The following is a summary of the CPS Technologies Corporation (CPSH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CPS Technologies reported Q4 revenue of $6.7 million, marking a significant year-over-year growth from $6.1 million last year.

• Gross profit for the quarter was $1.1 million, approximately 17% of sales, down from $1.6 million or 27% of sales due to a quality issue with a major customer.

• Operating income of $144,000 was achieved in this quarter, compared to $309,000 in the previous year.

• The company ended the year with a cash balance of $8.8 million, an increase from last year's $8.3 million.

Business Progress:

• The company is completing its armor contract for the U.S. carrier fleet, with prospects of securing work for more Navy vessels.

• After a quality issue led to significant losses, CPS Technologies has seen signs of improvement and expects minimal impact on 2024's financials.

• Future investment opportunities have been identified including in Fiber Reinforced Aluminum and a $200,000 grant from the MMAP State.

• CPS Technologies plans to increase factory throughput to improve margins and utilise its cash balance for company growth.

• The manufacturing license agreement with Triton Systems and a 5-axis CNC machine funded by the Massachusetts Manufacturing Accelerate Program are set to expand the company's capabilities and end markets.

More details: CPS Technologies IR

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