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May 22, 2015 11:05 PM ET

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Company Overview of Sypris Solutions Inc.

Company Overview

Sypris Solutions, Inc. offers outsourced services and specialty products in the United States, Mexico, Denmark, and the United Kingdom. It provides manufacturing, engineering, design, and other technical services under contracts with corporations and government agencies in the industrial manufacturing, and aerospace and defense electronics markets. The company’s Industrial Group segment supplies forged and machined components for the commercial vehicle, off highway vehicle, light truck, and energy markets. This segment produces drive train components, such as axle shafts, gear sets, differential cases, steer axle forgings, and other components for truck manufacturers; axle shafts and drive t...

One Oxmoor Place

101 Bullitt Lane

Suite 450

Louisville, KY 40222

United States

Founded in 1954

1,332 Employees

Phone:

502-329-2000

Key Executives for Sypris Solutions Inc.

Chief Executive Officer, President and Director
Age: 58
Total Annual Compensation: $672.5K
Vice President and President of Sypris Technologies
Age: 59
Total Annual Compensation: $414.6K
Vice President and President of Sypris Electronics LLC
Age: 55
Total Annual Compensation: $357.7K
Vice President, General Counsel and Secretary
Age: 57
Total Annual Compensation: $374.4K
Compensation as of Fiscal Year 2014.

Sypris Solutions Inc. Key Developments

Sypris Solutions Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015

Sypris Solutions Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $37,009,000 compared with $84,244,000 for the same period a year ago. Operating loss was $12,893,000 compared with operating income of $2,421,000 for the same period a year ago. Loss before taxes was $13,048,000 against income of $2,817,000 a year ago. Net loss was $13,033,000 or $0.66 per diluted share compared with net income of $1,652,000 or $0.08 per diluted share for the same period a year ago. Net cash used in operating activities was $5,315,000 compared with net cash provided from operating activities of $2,499,000 for the same period a year ago. Capital expenditures were $295,000 compared with $559,000 for the same period a year ago. The decline in revenue resulted in a loss at the gross profit line of $3.2 million for the first quarter of 2015. Negative EBITDA for the quarter of $10.5 million compared to $5.7 million in the prior year. Net debt increased to $16.5 million at the end of first quarter, which represented 33% of total capital. For the second quarter, the company expects significant sequential improvement in this metric during the second quarter when are passed toward achieving positive EBITDA, again in the second half of 2015. The company expects 15% to 30% sequential increase in revenue from first quarter to second quarter, which would result in second quarter revenue in the range of $42 million to $48 million. The company anticipates both segments will contribute to this growth with a strong commercial vehicle market and a ramp of new programs driving the top line growth for Sypris Technologies.

Sypris Solutions Inc. to Report Q1, 2015 Results on May 14, 2015

Sypris Solutions Inc. announced that they will report Q1, 2015 results at 9:00 AM, US Eastern Standard Time on May 14, 2015

Sypris Solutions Inc., Q1 2015 Earnings Call, May 14, 2015

Sypris Solutions Inc., Q1 2015 Earnings Call, May 14, 2015

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