v3.26.1
Note 11 - Segment Data
 3 Months Ended
Apr. 05, 2026
Notes to Financial Statements  
Segment Reporting [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 (loss) 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 (loss) 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

  
   

April 5,

    

March 30,

  
   

2026

    

2025

  
   

(Unaudited)

  

Net revenue from unaffiliated customers:

          

Sypris Technologies

   $ 12,412     $ 13,573  

Sypris Electronics

     13,399       15,935  

Total net revenue

   $ 25,811     $ 29,508  
                 

Gross profit (loss):

                

Sypris Technologies

   $ 1,419     $ 2,107  

Sypris Electronics

     (598 )     1,258  

Total gross profit

   $ 821     $ 3,366  
                 

Operating income (loss):

                

Sypris Technologies

   $ 38     $ 726  

Sypris Electronics

     (1,609 )     185  

General, corporate and other

     (2,031 )     (1,041 )
Total operating loss   $ (3,602 )   $ (130 )
                 

Interest expense, net:

                

Sypris Technologies

   $ 179     $ 49  

Sypris Electronics

     49       42  

General, corporate and other

     302       211  
Total interest expense   $ 530     $ 302  
                 

(Loss) income before taxes:

                

Sypris Technologies

   $ (200 )   $ 579  

Sypris Electronics

     (1,658 )     151  

General, corporate and other

     (2,414 )     (1,327 )
Total loss before taxes   $ (4,272 )   $ (597 )
           

Depreciation and amortization:

          

Sypris Technologies

   $ 522     $ 456  

Sypris Electronics

     235       243  

General, corporate and other

     3       0  

Total depreciation and amortization

   $ 760     $ 699  

 

 

   

April 5,

    

December 31,

  
   

2026

    

2025

  
   

(Unaudited)

          

Total assets:

                

Sypris Technologies

   $ 38,035     $ 37,095  

Sypris Electronics

     61,056       63,469  

General, corporate and other

     6,150       7,247  

Total assets

   $ 105,241     $ 107,811  
                 

Total liabilities:

                

Sypris Technologies

   $ 21,925     $ 20,214  

Sypris Electronics

     52,334       52,139  

General, corporate and other

     17,142       17,668  

Total liabilities

   $ 91,401     $ 90,021