CPI Aerostructures

Orbit rises above ‘issues,’ but Lifetime suffers 3Q loss

  ORBIT INTERNATIONAL CORP. Headquarters: Hauppauge Industry: Capital goods OTC: ORBT Reporting Date: Nov. 9, 2017 Reporting Quarter: 3Q FY2017 Quarter Ended: Sept. 30, 2017 Numbers: Net sales were reported as $5.00 million, down 8.8 percent from the $5.48 million reported for 3Q FY2016. But year-over-year reported net income rose – from $455,000 (11 cents per diluted share) to $699,000 (19 cents per diluted share) – and earnings before EBITDA held virtually steady ($507,000 and…


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…