CPI Aerostructures Reports Third Quarter 2020 Results GlobeNewswire Revenue of $25.6 million compared to $22.7 million; Gross profit of $4.2 million compared to $1.9 million; Gross margin was 16.4% compared to 8.5%; Net income of $0.82 million compared to net loss of $1.3 million; Earnings per diluted share of $0.07 compared to loss per diluted share of $0.11; Cash used by operations was $2.4 million compared to a use of $0.65 million; Total backlog as of September 30, 2020 of $536.9 million including multi-year defense contracts of $480.2 million compared to total backlog as of September 30, 2019 of $523.3 million, including multi-year defense contracts of $454.1 million; Total funded backlog of $189.6 million as of September 30, 2020, of which 97% or $183.9 million is comprised of defense orders, compared to total funded backlog of $153.4 as of September 30, 2019, of which 91%, or $139.7 million is comprised of defense orders.