Attached files
| file | filename |
|---|---|
| 8-K - 8-K Q2 2021 FINANCIAL RESULTS PRESS RELEASE - CPS TECHNOLOGIES CORP/DE/ | k8prq22021pr.htm |
| EX-99 - EXHIBIT NUMBER 99.1 PRESS RELEASE - CPS TECHNOLOGIES CORP/DE/ | prq22021pr.htm |
CPS TECHNOLOGIES CORP.
Statements of Operations (Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 26, | June 27, | June 26, | June 27, | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| Revenues: | ||||||||||||||||
| Product sales | $ | 5,862,183 | $ | 5,758,015 | $ | 10,727,890 | $ | 12,269,586 | ||||||||
| Total revenues | 5,862,183 | 5,758,015 | 10,727,890 | 12,269,586 | ||||||||||||
| Cost of product sales | 4,510,600 | 4,574,686 | 8,432,168 | 9,536,047 | ||||||||||||
| Gross Margin | 1,351,583 | 1,183,329 | 2,295,722 | 2,733,539 | ||||||||||||
| Selling, general, and | ||||||||||||||||
| administrative expense | 1,098,616 | 852,773 | 2,007,087 | 1,781,362 | ||||||||||||
| Income from operations | 252,967 | 330,556 | 288,635 | 952,176 | ||||||||||||
| Interest income (expense), net | (13,769) | (31,325) | (18,079) | (51,291) | ||||||||||||
| Net income before | ||||||||||||||||
| income tax | 239,198 | 299,231 | 270,556 | 900,885 | ||||||||||||
| Income tax provision | — | — | 456 | — | ||||||||||||
| Net income | $ | 239,198 | $ | 299,231 | $ | 270,100 | $ | 900,885 | ||||||||
| Net income per | ||||||||||||||||
| basic common share | $ | 0.02 | $ | 0.02 | $ | 0.02 | $ | 0.07 | ||||||||
CPS TECHNOLOGIES CORP.
BALANCE SHEET (UNAUDITED)
| June 26, | June 27, | |||||||
| 2021 | 2020 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 3,015,760 | $ | 195,203 | ||||
| Accounts receivable-trade, net | 4,432,310 | 2,914,800 | ||||||
| Inventories, net | 3,989,435 | 3,709,471 | ||||||
| Prepaid expenses and other current assets | 273,523 | 71,506 | ||||||
| Total current assets | 11,711,028 | 6,890,980 | ||||||
| Net property and equipment | 1,172,862 | 1,287,947 | ||||||
| Right-of-use lease asset | 638,000 | 25,000 | ||||||
| Deferred taxes, net | 117,000 | 117,000 | ||||||
| Total Assets | $ | 13,638,890 | $ | 8,320,927 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Note payable, current portion | $ | 59,438 | $ | 58,134 | ||||
| Accounts payable | 1,522,336 | 909,291 | ||||||
| Accrued expenses | 997,755 | 804,091 | ||||||
| Deferred revenue | 400,874 | 12,177 | ||||||
| Lease liability, current portion | 151,000 | 25,000 | ||||||
| Total current liabilities | 3,131,403 | 1,808,693 | ||||||
| Note payable less current portion | 124,566 | 154,570 | ||||||
| Long term lease liability | 487,000 | — | ||||||
| Total liabilities | 3,742,969 | 1,963,263 | ||||||
| Total stockholders’ equity | 9,895,921 | 6,357,664 | ||||||
| Total liabilities and stockholders’ equity | $ | 13,638,890 | $ | 8,320,927 |