CPI Aerostructures Claims $23.4 Million Of 2009 Contracts

(Comment on this article at http://www.financialwire.net/2010/01/15/cpi-aerostructures-claims-23-4-million-of-2009-contracts/)

January 15, 2010 (FinancialWire) -- CPI Aerostructures, Inc. (AMEX: CVU) said that its 2009 new contract awards totaled around $23.4 million. Of this amount, around $10.6 million, $6.9 million and $5.8 million were government prime contract awards, government subcontract awards and commercial subcontract awards, respectively.

As reported last month, CPI Aero received two contracts from Lockheed Martin (NYSE: LMT) to produce aircraft structural assemblies for the U.S. Navy's P-3 "Orion" aircraft.

With other orders and Spirit AeroSystems contract adjustments for the Gulfstream G650 business jet, fourth quarter awards added $8.4 million to the $15.0 million of new orders as of September 30, 2009.

CPI Aero is engaged in the contract production of structural aircraft parts for prime defense contractors, the U.S. Air Force, and other branches of the armed forces.

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