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TechPrecision Corp. (TPCS)
TechPrecision Corp., by way of its wholly-owned subsidiaries, Wuxi Critical Mechanical Components Co., Ltd., and Ranor, Inc., is an industry leading manufacturer of precision, large-scale fabricated and machined metal components and tested systems. Its goal is to be an end-to-end global service provider to its customers through furnishing customized and integrated turn-key solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. TechPrecision is based in Westminster, Massachusetts.
The company's products are used in the alternative energy, medical, nuclear, defense, and precision industrial, aerospace, and naval/maritime markets, among others. The design of its Wuxi Critical Mechanical Components (CMC) subsidiary is to meet the growing international demand for an experienced, knowledgeable machining and distribution center in Asia, providing large-scale component fabrication solutions for the region's solar and wind power challenges.
Founded in 2010, CMC employs one of the largest forges in the industry. CMC's capabilities include Forging; Fabrication; Machining; Inspection; Assembly & Finishing, as well as Quality Assurance. CMC serves the Solar/LED; Wind; Nuclear; Clean Technology, Medical; and General Industrial industries.
TechPrecision's Ranor subsidiary specializes in large-scale, precision component fabrication for the Clean Technology, Energy, Medical, Aerospace, and Defense sectors. Ranor's capabilities cover Production Control Engineering; Processing; Fabrication; Machining; Assembly & Finishing; Quality Assurance, and NDE & Inspection.
Recently, TechPrecision reported financial results for Q3 of fiscal year 2017, the period ended December 31, 2016. Net sales were $5.3 million, versus $3.5 million the same quarter a year prior. This represents an increase of 52 percent.
Gross profit was $2.1 million, versus gross profit of $1.1 million in the same quarter the year prior. Net income in Q3 of fiscal year 2017 and 2016 was $992,094 and $12,003, respectively. This represents a $0.03 per diluted share in fiscal 2017 versus $0.00 per diluted share in Q3 of fiscal 2016.
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