WESTMINSTER, Mass., Aug. 26 /PRNewswire-FirstCall/ -- TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), a leading manufacturer of large-scale, high-precision machined metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that James Molinaro, the Company's chief executive officer, will present at the Rodman & Renshaw Annual Global Investment Conference at 11:15 a.m. (ET) on September 13, 2010. The conference will be held September 12-15, 2010 at the New York Palace Hotel, 455 Madison Avenue, New York, NY. TechPrecision management will be available during the day on September 13 for one-on-one meetings. Please contact your Rodman & Renshaw representative to schedule a meeting.
Mr. Molinaro will discuss the Company's operational results, growth strategy, and its high-precision technologies. TechPrecision benefits from a diversifying platform and a rebound in its core market sectors especially within the clean tech vertical where it recently signed a multi-million dollar deal with a new Tier-1 customer. In addition, the Company is seeing improvements in several of the other verticals it serves. This has resulted in a significant increase in backlog as well as sequential improvements in revenue. First quarter sales increased 85.4% to $6.2 million year over year and 32.2% sequentially from the fourth fiscal quarter of 2010.
Investors and other interested parties may access the live presentation at http://www.wsw.com/webcast/rrshq18/tpcs.
About Rodman & Renshaw
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.
About TechPrecision Corporation
TechPrecision Corporation, through its wholly-owned subsidiary Ranor, Inc., manufactures metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy, medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end service provider to its customers by furnishing customized and integrated "turn-key" solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
SOURCE TechPrecision Corporation