CPI Aerostructures, Inc. (CVU) Financial Statements (2024 and earlier)

Company Profile

Business Address 200A EXECUTIVE DR
EDGEWOOD, NY 11717
State of Incorp. NY
Fiscal Year End December 31
Industry (SIC) 3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,8476,3096,0344,0524,1281,431
Cash and cash equivalents3,8476,3096,0344,0524,1281,431
Receivables8,4987,8585,0037,5059,0585,380
Inventory, net of allowances, customer advances and progress billings2,4934,0299,5685,8919,712 
Inventory2,4934,0299,5685,8919,712 
Contract with customer, asset, after allowance for credit loss27,38524,45919,73015,281113,333
Costs in excess of billings111,159
Other undisclosed current assets9766255352,1033,9732,413
Total current assets:43,19843,28040,86934,831140,205120,382
Noncurrent Assets
Operating lease, right-of-use asset6,5277,7974,0753,887
Nontrade receivables     435 
Property, plant and equipment1,1251,6472,5223,2832,5452,047
Intangible assets, net (including goodwill)1,7841,9092,0342,159  
Goodwill1,7841,7841,7841,784  
Intangible assets, net (excluding goodwill)  125250375  
Deferred income tax assets6,574   
Other noncurrent assets239373191179250188
Other undisclosed noncurrent assets     2791,567
Total noncurrent assets:16,24911,7268,8229,5083,5093,802
TOTAL ASSETS:59,44755,00649,69144,340143,714124,184
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,37516,53717,78710,57311,57617,151
Taxes payable511115109
Accounts payable8,03010,42912,0938,2009,90215,130
Accrued liabilities7,3456,1035,6942,3731,5581,911
Deferred revenue6,0025,1231,6513,562
Debt136215256385335176
Provision for loss on contracts      172
Estimated litigation liability 3,6003,003    
Billings in excess of cost75
Contract with customer, liability3,805
Other undisclosed current liabilities5,1896,2268,8666,46026,13924,672
Total current liabilities:30,30231,10428,55920,98041,85442,245
Noncurrent Liabilities
Long-term debt and lease obligation, including:207423678546593555
Long-term debt, excluding current maturities19,8711,5416,2051,7653,8767,019
Other undisclosed long-term debt and lease obligation (19,664)(7,564)(8,064)(3,815)(3,284)(6,464)
Liabilities, other than long-term debt5,077   4,560607
Deferred tax liabilities, net4,029 
Other liabilities     531607
Operating lease, liability5,0776,4462,5372,597
Other undisclosed noncurrent liabilities 19,66422,36826,26530,5543,2846,464
Total noncurrent liabilities:24,94829,23629,48131,1008,4367,627
Total liabilities:55,25060,34158,04052,08050,29049,871
Equity
Equity, attributable to parent4,197(5,335)(8,349)(7,740)93,42374,313
Common stock13121212129
Additional paid in capital73,18972,83472,00671,29570,65153,771
Accumulated other comprehensive loss      (15)
Retained earnings (accumulated deficit)(69,005)(78,181)(80,367)(79,047)22,76020,549
Total equity:4,197(5,335)(8,349)(7,740)93,42374,313
TOTAL LIABILITIES AND EQUITY:59,44755,00649,69144,340143,714124,184

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues83,336103,37087,58587,51983,92981,283
Revenue, net81,283
Cost of revenue(67,032)(88,364)(75,491)(78,387)(65,765)(62,637)
Cost of goods and services sold      (62,637)
Gross profit:16,30415,00512,0949,13218,16418,646
Operating expenses(11,410)(11,824)(12,046)(11,563)(9,529)(8,450)
Operating income (loss):4,8943,18148(2,431)8,63510,196
Nonoperating income (expense) (2,271)3,654(1,422)(2,015)(1,961)(1,719)
Other nonoperating income (expense)  4,795 9029(20)
Interest and debt expense(2,271)4,795(1,422)(2,105)(1,989)(1,699)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:35211,630(2,796)(6,551)4,6856,779
Other undisclosed income (loss) from continuing operations before income taxes2,271(4,795)1,4222,1051,9891,699
Income (loss) from continuing operations before income taxes:2,6236,835(1,374)(4,446)6,6758,478
Income tax expense (benefit)6,553(15)54(4)(4,463)(2,710)
Income (loss) from continuing operations:9,1766,820(1,320)(4,450)2,2125,768
Income (loss) before gain (loss) on sale of properties:6,820(1,320)(4,450)2,2125,768
Net income (loss) available to common stockholders, diluted:9,1766,820(1,320)(4,450)2,2125,768

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):9,1766,820(1,320)(4,450)2,2125,768
Other comprehensive income     15 
Comprehensive income (loss):9,1766,820(1,320)(4,450)2,2265,768
Other undisclosed comprehensive loss, net of tax, attributable to parent      (6)
Comprehensive income (loss), net of tax, attributable to parent:9,1766,820(1,320)(4,450)2,2265,762

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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