Sypris Q1 revenue up 23% to $32.3M; net loss $0.2M vs profit year ago

SYPRIS SOLUTIONS INC

2023-Q1 EPS reported -$0.01 revenue$32,292,000

Orders rose 74% YoY; backlog hit $131.6M, up 121% from prior year.
Sypris Electronics revenue +42% to $12.8M; backlog up 125% to $131.6M.
Sypris Technologies revenue +13.7% to $19.5M; gross margin fell to 13.5% from 18.3% on FX and mix.
Full-year outlook: revenue growth 25-30%; gross margin expansion of 150-200 bps despite FX headwinds.
New awards: DoD missile module, U.S. Navy power supply, Detroit Diesel driveline, and UTV drivetrain components.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

SYPRIS SOLUTIONS INC reported first quarter ended April 2, 2023 results: revenue $32.3 million, net income net loss of $0.2 million, or $0.01 per share, EPS $0.01 per diluted share. Guidance reaffirmed.

Period: first quarter ended April 2, 2023
Revenue: $32.3 million
Net income: net loss of $0.2 million, or $0.01 per share
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Company reported revenue of $32.3 million for the first quarter of 2023, compared to $26.2 million for the prior-year comparable period. Additionally, the Company reported a net loss of $0.2 million, or $0.01 per share, as compared to net income of $0.2 million, or $0.01 per diluted share, for the prior-year period.

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Source: SEC EDGAR

accession 0001157523-23-000852

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