 Reporting Quarter: 2Q FY2019 Quarter Ended: Aug. 26, 2018 Numbers: Net quarterly sales were reported as $11.21 million, down 1.3 percent from the $11.35 million reported for the same quarter last fiscal year. Net second-quarter earnings were reported as $1.82 million, up more than 123 percent from the $816,000 reported for 2Q FY2018. Diluted earnings per share for the…


No. 330: Fine wines, twice the coding, a $10M score for Central Islip and littering on Venus

Spend your bread, lose your head: You’ve done the five-day drag once more, dear readers, and if you’ve had Friday on your mind, congratulations – you’ve made it. It’s Aug. 10 out there, also known as International Biodiesel Day, marking the date in 1893 when German mechanical engineer Rudolph Diesel used nothing but peanut oil to power a simple engine. Mean time: Construction began on Aug. 10, 1675, on the Royal Observatory in Greenwich –…


No. 292: CEBIP cleans up, Biscotti makes a move and Albany’s new Life Sciences panel comes up short on Long Island

You made it: The week and the winter did their best, dear readers, but you’ve prevailed – welcome to March 23, and a clearly shoveled path to a well-earned weekend. This week’s spring blizzard was frustrating and all, but still nothing like the Great Blizzard of 1888, another March madness that blew in on 80 mph winds, dumped nearly five feet of snow on Saratoga Springs, crippled the Boston-NYC corridor for three days and buried…


No. 257: Kids at work, cereal milk and crack pie, doing the math and selling Dylan’s guitar

A happy end of the week: Welcome once again to Friday, dear readers. While many of you are enjoying the start of a three-day weekend, please remember that doesn’t excuse you from sending complaints, compliments and hot story tips to editor@innovateli.com. Some of the best Innovate LI content this week came from our inbox. Who’s next? Day trader: It’s Nov 10, and that’s swell, but let’s skip ahead a day for a few interesting Veteran’s…


No. 256: Historic places, earning potential, winning students and will.i.am doing customer service

Good day, comrades: Take a bow this Nov. 8, dear readers, if you were around 100 years ago today, when Lenin, Trotsky and Stalin took over following Russia’s October Revolution of 1917. (Just, you know … bow carefully.) Welcome new readers Ted, Joseph, Diane and Daniel, and please share your thoughts at editor@innovateli.com. Story tips, corrections and back-pats gratefully accepted. Shed no tiers for them: Heartfelt congratulations to our friends at Uniondale law firm Farrell…


CPI Aero catches Lightning, again, with new F-35 deal

By GREGORY ZELLER // The world’s most advanced warplane will get a lift from a longtime Long Island defense contractor. Edgewood-based CPI Aerostructures Inc. has been awarded a $15.8 million contract by the Lockheed Martin Co. to manufacture assemblies that open and close cockpit canopies on all three variants of the F-35 Lightning II, a fifth-generation jet that combines advanced stealth capabilities with fighter-plane speed and agility. The multi-year deal, announced Monday by CPI Aero,…


A-10 charge blasts books, but CPI Aero set to soar

By GREGORY ZELLER // Don’t be fooled by the numbers at CPI Aerostructures Inc., which on Tuesday reported a dramatic decline in fourth-quarter and Fiscal Year 2016 revenues – but according to President and CEO Douglas McCrosson is following a well-considered, multiyear growth plan. Reporting on the fourth quarter of FY2016, which ended Dec. 31, the Edgewood-based aerospace manufacturer (Nasdaq: CVU) reported quarterly revenues of $24.3 million, down from the $31.6 million reported in the…


CEO: Despite turbulent 3Q, CPI Aero set to climb

A 19 percent drop in revenues and 29 percent dive in net income marked a third-quarter bottom-line stumble for CPI Aerostructures, though company officials – referencing a “front-loaded” 2014 contract – downplayed the “expected” declines. Reporting Tuesday on the third quarter of its 2016 fiscal year (ended Sept. 30), the Edgewood-based aerospace manufacturer also noted drops in gross profits (down 10.7 percent, to $5.6 million), pre-tax income (down 22.8 percent, to $2.7 million) and earnings…


In Sikorsky deal, cautious local optimism

By GREGORY ZELLER // Long Island aerospace manufacturers are reassessing their markets following word of Lockheed Martin’s $9 billion acquisition of Sikorsky Aircraft, but none expect the megadeal to hurt existing business. Some Island parts-makers, in fact, are already anticipating an uptick. The deal, announced earlier this week, is pending regulatory approvals and is expected to close late this year or in early 2016. The prospect of a giant Connecticut-based customer with long ties to regional…