TechPrecision Corporation (OTCBB: TPCS), is certainly a stock to watch. A leading manufacturer of large-scale, high-precision machined metal fabrications for the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, recently reported strong financial results for the fourth quarter and year ended March 31, 2008.
Fourth Quarter of Fiscal 2008 Highlights
* Net sales increased 64.5% to $9.3 million
* Gross profit rose 185.6% to $2.6 million
* Gross profit margin was 27.8%
* Operating income increased 396.1% to $2.1 million
* Net income increased to $853,000 compared to a loss of $8,000
* Net income allocated to common stock increased to $853,000 from a loss of $296,000
* Net income per common share was $0.07 and $0.03 basic and diluted, versus $(0.03) per share basic and diluted the previous year