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

Exhibit 99.2

CPS TECHNOLOGIES CORPORATION

Statements of Operations (Unaudited)

	Three Months Ended				Year Ended
	December 30,		December 31,		December 30,		December 31,
	2023		2022		2023		2022
Revenues:
Product sales	$	6,747,199	$	6,115,352	$	27,550,646	$	26,586,926
Total revenues	$	6,747,199	$	6,115,352	$	27,550,646	$	26,586,926
Cost of product sales		5,598,616		4,489,640		20,725,237		19,285,846
Gross Margin		1,148,583		1,625,712		6,825,409		7,301,080
Selling, general, and administrative expense		1,004,948		1,316,530		5,126,046		5,066,660
Income from operations		143,635		309,182		1,699,363		2,234,420
Interest/Other income (expense)		80,823		9,866		253,018		635,248
Net income before income tax		224,458		319,048		1,952,381		2,887,668
Income tax provision (benefit)		84,948		50,057		582,085		756,268
Net income	$	139,510	$	268,991	$	1,370,296	$	2,131,400
Wtd. Avg. basic common shares outstanding - diluted		14,617,473		14,649,719		14,628,811		14,675,646
Net income per basic common share	$	0.01	$	0.02	$	0.09	$	0.15

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CPS TECHNOLOGIES CORP.

Balance Sheets (Unaudited)

	December 30,		December 31,
	2023		2022
ASSETS
Current assets:
Cash and cash equivalents	$	8,813,626	$	8,266,753
Accounts receivable-trade, net		4,389,155		3,777,975
Accounts Receivable - other		83,191		685,668
Inventories, net		4,581,930		4,875,901
Prepaid expenses and other current assets		276,349		211,242
Total current assets		18,144,251		17,817,539
Net property and equipment		1,556,139		1,326,968
Right-of-use lease asset		332,000		466,000
Deferred taxes, net		1,569,726		2,069,436
Total Assets	$	21,602,116	$	21,679,943
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion		46,797		43,711
Accounts payable		2,535,086		1,836,865
Accrued expenses		1,075,137		820,856
Deferred revenue		251,755		2,521,128
Lease liability, current portion		160,000		157,000
Total current liabilities		4,068,775		5,379,560
Note payable less current portion		8,090		54,847
Deferred revenue – long term		31,277		231,020
Long term lease liability		172,000		309,000
Total liabilities		4,280,142		5,974,427
Total stockholders’ equity		17,321,974		15,705,516
Total liabilities and stockholders’ equity	$	21,602,116	$	21,679,943