TechPrecision Corporation, a leading manufacturer of precision components, has reported another profitable quarter, despite the challenges faced in the industry. The company’s customer confidence remains high, with a backlog of $45.5 million as of December 31, 2024.
- The company’s consolidated revenue for the third quarter ended December 31, 2024 was $7.6 million, a decrease of less than 1% compared to the same period last year.
- Cost of revenue increased by 2% due to higher production costs at the company’s Stadco subsidiary.
- Despite these challenges, the company’s operating profitability was sustained, thanks to a favorable project mix in its Ranor segment.
TechPrecision Corporation, through its subsidiaries, Ranor and Stadco, provides a range of custom solutions for customers in the defense and precision industrial markets. The company’s manufacturing operations are located in Massachusetts and California, with a focus on producing high-quality precision components. The company’s management team will host a conference call on Tuesday, April 8, 2025, at 4:30 p.m. ET, to discuss the company’s financial results for the quarter ended December 31, 2024.
Financial Highlights
| Gross Profit | $1.0 million |
| SG&A | $1.7 million |
| Operating Loss | $0.7 million |
The company’s consolidated financial results for the third quarter ended December 31, 2024, show a decrease in revenue compared to the same period last year. However, the company’s operating profitability was sustained, thanks to a favorable project mix in its Ranor segment.
Customer Confidence Remains High
Despite the challenges faced by the company, customer confidence remains high, with a backlog of $45.5 million as of December 31, 2024. The company expects to deliver its backlog over the course of the next one to three fiscal years, with gross margin expansion.
Conference Call Details
The company will hold a conference call on Tuesday, April 8, 2025, at 4:30 p.m. To participate in the live conference call, please dial 1-888-506-0062 five to 10 minutes prior to the scheduled conference call time. International callers should dial 1-973-528-0011. A replay will be available until April 22, 2025.
About TechPrecision Corporation
TechPrecision Corporation is a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components. The company’s subsidiaries, Ranor and Stadco, provide a range of custom solutions for customers in the defense and precision industrial markets. Ranor is a US defense-centric company with over 95% of its revenue in the defense sector, while Stadco is a US defense-centric company with over 60% of its revenue in the defense sector.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. All statements other than statements of current or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking statements. “The Company’s ability to deliver its backlog over the next one to three fiscal years, with gross margin expansion, is dependent on various factors, including the availability of appropriate financing facilities, the competitive bidding process for contract awards, and the Company’s ability to maintain standards to enable the manufacture of products to exacting specifications.”
(“Source: TechPrecision Corporation“)
Definitions
TechPrecision Corporation is a leading manufacturer of precision components, with a focus on producing high-quality precision components for the defense and precision industrial markets. Despite the challenges faced in the industry, the company reports another profitable quarter, with a consolidated revenue of $7.6 million in the third quarter ended December 31, 2024.