Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q2 2018 Earnings Presentation
15 slides from Cpi Aerostructures's earnings presentation, Aug 8, 2018
Slide 1: Q2 2018 Results Presentation
NYSE American : CVU Q2 2018 Results Presentation A Premier Supplier of Aircraft Structures and Systems August 8, 2018 Speakers: Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer Disclosure Statements Forward - Looking Statements This presentation conta
Slide 2: Forward-Looking Statements and ASC 606 Adoption
nology and product development risks and uncertainties, product performance, increasing consolidation of customers and suppliers in the aerospace industry and costs resulting from changes to and compliance with applicable regulatory requirements . The information contained in this presentation is qu
Slide 3: Recent Highlights
3 Recent Highlights Douglas McCrosso n President & Chief Executive Officer
Slide 4: Backlog
Backlog 4 Consolidated Backlog at 6/30/2018: $360.2 Million Defense Backlog at $283.2 Million $283.2M $77.0M Defense Commercial Defense 79% / Commercial 21% 1Q 2014 – 2Q 2018 $ 69.9M $ 290.3M Funded Unfunded Unfunded backlog represents remaining potential value of long term agreements Funded 19% / U
Slide 5: Driven By Renewed Strength in Defense Business
Driven By Renewed Strength in Defense Business 5 Recent wins account for $277 million in backlog as of June 30, 2018 Offers revenue visibility into 2022 and beyond E - 2D Advanced Hawkeye/ C - 2A Greyhound U.S Government F - 16 Falcon Northrop Grumman T - 38C Talon Trainer Lockheed Martin F - 35 Loc
Slide 6: 2Q 2018 Financial Highlights
2Q 2018 Financial Highlights Vincent Palazzolo Chief Financial Officer
Slide 7: Recent Financial Highlights
Recent Financial Highlights 7 For the Three Months Ended June 30 201 8 2017 (Unaudited) (Unaudited) Revenue $20.3 $16.7 Cost of revenue 15.7 $13.0 Gross profit 4.6 3.7 Selling, general and administrative expenses 2.6 2.0 Income from operations 2.0 1.7 Income before provision for income taxes 1.6 1.2
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 As of June 30, 2018 Contract Assets $115.2 Total Debt 35.9 Shareholders’ Equity 77.3 Book Value, per share 8.7 Debt - to - Capital 0.46 ($ in Millions, except per share value) Liquidity • $40 million, 3 - year senior debt facility − $10 million term loan − $30 million revo
Slide 9: 2018 Financial Guidance
2018 Financial Guidance (ASC 606 basis) 9 Revenue Pre - tax Income Effective Tax Rate • $82.0 – $85.0M • $8.0M – $8.2M • 19% – 21%
Slide 10: Looking Ahead
10 Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 11: Bid Pipeline
Bid Pipeline (08/01/18) 11 Virtually all bids are at the Prime Contractor or Tier 1 level Defense opportunities are increasing Continued Diversification Across Product Categories 89% 11% Defense Commercial 14% 5% 53% 28% Kitting MRO Aerostructures Aerosystems
Slide 12: Near-Term Program Opportunities
Near - Term Program Opportunities KITTING & SUPPLY CHAIN MANAGEMENT AEROSTRUCTURES • Foreign Sales of F - 16 Wing Components • T - 38 Trainer Upgrades • Outer Wing Panel Kits Multi Year 2 Contract US Navy E - 2D • Wet Outer Wing Panel Kits for Japanese E - 2D • Various Military Helicopters • A - 10
Slide 13: Large and Diversified Backlog Drives Strong Visibility
Large and Diversified Backlog Drives Strong Visibility ‘08 ‘09 ’10 ’11 ’12 ’13 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 ‘23 ‘24 ‘25 S - 92 F - 16 DB - 110 ISR Pod T a cS A R Japan E - 2D CH - 148 Defense Commercial Potential to collectively generate revenue of $ 360.2 million during the remaining periods
Slide 14: Q&A Session
14 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 Investor Relations (212) 838 - 3777 cpiaero@lhai.com 15