Douglas McCrosson

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…