Business
TechPrecision Corporation Reports FY 2025 Third Quarter Financial Results
Ranor records another profitable quarter, customer confidence remains high Management to host conference call at 4:30 p.m. ET on Tuesday, April 8, 2025 WESTMINSTER, MA / ACCESS Newswire / April 8, 2025 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" ...
About this update from Techprecision Corporation
[{"type":"text","content":"Ranor records another profitable quarter, customer confidence remains high","length":74,"tagName":"p"},{"type":"text","content":"Management to host conference call at 4:30 p.m. ET on Tuesday, April 8, 2025","length":76,"tagName":"p"},{"type":"text","content":"WESTMINSTER, MA / ACCESS Newswire / April 8, 2025 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" or "the Company"), a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components, today reported financial results for the third quarter ended December 31, 2024. The components that we manufacture are customer designed and we sell to customers in two main industry sections: defense and precision industrial markets.","length":518,"tagName":"p"},{"type":"text","content":"Management will host a conference call on Tuesday, April 8, 2025 at 4.30 p.m. ET, to discuss our financial results for the quarter ended December 31 , 2024.","length":156,"tagName":"p"},{"type":"text","content":""Third quarter consolidated revenue was $7.6 million, a decrease of less than 1% when compared to the fiscal 2024 third quarter. Our fiscal third quarter is seasonally characterized with higher under-absorbed overhead. Our Ranor segment experienced a favorable project mix enabling us to sustain operating profitability. In contrast, our Stadco segment is continuing to work through remaining legacy pricing problems on core business, with an unfavorable project mix for the quarter coupled with under-absorbed overhead." stated Alexander Shen, TechPrecision's Chief Executive Officer. "Customer confidence remains high as our backlog was $45.5 million on December 31, 2024. We expect to deliver our backlog over the course of the next one to three fiscal years with gross margin expansion."","length":815,"tagName":"p"},{"type":"text","content":"The following summary compares the three and nine months ended December 31, 2024 to the same prior year period:","length":111,"tagName":"p"},{"type":"text","content":"Consolidated Financial Results - Fiscal 2025 Three Months Ended December 31, 2024","length":81,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue was $7.6 million, a decrease of less than 1% when compared to revenue of $7.7 million a year ago.","length":10...