TechPrecision Corporation reported earnings results for the first quarter ended June 30, 2018. For the quarter, the company reported net income was $164,000 or $0.01 per share basic and diluted, compared to net income of $425,000 or $0.01 per share basic and diluted in the year-ago quarter. Results for the first quarter were impacted by lower gross margins, which were primarily the result of higher amounts of unabsorbed overhead related to a lower number of projects in production. Net sales for the first quarter of fiscal 2018 were $4.1 million or $1.7 million lower when compared to the same quarter a year ago. Income before income taxes was $229,000 compared to $712,000 the same quarter a year ago. Cash used in operations for the quarter ended June 30, 2018 was $0.3 million.