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CPS Technologies Corporation Announces Fourth Quarter 2023 Financial Results [Yahoo! Finance]

CPS Technologies Corp. (CPSH) 
US:NASDAQ Investor Relations: alsic.com/investors
Company Research Source: Yahoo! Finance
NORTON, Mass., March 06, 2024 (GLOBE NEWSWIRE) -- CPS Technologies Corporation (NASDAQ:CPSH) (“CPS” or the “Company”) today announced financial results for the fiscal fourth quarter ended December 30, 2023. Fourth Quarter Highlights Revenue of $6.7 million for the fourth quarter of 2023 versus $6.1 million in the prior-year period, primarily due to growth in shipments Gross margin of 17.0 percent versus 26.6 percent in the fourth quarter of 2022, reflecting certain quality issues with a major customer Operating profit of $0.1 million for the quarter ended December 30, 2023 compared to $0.3 million in the prior-year period “We finished the year with the highest annual revenue in the Company's history – $27.6 million – driven by 10 percent growth in the fourth quarter versus the prior-year period,” said Brian Mackey, President and CEO. “We are cautiously optimistic that the quality issues previously disclosed have been largely mitigated and should not have a material impact o Show less Read more
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