CPI Aerostructures sees FY12 gross margin at high end of 25%-27% range Says will achieve net income guidance of $12M. Discussing the outlook for 2013, the company says “As is the case for our industry peers, it remains unclear whether sequestration will take effect in January 2013 and what the impact of even deeper cuts in defense spending will have on CPI Aero’s existing and projected defense contracts. We plan to announce our 2013 guidance once the federal budget situation becomes sufficiently defined.”
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CPI Aerostructures nanes Douglas McCrosson as President and CEO CPI Aerostructures announced that long-time CPI Aero executive and COODouglas J. McCrosson has been named President and CEO effective today, March 6. McCrosson has also been appointed to the Company’s board of directors. Edward J. Fred has resigned as President and CEO and as a director of the company. Fred resigned for personal reasons. Fred will remain with CPI Aero in an advisory capacity until May 16, 2014 and as a consultant to the company until November 16, 2015.