Techprecision Corporation ( (TPCS) ) has released its Q2 earnings. Here is a breakdown of the information Techprecision Corporation presented to its investors.
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TechPrecision Corporation is a custom manufacturer specializing in precision, large-scale fabrication and machined metal structural components, primarily serving the defense and precision industrial markets.
The company recently released its financial results for the second quarter of fiscal year 2025, highlighting a year-over-year revenue increase and ongoing customer confidence. Despite this growth, challenges in manufacturing costs and operational disruptions impacted overall profitability.
Key financial metrics for the quarter included a 12% revenue increase to $8.9 million, driven by favorable project mixes at its Ranor and Stadco subsidiaries. However, the cost of revenue rose by 14%, resulting in a slight decrease in gross profit. The quarter ended with a net loss of $0.6 million, attributed to higher costs at Stadco and legacy pricing issues.
For the six months ending September 30, 2024, revenue rose by 10% to $16.9 million, though gross profit fell by 28% due to increased production costs and delayed maintenance. The company reported a net loss of $2.1 million for this period, as it continues to address cost challenges at Stadco.
Looking ahead, TechPrecision’s management remains optimistic about delivering its $48.6 million backlog over the next one to three fiscal years, expecting an expansion in gross margins as they navigate current operational challenges.
