Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q1 2017 Earnings Presentation
15 slides from Cpi Aerostructures's earnings presentation, May 9, 2017
Slide 1: 1Q 2017 Results Presentation
1Q 2017 Results Presentation May 9, 2017 A Premier Supplier of Aircraft Structures and Systems Speakers : Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer NYSE MKT: CVU
Slide 2: Disclosure Statement: Forward-Looking Statements
Disclosure Statement Forward - Looking Statements This presentation contains forward - looking statements that involve risks and uncertainties . All statements, other than statements of historical fact, included in this presentation, including without limitation, statements regarding projections, fu
Slide 3: Recent Highlights
3 Recent Highlights Douglas McCrosso n President & Chief Executive Officer
Slide 4: Backlog
Backlog 4 Consolidated Backlog at 03/31/2017: $400.8 Million Defense Backlog at $314 Million $314.3M $86.6M Defense Commercial Defense 78% / Commercial 22% $86.6 M $314.3 M $400.8 M $50 $150 $250 $350 $450 Q1 2014 Q1 2015 Q1 2016 1Q 2017 Backlog (Defense/Commercial ) Commercial Defense Total Backlog
Slide 5: Driven By Renewed Strength in Defense Business
Driven By Renewed Strength in Defense Business 5 Recent wins account for $251 million in backlog as of March 31, 2017 Offers revenue visibility into 2022 and beyond Contract Period 2013 – 2021 Contract Period 2016 – 2019 Contract Period 2015 – 2021 Contract Period 2014 – 2020 Contract Period 2015 –
Slide 6: Financial Highlights
6 Financial Highlights Vincent Palazzolo Chief Financial Officer
Slide 7: Recent Financial Highlights
Recent Financial Highlights 7 For the 3 months Ended March 31, 201 7 201 6 (Unaudited) (Unaudited) Revenue $20.0 $12.7 Cost of sales 15.5 24.3 Gross profit (loss) 4.5 (11.6) Selling, general and administrative expenses 2.2 2.7 Income (loss) from operations 2.4 (14.4) Income (loss) before provision f
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 As of March 31, 2017 CEE (unbilled receivables) 101.9 Total Debt 35.0 Shareholders’ Equity 69.3 Book Value, per diluted share 7.86 Debt - to - Capital 0.51 ($ in Millions, except per share value) Liquidity • $40M, 3 - year senior debt facility − $10M term loan − $30M revol
Slide 9: 2017 Financial Guidance
2017 Financial Guidance 9 Revenue Pre - tax Income Effective Tax Rate • $82.5M – $87.0M • Award of certain defense programs offer possibility for upside • $8.1M - $8.5M • Potential to achieve high end of range • Approximately 37 %
Slide 10: Looking Ahead
10 Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 11: Bid Pipeline (5/3/2017)
Bid Pipeline (5/3/2017) 11 Virtually all bids are at the Prime Contractor or Tier 1 level Defense opportunities are increasing Continued Diversification Across Product Categories 94% 6% Defense Commerical 31% 4% 30% 35% Kitting MRO Aerostructures Aerosystems
Slide 12: Near-Term Program Opportunities
Near - Term Program Opportunities 12 Aerostructures • Military Helos : CH - 53K, V - 280 • Various regional airliner and bizjet aircraft • A - 10 thick skin urgent spares kitting ( TUSK) • F - 35 • MRO : F - 16 service - life extension program ( SLEP) • Various Black Hawk components/structural repai
Slide 13: Long-Term Visibility - Contracts
Long - Term Visibility - Contracts Potential to collectively generate revenue of $400.8M during their remaining periods of performance (as of 3/31/17) Firm, Funded Contracts Provide Long - Term Revenue Visibility and Operating Leverage TRIUMPH GROUP - Gulfstream G650 SIKORSKY – UH - 60 Black Hawk U.
Slide 14: Q&A Session
CPL ict Q&A Session
Slide 15: Thank You
Thank You CPI Aerostructures Vincent Palazzolo, Chief Financial Officer (631) 586 - 5200 www.cpiaero.com Investor Relations Sanjay M. Hurry LHA (212) 838 - 3777 cpiaero@lhai.com 15