Sypris Solutions (SYPR) Reports Q3 Loss of $0.15/Share

Sypris Solutions (NASDAQ: SYPR) reported Q3 EPS of ($0.15), versus $1.02 reported last year. Revenue for the quarter came in at $21.4 million, versus $21.4 million reported last year.

Outlook

Commenting on the future, Mr. Gill added, “The combination of significant cost savings, improved revenue mix and the elimination of high-cost commercial debt, among other items, is expected to have a positive, material impact on the Company’s financial performance going forward. The fourth quarter of 2017 and the full fiscal year 2018 approaching are expected to benefit from significantly lower fixed overhead and production costs at Sypris Technologies, as well as from the elimination of severance and other expenses.

“Our outlook for revenue for 2018 is in the range of $86.0-$92.0 million and we expect to see further meaningful improvements in gross margin to 15%-17%, while SG&A as a percent of revenue and EBITDA in 2018 are also expected to improve, as the Company’s financial statements reflect the full-year impact of the 2017 cost saving initiatives.”

For earnings history and earnings-related data on Sypris Solutions (SYPR) click here.

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