Sypris Q2 revenue up 12% to $29M; net loss $0.03/sh; backlog up 77%

SYPRIS SOLUTIONS INC

2022-Q2 EPS reported -$0.02 revenue$55,210,000

Revenue $29.0M (+11.8% YoY); net loss $0.6M ($0.03/sh) vs prior-year net income of $3.8M (incl. $3.6M PPP loan forgiveness gain).
Sypris Electronics revenue +25.6% to $11.1M; backlog +84.1% YoY; multiple defense contract awards starting production in 2022.
Sypris Technologies revenue +4.7% to $18.0M; gross margin 11.9% vs 14.6% on mix shift and capacity costs.
Orders increased 360% YoY and 169% sequentially; total backlog up 77% to highest in over a decade.
FY2022 outlook: revenue growth 25-30% maintained; gross margin guidance adjusted to +25-50 bps; double-digit cash flow growth expected.

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