Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q2 2017 Earnings Presentation
15 slides from Cpi Aerostructures's earnings presentation, Aug 8, 2017
Slide 1: 2Q 2017 Results Presentation
NYSE MKT: CVU 2Q 2017 Results Presentation A Premier Supplier of Aircraft Structures and Systems Speakers: Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer August 8, 2017
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 06/30/2017: $394.8 Million* Defense Backlog at $314.3 Million $314.3M $80.5M Defense Commercial Defense 80% / Commercial 20% 2Q 2014 - 2Q 2017 $90.5M $304.2M Funded Unfunded Unfunded backlog represents remaining potential value of long term agreements Funded 23% / U
Slide 5: Driven By Renewed Strength in Defense Business
Driven By Renewed Strength in Defense Business 5 Recent wins account for $ 233 million in backlog as of June 30, 2017 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 - 35A N
Slide 6: Financial Highlights
6 Financial Highlights Vincent Palazzolo Chief Financial Officer
Slide 7: Recent Financial Highlights
Recent Financial Highlights 7 For the Three Months Ended June 30 , 201 7 201 6 (Unaudited) (Unaudited) Revenue $16.7 $22.3 Cost of sales 13.0 17.2 Gross profit (loss) 3.7 5.0 Selling, general and administrative expenses 2.0 1.9 Income (loss) from operations 1.7 3.2 Income (loss) before provision for
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 As of June 30, 2017 CEE (unbilled receivables) 101.7 Total Debt 33.9 Shareholders’ Equity 70.3 Book Value, per diluted share 7.96 Debt - to - Capital 0.66 ($ in Millions, except per share value) Liquidity • $40M, 3 - year senior debt facility − $10M term loan − $30M revolv
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 • Anticipated to be at high end of range • Approximately 37 %
Slide 10: Looking Ahead
10 Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 11: Bid Pipeline
Bid Pipeline (7/31/17 ) 11 Virtually all bids are at the Prime Contractor or Tier 1 level Defense opportunities are increasing Continued Diversification Across Product Categories 88% 12% Defense Commerical 26% 4% 39% 31% 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 Wing Replacement Program ( WRP ) • F - 35 • MRO: F - 16 service - life extension program (SLEP) • Various Black Hawk components/structural repairs Aerosys
Slide 13: Long-Term Visibility - Contracts
Long - Term Visibility - Contracts ‘08 ‘09 ’10 ’11 ’12 ’13 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 ‘23 ‘24 ‘25 Firm, Funded Contracts Provide Long - Term Revenue Visibility and Operating Leverage EMBRAER – E175 - E2 RAYTHEON – Next Generation Jammer Increment 1 Pod SIKORSKY – UH - 60 Black Hawk SIKORSKY
Slide 14: Q&A Session
CPL seas 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 (212) 838 - 3777 cpiaero@lhai.com