Cpi aerostructures reports first quarter 2023 results

First quarter 2023 vs. first quarter 2022 revenue of $22.0 million compared to $20.1 million; gross profit of $4.7 million compared to $3.4 million; gross profit margin of 21.2% compared to 17.1%; net income of $1.0 million compared to net loss of $(32,931) (excluding a first quarter 2022 $0.8 million severance accrual, the first quarter of 2022 would have been net income of $0.8 million); earnings per share of $0.08 compared to loss per share of $(0.00) (excluding a first quarter of 2022 $0.06 per share severance accrual, the first quarter of 2022 would have been $0.06 per share); cash flow from operations of $0.9 million compared to a use of $(2.4) million; debt as of march 31, 2023 of $22.1 million compared to $22.8 million as of december 31, 2022.
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