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By Sam Boughedda
Investing.com — CPS Applied sciences (NASDAQ:), the developer and producer of superior supplies options and merchandise, has seen its shares soar in Tuesday buying and selling after asserting file orders in 2021.
The orders added as much as greater than $37 million for the corporate, exceeding the mixed bookings of the 2 earlier years.
CPS shares are presently up 25%.
“These file ranges of orders are in line with our strategic plan for development throughout all product traces at CPS,” mentioned VP of Gross sales Cheryl Oliveira. “Apart from these current contract awards, CPS additionally has a lot of alternatives in each the buyer electronics, and Aerospace and Protection markets.”
The corporate mentioned the rise in gross sales has been helped by its investments in amenities and personnel earlier within the 12 months. In July, Michael McCormack took over as president and CEO after Grant Bennett retired.
“The New Product Growth Lab coupled with the elevated technical experience, particularly Dr. Steve Kachur and William Holmes, has accelerated our development plans enabling us to enter into new markets and functions,” mentioned CPS CFO Chuck Griffith.
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