TechPrecision Corp. (TPCS.OB), through its wholly-owned subsidiary Ranor Inc., manufactures metal fabricated and machined precision components and equipment. The company’s products are used in a variety of markets, including alternative energy, nuclear, medical, industrial, defense and aerospace.
TechPrecision provides critical components to several key industries such as medical and alternative energy. The company is currently working with a customer to help develop a Proton Beam Therapy machine. Proton Beam Therapy is an alternative method of delivering radiation treatments to cancer patients with minimal collateral damage to surrounding healthy tissue and organs.
TechPrecision provides critical proprietary components for the solar industry, and has a track record of providing key components to the nuclear industry as well. The company supplies commercial nuclear work by producing parts used in power plants, or products that are used to store and/or transport nuclear material. The company is one of the very few companies certified by the American Society of Mechanical Engineers (ASME) to do such work.
Both the solar and nuclear industries are expected to experience rapid growth due to continued strong demand for energy coupled with concerns about carbon emissions and dependence on foreign oil. These macro-economic trends are currently in TechPrecision’s favor and are showing up in the company’s earnings report. For the 4th fiscal quarter of 2008, sales for the company increased by 64.5% to $9.3 million and profit rose 185.6% to $2.6 million.
The increase in sales and profit reflects TechPrecision’s business re-focus towards longer-term, high volume projects with more predictable cost structures in the alternative energy, nuclear, and medical industries. As one of the few full-service fabrication and machining companies that can supply large high-precision key components and complete program integration, TechPrecision believes that it is well positioned to benefit from strong demand from the various industrial sectors the company serves.
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