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Technology Stocks : CPI Aerostructures (CVU)- Take a Look (was CPI)
CVU 2.770+17.1%Oct 30 3:59 PM EDT
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To: CJ Owen Critchley who started this subject3/17/2003 9:00:04 AM
From: leigh aulper   of 213
 
CPI Aerostructures Announces Fiscal 2003 T-38 Contract Award Valued at Nearly $5 Million; Year-to-Date Awards Approximate $10.5 Million
BUSINESS WIRE - March 17, 2003 08:38
EDGEWOOD, N.Y., Mar 17, 2003 (BUSINESS WIRE) -- CPI Aerostructures, Inc. (AMEX Symbol: CVU) announced today that the U.S. Air Force has released to the Company its 2003 contract award for the T-38 Talon trainer aircraft.

"We have received the current fiscal year release on our T-38 contract, which is for 40 ship-sets of structural inlets as part of the Propulsion Modernization Program on this aircraft," stated CPI's President & CEO, Edward J. Fred. "This release is valued at approximately $4.965 million, which brings the total amount of awards CPI has received thus far this year to approximately $10.5 million."

Mr. Fred continued, "At this time last year, the Company had received approximately $7.7 million in new awards which included the 2002 release for the T-38. With our 2003 new contract awards running 36% ahead of last year, we have even greater conviction that we will deliver on our previously published 2003 revenue guidance of a minimum of $30 million."
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