Sypris Reports First Quarter Results
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Sypris Solutions (SYPR) Tops Q1 EPS by 3c, Revenues Beat
May 20, 2020 7:47 AM EDTSypris Solutions (NASDAQ: SYPR) reported Q1 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $22.43 million versus the consensus estimate of $20.7 million.
HIGHLIGHTS
The Companys first quarter revenue increased 14.6% compared to the prior-year quarter and increased 3.7% sequentially as shipments from new programs increased for both segments of the business.The Companys gross margin increased to 16.0% of revenue, up from 4.4% in the first quarter of 2019 and up 350 basis points sequentially.The Companys operating income was positive for the quarter, driven... More