secwatch.observer — SEC 8-K summary
======================================

Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2021-11-10T23:59:59+00:00
Accession:  0001157523-21-001386
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sypris Q3 revenue up 15.9% to $25.7M; net income $0.3M; 2021 outlook cut to 20-25% growth
--------------------------------------------------------------------------------

- Q3 revenue $25.7M (+15.9% YoY); net income $0.3M ($0.01 diluted) vs $3.5M ($0.17) in prior year with $3.2M tax benefit.
- Sypris Electronics gross margin 20.8% (up 460 bps); backlog +24% YoY. Sypris Technologies revenue $16.7M (+38%) but margin fell to 12.6%.
- New contract awards: Army Key Management System circuit cards and fighter jet electronic warfare power supplies; production starts late 2021/Q1 2022.
- 2021 revenue growth guidance lowered to 20-25% from prior due to supply chain; Q4 gross margin expected to expand 400-500 bps YoY.
- 2022 outlook: revenue +25%, gross margin +200 bps, cash flow from operations forecast to materially increase YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000115752321001386/0001157523-21-001386-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000115752321001386/a52526782.htm
  HTML page:      https://secwatch.observer/filing/0001157523-21-001386

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer