secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001157523-23-000446
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sypris Q4 revenue up 15% to $29.7M, backlog jumps 117%, raises 2023 outlook
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- Q4 revenue $29.7M (+15.2% YoY); net income $0.1M ($0.01 diluted EPS) vs $0.4M ($0.02) prior year.
- Full-year revenue $110.1M; net loss $2.5M ($0.11 loss per share) vs net income $2.9M ($0.13) in 2021 (incl. $3.6M PPP gain).
- Record backlog $118.5M, up 117% YoY; orders +102.7% YoY; Sypris Electronics backlog +119.5% to $118.5M.
- 2023 outlook raised: revenue expected to increase 25-30% YoY, margin expansion 175-225 bps, positive cash flow.
- New awards: $77M Navy program amendment, DOD missile system award, Detroit Diesel driveline components.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000115752323000446/0001157523-23-000446-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000115752323000446/a53361970.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000446

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