Sypris Solutions (SYPR) Reports Q2 Loss of $0.03/sh

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Sypris Reports Second Quarter Results

August 16, 2022 7:45 AM EDT

Revenue Up 12%; Backlog Up 77% On Multiple Contract Awards

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Solutions, Inc. (Nasdaq/GM: SYPR) today reported financial results for its second quarter ended July 3, 2022.

HIGHLIGHTS

Revenue for the quarter increased 11.8% year-over-year, driven by a 25.6% increase for Sypris Electronics and a 4.7% increase for Sypris Technologies. Orders increased 360% on a year-over-year basis and 169% sequentially driven by a 524% and 240% increase at Sypris Electronics, respectively. Backlog increased 77% driven by Sypris Electronics, which increased 84.1% year-over-year and... More