secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001437749-24-016793
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sypris Q1 revenue up 10% to $35.6M; net loss widens to $2.2M on program ramp costs
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- Q1 revenue $35.6M (+10.1% YoY); net loss $2.2M ($0.10/sh) vs $0.2M loss prior year.
- Sypris Electronics revenue +34.5% YoY to $17.2M; margin fell to 4.8% from 11.9% on ramp costs.
- Sypris Technologies revenue -5.9% to $18.4M; gross margin 11.2% vs 13.5% on lower volume and FX.
- Backlog exceeds $110M; full-year revenue growth reaffirmed at 10-15%, gross margin guidance adjusted to +100-125 bps.
- New awards: specialty closures for LNG carbon capture project; additional U.S. Navy electronic warfare modules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000143774924016793/0001437749-24-016793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000143774924016793/sypr20240513_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-016793

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