Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - TECHPRECISION CORP | ex99-1.htm |
| 8-K - TECHPRECISION CORPORATION FORM 8-K - TECHPRECISION CORP | techprecision8k.htm |
Exhibit 99.2
Q2 FY13 Shareholder Conference Call
November 2012
© 2012. All rights reserved.
© 2012. All rights reserved.
2
Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any
statements set forth in this presentation that are not historical facts are forward-looking
statements that involve risks and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, which may include, but are not limited to, such
factors as unanticipated changes in product demand, increased competition, downturns in the
economy, failure to comply with specific regulations pertaining to government projects,
fluctuation of revenue due to the nature of project lifecycles, and other information detailed
from time to time in the Company filings and future filings with the United States Securities and
Exchange Commission. The forward-looking statements contained in this presentation are made
only of this date, and the Company is under no obligation to revise or update these forward-
looking statements.
statements set forth in this presentation that are not historical facts are forward-looking
statements that involve risks and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, which may include, but are not limited to, such
factors as unanticipated changes in product demand, increased competition, downturns in the
economy, failure to comply with specific regulations pertaining to government projects,
fluctuation of revenue due to the nature of project lifecycles, and other information detailed
from time to time in the Company filings and future filings with the United States Securities and
Exchange Commission. The forward-looking statements contained in this presentation are made
only of this date, and the Company is under no obligation to revise or update these forward-
looking statements.
Agenda
© 2012. All rights reserved.
3
• Q2 Overview
• Q2 FY 2013 Financial Detail
• Operations and Business Update
• FY13-FY16 Outlook
Q2 Income Statement
4
© 2012. All rights reserved.
4
• Sequential improvement
as per plan
as per plan
• Q2 FY12 revenue included
~$1.8-million of higher
margin product lines from
5 significant customers
when compared to the
revenue and shipment mix
during Q2 FY13.
~$1.8-million of higher
margin product lines from
5 significant customers
when compared to the
revenue and shipment mix
during Q2 FY13.
|
Consolidated Income Statement
($ in Millions except Percentages, Shares & EPS)
|
Q2 2013
9/30/2012
|
Q2 2012
9/30/2011
|
|
Q1 2012
6/30/2012
|
|
Revenues
|
$8.1
|
$7.1
|
|
$7.1
|
|
Gross Profit
|
$1.9
|
$1.9
|
|
$1.1
|
|
Gross Margin
|
24%
|
27%
|
|
15%
|
|
Operating Expenses
|
$1.9
|
$2.0
|
|
$2.0
|
|
Operating Income (Loss)
|
$14,000
|
$(39,000)
|
|
$(895,000)
|
|
Operating Margin
|
0.2%
|
(5.4)%
|
|
(12.5)%
|
|
Net (Loss)
|
($45,000)
|
$(88,000)
|
|
$(706,000)
|
|
Net Margin
|
(0.6)%
|
(1.2)%
|
|
(9.9)%
|
|
Weighted Average Shares - Basic
|
18.696
|
16.546
|
|
18.395
|
|
EPS - Diluted
|
$(0.00)
|
$(0.01)
|
|
$(0.04)
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Revenue Distribution
© 2012. All rights reserved.
5
Revenue
recognition issue
recognition issue
Production from Q2
recognized
recognized
YTD Fiscal 2013 Income Statement
|
Consolidated Income Statement
($ in Millions except Percentages,
Shares & EPS) |
YTD 2013
9/30/2012
|
YTD 2012
9/30/2011
|
|
Revenues
|
$15.2
|
$16.3
|
|
Gross Profit
|
$3.0
|
$4.3
|
|
Gross Margin
|
19.9%
|
26.6%
|
|
Operating Expenses
|
$3.9
|
$3.7
|
|
Operating Income (Loss)
|
$(881,000)
|
$656,000
|
|
Operating Margin
|
(5.8)%
|
4.0%
|
|
Net Income (Loss)
|
$(751,000)
|
$293,000
|
|
Net Margin
|
(4.9)%
|
1.8%
|
|
Weighted Average Shares - Basic
|
18.614
|
16.049
|
|
EPS - Diluted
|
$(0.04)
|
$0.01
|
6
© 2012. All rights reserved.
6
Balance Sheet Highlights
© 2010. All rights reserved.
7
|
($ in Millions)
|
September 30, 2012
|
March 31, 2012
|
|
Cash
|
$2.1
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$2.8
|
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Current Assets
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$15.5
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$16.3
|
|
Total Assets
|
$23.6
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$24.1
|
|
Current Liabilities
|
$6.5
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$6.1
|
|
Total Liabilities
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$12.0
|
$11.9
|
|
Total Stockholders’ Equity
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$11.6
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$12.2
|
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Long-Term Debt
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September 30, 2012
|
|
Term Note
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$285,714
|
|
Series A & B Bonds
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$5,381,547
|
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CapEx Debt/Capital Lease
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$830,415
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Total Long-Term Debt
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$6,497,676
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Strategic Production Solutions for Profitable Growth
© 2012. All rights reserved.
8
AOS: Nuclear Isotope and Fissile
(pending) Transport Casks
(pending) Transport Casks
S250 Proton Beam
Cancer Treatment
(510k approval)
Carbon Black
Furnaces
GDEB/BAE: Multiple
Confidential Virginia Class
Product Assemblies
Confidential Virginia Class
Product Assemblies
Sapphire Furnaces
PolySi Furnaces
Design
Machine
Fabrication
Electrical
Test
Updated FY2013 Customer and Sector Pipeline
© 2012. All rights reserved.
9
Alternative Energy:
Sapphire Pipeline: $4 - $5M
PolySi & Solar Pipeline: $7 - $8M
Nuclear: $7 - $10M
Defense and Aerospace: $9 - $12M
Medical: $8 - $9M
Commercial Industrial: $4 - $5M
Current Backlog
(Oct 31st) $26.6-million
Revenue Outlook/Market Growth
10
© 2012. All rights reserved. Not for use or disclosure without the expressed written permission from TechPrecision Corp.
China-based
Production
Production
Domestic
Production
Production
www.TechPrecision.com
www.ranor.com
www.wcmcsolutions.com