TechPrecision Reports Q1 EPS Of $(0.06), Revenue Of $7.37M
Portfolio Pulse from Happy Mohamed
TechPrecision Corporation (TPCS) reported Q1 EPS of $(0.06) and revenue of $7.37M. Net sales increased by 4% to $7.4M, with a 26% increase at Stadco and a 5% decrease at Ranor. The cost of sales was $6.7M, 7% higher due to higher manufacturing costs at Ranor. Gross profit was $0.7M, 15% lower than the same period last year. The company had $0.3M in cash and cash equivalents, a decrease since March 31, 2023. Total debt was $7.6M.
August 21, 2023 | 8:19 pm
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NEGATIVE IMPACT
TechPrecision reported a net loss per share of $0.06 and a decrease in gross profit by 15%. The company's cash and cash equivalents decreased, and total debt increased to $7.6M.
TechPrecision reported a net loss per share, indicating a decrease in profitability. The decrease in gross profit and cash and cash equivalents, along with an increase in total debt, could negatively impact the company's financial health and potentially its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100