CPI Aerostructures among DefenseNews ‘Fast Track 50′
EDGEWOOD, N.Y. — CPI Aerostructures, Inc. (”CPI”) (AMEX:CVU) today announced that it has been selected as one of the Fast Track 50 companies by DefenseNews. CPI ranked #2 for 3-year revenue growth among the 50 leading defense companies on the list. Inclusion in this year’s list was based on revenue growth, which needed to be a minimum of 10 percent over the past year, three years and five years.
Edward J. Fred, CPI’s President & CEO stated, “We are delighted to be recognized by DefenseNews along with such a distinguished list of defense companies. Despite being the smallest company on the list, CPI exceeded all but one of its peers with 3-year revenue growth of 48.9%. With our proven performance as a military supplier, our strong balance sheet, and our prime contractor and subcontractor capabilities, CPI is poised for continued success.”
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This year’s Fast Track 50 list appears in the August 23, 2004 issue of DefenseNews. The list will also be posted online at www.defensenews.com, which should be accessible within the next few weeks. DefenseNews is part of the Army Times Publishing Company, the leading military and government news periodical publisher.
Founded in 1980, CPI Aerostructures is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI provides engineering, technical and program management services. Among the key programs that CPI supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer and the E-3 Sentry AWACS jet.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI’s SEC reports, including CPI’s Form 10-KSB for the year ended December 31, 2003 and Form 10-QSB for the quarters ended March 31, 2004 and June 30, 2004.