v3.25.2
Note 11 - Segment Data
 6 Months Ended
Jun. 29, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(11)

Segment Data

 

The Company is organized into two business segments, Sypris Technologies and Sypris Electronics. Our Chief Executive Officer (CEO) serves as our Chief Operating Decision Maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM evaluates each segment’s performance based on metrics such as net revenue, gross profit, operating income and other key financial indicators, guiding strategic decisions to align with company-wide goals. On a monthly basis, the CODM considers budget-to-actual variances for gross profit and operating income when making decisions about allocating capital to the segments. The segments are each managed separately because of the distinctions between the products, markets, customers, technologies, and workforce skills of the segments. Sypris Technologies generates revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics provides circuit card and box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work to customers in the market for aerospace and defense, communications and space electronics. There was no intersegment net revenue recognized for any year presented.

 

The Company includes the unallocated costs of its corporate office, including the employment costs of its senior management team and other corporate personnel, administrative costs and net corporate interest expense incurred at the corporate level under the caption “General, corporate and other” in the table below. Such unallocated costs include those for centralized information technology, finance, legal and human resources support teams, certain professional fees, director fees, corporate office rent, certain self-insurance costs and recoveries, software license fees and various other administrative expenses that are not allocated to our reportable segments. The unallocated assets include cash and cash equivalents maintained in its domestic treasury accounts and the net book value of corporate facilities and related information systems. The unallocated liabilities consist primarily of the related party notes payable. Domestic income taxes are calculated at an entity level and are not allocated to our reportable segments. Corporate capital expenditures and depreciation and amortization include items attributable to the unallocated fixed assets of the corporate office and related information systems.

 

The following table presents financial information for the reportable segments of the Company (in thousands):

 

   

Three Months Ended

    

Six Months Ended

  
   

June 29,

    

June 30,

    

June 29,

    

June 30,

  
   

2025

    

2024

    

2025

    

2024

  
   

(Unaudited)

    

(Unaudited)

  

Net revenue from unaffiliated customers:

                                

Sypris Technologies

   $ 14,097     $ 17,841     $ 27,670     $ 36,191  

Sypris Electronics

     17,329       17,680       33,264       34,883  
Total net revenue   $ 31,426     $ 35,521     $ 60,934     $ 71,074  
                                 

Gross profit:

                                

Sypris Technologies

   $ 2,143     $ 2,719     $ 4,250     $ 4,770  

Sypris Electronics

     441       2,922       1,700       3,755  
Total gross profit   $ 2,584     $ 5,641     $ 5,950     $ 8,525  
                                 

Operating income (loss):

                                

Sypris Technologies

   $ 490     $ 1,389     $ 1,216     $ 1,895  

Sypris Electronics

     (652 )     1,665       (467 )     1,102  

General, corporate and other

     (1,279 )     (1,781 )     (2,320 )     (3,098 )
Total operating income (loss)   $ (1,441 )   $ 1,273     $ (1,571 )   $ (101 )
                                 
Interest expense, net:                                
Sypris Technologies   $ 45     $ 63     $ 94     $ 128  
Sypris Electronics     49       333       91       398  
General, corporate and other     287       208       498       396  
Total interest expense   $ 381     $ 604     $ 683     $ 922  
                                 
Other expense (income), net:                                
Sypris Technologies   $ 224     $ 200     $ 406     $ 589  
Sypris Electronics     0       (8 )     (8 )     (8 )
General, corporate and other     0       0       (6 )     (6 )
Total other expense, net   $ 224     $ 194     $ 389     $ 535  

 

 

    Three Months Ended     Six Months Ended  
    June 29,     June 30,     June 29,     June 30,  
    2025     2024     2025     2024  
    (Unaudited)     (Unaudited)  

Income (loss) before taxes:

                                

Sypris Technologies

   $ 309     $ 1,188     $ 888     $ 1,338  

Sypris Electronics

     (702 )     1,339       (551 )     711  

General, corporate and other

     (1,653 )     (2,052 )     (2,980 )     (3,607 )
    $ (2,046 )   $ 475     $ (2,643 )   $ (1,558 )
                                 
Depreciation and amortization:                                
Sypris Technologies   $ 471     $ 606     $ 927     $ 1,224  
Sypris Electronics     236       225       479       450  
General, corporate and other     0       0       1       2  
Total depreciation and amortization   $ 708     $ 831     $ 1,407     $ 1,676  
                                 
Capital expenditures                                
Sypris Technologies   $ 158     $ 131     $ 158     $ 384  
Sypris Electronics     0       61       0       124  
General, corporate and other     0       0       3       0  
Total capital expenditures   $ 158     $ 192     $ 161     $ 508  

 

   

June 29,

    

December 31,

  
   

2025

    

2024

  

 

   (Unaudited)          

Total assets:

                

Sypris Technologies

   $ 32,280     $ 35,013  

Sypris Electronics

     67,756       76,405  

General, corporate and other

     5,801       7,958  

Total assets

   $ 105,837     $ 119,376  
                 

Total liabilities:

                

Sypris Technologies

   $ 15,497     $ 18,104  

Sypris Electronics

     55,807       68,780  

General, corporate and other

     15,854       12,911  

Total liabilities

   $ 87,158     $ 99,795