CPS Technologies Product Line Growth and Fourth Quarter Update
January 30 2020 - 05:00PM
CPS Technologies Corporation (Nasdaq:CPSH) today announced receipt
of a significant design win and initial order from a new customer
for its AlSiC hermetic package combining the CPS proprietary AlSiC
base with a nickel-iron alloy frame.
Cheryl Oliveira, V.P. of Sales, stated, “This design win adds to
our portfolio of customers capitalizing on the lightweight, CTE
matching properties provided by the AlSiC base in a hermetic
package. These properties provide significant competitive
advantages when used in satellites, radar, space, and other
applications where weight and high reliability are important
factors. Although the primary applications for AlSiC hermetic
packages are space-based, there are other applications where their
unique properties provide important advantages. We expect AlSiC
hermetic packages with be an increasing contributing factor to our
future growth.”
Commenting on fourth quarter 2019 developments, Grant Bennett,
President and Chief Executive Officer, said, “As described in our
press release for third quarter results, contracts with two major
customers took effect in the fourth quarter and have been and
continue to positively impact financial performance as expected. An
additional multi-year agreement with a third major customer is
being phased in during the first half of 2020 and will be fully
effective as of the beginning of the second half of the year.”
About CPS Technologies Corporation:CPS is a global leader in
producing metal-matrix composite components used to improve
reliability and performance of various electrical systems. CPS
products are used in motor controllers for hybrid and electric
vehicles, high-speed trains, subway cars and wind turbines, as well
as heat spreaders in internet switches, routers and
high-performance microprocessors.
Safe HarborStatements made in this document that are not
historical facts or which apply prospectively, including those
relating to 2019 financial results, are forward-looking statements
that involve risks and uncertainties. These forward-looking
statements are identified by the use of terms and phrases such as
"will," "intends," "believes," "expects," "plans," "anticipates"
and similar expressions. Investors should not rely on forward
looking statements because they are subject to a variety of risks
and uncertainties and other factors that could cause actual results
to differ materially from the company's expectation. Additional
information concerning risk factors is contained from time to time
in the company's SEC filings, including its Annual Report on Form
10-K and other periodic reports filed with the SEC. Forward-looking
statements contained in this press release speak only as of the
date of this release. Subsequent events or circumstances occurring
after such date may render these statements incomplete or out of
date. The company expressly disclaims any obligation to update the
information contained in this release.
CPS Technologies Corporation Chuck Griffith, Chief Financial
Officer 111 South Worcester Street Norton, MA 02766Telephone: (508)
222-0614 Web Site: www.alsic.com
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