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Sypris Reports Fourth Quarter Results

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Sypris Solutions (NASDAQ: SYPR) reported Q4 2024 financial results with notable improvements in profitability. The company's gross profit increased 23.1% quarter-over-quarter, with gross margin expanding 350 basis points. Q4 revenue was $33.4 million, with EPS improving to $0.01 from a loss of $0.05 in the prior year.

Sypris Technologies saw a 41.6% surge in gross profit for Q4, benefiting from favorable exchange rates and productivity improvements. Energy product orders rose 8.6% year-to-date. The company's electronics division maintains a strong backlog exceeding $90 million.

For 2025 guidance, Sypris projects revenue between $125-$135 million, gross margin expansion of 150-175 basis points, and expects 10-15% growth in gross profit. The outlook factors in the conversion of certain Mexican facility shipments to a value-add sub-maquiladora basis.

Sypris Solutions (NASDAQ: SYPR) ha riportato i risultati finanziari del Q4 2024 con miglioramenti significativi nella redditività. Il profitto lordo dell'azienda è aumentato del 23,1% rispetto al trimestre precedente, con un margine lordo che si è espanso di 350 punti base. Le entrate del Q4 sono state di 33,4 milioni di dollari, con un utile per azione che è migliorato a 0,01 dollari rispetto a una perdita di 0,05 dollari nell'anno precedente.

Sypris Technologies ha registrato un aumento del 41,6% del profitto lordo per il Q4, beneficiando di tassi di cambio favorevoli e miglioramenti nella produttività. Gli ordini di prodotti energetici sono aumentati dell'8,6% dall'inizio dell'anno. La divisione elettronica dell'azienda mantiene un solido portafoglio ordini che supera i 90 milioni di dollari.

Per le previsioni del 2025, Sypris prevede entrate tra 125 e 135 milioni di dollari, un'espansione del margine lordo di 150-175 punti base e si aspetta una crescita del profitto lordo del 10-15%. Le prospettive considerano la conversione di alcune spedizioni da impianti messicani a una base di sub-maquiladora a valore aggiunto.

Sypris Solutions (NASDAQ: SYPR) informó los resultados financieros del Q4 2024 con mejoras notables en rentabilidad. El beneficio bruto de la compañía aumentó un 23,1% en comparación con el trimestre anterior, con un margen bruto que se expandió en 350 puntos básicos. Los ingresos del Q4 fueron de 33,4 millones de dólares, con un beneficio por acción que mejoró a 0,01 dólares desde una pérdida de 0,05 dólares en el año anterior.

Sypris Technologies experimentó un aumento del 41,6% en el beneficio bruto del Q4, beneficiándose de tipos de cambio favorables y mejoras en la productividad. Los pedidos de productos energéticos aumentaron un 8,6% en lo que va del año. La división de electrónica de la compañía mantiene una sólida cartera de pedidos que supera los 90 millones de dólares.

Para las proyecciones de 2025, Sypris prevé ingresos entre 125 y 135 millones de dólares, una expansión del margen bruto de 150-175 puntos básicos y espera un crecimiento del 10-15% en el beneficio bruto. Las perspectivas tienen en cuenta la conversión de ciertos envíos de instalaciones en México a una base de sub-maquiladora de valor agregado.

Sypris Solutions (NASDAQ: SYPR)는 2024년 4분기 재무 결과를 보고하며 수익성에서 눈에 띄는 개선을 보였습니다. 회사의 총 이익은 전 분기 대비 23.1% 증가하였고, 총 마진은 350 베이시스 포인트 확대되었습니다. 4분기 수익은 3,340만 달러였으며, 주당 순이익은 지난해의 손실 0.05달러에서 0.01달러로 개선되었습니다.

Sypris Technologies는 4분기 총 이익이 41.6% 급증하였으며, 이는 유리한 환율과 생산성 개선 덕분입니다. 에너지 제품 주문은 올해 들어 8.6% 증가했습니다. 회사의 전자 부문은 9천만 달러를 초과하는 강력한 백로그를 유지하고 있습니다.

2025년 가이던스에 따르면, Sypris는 수익을 1억 2,500만 달러에서 1억 3,500만 달러 사이로 예상하며, 총 마진은 150-175 베이시스 포인트 확대될 것으로 보며, 총 이익은 10-15% 성장할 것으로 기대하고 있습니다. 이러한 전망은 특정 멕시코 시설의 선적을 부가가치 서브 마킬라도라 기반으로 전환하는 것을 고려합니다.

Sypris Solutions (NASDAQ: SYPR) a annoncé les résultats financiers du 4ème trimestre 2024 avec des améliorations notables en matière de rentabilité. Le bénéfice brut de l'entreprise a augmenté de 23,1 % par rapport au trimestre précédent, avec une marge brute qui s'est élargie de 350 points de base. Les revenus du 4ème trimestre se sont élevés à 33,4 millions de dollars, avec un bénéfice par action qui s'est amélioré à 0,01 dollar contre une perte de 0,05 dollar l'année précédente.

Sypris Technologies a connu une augmentation de 41,6 % de son bénéfice brut pour le 4ème trimestre, bénéficiant de taux de change favorables et d'améliorations de la productivité. Les commandes de produits énergétiques ont augmenté de 8,6 % depuis le début de l'année. La division électronique de l'entreprise maintient un solide carnet de commandes dépassant 90 millions de dollars.

Pour les prévisions 2025, Sypris projette des revenus compris entre 125 et 135 millions de dollars, une expansion de la marge brute de 150 à 175 points de base, et s'attend à une croissance du bénéfice brut de 10 à 15 %. Les perspectives tiennent compte de la conversion de certaines expéditions d'installations mexicaines sur une base de sous-maquiladora à valeur ajoutée.

Sypris Solutions (NASDAQ: SYPR) hat die Finanzergebnisse für das 4. Quartal 2024 veröffentlicht, mit bemerkenswerten Verbesserungen in der Rentabilität. Der Bruttogewinn des Unternehmens stieg im Quartalsvergleich um 23,1%, während die Bruttomarge um 350 Basispunkte anstieg. Die Einnahmen im 4. Quartal betrugen 33,4 Millionen Dollar, und der Gewinn pro Aktie verbesserte sich auf 0,01 Dollar, nachdem im Vorjahr ein Verlust von 0,05 Dollar verzeichnet wurde.

Sypris Technologies verzeichnete einen Anstieg des Bruttogewinns um 41,6% im 4. Quartal, was auf günstige Wechselkurse und Produktivitätsverbesserungen zurückzuführen ist. Die Bestellungen für Energieprodukte stiegen im laufenden Jahr um 8,6%. Die Elektronikabteilung des Unternehmens hat einen starken Auftragsbestand von über 90 Millionen Dollar.

Für die Prognose 2025 rechnet Sypris mit Einnahmen zwischen 125 und 135 Millionen Dollar, einer Erweiterung der Bruttomarge um 150-175 Basispunkte und erwartet ein Wachstum des Bruttogewinns von 10-15%. Der Ausblick berücksichtigt die Umstellung bestimmter Lieferungen von mexikanischen Anlagen auf eine wertschöpfende Sub-Maquiladora-Basis.

Positive
  • Q4 gross profit increased 23.1% with 350 basis points margin expansion
  • Sypris Technologies' gross profit surged 41.6% in Q4
  • Energy product orders up 8.6% year-to-date
  • Strong electronics backlog exceeding $90 million
  • Positive 2025 guidance with 10-15% expected gross profit growth
Negative
  • Q4 revenue declined to $33.4M from $34.7M year-over-year
  • Full-year 2024 net loss increased to $1.7M from $1.6M in 2023
  • Sypris Electronics revenue dropped to $13.9M from $15.7M due to material delays
  • Expected cyclical decline in commercial vehicle market
  • Anticipated revenue decline in 2025 due to Mexican facility conversion

Insights

Sypris Solutions' Q4 results demonstrate operational improvements despite mixed overall performance. The 23.1% year-over-year increase in gross profit for Q4 and 350 basis point margin expansion highlight successful efficiency initiatives. Most notably, the company returned to profitability with $0.01 EPS compared to a $0.05 loss in the year-ago quarter.

The performance dichotomy between segments is significant. Sypris Technologies emerged as the standout performer with 41.6% gross profit growth for Q4 and 39.3% for the full year, benefiting from favorable exchange rates and improved product mix. Meanwhile, Sypris Electronics faced headwinds from material delays and supplier quality issues, resulting in reduced revenue and compressed margins.

Looking at the 2025 guidance, there's an interesting dynamic at play. The projected revenue of $125-$135 million represents a potential decline from 2024's $140.2 million, partially attributable to the conversion of certain Mexican shipments to a sub-maquiladora basis. However, management expects 150-175 basis point margin expansion and 10-15% gross profit growth, suggesting continued operational improvements will offset revenue challenges.

The $90+ million backlog in Sypris Electronics provides strong visibility through 2025, while secured customer funding mitigates supply chain risks. This foundation, combined with diversification efforts in Sypris Technologies to counterbalance the cyclical commercial vehicle market decline, positions the company for potential profitability improvement despite top-line challenges.

Gross Profit Up 23%; EPS Continues To Rise; Positive 2025 Outlook

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Solutions, Inc. (Nasdaq/GM: SYPR) today reported financial results for its fourth quarter and full-year ended December 31, 2024.

HIGHLIGHTS

 

  • The Company’s gross profit for the quarter increased 23.1% from the prior-year period, while gross margin expanded 350 basis points.
  • For the full year, the Company’s gross profit increased 15.3% from the prior year, while gross margin increased 150 basis points.
  • Gross profit for Sypris Technologies surged 41.6% for the quarter and 39.3% for the full year, reflecting favorable exchange rates, improved mix and productivity improvements. Orders for energy products were up 8.6% year-to-date.
  • EPS for the quarter increased $0.06 to $0.01 per diluted share, up from a loss of $0.05 per diluted share for the prior-year period.
  • The Company announced its financial guidance for 2025, projecting revenue between $125-$135 million, gross margin expansion in the range of 150 to 175 basis points, and a forecast of 10-15% increase in gross profit. The revenue outlook partly reflects the conversion of certain shipments from our facility in Mexico to a value-add only sub-maquiladora basis.

 

“We are pleased with the year-over-year revenue growth at Sypris Technologies, driven by an increase in sales of our energy products during the period,” commented Jeffrey T. Gill, President and Chief Executive Officer. “Orders for our energy products increased during the year, and additional opportunities for growth may exist with new global projects in support of increasing LNG demand including support for the steep increase in electricity demand from data centers to support AI. We are also actively pursuing applications for our products in adjacent markets including CO2 capture to further diversify our industry and customer portfolios.

“Demand from Sypris Technologies customers serving the automotive, commercial vehicle, sport utility and off-highway markets has remained relatively stable, with new product line shipments helping to offset the anticipated cyclical decline for the commercial vehicle market. We believe that the market diversification Sypris Technologies has accomplished over recent years by adding new programs in the automotive, sport-utility and off-highway markets will help offset some of this decline.

“The backlog at Sypris Electronics exceeds $90 million and is expected to support growth through 2025 and beyond. Customer funding has already been secured for a significant portion of these key programs, which enables us to procure inventory under multi-year purchase orders to mitigate future supply chain issues.”

Fourth Quarter and Full-Year Results

The Company reported revenue of $33.4 million for the fourth quarter ended December 31, 2024, compared to $34.7 million for the prior-year comparable period. The Company reported net income of $0.1 million, or $0.01 per diluted share, compared to a net loss of $1.1 million, or $0.05 per diluted share, for the prior-year period.

For the full-year 2024, the Company reported revenue of $140.2 million compared with $136.2 million for the prior year. The Company reported a net loss of $1.7 million, or $0.08 per share, for 2024 compared with a net loss of $1.6 million, or $0.07 per diluted share, for the prior year.

Sypris Technologies

Revenue for Sypris Technologies was $19.5 million in the fourth quarter of 2024 compared to $19.0 million for the prior-year period, reflecting strong energy shipments during the period, partially offset by the anticipated cyclical decline in the commercial vehicle market. Gross profit for the fourth quarter of 2024 was $4.4 million, or 22.5% of revenue, compared to $3.1 million, or 16.3% of revenue, for the same period in 2023. Gross profit for the fourth quarter of 2024 benefited from a favorable mix and favorable exchange rates.

Sypris Electronics

Revenue for Sypris Electronics was $13.9 million in the fourth quarter of 2024 compared to $15.7 million for the prior-year period. Material delays and supplier quality issues caused a temporary delay in shipments for the period. Gross profit for the fourth quarter of 2024 was $1.0 million, or 7.1% of revenue, compared to $1.3 million, or 8.1% of revenue, for the same period in 2023 primarily due to the lower revenue, an unfavorable mix and additional labor and overhead costs incurred on programs that recently ramped production.

Outlook

Commenting on the future, Mr. Gill added, “Demand from customers serving the markets for electronic warfare, aircraft and missile avionics, secure and subsea communications, and ground-based radar remain robust, while the outlook for the energy market continues to move in the right direction. Similarly, demand from customers serving the automotive, commercial vehicle and sport utility markets remains healthy despite the anticipated cyclical decline in the commercial vehicle market.

“With a strong backlog, new program wins, and continued long-standing contractual relationships in place, we are confident 2025 has the potential to be very positive for Sypris. While we anticipate a modest decline in revenue reported resulting from the conversion of certain shipments from Mexico to the U.S. into a sub-maquiladora, and the cyclical decrease in production volumes in the commercial vehicle market, we expect the combined strength of our backlog for Sypris Electronics and increasing orders for our energy products to largely serve as an offset. Additionally, we expect to achieve gross margin expansion in the range of 150 to 175 basis points, with gross profit expected to grow 10-15% in 2025.”

About Sypris Solutions

Sypris Solutions is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

Forward Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the fees, costs and supply of, or access to, debt, equity capital, or other sources of liquidity; our failure to achieve and maintain profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources or require us to sell assets to fund operating losses; volatility of our customers’ forecasts and our contractual obligations to meet current scheduling demands and production levels, which may negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; cost, quality and availability or lead times of raw materials such as steel, component parts (especially electronic components), natural gas or utilities including increased cost relating to inflation, as well as the impact of proposed or imposed tariffs by the U.S. government on imports to the U.S. and/or the imposition of retaliatory tariffs by foreign countries; the termination or non-renewal of existing contracts by customers; dependence on, retention or recruitment of key employees and highly skilled personnel and distribution of our human capital; risks of foreign operations, including foreign currency exchange rate risk exposure, which could impact our operating results; our reliance on a few key customers, third party vendors and sub-suppliers; significant delays or reductions due to a prolonged continuing resolution or U.S. government shutdown reducing the spending on products and services that Sypris Electronics provides; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of inflation, tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; the costs and supply of insurance on acceptable terms and with adequate coverage; unanticipated or uninsured product liability claims, disasters, public health crises, losses or business risks; breakdowns, relocations or major repairs of machinery and equipment, especially in our Toluca Plant; the costs of compliance with our auditing, regulatory or contractual obligations; pension valuation, health care or other benefit costs; our reliance on revenues from customers in the oil and gas and automotive markets, with increasing consumer pressure for reductions in environmental impacts attributed to greenhouse gas emissions and increased vehicle fuel economy; our failure to successfully win new business or develop new or improved products or new markets for our products; war, geopolitical conflict, terrorism, or political uncertainty, or disruptions resulting from the Russia-Ukraine war or the Israel and Gaza conflict, including arising out of international sanctions, foreign currency fluctuations and other economic impacts; labor relations; strikes; union negotiations; disputes or litigation involving governmental, supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; failure to adequately insure or to identify product liability, environmental or other insurable risks; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property rights from potential competitors or fully exploit such rights which could materially affect our ability to compete in our chosen markets; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; cyber security threats and disruptions, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which may become more pronounced in the event of geopolitical conflicts and other uncertainties, such as the conflict in Ukraine; our ability to maintain compliance with the Nasdaq listing standards minimum closing bid price; risks related to owning our common stock, including increased volatility; possible public policy response to a public health emergency, including U.S. or foreign government legislation or restrictions that may impact our operations or supply chain; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

 

SYPRIS SOLUTIONS, INC.

Financial Highlights

(In thousands, except per share amounts)

 

 

 

 

 

 

 

Three Months Ended

 

 

December 31,

 

 

 

2024

 

 

 

2023

 

 

 

(Unaudited)

Revenue

$

33,449

 

$

34,735

 

Net income (loss)

$

135

 

$

(1,079

)

Income (loss) per common share:
Basic

$

0.01

 

$

(0.05

)

Diluted

$

0.01

 

$

(0.05

)

Weighted average shares outstanding:
Basic

 

22,137

 

 

21,938

 

Diluted

 

22,390

 

 

21,938

 

 
 
 
 

Year Ended

December 31,

 

2024

 

 

 

2023

 

(Unaudited)

Revenue

$

140,180

 

$

136,223

 

Net loss

$

(1,680

)

$

(1,596

)

Loss per common share:
Basic

$

(0.08

)

$

(0.07

)

Diluted

$

(0.08

)

$

(0.07

)

Weighted average shares outstanding:
Basic

 

22,043

 

 

21,876

 

Diluted

 

22,043

 

 

21,876

 

Sypris Solutions, Inc.
Consolidated Statements of Operations
(in thousands, except for per share data)
 

Three Months Ended

 

Year Ended

December 31,

 

December 31,

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

(Unaudited)

 

(Unaudited)

Net revenue:
Sypris Technologies

$

19,547

$

19,025

 

$

75,207

 

$

77,920

 

Sypris Electronics

 

13,902

 

 

15,710

 

 

64,973

 

 

58,303

 

Total net revenue

 

33,449

 

 

34,735

 

 

140,180

 

 

136,223

 

Cost of sales:
Sypris Technologies

 

15,154

 

 

15,922

 

 

62,383

 

 

68,712

 

Sypris Electronics

 

12,909

 

 

14,436

 

 

57,907

 

 

50,263

 

Total cost of sales

 

28,063

 

 

30,358

 

 

120,290

 

 

118,975

 

Gross profit:
Sypris Technologies

 

4,393

 

 

3,103

 

 

12,824

 

 

9,208

 

Sypris Electronics

 

993

 

 

1,274

 

 

7,066

 

 

8,040

 

Total gross profit

 

5,386

 

 

4,377

 

 

19,890

 

 

17,248

 

Selling, general and administrative

 

4,087

 

 

4,660

 

 

16,963

 

 

16,279

 

Operating income (loss)

 

1,299

 

 

(283

)

 

2,927

 

 

969

 

Interest expense, net

 

216

 

 

246

 

 

1,684

 

 

777

 

Other expense, net

 

436

 

 

342

 

 

1,217

 

 

1,125

 

Income (loss) before taxes

 

647

 

 

(871

)

 

26

 

 

(933

)

Income tax expense, net

 

512

 

 

208

 

 

1,706

 

 

663

 

Net income (loss)

$

135

 

$

(1,079

)

$

(1,680

)

$

(1,596

)

Income (loss) per common share:
Basic

$

0.01

 

$

(0.05

)

$

(0.08

)

$

(0.07

)

Diluted

$

0.01

 

$

(0.05

)

$

(0.08

)

$

(0.07

)

Dividends declared per common share

$

-

 

$

-

 

$

-

 

$

-

 

Weighted average shares outstanding:
Basic

 

22,137

 

 

21,938

 

 

22,043

 

 

21,876

 

Diluted

 

22,390

 

 

21,938

 

 

22,043

 

 

21,876

 

Sypris Solutions, Inc.

Consolidated Balance Sheets

(in thousands, except for share data)

 

 

 

 

 

 

 

December 31,

 

 

 

2024

 

 

 

2023

 

 

 

(Unaudited)

 

(Note)

ASSETS

Current assets:
Cash and cash equivalents

$

9,675

 

$

7,881

 

Accounts receivable, net

 

10,593

 

 

8,929

 

Inventory, net

 

66,680

 

 

77,314

 

Other current assets

 

11,070

 

 

9,743

 

Total current assets

 

98,018

 

 

103,867

 

Property, plant and equipment, net

 

13,299

 

 

17,133

 

Operating lease right-of-use assets

 

3,749

 

 

3,309

 

Other assets

 

4,310

 

 

5,033

 

Total assets

$

119,376

 

$

129,342

 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Accounts payable

$

18,428

 

$

26,737

 

Accrued liabilities

 

57,639

 

 

56,232

 

Operating lease liabilities, current portion

 

906

 

 

1,068

 

Finance lease obligations, current portion

 

1,507

 

 

1,327

 

Equipment financing obligations, current portion

 

481

 

 

618

 

Working capital line of credit

 

500

 

 

500

 

Total current liabilities

 

79,461

 

 

86,482

 

 
Operating lease liabilities, net of current portion

 

3,251

 

 

2,642

 

Finance lease obligations, net of current portion

 

735

 

 

1,852

 

Equipment financing obligations, net of current portion

 

852

 

 

1,333

 

Note payable - related party, net of current portion

 

8,986

 

 

6,484

 

Other liabilities

 

6,510

 

 

8,082

 

Total liabilities

 

99,795

 

 

106,875

 

Stockholders’ equity:
Preferred stock, par value $0.01 per share, 975,150 shares authorized; no shares issued

 

-

 

 

-

 

Series A preferred stock, par value $0.01 per share, 24,850 shares authorized; no shares issued

 

-

 

 

-

 

Common stock, non-voting, par value $0.01 per share, 10,000,000 shares authorized; no shares issued

 

-

 

 

-

 

Common stock, par value $0.01 per share, 30,000,000 shares authorized; 23,041,523 shares issued and 23,020,010 outstanding in 2024 and 22,465,484 shares issued and 22,459,649 outstanding in 2023

 

230

 

 

224

 

Additional paid-in capital

 

156,980

 

 

156,242

 

Accumulated deficit

 

(118,612

)

 

(116,932

)

Accumulated other comprehensive loss

 

(19,017

)

 

(17,067

)

Treasury stock, 21,513 in 2024 and 5,835 in 2023

 

-

 

 

-

 

Total stockholders’ equity

 

19,581

 

 

22,467

 

Total liabilities and stockholders’ equity

$

119,376

 

$

129,342

 

 

Note: The balance sheet at December 31, 2023, has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements.

Sypris Solutions, Inc.
Consolidated Cash Flow Statements
(in thousands)
 

Year Ended

December 31,

 

2024

 

 

 

2023

 

(Unaudited)

Cash flows from operating activities:
Net loss

$

(1,680

)

$

(1,596

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization

 

3,181

 

 

3,259

 

Deferred income taxes

 

232

 

 

54

 

Stock-based compensation expense

 

868

 

 

813

 

Deferred loan costs amortized

 

8

 

 

3

 

Provision for excess and obsolete inventory

 

593

 

 

(167

)

Non-cash lease expense

 

1,160

 

 

942

 

Other noncash items

 

414

 

 

(56

)

Contributions to pension plans

 

(712

)

 

(16

)

Changes in operating assets and liabilities:
Accounts receivable

 

(1,826

)

 

(1,096

)

Inventory

 

9,129

 

 

(34,693

)

Prepaid expenses and other assets

 

(1,934

)

 

(1,105

)

Accounts payable

 

(8,163

)

 

8,984

 

Accrued and other liabilities

 

734

 

 

13,585

 

Net cash provided by (used in) operating activities

 

2,004

 

 

(11,089

)

Cash flows from investing activities:
Capital expenditures

 

(1,083

)

 

(2,139

)

Proceeds from sale of assets

 

24

 

 

-

 

Net cash used in investing activities

 

(1,059

)

 

(2,139

)

Cash flows from financing activities:
Proceeds from equipment financing obligations

 

430

 

 

710

 

Proceeds from working capital line of credit

 

-

 

 

500

 

Proceeds from Note Payable - related party

 

2,500

 

 

2,500

 

Principal payments on finance lease obligations

 

(1,366

)

 

(1,168

)

Principal payments on equipment financing obligations

 

(618

)

 

(551

)

Principal payments on Note Payable - related party

 

-

 

 

(2,500

)

Indirect repurchase of shares for minimum statutory tax withholdings

 

(126

)

 

(105

)

Net cash provided by (used in) financing activities

 

820

 

 

(614

)

Effect of exchange rate changes on cash balances

 

29

 

 

75

 

Net increase (decrease) in cash and cash equivalents

 

1,794

 

 

(13,767

)

Cash and cash equivalents at beginning of period

 

7,881

 

 

21,648

 

Cash and cash equivalents at end of period

$

9,675

 

$

7,881

 

 

For more information, contact:

Rebecca R. Eckert

Chief Accounting Officer

(502) 329-2000

Source: Sypris Solutions, Inc.

FAQ

What were Sypris Solutions (SYPR) Q4 2024 earnings per share?

SYPR reported Q4 2024 earnings of $0.01 per diluted share, improving from a loss of $0.05 per share in Q4 2023.

What is Sypris Solutions' (SYPR) revenue guidance for 2025?

SYPR projects 2025 revenue between $125-$135 million with expected gross profit growth of 10-15%.

How much did Sypris Technologies' gross profit increase in Q4 2024?

Sypris Technologies' gross profit surged 41.6% in Q4 2024, with margin expanding to 22.5% from 16.3% year-over-year.

What is the current backlog value for Sypris Electronics?

Sypris Electronics' backlog exceeds $90 million and is expected to support growth through 2025 and beyond.

How much did energy product orders grow for SYPR in 2024?

Orders for energy products increased 8.6% year-to-date in 2024.
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37.07M
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Auto Parts
Industrial Instruments for Measurement, Display, and Control
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United States
LOUISVILLE