TechPrecision Corporation Announces Backlog Exceeds $20 Million

WESTMINSTER, Mass., March 24 /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 reported that its backlog had reached $20.7 million as of March 15, 2010.  The comparable backlog at March 31, 2009 was $21.8 million.

TechPrecision's backlog as of the quarter ended December 31, 2009 was $15.7 million, increasing to $18.1 million as of the end of January, 2010.  The $2.6 million net increase during the last 45 days is due to $4.8 million in new orders, offset by shipped orders against the existing backlog.  This increase includes orders from several verticals, most notably from its largest customer, GT Solar.

"We have essentially rebuilt our backlog to the levels of one year ago, as anticipated, executing on our goal to rebuild the business and create a diversified engine for sustainable growth," said Mr. Louis Winoski, Interim CEO of TechPrecision Corporation. "Thus far during calendar 2010 we have seen steady improvements throughout the industries we serve, demonstrating that many of our markets are rebounding and solidifying our confidence for a much-improved 2010.  Specifically, we have seen increased activity from our largest customer, who has delivered $7.9 million in new orders over the last 90 days, as well as our top-tier customers in the defense sector. As we transition into our next fiscal year, at the close of this month, we expect that our expanded investment in business development activities, coupled with continued economic improvement in the sectors we serve, should enable us to transition more of our opportunity pipeline into firm orders that further expands the backlog and extends our forward visibility for fiscal years 2011 and 2012."

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

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