CPS Technologies (CPSH) 8-K CPS Technologies Corporation Announces Second Quarter 2022 Results

Exhibit 99.2

CPS TECHNOLOGIES CORP.

Statements of Operations (Unaudited)

	Three Months Ended					Six Months Ended
	July 2,		June 26,			July 2,			June 26,
	2022		2021			2022			2021
		------------		------------			------------			------------
Revenues:
Product sales	$	7,070,743	$	5,862,183		$	13,723,457		$	10,727,890
		------------		------------			------------			------------
Total revenues		7,070,743		5,862,183			13,723,457			10,727,890
Cost of product sales		5,242,106		4,510,600			9,931,330			8,432,168
		------------		------------			------------			------------
Gross Margin		1,828,637		1,351,583			3,792,127			2,295,722
Selling, general, and administrative expense		1,159,157		1,098,616			2,575,550			2,007,087
		------------		------------			------------			------------
Income from operations		669,480		252,967			1,216,577			288,635
Interest income (expense), net		1,594		(13,769	)		(319	)		(18,079	)
		------------		------------			------------			------------
Net income before income tax		671,074		239,198			1,216,258			270,556
Income tax provision		215,966		--			341,714			456
		------------		------------			------------			------------
Net income	$	455,108	$	239,198		$	874,544		$	270,101
	=========		=========			=========			=========
Net income per basic common share	$	0.03	$	0.02		$	0.06		$	0.02
		------------		------------			------------			------------
Gross Margin		1,828,637		1,351,583			3,792,127			2,295,722
Selling, general, and administrative expense		1,159,157		1,098,616			2,575,550			2,007,087
		------------		------------			------------			------------
Income from operations		669,480		252,967			1,216,577			288,635
Interest income (expense), net		1,594		(13,769	)		(319	)		(18,079	)
		------------		------------			------------			------------
Net income before income tax		671,074		239,198			1,216,258			270,556
Income tax provision		215,966		--			341,714			456
		------------		------------			------------			------------
Net income	$	455,108	$	239,198		$	874,544		$	270,101
	=========		=========			=========			=========
Net income per basic common share	$	0.03	$	0.02		$	0.06		$	0.02
		------------		------------			------------			------------

CPS TECHNOLOGIES CORP.

Balance Sheet (Unaudited)

	July 2,		December 25,
	2022		2021
ASSETS		-------------		-------------
Current assets:
Cash and cash equivalents	$	5,076,282	$	5,050,312
Accounts receivable-trade, net		4,536,973		4,870,021
Inventories, net		4,665,719		3,911,602
Prepaid expenses and other current assets		313,501		225,873
		-------------		-------------
Total current assets		14,592,475		14,057,808
		-------------		-------------
Net property and equipment		1,412,923		1,322,494
Right-of-use lease asset		528,000		586,000
Deferred taxes, net		2,482,720		2,823,978
		-------------		-------------
Total Assets	$	19,016,118	$	18,800,719
	=========		=========
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion	$	47,321		55,906
Accounts payable		1,621,278		2,100,251
Accrued expenses		648,180		1,086,429
Deferred revenue		1,752,543		1,707,138
Lease liability, current portion		157,000		155,000
		-------------		-------------
Total current liabilities		4,226,322		5,104,724
		-------------		-------------
Note payable less current portion		77,120		98,684
Long term lease liability		371,000		431,000
		-------------		-------------
Total liabilities		4,674,442		5,634,408
Total stockholders’ equity		14,341,676		13,166,311
		-------------		-------------
Total liabilities and stockholders’ equity	$	19,016,118	$	18,800,719
	==========		==========