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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000814676-10-000004.txt : 20100510
<SEC-HEADER>0000814676-10-000004.hdr.sgml : 20100510
<ACCEPTANCE-DATETIME>20100510171505
ACCESSION NUMBER:		0000814676-10-000004
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100327
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20100510
DATE AS OF CHANGE:		20100510

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPS TECHNOLOGIES CORP/DE/
		CENTRAL INDEX KEY:			0000814676
		STANDARD INDUSTRIAL CLASSIFICATION:	POTTERY & RELATED PRODUCTS [3260]
		IRS NUMBER:				042832509
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16088
		FILM NUMBER:		10817586

	BUSINESS ADDRESS:	
		STREET 1:		111 SOUTH WORCESTER STREET
		CITY:			NORTON
		STATE:			MA
		ZIP:			02766
		BUSINESS PHONE:		508-222-0614

	MAIL ADDRESS:	
		STREET 1:		111 SOUTH WORCESTER STREET
		CITY:			NORTON
		STATE:			MA
		ZIP:			02766

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CERAMICS PROCESS SYSTEMS CORP/DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8051010.htm
<DESCRIPTION>FORM 8-K DATED MAY 10, 2010
<TEXT>
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<TITLE>UNITED STATES</TITLE>
</HEAD>
<BODY>

<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
 </P>
<P ALIGN="CENTER">FORM 8-K<BR>
</P>
</B><P> </P>
<P ALIGN="CENTER">Current Report<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<BR>
</P>
<P ALIGN="CENTER">Date of Report (Date of earliest event reported): May 10, 2010</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
</FONT></FONT><B><FONT FACE="Arial"><P ALIGN="CENTER">CPS TECHNOLOGIES CORPORATION<BR>
</B></FONT><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2>(Exact Name of Registrant as Specified in its Charter)</P>
<P ALIGN="CENTER"></P></FONT></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=654 DIR="LTR">
<TR><TD WIDTH="33%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Delaware</B></FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">0-16088</B></FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">04-2832409</B></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(State or other jurisdiction of incorporation)</P>
<P ALIGN="CENTER"></FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(Commission File Number)</FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(IRS Employer Identification No.)</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">111 South Worcester Street, Norton, Massachusetts</B></FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">02766</B></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(Zip Code)</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Registrant`s telephone number, including area code</FONT></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">508-222-0614</B></FONT></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(Former name or former address, if changed since last report.)</FONT></FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2>
<P>&nbsp;</P>
<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<U>see</U> General Instruction A.2. below):</P>

<P>[ ]&#9;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P>[  ]&#9;Soliciting material pursuant to Rule 14a-12 under the exchange Act (17 CFR 240.14a-12)</P>

<P>[  ]&#9;Pre-commencement communications pursuant to rule 14d-2(b) under the <BR>
Exchange Act  (17CFR 240.14d-2(b))</P>

<P>[  ]&#9;Pre-commencement communications pursuant to Rule 13e-4( c))  under the <BR>
Exchange Act (17 CFR 240.13e-4( c)).</P>

<P>&nbsp;</P>
<P> </P>

<P>Item 2.02    &#9;Results of Operations and Financial Condition </P>
<P>On May 10, 2010, the Company issued a press release announcing its financial results for the fiscal quarter  ended March 27, 2010. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference. </P>

<P>Cautionary Note Regarding Forward-Looking Statements.<BR>
Except for historical information contained in the press release attached as an exhibit hereto, the press release contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.</P>

<P>Item 9.01&#9;Financial Statements and Exhibits</P>

<P>(d)</P>
</FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637 DIR="LTR">
<TR><TD WIDTH="21%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>EXHIBIT NUMBER</P>
</FONT></FONT></TD>
<TD WIDTH="79%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>DESCRIPTION</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>99</FONT></FONT></TD>
<TD WIDTH="79%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Press released dated May 10, 2010 of CPS Technologies Corporation announcing its financial results for the fiscal quarter  ended March 27, 2010.</FONT></FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </P>

<P>&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURE</P>
<P ALIGN="CENTER"></P>
</B><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>
</FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638 DIR="LTR">
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">CPS Technologies Corporation</B><BR>
</U>(Registrant)</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Date:  May 10, 2010</FONT></FONT></TD>
<TD WIDTH="49%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">/s/ Grant C. Bennett<BR>
Grant C. Bennett<BR>
President and Treasurer<BR>
(Principal Executive Officer)</FONT></FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2>
<P>EXHIBIT INDEX </P></FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637 DIR="LTR">
<TR><TD WIDTH="21%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>EXHIBIT NUMBER</P>
</FONT></FONT></TD>
<TD WIDTH="79%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>DESCRIPTION</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>99</FONT></FONT></TD>
<TD WIDTH="79%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Press released dated May 10, 2010 of CPS Technologies Corporation announcing its financial results for the fiscal quarter ended March 27, 2010.</FONT></FONT></TD>
</TR>
</TABLE>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>pr051010.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 10, 2010
<TEXT>
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<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER"></P>
<P>CPS Technologies Corporation<BR>
Grant Bennett, President<BR>
111 South Worcester Street<BR>
Norton, MA 02766<BR>
Telephone: (508) 222-0614 ext 218&#9;Fax: (508) 222-0220<BR>
Web Site:  www.alsic.com</P>

</FONT></FONT><B><FONT FACE="Arial"><P ALIGN="CENTER">CPS TECHNOLOGIES CORPORATION ANNOUNCES FIRST QUARTER 2010 RESULTS<BR>
</P>
</B></FONT><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Norton, Massachusetts, May 10, 2010.  CPS Technologies Corporation (OTCBB: CPSH), a provider of advanced material solutions, today announced revenue of $5.4 million and net income of $165 thousand or $0.01 per basic and diluted share for the fiscal quarter ended March 27, 2010.    This compares with revenue of $3.1 million and net income of $95 thousand or $0.01 per basic and diluted share for the fiscal quarter ended March 28, 2009.  </P>
<P>&#9;</P>
<P>Grant Bennett, President, said, &quot;We are very pleased with the 77% increase in revenues in Q1 2010 compared to Q1 2009 resulting from several independent and very positive factors.  Demand for heatspreaders used for internet routers and switches increased primarily as a result of improvements in the macroeconomic environment, secondarily due to new products entering production.  Demand for baseplates used in motor controls for trains, subway cars and wind turbines increased due primarily to CPS gaining market share, secondarily to improvements in the macroeconomic environment.  Demand for baseplates used in hybrid and electric vehicles increased as demand for products currently in production increased, and as we shipped increased numbers of qualification samples for future programs.  Demand for hermetic packages remained steady.&quot;</P>

<P>Although revenues from the Company`s contract with the Army for armor development declined slightly, the decline is merely typical quarter-to-quarter fluctuations due to timing of specific tasks.</P>

<P>Net income increased 73% in Q1 2010 compared to Q1 2009.  In Q1 2010 we incurred significant overtime expense as we ramped up production.  We have been hiring throughout Q1 and expect less overtime expense in Q2 and throughout the rest of the year.  Income tax expenses in Q1 2010 were also considerably higher due to increased income and because the deferred tax asset valuation allowance associated with net operating loss carryforwards was reduced to zero at the end of 2009.  Pretax income in Q1 2010 was 168% higher than pretax income in Q1 2009.</P>

<P>Our products are used in high-power, high-reliability applications, providing both higher performance and improved efficiency in the use or generation of energy.  These applications are in the mainstream of the growing movement towards alternative energy and &quot;green&quot; lifestyles.  Management believes underlying demand for these applications is growing, and that CPS is well positioned to capture that growth.</P>

<P>This release does contain forward-looking statements.  Various factors could cause actual results to differ materially from those projected in such statements.  These factors include, but are not limited to, a continued or deepening general economic or business downturn in 2010 or a downturn in the electronics industry.  </P>

<P><A NAME="OLE_LINK1"><A NAME="OLE_LINK2"></P>
</FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=2 WIDTH=512 DIR="LTR">
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P></A></A>CPS TECHNOLOGIES CORPORATION</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="57%" VALIGN="TOP" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>(OTC BULLETIN BOARD: CPSH)</FONT></FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Quarter Ended:</U></FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">March 27, 2010</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">March 28, 2009</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Revenues</FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$5,409,186</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$3,052,641</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Net income</FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$164,643</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$95,090</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Basic and diluted income per share</FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$0.01</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$0.01</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Weighted average basic shares</FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">12,624,959</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">12,624,959</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="53%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Weighted average diluted shares</FONT></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">12,917,980</FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">13,013,718</FONT></FONT></TD>
</TR>
</TABLE>

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