CPI Aerostructures, Inc. Resolves SEC Inquiry and Demonstrates Remarkable Financial Performance

EDGWOOD, N.Y. June 20, 2024 - CPI Aerostructures, Inc. (NYSE American: CVU), a leading aerospace and defense contractor, has reached a settlement with the Securities and Exchange Commission (SEC) regarding the restatement of certain financial statements for the fiscal periods between January 1, 2018 and December 31, 2022.

The settlement was announced by CPI Aerostructures, Inc. today and represents a commitment from the company to rectify any accounting irregularities that may have occurred during the aforementioned period. Details of the settlement remain confidential, but the company assures its stakeholders that the necessary actions have been taken to address the SEC's concerns.

CPI Aerostructures, Inc. specializes in the manufacturing and assembly of structural aircraft parts for various leading aerospace companies. The recent restatements of its financial statements indicate that there were discrepancies in the reporting of financial data. The company's management acknowledges these errors and emphasizes its commitment to implementing rigorous financial controls to prevent such issues from reoccurring in the future.

This settlement comes in the wake of CPI Aerostructures, Inc.'s impressive financial performance in the first quarter of 2024. The company achieved a remarkable return on average invested assets (ROI) of 45.65%, far surpassing its average return on investment of 5.88%. This indicates the company's ability to generate significant returns for its investors.

While the settlement with the SEC reflects a temporary setback for CPI Aerostructures, Inc. the company remains confident in its ability to move forward and regain the trust of its shareholders. The management team is diligently working to enhance accounting practices, improve financial reporting, and ensure compliance with all regulatory requirements.

More Cpi Aerostructures Inc 's News

Cpi Aerostructures Inc CPI Aerostructures, Inc. and MST Manufacturing Sign Long Term Agreement July 22, 2024

Cpi Aerostructures Inc Soaring High CPI Aeros Strategic Wins Propel It to New Heights in Aerospace and Defense July 8, 2024

Cpi Aerostructures Inc CPI Aerostructures Secures $1.3 Million Follow-on Orders While Supplier Sales Show Mild Deterioration June 5, 2024

Cpi Aerostructures Inc CPI Aerostructures Enhances Program Management Capabilities with Appointment of Ross Johnson as Vice President, Strengthening Financial Performance and Fuelling Growth January 16, 2024

More Management Announcement News

Management Announcement Li Autos Strategic Pivot: Navigating Growth Amidst Temporary Setbacks in Chinas EV Landscape June 27, 2025

Management Announcement Stifel Financial Corp. Posts Positive May Operating Results and Accelerates Growth with Successful Acquisition of B. Riley Advisors, June 26, 2025

Management Announcement Earlyworks Co., Ltd. Receives Nasdaq Lifeline Amid Signs of Financial Recovery, June 26, 2025

Submit

Previous News

LPL Financial Welcomes Seasoned Advisor W. Scott Hengerer to Launch James River Private Wealth

Huize Holding Limited's Strategic Acquisition Furthers Expansion Plans and Fuels Pan-Asian Insurance Distribution Platform under Poni Insurtech Brand

Grupo Aeroportuario del Pacifico Expands Financial Capacity with Ps. 875.0 Million Credit Facility Drawdown

Fortuna Silver Mines Inc. Shareholders Approve Annual Meeting Agenda and Renewed Share Repurchase Program

Celestica Amends and Upsizes Credit Facility: Paving the Way for Unparalleled Growth and Innovation

Twilio Earns Leader Spot in 2024 IDC MarketScape for CCaaS Amid Mixed Financial and Market Dynamics

A Sparkling Alliance LaCroix Partners with Inter Miami CF Amid Booming Financial Success

Beazer Homes USA, Inc. Pioneering Sustainability in the Housing Market and Achieving Financial Success

Asana Inc. Announces $150 Million Stock Repurchase Program as Corporate Clients Witness Mixed Revenue Results

Ultragenyx Pharmaceutical Grants Restricted Stock Units to Newly Hired Non-Executive Officers and Announces Public Offering of Common Stock