secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2022-05-18T23:59:59+00:00
Accession:  0001157523-22-000652
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sypris Q1 revenue up 30.9% to $26.2M; net income $0.2M vs loss; reaffirms 2022 outlook
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- Revenue $26.2M (+30.9% YoY); diluted EPS $0.01 vs ($0.08) loss in prior year period.
- Gross margin expanded 810 bps to 17.2%; Sypris Technologies gross margin 18.3% (+940 bps), Sypris Electronics 15.3% (+580 bps).
- New multi-year contract awards for U.S. Navy and anti-ship missile programs; also long-term extensions for commercial vehicle drivetrain components.
- Reaffirms FY 2022 outlook: revenue growth 25-30% YoY, 200-250 bps gross margin expansion, strong cash flow growth.
- Backlog grew to largest in over a decade with deliveries into 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000115752322000652/0001157523-22-000652-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000115752322000652/a52722845.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000652

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