CPS Technologies (CPSH) 8-K CPS Technologies Corporation Announces First Quarter 2023 Financial Results

Exhibit 99.2

CPS TECHNOLOGIES CORP.

Statements of Operations (Unaudited)

	Fiscal Quarters Ended
	April 1,		April 2,
	2023		2022
Revenues:
Product sales	$	7,100,267	$	6,652,714
Total revenues		7,100,267		6,652,714
Cost of product sales		4,855,564		4,689,224
Gross Profit		2,244,703		1,963,490
Selling, general, and administrative expense		1,550,522		1,416,393
Income from operations		694,181		547,097
Other income (expense), net		15,590		-1,913
Income before taxes		709,771		545,184
Income tax provision		250,570		125,748
Net income	$	459,201	$	419,436
Net income per basic common share	$	0.03	$	0.03

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CPS TECHNOLOGIES CORPORATION

BALANCE SHEET (UNAUDITED)

	April 1,		December 31,
	2023		2022
ASSETS
Current assets:
Cash and cash equivalents	$	7,369,863	$	8,266,753
Accounts receivable-trade, net		4,714,138		3,777,975
Accounts Receivable - other		700,703		685,668
Inventories, net		4,692,655		4,875,901
Prepaid expenses and other current assets		299,601		211,242
Total current assets		17,776,960		17,817,539
Net property and equipment		1,378,679		1,326,968
Right-of-use lease asset		433,000		466,000
Deferred taxes, net		1,842,992		2,069,436
Total Assets	$	21,431,931	$	21,679,943
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion		44,424		43,711
Accounts payable		2,046,893		1,836,865
Accrued expenses		731,454		820,856
Deferred revenue		1,828,068		2,521,128
Lease liability, current portion		157,000		157,000
Total current liabilities		4,807,839		5,379,560
Note payable less current portion		43,439		54,847
Deferred revenue – long term		--		231,020
Long term lease liability		276,000		309,000
Total liabilities		5,127,278		5,974,427
Total stockholders’ equity		16,304,653		15,705,516
Total liabilities and stockholders’ equity	$	21,431,931	$	21,679,943