EDGEWOOD, N.Y., Jan. 7 (UPI) -- New York headquartered CPI Aerostructures Inc. reports it received a record $122.3 million in new business contracts last year.
The amount of $122.3 million surpasses the company's previous record of $83.6 million in 2011 and compares to $81.6 million in awards received in 2012.
CPI, which manufactures structural components for aircraft, said the 2013 total includes an order received during the 4th quarter that will be publicly announced at a later date.
"We anticipated ending 2013 with a surge in new awards, particularly from our national security customers as the headwinds created by the defense budget and the sequester eased a bit," said Edward J. Fred, chief executive officer and president of CPI Aero. "We ended 2013 with more than $39 million in new awards during the fourth quarter, the majority of which were related to follow-on orders for our A-10 and E-2D programs."
Additional details about the awards were not disclosed.