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Last $2.38 USD
Change Today -0.03 / -1.24%
Volume 6.2K
SYPR On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

sypris solutions inc (SYPR) Snapshot

Open
$2.40
Previous Close
$2.41
Day High
$2.41
Day Low
$2.35
52 Week High
06/6/14 - $6.50
52 Week Low
02/19/15 - $2.22
Market Cap
48.8M
Average Volume 10 Days
13.2K
EPS TTM
$0.02
Shares Outstanding
20.5M
EX-Date
12/17/14
P/E TM
128.2x
Dividend
$0.08
Dividend Yield
3.36%
Current Stock Chart for SYPRIS SOLUTIONS INC (SYPR)

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sypris solutions inc (SYPR) Details

Sypris Solutions, Inc. provides outsourced services and specialty products primarily in the United States, Mexico, Denmark, and the United Kingdom. It offers 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, including axle shafts, differential cases, gear sets, and full float tubes, as well as steer axle components for use in light, medium, and heavy-duty trucks; axle shafts and drive train components for medium and heavy-duty trucks; axle beams for trailers; transmission shafts for heavy-duty trucks; and specialty closures for oil and gas pipelines. Its Electronics Group segment provides solutions in cyber security, secure communications, electronic key management, Sypris Data Systems branded products, and product design and development to the U.S. government, defense and civilian agencies, international government agencies, and aerospace and defense prime organizations. This segment designs and builds information assurance products, including link encryptors, data recording products, and electronic key fill devices. It also provides circuit card and full box build manufacturing, dedicated space and high reliability manufacturing, integrated design and engineering services, systems assembly and integration, design for manufacturability, and design to specification work to aerospace and defense companies. The company also provides specialized products, including digital and analog data systems, and encryption devices used in military applications and specialty closures, and joints used in pipeline and chemical systems. Sypris Solutions, Inc. was founded in 1954 and is headquartered in Louisville, Kentucky.

1,181 Employees
Last Reported Date: 03/11/14
Founded in 1954

sypris solutions inc (SYPR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $658.2K
Vice President and President of Sypris Electr...
Total Annual Compensation: $357.7K
Vice President and President of Sypris Techno...
Total Annual Compensation: $336.0K
Compensation as of Fiscal Year 2013.

sypris solutions inc (SYPR) Key Developments

Sypris Solutions, Inc. and Certain of its Subsidiaries Enter into an Amendment Revolving Credit and Security Agreement

On March 12, 2015, Sypris Solutions Inc. and certain of its subsidiaries and PNC Bank, National Association entered into an amendment to the company's Revolving Credit and Security Agreement, dated May 12, 2011. The Lender, as the agent and lender under the Loan Agreement, agreed to, among other things, waive certain existing or potential events of default under the Loan Agreement, amend the interest rate applicable to borrowings under the Loan Agreement, amend the financial covenants applicable to the company, amend the term of the Loan Agreement, and provide for certain additional covenants of the company. In addition, pursuant to the Second Amendment, the Loan Agreement will mature on January 15, 2016 (instead of May 12, 2016). As a result of the Second Amendment, borrowings under the Loan Agreement will bear interest at an initial rate estimated at approximately 6% and increasing to an estimated rate of approximately 10% by the maturity date. Specifically, borrowing will accrue at a base rate, which is equal to the higher of (i) the Lender's base rate, (ii) the Federal Funds Open Rate plus 1/2 of 1% and (iii) the Daily LIBOR Rate plus 1%, plus an applicable margin of 2.75%, which shall increase (x) on June 1, 2015 to 3.25% and (y) on the first day of each month thereafter, to a percentage which is 0.50% greater than the applicable margin for the immediately preceding month. In connection with the Second Amendment, the company has agreed to raise new capital through (i) new subordinated indebtedness of the company, (ii) the sale of all or a portion of the company's property in Toluca, Mexico, or (iii) a combination thereof, in each case, in a minimum amount agreed to by the company and the Lender. The Second Amendment also provides that the company will maintain undrawn availability under the Loan Agreement of (a) at least $1,000,000 until June 1, 2015 or any earlier receipt of the Second Amendment Proceeds, and (b) at least $5,000,000 after receipt of the Second Amendment Proceeds or September 30, 2015, if earlier. In addition, pursuant to the terms of the Second Amendment, beginning with the month ending April 30, 2014, the company must maintain certain minimum Free Cash Flow as of the end of each month and for periods specified in the Second Amendment in varying amounts, ranging from a permitted maximum cumulative Free Cash Flow usage of $6,860,000 as of July 31, 2015 for the five month period then ending to a cumulative Free Cash Flow usage of $1,567,000 or less as of November 30, 2015 for the nine month period then ending. The Second Amendment prohibits the company from creating, incurring or assuming any indebtedness other than (i) indebtedness to the Lender; (ii) indebtedness not in excess of $5,000,000 outstanding at any time incurred for capital expenditures; (iii) certain guarantees set forth in the Loan Agreement; (iv) indebtedness included with the purchase price for permitted acquisitions; (v) the loan related to the company's operations in Mexico; and (vi) subordinated indebtedness. In addition, pursuant to the Second Amendment, the company is prohibited, without the Lender's consent, from entering into certain transactions with its affiliates.

Sypris Solutions Inc. Announces Amendment to its Revolving Credit Facility with PNC Bank

Sypris Solutions Inc. announced that in connection with the company's consideration of various alternatives for extending and expanding its capital financing arrangements, the company has amended its revolving credit facility with PNC Bank, National Association. Effective as of February 10, 2015, the company and the Bank signed a Joinder and amendment no. 1 to loan documents, together with the company's domestic subsidiaries (Sypris Technologies Inc., Sypris Technologies Kenton Inc., Sypris Technologies Marion, LLC, Sypris Technologies Mexican Holdings, LLC, Sypris Data Systems Inc. and Sypris Electronics, LLC, including the joinder of several more recently formed subsidiaries, Sypris Technologies Northern Inc., Sypris Technologies Southern Inc. and Sypris Technologies International Inc.). Among other things, the loan amendment formalizes the company's prior commitment to obtain the consent of the bank before making dividend payments when, as currently, excess borrowing availability is below certain levels and/or to limit certain funds-transfers outside of the United States.

Sypris Solutions Inc. Appoints Anthony C. Allen as Vice President and Chief Financial Officer

On January 7, 2015, Sypris Solutions Inc. announced that the Board of Directors authorized the appointment of Anthony C. Allen as Vice President and Chief Financial Officer of the company. Effective as of January 1, 2015, Mr. Allen will assume responsibility for the company's finance and accounting operations, treasury and banking relationships, communications with the Board of Directors regarding financial matters, investor and securities analyst relations, capital markets strategy formulation and implementation, information systems, and the overall control environment for the Company. Mr. Allen will also serve as the company's principal financial officer. Since December 2004 Mr. Allen has served as Vice President, Treasurer, and Assistant Secretary for the company and as Vice President of Finance and Information Systems and Assistant Secretary from 2003 to December 2004. Mr. Allen served as Vice President, Controller and Assistant Secretary for the company from 1997 to 2003. He served as Vice President of Finance of the company's predecessor from 1994 to 1998 and as Vice President and Controller from 1987 to 1994. Prior to 1987, Mr. Allen served in a variety of management positions with Armor Elevator.

 

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Industry Analysis

SYPR

Industry Average

Valuation SYPR Industry Range
Price/Earnings 53.7x
Price/Sales 0.1x
Price/Book 0.8x
Price/Cash Flow 52.8x
TEV/Sales 0.0x
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