Overview

* TechPrecision ( TPCS ) fiscal Q2 net income rises to $0.8 mln, reversing a loss last year

* Revenue for fiscal Q2 rises 2% to $9.1 mln, driven by higher Stadco sales

* Gross profit increases to $2.5 mln, driven by improved operating performance

Outlook

* TechPrecision ( TPCS ) expects to deliver $47.8 mln backlog over the next 1-3 yrs

* Company anticipates gross margin improvement over the next 1-3 yrs

Result Drivers

* FAVORABLE PROJECT MIX - Improved gross margins and gross profit attributed to favorable project mix at Ranor and Stadco

* COST REDUCTION - Lower cost of revenue due to favorable product mix at Ranor and Stadco

* BACKLOG GROWTH - Customer confidence remains high with backlog reaching $47.8 mln, expected to drive future revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales $9.1 mln

Q2 Gross $2.5 mln

Profit

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)