CPS Technologies Corporation Announces Third Quarter 2011 Results
(firmenpresse) - NORTON, MA -- (Marketwire) -- 11/10/11 -- CPS Technologies Corporation (OTCBB: CPSH), a provider of advanced material solutions, today announced revenues of $4.9 million and net income of $28 thousand for the third quarter ended October 1, 2011. These results compare with revenues of $6.0 million and net income of $421 thousand for the third quarter ended September 25, 2010. For the first three quarters of 2011, revenues totaled $15.6 million which generated $57 thousand of net income compared with revenues of $16.6 million and net income of $1.0 million for the first three quarters of 2010.
As was the case during the first half of 2011, the Company experienced continued reductions in shipments of lids and heatspreaders used in switches and routers. On a year-to-year comparison, these reductions were partially offset by increases in shipments of baseplates used in hybrid electric vehicles and traction applications as well as increased revenues earned from our cooperative agreement for armor development with the U.S. Army.
"Although revenues were lower than last year's record third quarter, we were pleased that we exceeded both revenues and profits of the previous quarter," said Grant Bennett, Chief Executive Officer of the Company. Mr. Bennett went on to say, "Our products have wide application in the areas of alternative energy and the movement to 'clean tech' which are both long-term and global in nature. In the near-term we are responding to worldwide economic uncertainties by improving efficiencies throughout the company, particularly manufacturing operations. Both these near and long-term factors give us confidence that we are well positioned to deliver future shareholder value."
About CPS Technologies Corporation:
CPS Technologies is the world leader in developing and manufacturing metal matrix composites for thermal management of electronics.
Safe Harbor Statement:
This release does contain forward looking statements. Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to, a continued or deepening general economic or business downturn in 2011 and beyond or a downturn in the demand for electronic products.
CPS Technologies Corporation
Ralph Norwood
Chief Financial Officer
111 South Worcester Street
Norton, MA 02766
Telephone: (508) 222-0614
Web Site:
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Datum: 10.11.2011 - 17:00 Uhr
Sprache: Deutsch
News-ID 1056118
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Electronic Components
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