TechPrecision Corporation Announces Unaudited Consolidated Earnings Result for the Third Quarter and Nine Months Ended December 31, 2018; Provides Earnings Guidance for the Fourth Quarter and for the Full Year of Fiscal 2019
February 13, 2019 at 04:30 pm EST
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TechPrecision Corporation announced unaudited consolidated earnings result for the third quarter and nine months ended December 31, 2018. The company net sales for the third quarter of fiscal 2019 were $4.3 million or $0.6 million higher when compared to the same quarter a year ago. Net income was $218,000 or $0.01 per share, basic and diluted, compared to a net loss of $691,000 in the same quarter last year. Income from operations was $339,447 against loss from operations of $173,520 a year ago.
For the nine months ended December 31, 2018, net sales decreased by $2.1 million or 15% to $12 million when compared to $14.1 million for the 9 months ended December 31, 2017. Net income was $563,000 or $0.02 per share, basic and fully diluted, compared with net income of $101,000 or $0 per share, basic and fully diluted, for the 9 months ended December 31, 2017. Income from operations was $1,005,569 against $1,359,968 a year ago.
The company operating margins are positive and the company expects to remain profitable in the fourth quarter and for the full year of fiscal 2019.
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and Stadco, manufactures metal fabricated and machined precision components and equipment. The Company offers a full range of services required to transform raw materials into precision finished products. It sells these finished products to customers in two main industry groups: defense and precision industrial. The finished products are used in a variety of markets, including defense, aerospace, nuclear, medical and precision industrial. Its manufacturing capabilities include fabrication operations, such as cutting, press and roll forming, assembly, welding, heat treating, blasting and painting, and machining operations, including computer numerical controlled (CNC) horizontal and vertical milling centers. The Company also provides support services to its manufacturing capabilities: manufacturing engineering, quality control, materials procurement, production control, and final assembly.
TechPrecision Corporation Announces Unaudited Consolidated Earnings Result for the Third Quarter and Nine Months Ended December 31, 2018; Provides Earnings Guidance for the Fourth Quarter and for the Full Year of Fiscal 2019
TECHPRECISION CORPORATION 
