Sypris Reports Second Quarter Results
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Sypris Solutions (SYPR) Tops Q2 EPS by 6c; Offers FY19 Revenue Guidance
August 14, 2019 7:49 AM EDTSypris Solutions (NASDAQ: SYPR) reported Q2 EPS of $0.07, $0.06 better than the analyst estimate of $0.01. Revenue for the quarter came in at $24.4 million versus the consensus estimate of $25 million.
The Companys second quarter 2019 consolidated revenue increased 6.4% to $24.4 million compared with the prior-year quarter and increased 24.9% sequentially.The Companys gross margin increased 350 basis points to 16.3% for the second quarter of 2018 and up from 4.4% in the first quarter of 2019. Gross profit increased 36.0% to $4.0 million, up from $2.9 million from the prior-year.The Companys EPS increased 75% to $0.07 per share, up from $0.04 per share for the... More