Close

Sypris Awarded $4.1 Million Order for Key Fill Modules

April 26, 2016 1:02 PM EDT

Electronics Business Posts $28.5 Million of Orders in First Quarter

TAMPA, Fla.--(BUSINESS WIRE)-- Sypris Electronics LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), and a leading provider of high assurance security solutions, announced today it has received a $4.1 million delivery order on a prime indefinite delivery/indefinite quantity contract for the delivery of several thousand key fill modules. The key fill module is the crypto engine for Tier 3 key management devices and is used to support the key loading of well over 100 different End Cryptographic Unit types.

Commenting on the award and the Company’s record orders for the first quarter of 2016, John Walsh, President of Sypris Electronics said, “During the first quarter of 2016, we saw significant year-over-year improvement, with orders increasing to $28.5 million during the quarter from $4.6 million for the prior year period. We are pleased to note that the strength in orders was across the board, including demand for our legacy products, trusted manufacturing, engineering services, and new products, such as the Sypris Cyber Range.”

Sypris is a global, integrated security solutions provider serving the Government and Commercial sectors. Sypris is well known for leadership in cryptography, key management, identity authentication and access management, cyber security operations, and associated professional services. Sypris promotes an agile, innovative culture and state-of-the-art solution sets by strategically partnering with leading-edge technology companies, agencies and universities. With 50 years of experience, Sypris is proud to develop, manufacture and integrate leading technologies that secure our global partners’ interests. For more information, please visit www.sypriselectronics.com.

This press release contains forward-looking statements within the meaning of federal securities laws. Actual results could differ materially from those projected in such forward-looking statements as a result of certain risk factors, including but not limited to the following: orders received may be cancelled or delayed by our customers; even if we have the contractual right to manufacture and ship such orders, we must balance such rights against our longer term customer relationships; and those risk factors set forth in the Annual Report on Form 10-K, dated and filed March 30, 2016, with the Securities and Exchange Commission (SEC) by our parent company, Sypris Solutions, Inc. and other filings that Sypris makes with the SEC from time to time.

Sypris Electronics LLC
Larry Bernicky, 813-972-6040
Vice President of Finance

Source: Sypris Electronics LLC



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Press Releases