Sypris Reports First Quarter Results
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Sypris Solutions (SYPR) Misses Q1 EPS by 8c, Revenues Miss; Affirms FY19 Revenue Mid-Point Guidance Above Consensus
May 15, 2019 7:48 AM EDTSypris Solutions (NASDAQ: SYPR) reported Q1 EPS of ($0.11), $0.08 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $19.6 million versus the consensus estimate of $22.45 million.
The Companys first quarter 2019 consolidated revenue was largely flat compared with the prior-year quarter, while consolidated gross margin for the first quarter declined to 8.1% from 10.2% in the year-earlier quarter, both reflecting primarily the expected near-term drag from Sypris Electronics.Revenue for Sypris Technologies increased 11.3% during the quarter compared to the prior-year period, primarily reflecting increased sales volume with customers in the commercial vehicle... More