Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q3 2017 Earnings Presentation
15 slides from Cpi Aerostructures's earnings presentation, Nov 8, 2017
Slide 1: 3Q 2017 Results Presentation
NYSE American : CVU 3Q 2017 Results Presentation A Premier Supplier of Aircraft Structures and Systems Speakers: Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer November 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 09/30/2017: $ 397.9 Million* Defense Backlog at $313.3 Million $313.3M $ 84.6M Defense Commercial Defense 79% / Commercial 21% 1Q 2014 - 3Q 2017 $100.6 $297.3M Funded Unfunded Unfunded backlog represents remaining potential value of long term agreements Funded 25% /
Slide 5: Driven By Renewed Strength in Defense Business
Driven By Renewed Strength in Defense Business 5 Recent wins account for $273 million in backlog as of September 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 - 3
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 September 30 , 201 7 201 6 (Unaudited) (Unaudited) Revenue $20.7 $22.1 Cost of sales 15.8 17.1 Gross profit (loss) 4.9 5.0 Gross margin % 23.7 22.7 Selling, general and administrative expenses 2.0 2.0 Income (loss) from operations 2.9 3.0 Inco
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 8 As of September 30, 2017 CEE (unbilled receivables) 108.4 Total Debt 32.7 Shareholders’ Equity 72.1 Book Value, per diluted share 8.15 Debt - to - Capital 0.45 ($ in Millions, except per share value) Liquidity • $40M, 3 - year senior debt facility − $10M term loan − $30M r
Slide 9: Updated 2017 Financial Guidance
Updated 2017 Financial Guidance 9 Revenue Pre - tax Income Effective Tax Rate • $82.5M – $ 87.0M • Revised to lower end of range • $8.1M - $8.5M • Revised to higher end of the range • Approximately 35%
Slide 10: Looking Ahead
10 Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 11: Bid Pipeline
Bid Pipeline (11/02/17) 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 25% 8% 34% 33% 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) • MRO: F - 16 service - life extension program (SLEP) • Various Black Hawk components/structural repairs Aerosystems • Recon
Slide 13: Long-Term Visibility - Contracts
Potential to collectively generate revenue of $ 397.9M during their remaining periods of performance (as of 9/30/17) 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 SIKORS
Slide 14: Q&A Session
CPL ict 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