v3.26.1
Note 11 - Segment Data
 6 Months Ended
Jul. 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 period 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

  
   

July 5,

    

June 29,

    

July 5,

    

June 29,

  
   

2026

    

2025

    

2026

    

2025

  
   

(Unaudited)

    

(Unaudited)

  

Net revenue from unaffiliated customers:

                                

Sypris Technologies

   $ 14,882     $ 14,097     $ 27,294     $ 27,670  

Sypris Electronics

     15,459       17,329       28,858       33,264  

Total net revenue

   $ 30,341     $ 31,426     $ 56,152     $ 60,934  
                                 

Gross profit (loss):

                                

Sypris Technologies

   $ 2,746     $ 2,143     $ 4,165     $ 4,250  

Sypris Electronics

     (765 )     441       (1,363 )     1,700  

Total gross profit

   $ 1,981     $ 2,584     $ 2,802     $ 5,950  
                                 

Operating income (loss):

                                

Sypris Technologies

   $ 1,120     $ 490     $ 1,158     $ 1,216  

Sypris Electronics

     (1,921 )     (652 )     (3,530 )     (467 )

General, corporate and other

     (1,655 )     (1,279 )     (3,686 )     (2,320 )
Total operating income (loss)   $ (2,456 )   $ (1,441 )   $ (6,058 )   $ (1,571 )
                                 

Interest expense, net:

                                

Sypris Technologies

   $ 186     $ 45     $ 365     $ 94  

Sypris Electronics

     19       49       68       91  

General, corporate and other

     297       287       599       498  

Total interest expense

   $ 502     $ 381     $ 1,032     $ 683  
                                 

Other expense (income), net:

                                

Sypris Technologies

   $ 195     $ 224     $ 341     $ 403  

Sypris Electronics

     (3 )     0       (3 )     (8 )

General, corporate and other

     0       0       (6 )     (6 )
Total other expense, net   $ 192     $ 224     $ 332     $ 389  
                                 

Income (loss) before taxes:

                                

Sypris Technologies

   $ 827     $ 309     $ 627     $ 888  

Sypris Electronics

     (1,937 )     (702 )     (3,595 )     (551 )

General, corporate and other

     (2,040 )     (1,653 )     (4,454 )     (2,980 )
    $ (3,150 )   $ (2,046 )   $ (7,422 )   $ (2,643 )

Depreciation and amortization:

                                

Sypris Technologies

   $ 515     $ 471     $ 1,037     $ 927  

Sypris Electronics

     230       236       465       479  

General, corporate and other

     8       0       11       1  

Total depreciation and amortization

   $ 753     $ 708     $ 1,513     $ 1,407  

 

 

   

Three Months Ended

     Six Months Ended  
    July 5,     June 29,     July 5,     June 29,  
    2026     2025     2026     2025  
    (Unaudited)     (Unaudited)  

Capital expenditures:

                                

Sypris Technologies

   $ 324     $ 158     $ 369     $ 158  

Sypris Electronics

     21       0       21       0  

General, corporate and other

     0       0       185       3  

Total capital expenditures

   $ 345     $ 158     $ 575     $ 161  

 

 

   

July 5,

    

December 31,

  
   

2026

    

2025

  
   

(Unaudited)

          

Total assets:

                

Sypris Technologies

   $ 38,631     $ 37,095  

Sypris Electronics

     59,060       63,469  

General, corporate and other

     7,521       7,247  

Total assets

   $ 105,212     $ 107,811  
                 

Total liabilities:

                

Sypris Technologies

   $ 22,617     $ 20,214  

Sypris Electronics

     52,935       52,139  

General, corporate and other

     17,936       17,668  

Total liabilities

   $ 93,488     $ 90,021