CPSH - Earnings call 4 2021 | CPS Technologies Corporation

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CPS Technologies Corp. 2021 Year-End Investor Call. [Operator Instructions] I would like to hand over the conference to your speaker, Mr. Chuck Griffith, sir, you may begin.

Charles Griffith

good and Jeff, you, afternoon, everybody. Thank today Executive Officer, joined fourth and by comments Michael Chief and quarter results. President our annual who our McCormack, on I'm will his offer

that the uncertainties uncertainties of we could many and of Securities the call, in of CPS' out Before the materially considered These to subject the statements Such of cause conference historical demands Private not environment. and exist to this statements. XXXX differ Litigation conditions, be from include that in business COVID-XX, as within are factors operations results the portion competitive forward-looking factors. that I market like statements impact and those the to begin should actual forward-looking Ukraine, in would Russian invasion economic point any are strictly Act call Reform of the meaning

and the Now results. call perspectives I'll turn the on to Michael his fourth quarter offer to year over

Michael McCormack

Thank are $XXX,XXX of Chuck, you the of and you, Thank of revenues same us. an XXXX. ending quarter quarter December and This operating with year to operating $XXX,XXX $X.X an XX, the pleased a Today, favorably compares revenues million ending XXXX. profit million and of fourth joining ago for the announce for $X.X afternoon, loss good everybody. quarter we for December XX,

extremely as results. our quarter to the to began. quarterly as marked increase based XX% year proactive pandemic XX% outlook restructuring the well this growth indicative and a past as were overall The third steps since upon revenue results in noteworthy business. more financial performance anticipated fourth executed the the the believe is The quarter third same quarter near-term nearly in quarterly quarter of We our we ago is the the fourth best compared of performance the from in

and of generate incremental deliver improvement revenue and are continued are income and value because operating greater to create the inherent we We shareholder changes demonstrating implementing value.

in year, 'XX. to fiscal X.X% $XX.X revenue the is 'XX the organic revenues year our year as annual the company. fiscal year terms Fiscal strategy. year are we reporting over of million of the in highest million ever The for second fiscal rate with consistent compared For $XX.X of revenues reflects growth

For we the is of of reporting company's in reserve. increase operating $XXX,XXX versus the million fiscal $XXX,XXX also the to company in is 'XX. year, year in net tax are income, fiscal $X.X XXXX income due reporting This deferral reversal

second also this year of consecutive profitability. addition, marks In our

Our larger continues strategy book-to-bill of results is data. growth over fiscal into X.XX to to XXXX X for reaffirm year translating our a the sample of

into sales fiscal are 'XX optimistic increasing We year will year in increased directly cautiously that 'XX. translate steadily fiscal the of revenue

COVID is still omnipresent.

all to create raw availability deliver customers. has challenged aspects to We since been the to monitor variability our The on chain products remain goods of and outbreak vigilant of years ensuring ago. our our nearly are X continuing supply of and chain pandemic entire

can We plans control are in to control. we multiple place the we issues have confident,

for now, the a he'll the more over in turn the Chuck? moving and But a more I'll bit progress on about speak business I'll discuss forward later call. it details bit little Chuck, to detail. overall little financial

Charles Griffith

Michael. you, Thank

XXXX XXXX. generated in QX revenues QX So in compared million $X.X $X.X to totaled million

XXXX. as fourth pandemic armor -- COVID-XX the COVID-XX as XX%. the of for So quarter an packages of well sales due hermetic in XXXX actual sales the in and quarter increase This the of of impact was primarily the to increase fourth increase on in of

increase of $XXX,XXX total XX% directly between XXXX. $X.X QX 'XX expense compensation an expenses Selling, million of million $X.X general X in to or compares totaled margin to the revenue gross This XX% This increase with in totaled sales was sales. due dollars due increase to increase periods. in million to 'XX in of 'XX with in This the $X.X in higher of sales. margin margin and increase and correlates the the employees, QX at Gross in expenses QX administrative expense volume. QX commission SG&A in compared sales

QX previously The operating to operating of is experienced an This XXXX. to in primarily in of due company income revenue, increase $XXX,XXX $XXX,XXX loss increase 'XX as in compared QX in operating income the we discussed.

due in year revenues in for the increase ended 'XX, to an million This hermetic December compared increase XX, $XX.X of in packages XXXX, For and sales totaled armor was million $XX.X primarily X%. increase XXXX. the to

in which Selling, sales, margin general in margin Gross to This directly this of XXXX. XX% of totaled dollars XXXX and increase million, million in margin sales. million or in XX% with $X.X the revenue. of is expenses increase XXXX. million administrative in compares correlated compares was $X.X XXXX gross in $X.X expenses SG&A of to $X.X totaled The

first new the expenses. company The this our in expense $XXX,XXX incurred in of to time, the were retired Several excess increase. contribute company an to which in XXXX, And our CEO sales about for paid for SG&A both overall the and factors salaries CEO costs the contributed positions at $XXX,XXX adding also to benefits increase here we XXXX, of our same they during 'XX, half onetime restructuring compensation. our and new both added X an of

the to reversal to recorded as XXXX and operating due company decrease compared in of in of $XXX,XXX million to primarily The compared company XXXX increase reserve. in previously increase the in deferred The and XXXX, net we XXXX, in income income operating SG&A $X.X discussed. of experienced the $XXX,XXX to is primarily company's was tax this $XXX,XXX of income the expenses due

asset. company this that that not period sustained losses, tax valuation XXXX, reserve of deferred a set December it management the time, up At likely its more would determined a tax than following able recent be against asset In to Management will more this this determined was of used. fully profitability likely expected that reevaluated utilize the it asset. and not that in decision has of has future not and tax be light profitability company that is than

$X.X income tax on the has million XXXX. recorded been of as As such, benefit December of statement XX, a

began position is of May, improvement to and filing the at-the-market an completed the our quarter raised balance $X.X at we over Through under to borrowing our end In bank of program. funds This $X Turning end These we We cash of XXXX. sheet. million under line enabled the with $XXX,XXX that year, of approximately ended completely ATM cash. million the offering. net to cease raising the the of have us funds our credit.

been able absorb line. inventory In grow increases in as accounts our our addition, in the have armor we we develop and sales receivable to as

needs. more selective is market that become at regarding such this additional offering managed short-term days which and we've the raise under Our being cash will prices sell covered we our We've shares.

no fourth during As was additional program. cash the ATM under the such, raised quarter

totaled compared with end December $X.X at XXXX, XX, Accounts receivable at of $X.X XXXX. December the million million XX,

year-end with increase to Our receivable. amount quarter the accounts days of in the This days previous totaled at the sales the take we then sales in $XXX,XXX end prior days due which outstanding been inclusion XX at compared year. the XX out, years. that XXXX is end line outstanding about If of XX of have XXXX revenue for to deferred days, days would the was the of

materials at end end the The million turnover increase is of by Inventories million inventory XXXX. was inventory is the This X recent $X.X compared December $X.X ended other management product increased an offset inventory now December of of compared lines. at for December better in due area Improved in inventory to most the in X.Xx XX, XXXX. of X.Xx period focus. -- the quarters management totaled armor with XXXX compared to

$X.X to accrued had million Turning accruals This Payables $X.X the December levels liability we is December up at XX, XXXX. the higher at sales side. charges, greater due which resulting discussed. million to XXXX, restructuring as and previously well from expenditures totaled as XX, from

to So call Michael. for like over back turn further to discussion, I'd the

on. You're

Michael McCormack

while Thank simultaneously streamlining quarter fiscal make year, business. positive, you, and current to Chuck. to sustained measurable goal on addressing This grow past improving operations, we to long-term medium-sized continue our and a also progress

on improve to we to and ability our sales an increasing add As completely organization, focused ability our execute. are

rebranded web, substantially presence. improved have company We and the media social our and digital

solve customers, and our more to able potential reach employees to to issues. now new innovative, customers' challenging We supply potential solutions our are ability custom-made, materials-based investors about most

add scale will adding as the size also the of execute. business significantly have that additional cost to to members staff us continued we enable without We

more engineers, staff position. and have more hired sales service We shared few a members name to

a to our product innovation. to moment increasing technical approach bandwidth, discuss take I overall approach would our to our like to growing

packaging, We and armor our all are matrix hermetic composite metal growing adding the demand the address product technical staff business. X lines. products of to across

Most importantly, AlSiC customers, This Our renewed development funding-constrained specifically addition address of is that staff interest about engineers requirements RF bringing a predominantly especially working our business to is the with industry-only working develop the in hermetic new equating segment. to directly in market customers' in microwave solutions environment. while package. a are this the

the quite pleased I'm progress with are we making.

contract services research the of Navy. in awards and technology programs. businesses development with reason We business, small These research highly our engage programs evidenced potential HybridTech for research have with States The most and business competitive programs federal to the as business in development and the recent small a United small success commercialization. large the line SBIR program participation Armor programs the transfer for and innovative are STTR are reenergized that by the domestic encourage

rights or R&D intellectual are through and property and they In programs source development manufacturing federal these protections additional within the government. U.S. addition, advance sole as the research to afforded commercialization,

awarded program We to they and entire been and the contract in armed Lift Army a thermal research forces. FVL cargo helicopters U.S. development the aviation attack, FVL Future is programs, current reconnaissance U.S. concerns plan exciting utility, Vertical community or address recently them. to the their The as develop have an call replace for and with management

immensely proposal numerous is several academic heat solution dissipate areas proud institutions military potential applications. aviation that solutions, over large valued our critical we prestigious program our for novel is staff including Although just the a are help [ to engineering propose beginning, ] to of over

work magnificent I'd and like Dr. Mr. the Mark endeavor. mention this in to Occhionero Holmes Kachur, Steve of Bill specifically Dr.

Department and both notification and awaiting on opportunities contract also Department other Defense. development are several the We Energy of within research the of

year beyond continuing As of up production now, look improving quarters CPS success follow with fiscal past to volumes. is on the the we XXXX

to of conjunction a this year. fiscal MRP, before planning hope resource to tool We with ERP, done have have the entire profitability conversion our tool, and operation. efficiency made material new enterprise end a resource the enhance commitment We this of to new in the planning,

just I'm the is CPS, and future because at extremely that I'm The bright not CEO. saying

within The our the consumer We growth entire and defense markets opportunities staff and future commercial and of also on, X lines, several in armor packaging, large-scale composites. significant These hermetic and product we the towards improving profitability. aerospace electronics. offerings working have matrix all are opportunities product focusing is are metal while

continually will we quite We we incrementally with and and quarterly performance pleased and that year-over-year. are recent quarter-to-quarter forward improve our as expect move

The We to business should also the less pandemic, of unpredictability the and in almost the COVID are of unprovoked of will of year we've to be countries. aware invasion no and had potential impact continue less. the as impact progress Ukraine CPS but hopefully the negligible on impacts the those have sales Russian as

lots customers' needs. both large, finding keep of entire and on have small material the today, ideal, focused that additional for We staff innovative opportunities the solution

I'd year and to a be last 'XX I whether so prepared be quarter, about fiscal that, with there and moment are And questions like opening... any the the to that take business, may or answer we're Chuck it

Charles Griffith

Open to questions.

Operator

We [indiscernible]. from Stephen of Instructions] question have the a line [Operator

Unknown Analyst

security between, that's can say, say your a where out going? other breaks general applications visibility and of and on have question, Sort national where roughly you defense perhaps and how you business

Charles Griffith

Yes.

numbers, is that I I I neighborhood But yet. that the And of on something -- for do it's XX% think in want the obviously to XX-K, in continue So have in haven't we to last that But business range. year's for say we which going defense to think that published grow. XXXX. we think of our it's

Unknown Analyst

Okay. kind It of a growth sort gives area good of unfortunately, me probably sense. looks Good. at a general it's -- moment. like That the

Operator

There one, please Weber this [ -- we are time, continue have Greg no ]. Instructions] at further questions [Operator

Unknown Analyst

top great could you I leverage? margins, nice, you curious, to gross Just and earnings. mean, but nice line depending on operating speak had

talk what expect basis? about you bit could little should a on a So there go-forward we

Charles Griffith

-- terms are question? you -- In of can just what you repeat the

Unknown Analyst

revenues. a good up back very low the again. $X.XX had are And yet, earned you into margins XXs we share. So Gross

more I making is did there. -- earnings? you're like to top what the get situation. think thought... trying should It We OpEx what's about more the sounds some need line, improvements I'm Or we So

Charles Griffith

earnings. expect Yes, we definitely more

have other in changes included due leadership during think that those some the bit and onetime -- an -- not as equal, -- are expense this -- expenses. talked deals. have have we increase third we change in as said, mainly other should had SG&A about earnings to number seen of that increase all that think But year would the I we we that for over that quite year I the in those being would a over an I earnings And during things those to seen is we've of we onetime made quarter. the incur

much in -- first think first we the better of So earnings of forward did, see we'll than quarters especially I X do couple quarters XXXX. going

Unknown Analyst

And just there. a Okay. follow-on maybe

up? a here In we color streamline to should terms margins. to But in just Is of gross try think you going obviously just mix 'XX margins, forward? to put tank there? assume, due lot operations, or what more there the doing beyond should any there whatever, help, gas about product which You're I

Michael McCormack

Certainly, this is Greg. Michael, of a focus Well, ours. it's

issues I'm bit it's those that as there's been as we very have proud improve little costs, been also know, controlled the keep our continuing a we happy control gross to keep And inflation because, going -- cost continue quite and and a customers. which we're margin do can that how margin hectic improve you We on. to of they

there we've better. we We're had think bit a Like has few of a overall, I chain. But the a overcome improved. inflation part, most battle. hold have I to been this little slightly -- has we year the part quite But guess, as that. a supply that taken second the it in dynamic of So gremlins for I think did really the bit earning the we

mix I the think continued to anticipate improve begins as bit, we move forward, a as we little progress.

Unknown Analyst

Okay. And that not cost definitely front of inflation. you're Great. on willing in terms input

Or separately? in go raise and to any there are prices you escalators contracts? So start basically your got back to

Michael McCormack

always Well, a difficult that's issue.

our cetera, different et to customers, of whether long those cetera. contracts in there each the address et surcharge are provisions some our these, annual repricing, with it's extremely So are of and pass-throughs,

kind of guess, Greg. each them So are of unique, I

Operator

question Patrick from the of White. Next line is

Unknown Analyst

where the progress the Congratulations ask a a terms attributable to the armor the fine to and years? think that predictable. order any do and part X bit you that a next bit making. to the be it's there? all a of or you case on you seems is little get in glad XX% going hybrid fine there on to think for is the be about something of Or going revenue. year you second And business, -- And guys can that on little that X be of that? going bit you're question pace, to armor, little quarter, something hybrid or to it wanted all are defense-related comment a a is to point else that you lumpy. to you Is mentioned Is see I going to

Michael McCormack

Thank you, Patrick, is for the Michael. question. This

lumpy, be Armor the which great. will is orders HybridTech So not

armor the our get dealing for in, And the industry on are Armor halfway -- work only big preserve you of nature through U.S. still of good another the HybridTech current rather we is the the contract By we get that significant However, [ end, in is it side itself they're ]. the towards a order. you off, big kind you order, get you Navy. are

these of So Authorization once armor kind I were Navy the of of And the within occur referring which start Act. program record, the working we're on we on, to, transitioning with will some we're of programs guess there. you executing predictability some awards are ones today, the is Defense bidding Patrick, and lumpiness, that

give years us predictability funding. out the and So will of that into visibility

business energy has year X And environmental of with domestically X get nation both after or have HybridTech we product. of opportunities, now significant to that conditions. given years So the states the of we're if customers a lightweight Armor. take you we're very heading, X armor threat. and probably when international R&D we're relatively kinetic value and into lots where see you and view, It for continue, production in properties and longer for our It's incredible they continue happy years, our quite of starts,

business. just controlling right begun think so the it's cost with We're our we've scale. I And like scaling as we now. way we armor And

U.S. our have And they ground foreign aware we're vehicle the be surface We in making in already opportunities, quite nations lots whether we aviation progress their U.S. Navy -- you're of community. large and community, of the fleet.

So But yes, the big we're with that. lumpiness with happy comes lumps.

So lines longer it product think look I I well, think we the the in as of a mix business when be will just aggregate, at fine. performing

Charles Griffith

half the maybe And is other question, ballpark. XX% it, contract. is Patrick, in contract Navy answer that just of to Navy That not the

Unknown Analyst

helps. That maybe but what We'll at and maybe of you. it's see. And mid-deck I in to see. looking stands regarding excitement like it forward the your voice I'm where Got hear business, we'll your can and XX%

other mention you in significant of customers we X RF years? percentage don't X is that I of out terms be The of just if how maybe related? with if question new your might XG business. so, I had, revenue think mind, mean as in or respect that Can to overall of some

Michael McCormack

we And do the specifically, RF don't I what you, Well, increase aerospace into so. to microwave I to aerospace visibility offerings, continue applications probably certainly, XG? led would say don't space us know of I our us Chuck, we of are. But think don't likely it's that as side more some some and it's side. product has related. the has and the into have visibility more

Unknown Analyst

step aside a couple not, the you, there at you mind. I if don't others are throw on have more if other I if questions, I'll but can But queue.

Michael McCormack

Go here. We're ahead, Patrick.

Charles Griffith

Yes.

Unknown Analyst

Okay.

course, whether in a it maybe silicon that technology understand and the there's the carbide? which of for thoughts digital EV in today also carbide Does particularly solar, is electronics suitable share aspects all important as I a is I power power of bit you Any space, work which little electronics and to your GaN voltage you silicon towards a area, is in heat transportation, even to technology respect certain you the less can lower suitable I of the applications in GaN, to movement is, so -- more in wind. So think offer are very significant generates suitable with space. know more [indiscernible].

Michael McCormack

are are EV me yes, and going is with die, just we're collaboration the that let silicon AlSiC interest lot there other there of And a from all shift And optimistic applications. renewed that other so it's you particularly than applications is comment talking technology folks for production. working this folks together. of And President future and domestic are that messaging the week, in of are there working the us Well, where the we -- and the working. are a that infrastructure about extremely R&D offer the of on. actively And correct, is in

concern doing will, with you years in competition, our So of different are And our right Patrick, to this are out, obviously, right now, we of if market customers close we can not products and that. of we and couple how well is most we R&D that opportunities. those our viable are a inventing most of are do it's can now, it, competitive and that be supplier

so we're And interested.

low than But for high I our to more think be advantage the working the us. AlSiC, is with obviously. greatest voltage seems

Unknown Analyst

bringing AlSiC? beyond the taking haven't to The announced you're -- there's been maybe that technologies that it table yet other I'm

Michael McCormack

Correct.

business, And Patrick. so at -- a -- we obviously, we're product-based time any

that in different production. are have we products So

our rate products We are product cycles and through them the for that by in gates But that of have and that kind ago years qualify with stepping and is which And to takes several a are been years held, that R&D. get close they are these production. of times, full have lot become going. and products partners customers studied the

Unknown Analyst

more investors company, Excellent. of 'XX, or years Can a going -- with color to and handful think can you as on keep the become midsized to what Excellent. in about sure going respect can model of looking now, 'XX, things. not for you to questions it's looking One, I of But if add I'm from I'm by be that might a okay. X a any with out maybe mean you're couple thinking to X what terms that. you

One And -- XX% forward and because is today thought is XXs, low something mentioned growth rates. more you're which is really gross I already absorbed. as margins, might see your contribution of when more margins contribution but margins, presumably, just be like contribution your between absorbing maybe fixed I or distinguish cost going margins from

margins, might your we margins gross maybe So higher if the margins? contributions are be gross looking mid-decade are -- than XX% at a

Charles Griffith

a continuing XX%, goal think the help and that's gone our that is are about frankly, get to get hopefully, gross yes, myself I to this the side, that Yes. And mentioned for sooner And place. I we're we're fourth than mid-XX% sort margin. getting to of rather we've for even ultimately. higher. Michael I work XX%, a we think, XX% speaking XX% goal and the MRP towards from, going I think -- can don't in to earlier, systems in we quarter, mean And know, XX% -- certainly is later. to up getting that lot shooting number finance there us But the that ERP on had to

Michael McCormack

between growing. I an our to Patrick, an see the margin revenue MRP And continue volume, And obviously, as a as check. we we while grow, tool improve wanted we contribution relationship we're quick in is, reasons there is point mentioned a your is just investment one we of margin. as to to made earlier,

to the terms, We dollar really want a small goals, that in of scale about And we don't quantify how the can want timeline the grow business. you business. you it year-to-year. I but kind we towards are so And to if good will, medium, way have on understand working guess, put different but ways is to I ability don't necessarily speak to we see, probably a obviously, to it, scale

margins down we grow, But we up, we we as our our that to cost know and so cut that scale need keep improve. and contain as

on, with working processes to actively business, that's the we people, the in basically We terms we're trying business. of what about we were grow tools. And and and how you as share talk the can, tools, so that we is what scale

Unknown Analyst

to Sure. to you in going ask get -- growth all that to -- have could XX% place, it's with out rates into it of ask that, let's conceivable anyway, Sure. unfair whether this I'll it be these we XX%, you undoable initiatives it's Is and kind thing. mid-decade not say,

Michael McCormack

the the we've mean, this goal. goal. That's That's achieved I year. X.X%

have COVID. We goals But dynamic that in greater. and we're again, of a environment,

Now Cold ongoing. in certainly, we War-esque There early environment. product lines, are we a technology our our returned from almost things some have from of want production, to to business we full goal, question, planning that's hires grow that's new we are same X, and can't all a quarter rate these to But and the pieces control, levels offerings business, -- the tool, depth Patrick. all as all standpoint, we and in 'XX, me our some of we've this the to addition going or in had, but Patrick, the we place with during right? And ask think give of put probably a

Unknown Analyst

electronics and as as certainly questions. you year. I've congrats on right think but to these my both are I efficiencies. Well, the is And you all dynamic here going well thanks again movement in with the part, power time with all along me a to ask guy right letting at conflicts the space for be that seem And done with Chuck, Michael, with and on,

and good again. hear luck you'll from sure 'XX, on me And I'm so

Operator

line Next Marci of question ]. Anthony [ from the

Unknown Analyst

are inorganic To looking growth hasten play that into does your A of what that there revenue level other you're questions. companies extent profitability? out at, your or or can future? there of couple words, In

Michael McCormack

line. is growth seeking for be now. that, because Certainly, successes. base that this ]. our of and that? the canoeing open. success we that the plan a would match much we it growth I successes organic the completely is for would opportunities And aware and open strategy? committed to guess our we on are We've full are guess, Are but having We've history material content are are we aligned have extremely it success made science we be strategy our is -- resources Do them? open, not got here we great M&A's selective have [ great our kind right to the Not so with -- Michael. of right? Well, Are question for Yes. of so we're I growth, with littered actively with to But

And you under skis be that we want grow. sure also to as our continue so stay, we if we will, to

Unknown Analyst

Got it.

Michael McCormack

And we're open for certainly we're growth. for today. it's think it, in opportunities configured prime do goal way not We the have of a lots we but

Unknown Analyst

there budget, -- Right. there more couple questions. does or new you defense it The would any any new A hold with in programs? is anything that benefit directly

Michael McCormack

the our which the Armor U.S. surface it's in to going applications. that's we we X Navy's fleet XX, HybridTech a certainly, conversion have for not Well, is large document. component budget, this And Palm part, of year's and most in think it's to be

monitor. it cautiously that But So while budget. defense to continuing takes we're -- that a into is get to

to business on reasons of to Congress' innovative for contract development. program. funding I reenergizing would is of part positive Congress and commitment on research program, think defense up which our why stepped returned our firmly one we've services budget fund be small the the the the side SBIR, that STTR research has

We have, to obviously, with academic a few the and reach material and scientists, side. have depth PhDs we

that this well-funded our few company few, a in that's budget. to year's academic We Carnegie, we MIT. name is companies University Arkansas, a obviously work institutions, these Milligan, of -- to with, have program with working and used partners a We're

do. that what program we you take anything, based if upon commercialization congressional away think, products that I is research So is could exactly well-founded domestic of sourcing and

that... So

Unknown Analyst

greater higher no follows final stock, making Okay. the are your forecasting question, higher are investment anyone that sell-side research or stock community? plans? of it growth, -- just the you're to follows IR a predicting think I firm the visible my in given your And terms What the knowledge. plans what don't follows one like on this more standpoint. yourself to the greater profitability year, sounds no -- growth, Obviously,

Charles Griffith

Anthony, It's that definitely something we're that, on. working

can will that do I be that we as than do area. a that it's sooner do And something addressing rather that can it it's we job. think to think -- in a going in better XXXX. And a we we better better think something forward, I ahead it probably you addressing see that that well, we'll that move recognize be to I guys be will job later something

Michael McCormack

on getting but we is a we're attended up aren't trade And certainly, like Anthony, conferences we X industry, of COVID. don't with yet in Yes. it particular, -- to want year. know that just how I but a And short did in not have greatly our follow go XX, list your comment, this Chuck's in to shows, don't

And so a is sure and trying have are going to conferences to. X we're the to that happen of get that -- very we're we we list not but -- conference

And so and we're think that. towards I targeted them working we've

Chuck, past, trying and we're ], I Grant the think in and to to get potential predecessors our back that. [ have

Unknown Analyst

word investor attendance, Well, are are mean, or just to back every conferences a I conferences? the guess would that I X a you're at was try go which referring would lot are least I conferences virtually, -- or -- are investment I months, to once you least an -- conferences conference lot the several of so virtually, but there now Because done, to to think there's do referring at my getting be months to even beginning today, investment suggestion trade out.

Michael McCormack

idea. Yes, I great a think it's

Unknown Analyst

it purely just outside IR internal at this you point? Or Okay. firm? Are currently is employing

Charles Griffith

At purely this it's point, internal.

Operator

of from the question Dunn. Lenny line Next

Leonard Dunn

lot you we And way contracts going have Congratulations a defense that running your I proprietary. can't the address guidance understand understand get contracts subcontractor antagonize that you're I'm to give that because business. completely the a the you on the of on give the the people and in firm. large a of investor you're can't can't you have, are the also I you that disclose lot dilemma that contract. you

a and can't little the so understand some least in better that things our of so a can in forward handle because at And us leaves without dilemma to on totally those own? get Hello? But you have what broad on there around things. that why I are can't we being what's we it And some specific give terms we reasons us on. -- arms going do you as guidance do kind investors really

Charles Griffith

we're Yes, here.

Michael McCormack

all is of us for we sharing with you how to We to we we communications our that the there. the to if we're I We're to with improve I far kind think our of guess. more future investors with point, can feel endeavor as how be, would tell as guidance, you thank will. this about much -- sharing. comfortable far you think for not right you comments. Well, Michael, is trying the most That's get now, and going We're certainly but

disclose a But right to walk we have are us now, we don't that right? customers customers line here, trying to things. to We want -- point, your have

pandemics, competition, we have have war. We we have

I best we We It's guess. have business. to, see reporting don't we you control. change right the the The much the lots things control, now. we've we But of enough things try of of decades can, to share do we I we share don't can I think, with as been way as

Leonard Dunn

by... was I encouraged Well,

Michael McCormack

And that -- you're welcome mean and out come at we visit show visit. we can we welcome figure to I you could any you offline, and more. to

Leonard Dunn

recovering the a from hospital, I've can't so, one, very problems, that encouraged exercised I'm I But so come by I insiders. of saw said, COVID, options the I Well, guess, couple with the in being what visit. number week last I'm been from or

evaluate. to I little way discouraged holder, all, of But had We're add. we I'm just continue a very we're certainly us forward. to But very not -- you're understanding going where it's everything or that just is a message better obviously, that long-term good hard going, going you So certainly at to not going -- wouldn't happened. believe sending wish be forward that have may

know disclose you don't own least to effort little can what a of feeling as better and we owners. give I at make So a at what more least us

Charles Griffith

Yes.

XXXX we've allow major to we'll -- I to were. certainly, know, -- going in think and you -- about the sales bit kinds was with get for we're that think our little a XXXX what certainly announce it bookings December our continue if talked as in I double bookings, we the we to those And us past, year, we're contracts announce, things. of

will as kinds as those much of possible. to obviously, things, continue do So

Leonard Dunn

you help be to and asked Well, little, very would a Okay. whatever can do appreciated. much I've

Operator

continue. There are time. no Please this questions at further

Charles Griffith

it. that's think I

Michael McCormack

day. it, Thank that I this have Chuck very you and is pointed doing Chuck is to time. welcome a more forward that's Chuck, out behalf good of great Lenny you afternoon like I that we Well, it showed talking well. your guys you thank if a Hopefully, and it We for feel feel we in. obviously, much. you, the think Have believe on the business. and everybody, I, And to business feedback. look And

Charles Griffith

you, Thank everybody.

Operator

for today's participating. you, concludes everyone, That Thank conference.

all disconnect. You now may

CPS Technologies (CPSH) 3 Mar 222021 Q4 Earnings call transcript