TechPrecision receives 2023 preliminary financial results of Votaw

TechPrecision Corporation has received preliminary financial results for the fiscal year ended October 31, 2023 of Votaw Precision Technologies. As previously announced, TechPrecision is party to a securities purchase agreement under which TechPrecision agreed to purchase all of the issued and outstanding common stock of Votaw. TechPrecision cautions that while Votaw has produced its financial statements internally, they have been prepared by, and are the responsibility of Votaw’s management and at this time have not yet been audited, reviewed or subject to the performance of any procedures by Votaw’s independent registered accountants, nor have its accountants expressed an opinion or any other form of assurances with respect thereto. Accordingly, although Votaw’s actual audited results are not expected to vary materially from the preliminary results included below, investors should be advised that these remain preliminary. Votaw reports Q4 revenue $13.7M; Net income $2M; adjusted EBITDA $2.93M.