Sypris Reports Second Quarter Results
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Sypris Solutions (SYPR) Reports Q2 EPS of $0.04; Affirms 2H18 Revenue Guidance
August 14, 2018 7:47 AM EDTSypris Solutions (NASDAQ: SYPR) reported Q2 EPS of $0.04. Revenue for the quarter came in at $22.97 million versus the consensus estimate of $23.05 million.
The Companys revenue increased 15.2% sequentially from the first quarter of 2018, while gross margin increased to 12.8% of revenue, up 260 basis points sequentially and up 520 basis points from the second quarter of 2017. Earnings improved to $0.04 per share from a loss of $0.15 for the prior-year period.Revenue for Sypris Technologies increased 9.0% during the quarter compared with the prior-year period, reflecting the impact of new contract awards and favorable market... More