Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q1 2018 Earnings Presentation
15 slides from Cpi Aerostructures's earnings presentation, May 15, 2018
Slide 1: Q1 2018 Results Presentation
NYSE American : CVU Q1 2018 Results Presentation A Premier Supplier of Aircraft Structures and Systems May 15, 2018 Speakers: Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer
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 3/31/2018: $ 373.3 Million Defense Backlog at $292.7 Million $292.7 $80.5 Defense Commercial Defense 78% / Commercial 22% 1Q 2014 – 1Q 2018 $56.8 $316.5 Funded Unfunded Unfunded backlog represents remaining potential value of long term agreements Funded 15% / Unfund
Slide 5: Driven By Renewed Strength in Defense Business
Driven By Renewed Strength in Defense Business 5 Recent wins account for $286 million in backlog as of March 31, 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 Lo
Slide 6: 1Q 2018 Financial Highlights
6 1Q 2018 Financial Highlights Vincent Palazzolo Chief Financial Officer
Slide 7: Recent Financial Highlights
Recent Financial Highlights 7 For the 3M Ended March 31 , 201 8 201 7 (Unaudited) (Unaudited) Revenue $ 18.2 $ 20.0 Cost of revenue 14.1 15.5 Gross profit 4.0 4.5 Selling, general and administrative expenses 2.0 2.2 Income from operations 2.0 2.4 Net income $1.3 $1.2 Income per common share – basic
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 As of March 31 , 2018 Contract Assets 114.0 Total Debt 33.5 Shareholders’ Equity 75.9 Book Value, per share 8.51 Debt - to - Capital 0.44 ($ in Millions, except per share value) Liquidity • $40 million, 3 - year senior debt facility − $10 million term loan − $30 million re
Slide 9: 2018 Financial Guidance (ASC basis)
2018 Financial Guidance (ASC 606 basis) 9 Revenue Pre - tax Income Effective Tax Rate • $92.0M – $96.0M • $9.1M - $9.6M • 19% - 21%
Slide 10: Looking Ahead
10 Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 11: Bid Pipeline
Bid Pipeline ( 05/10/18 ) 11 Virtually all bids are at the Prime Contractor or Tier 1 level Defense opportunities are increasing Continued Diversification Across Product Categories 97% 3% Defense Commerical 50% 3% 17% 30% Kitting MRO Aerostructures Aerosystems
Slide 12: Near-Term Program Opportunities
Near - Term Program Opportunities 12 Aerostructures • Military Helos : CH - 53K, V - 280 • Various regional airline and bizjet aircraft • A - 10 Wing Replacement Program (WRP) • Various Black Hawk components/structural repairs Aerosystems • Reconnaissance Pods • Electronic Warfare Pods • Advanced an
Slide 13: Long-Term Visibility - Contracts
Potential to collectively generate revenue of $ 373.3M during their remaining periods of performance (as of 03/31/18) Long - Term Visibility - Contracts ‘08 ‘09 ’10 ’11 ’12 ’13 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 ‘23 ‘24 ‘25 EMBRAER – E175 - E2 RAYTHEON – Next Generation Jammer Increment 1 Pod SIKOR
Slide 14: Q&A Session
CPL zs Q&A Session
Slide 15: Thank You
15 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