CPSH - CPS Technologies rallies on HybridTech Armor panels purchase order

CPS Technologies (CPSH) surged 24.1% in after hours trade after receiving a purchase order for HybridTech Armor Panels to be installed as the strike face of advanced ballistic shields to support U.S. Navy CVN class ships.The purchase order covers panels to equip all crew-served weapons stations on one aircraft carrier.CPS supplies the HybridTech Armor Panels to its partner, Kinetic Protection, located in Stillwater Minnesota, who assembles the complete armor system which is then installed on the aircraft carrier."We have received a $28.7M IDIQ contract from the Navy to address the aircraft carrier fleet, with an initial delivery order for the first aircraft carrier," Kinetic Protection president Erik Crawford commented.Excluding submarines, the U.S. Navy currently has a fleet of 400+ ships.

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CPS Technologies rallies on HybridTech Armor panels purchase order