CPS Technologies Q2 posts operating loss on higher SG&A expenses - CPSH News | RalliesCPS Technologies Q2 posts operating loss on higher SG&A expenses
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CPSH• Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | Beat | $8.30 mln | $8.20 mln (1 Analyst) |
| Q2 Gross Margin | | 14.80% | |
| Q2 Gross Profit | | $1.22 mln | |
| Q2 Operating Income | | -$200,000 | |
Analyst coverage
- The one available analyst rating on the shares is "buy"
- The average consensus recommendation for the electrical components & equipment peer group is "buy"
- Wall Street's median 12-month price target for CPS Technologies Corp is $5.50, about 34.8% above its August 3 closing price of $4.08
- The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 39 three months ago
Quarterly results
- US advanced materials maker's fiscal Q2 revenue rose 2% yr/yr to $8.3 mln
- Company posted operating loss for Q2 as SG&A expenses increased yr/yr
- Company raised in secondary offering to fund growth and facility move
$9.6 mln
Outlook and business drivers
- CPS plans to move to new manufacturing facility in coming quarters
- Company expects expanding opportunities in defense, space, energy, and commercial markets
- PRODUCT DEMAND - Co said increased Q2 revenue reflected strong overall product demand
- HIGHER SG&A - Co attributed operating loss to a $0.3 mln yr/yr increase in selling, general, and administrative expenses
