<SEC-DOCUMENT>0001157523-14-004323.txt : 20141104
<SEC-HEADER>0001157523-14-004323.hdr.sgml : 20141104
<ACCEPTANCE-DATETIME>20141104082727
ACCESSION NUMBER:		0001157523-14-004323
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141104
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141104
DATE AS OF CHANGE:		20141104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SYPRIS SOLUTIONS INC
		CENTRAL INDEX KEY:			0000864240
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				611321992
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24020
		FILM NUMBER:		141191160

	BUSINESS ADDRESS:	
		STREET 1:		101 BULLITT LN
		STREET 2:		STE 450
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222
		BUSINESS PHONE:		5023292000

	MAIL ADDRESS:	
		STREET 1:		101 BULLITT LN
		STREET 2:		STE 450
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GROUP TECHNOLOGIES CORP
		DATE OF NAME CHANGE:	19940314
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50975777.htm
<DESCRIPTION>SYPRIS SOLUTIONS, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman"><b>______________</b></font><br><br><font style="font-family: Times New Roman; font-size: 16pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Date
      of Report (Date of earliest event reported): &#160;&#160;November 4, 2014</b></font><br><br><font style="font-family: Times New Roman"><b>______________</b></font><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>Sypris
      Solutions, Inc.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>(Exact
      name of registrant as specified in its charter)</b></font><br><br>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center; width: 34%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>0-24020</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>61-1321992</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(State or Other Jurisdiction</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>of Incorporation)</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 34%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Commission</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>File Number)</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(I.R.S. Employer</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>101 Bullitt Lane, Suite 450</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Louisville, Kentucky</b>
          </p>
        </td>
        <td style="width: 34%">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>40222</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Address of Principal </b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Executive Offices)</b>
          </p>
        </td>
        <td style="width: 34%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Zip Code)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap; text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Registrant&#8217;s
      telephone number, including area code: (502) 329-2000</b></font><b> </b>
    </p>
    <hr style="height: 2.0 pt; color: #000000; text-align: center; width: 100%">
    <hr style="height: 2.0 pt; color: #D3D3D3; text-align: center; width: 100%">


    <p style="text-align: center">
      <br>
      <br>
      <br>
      <br>
      <br>
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>filing
      obligation of the registrant under any of the following provisions:</b></font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt"><b>&#8414;</b></font><b>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></b>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt"><b>&#8414;</b></font><b>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></b>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt"><b>&#8414;</b></font><b>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></b>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt"><b>&#8414;</b></font><b>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></b>
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <br>

    </p>
    <p style="text-align: center">
      <b>Section 2 &#8211; Financial Information</b>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 2.02</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            On November 4, 2014, Sypris Solutions, Inc. (the &#8220;Company&#8221;)
            announced its financial results for the third quarter ended
            September 28, 2014. The full text of the press release is set
            forth in Exhibit 99 hereto.&#160;&#160;The Company has also released certain
            supplemental financial information that can be accessed through
            the Company&#8217;s website at http://www.sypris.com.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            The information in this Form 8-K and the attached Exhibit is being
            furnished pursuant to Item 2.02 &#8220;Results of Operations and
            Financial Condition&#8221; and shall not be deemed &#8220;filed&#8221; for purposes
            of Section 18 of the Securities Exchange Act of 1934 or otherwise
            subject to the liabilities of that section, nor shall it be deemed
            incorporated by reference in any filing under the Securities Act
            of 1933, except as shall be expressly set forth by specific
            reference in such filing.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>Section 7 &#8211; Regulation FD</b>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 7.01</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Regulation FD Disclosure.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            On November 4, 2014, Sypris Solutions, Inc. (the &#8220;Company&#8221;)
            announced its financial results for the third quarter ended
            September 28, 2014. The full text of the press release is set
            forth in Exhibit 99 hereto.&#160;&#160;The Company has also released certain
            supplemental financial information that can be accessed through
            the Company&#8217;s website at http://www.sypris.com.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            The information in this Form 8-K and the attached Exhibit as well
            as the supplemental information referenced above is being
            furnished pursuant to Item 7.01 &#8220;Regulation FD Disclosure&#8221; and
            shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the
            Securities Exchange Act of 1934 or otherwise subject to the
            liabilities of that section, nor shall it be deemed incorporated
            by reference in any filing under the Securities Act of 1933,
            except as shall be expressly set forth by specific reference in
            such filing.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>Section 9 &#8211; Financial Statements and Exhibits</b>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 9.01</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits.
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;<u>Exhibit Number</u> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description
      of Exhibit</u>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;99&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release issued November
      4, 2014.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 6%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 44%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            November 4, 2014
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Sypris Solutions, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 6%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 44%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 5%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 45%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Anthony C. Allen
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Anthony C. Allen
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President and Treasurer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>INDEX TO EXHIBITS</b>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 16%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Number</b></u>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 84%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 16%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 84%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center; width: 16%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 84%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Registrant&#8217;s press release dated November 4, 2014.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a50975777ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2014 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Sypris
      Reports Third Quarter Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Revenue
      and Operating Results Increase on Industrial Group Performance</b></font>
    </p>
    <p>
      LOUISVILLE, Ky.--(BUSINESS WIRE)--November 4, 2014--Sypris Solutions,
      Inc. (Nasdaq/NM: SYPR) today reported financial results for its third
      quarter ended September 28,&#160;2014.
    </p>
    <p style="text-align: center">
      <b>HIGHLIGHTS</b>
    </p>
    <p>
      For the Third Quarter:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated revenue increased 18% to $90.2&#160;million from the third
        quarter of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit increased 13% to $8.2 million from the third quarter of
        2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Earnings improved to a loss of $0.06 per share, compared to a loss of
        $0.10&#160;per share for the prior year period.
      </li>
      <li style="margin-bottom: 10.0px">
        Revenue, gross profit and gross margin for the Industrial Group
        increased 24%, 25% and 20 basis points, respectively, from the third
        quarter of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Subsequent to quarter end, the Company entered into a nonbinding
        letter of intent for the purchase of a company to be merged with our
        Industrial Group. Revenue for this business is expected to approximate
        $40 million in 2014. The closing is scheduled to occur during the
        first quarter of 2015, subject to the satisfactory completion of due
        diligence, among other conditions.
      </li>
    </ul>
    <p>
      For the Nine Months:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated revenue increased 13% to $267.6&#160;million from the first
        nine months of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit increased 25% to $29.6&#160;million from the first nine months
        of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin expanded 110 basis points from the prior year to 11.1%.
      </li>
      <li style="margin-bottom: 10.0px">
        Earnings improved to $0.04 per diluted share, compared to a loss of
        $0.52&#160;per share for the prior year period.
      </li>
      <li style="margin-bottom: 10.0px">
        Revenue, gross profit and gross margin for the Industrial Group
        increased 14%, 31% and 160 basis points, respectively, from the first
        nine months of 2013.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The Company reported revenue of $90.2&#160;million for the third quarter
      compared to $76.3&#160;million for the third quarter of 2013. Additionally,
      the Company reported a net loss of $1.2&#160;million, or $0.06&#160;per share, as
      compared to a net loss of $2.0&#160;million, or $0.10 per share, for the
      prior year comparable period.
    </p>
    <p>
      For the nine months ended September 28,&#160;2014, the Company reported
      revenue of $267.6&#160;million compared to $236.9&#160;million for the first nine
      months of 2013. The Company reported net income for the nine months
      ended September 28,&#160;2014 of $0.9&#160;million, or $0.04 per diluted share, as
      compared to a net loss of $9.9&#160;million, or $0.52 per share, for the
      prior year comparable period. The results for the first nine months of
      2013 included a $6.9&#160;million non-cash impairment of goodwill.
    </p>
    <p>
      &#8220;Our Industrial Group continues to respond well to the rebound in demand
      from our commercial vehicle customers,&#8221; said Jeffrey T. Gill, president
      and chief executive officer. &#8220;Revenue for this segment during the third
      quarter increased 24% year-over year, primarily reflecting increased
      customer demand across all markets. The revenue growth combined with our
      team&#8217;s operational performance resulted in quarterly gross margin of
      over 11% of revenue.&#8221;
    </p>
    <p>
      &#8220;Our Aerospace and Defense business continued its efforts to diversify
      its portfolio of products and services in response to the challenges
      posed by the U.S. defense industry. Our team continues to make progress
      on the development of a Cyber Security Laboratory with our partner, NEC
      Asia Pacific, for the Singapore Government. While we have not recognized
      revenue under this program, it represents one of the steps toward the
      achievement of our diversification objectives,&#8221; Mr. Gill continued.
    </p>
    <p>
      <b>The Industrial Group</b>
    </p>
    <p>
      Revenue for our Industrial Group was $82.6&#160;million in the third quarter,
      an increase of $15.9&#160;million, or 24%, from $66.7&#160;million for the
      comparable prior year quarter, driven primarily by increased customer
      demand. Gross profit for the third quarter increased 25% to
      $9.3&#160;million, or 11.3% of revenue, compared to $7.4&#160;million, or 11.1% of
      revenue for the third quarter of 2013.
    </p>
    <p>
      <b>The Electronics Group</b>
    </p>
    <p>
      Revenue for our Electronics Group was $7.6&#160;million in the third quarter,
      a decrease of $2.0&#160;million from $9.6&#160;million for the comparable prior
      year quarter, primarily due to lower volumes of our data systems branded
      products as compared to the prior year. Gross profit for the third
      quarter was a loss of $1.1&#160;million as compared to a loss of $0.2&#160;million
      for the same period in 2013.
    </p>
    <p>
      <b>Outlook</b>
    </p>
    <p>
      Mr. Gill added, &#8220;We will continue to concentrate on the daily execution
      within both of our businesses. Within our Industrial Group, we will
      strive to improve efficiencies, reduce production cycle time and
      increase capacity while meeting rising customer demand as the commercial
      vehicle market upturn continues in 2014. Our Electronics Group will
      continue to face near-term revenue challenges until such time as new
      programs, products and cyber related services achieve sufficient
      traction to offset the ongoing defense spending uncertainty.&#8221;
    </p>
    <p>
      Sypris Solutions is a diversified provider of outsourced services and
      specialty products. The Company performs a wide range of manufacturing,
      engineering, design and other technical services, typically under
      multi-year, sole-source contracts with corporations and government
      agencies in the markets for truck components and assemblies and
      aerospace and defense electronics. For more information about Sypris
      Solutions, visit its Web site at <u>www.sypris.com</u>.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p>
      <i><b>This press release contains &#8220;forward-looking&#8221; statements within
      the meaning of the federal securities laws.</b> <b>Each forward-looking
      statement herein is subject to risks and uncertainties, as detailed in
      our most recent Form 10-K and Form 10-Q and other SEC filings.</b>
      Briefly, we currently believe that such risks also include the
      following: reliance on major customers or suppliers, especially in the
      automotive or aerospace and defense electronics sectors, including the
      risk of potentially adverse outcomes in ongoing contract renewal
      disputes and negotiations with Dana Holding Corporation and Meritor
      Inc.; our failure to develop and implement plans to mitigate the impact
      of any loss of or reduction in the Dana supply relationship or to
      adequately diversify our revenue sources on a timely basis; our ability
      to successfully develop, launch or sustain new products and programs;
      dependence on, retention or recruitment of key employees especially in
      challenging markets; inventory valuation risks including excessive or
      obsolescent valuations; potential impairments, non-recoverability or
      write-offs of assets or deferred costs; our inability to successfully
      complete definitive agreements for our targeted acquisitions due to
      negative due diligence findings or other factors; volatility of our
      customers&#8217; forecasts, scheduling demands and production levels which
      negatively impact our operational capacity and our effectiveness to
      integrate new customers; declining revenues and backlog in our aerospace
      and defense business lines as we attempt to transition from legacy
      products and services into new market segments and technologies; the
      costs of compliance with our auditing, regulatory or contractual
      obligations; the costs and supply of, or access to, debt, equity
      capital, or insurance; fees, costs or other dilutive effects of
      refinancing, or compliance with covenants; adverse impacts of new
      technologies or other competitive pressures which increase our costs or
      erode our margins; the cost, quality, timeliness, efficiency and yield
      of our operations and capital investments, including working capital,
      production schedules, cycle times, scrap rates, injuries, wages,
      overtime costs, freight or expediting costs; cost and availability of
      raw materials such as steel, component parts, natural gas or utilities;
      regulatory actions or sanctions (including FCPA, OSHA and Federal
      Acquisition Regulations, among others); potential weaknesses in internal
      controls over financial reporting and enterprise risk management;
      disputes or litigation involving customer, supplier, employee, lessor,
      landlord, creditor, stockholder, product liability or environmental
      claims; U.S. government spending on products and services that our
      Electronics Group provides, including the timing of budgetary decisions;
      changes in licenses, security clearances, or other legal rights to
      operate, manage our work force or import and export as needed;
      breakdowns, relocations or major repairs of machinery and equipment;
      pension valuation, health care or other benefit costs; labor relations;
      strikes; union negotiations; cyber security threats and disruptions;
      changes or delays in customer budgets, funding or programs; failure to
      adequately insure or to identify environmental or other insurable risks;
      revised contract prices or estimates of major contract costs; risks of
      foreign operations; currency exchange rates; war, terrorism, or
      political uncertainty; unanticipated or uninsured disasters, losses or
      business risks; inaccurate data about markets, customers or business
      conditions; or unknown risks and uncertainties. There can be no
      assurance that our expectations, projections or views expressed in any
      forward-looking statements will come to pass, and undue reliance should
      not be placed on these forward-looking statements. We undertake no
      obligation to update these statements, except as required by law.</i>
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="21">
          <b>SYPRIS SOLUTIONS, INC.</b><br><b>Financial Highlights</b><br>(In
          thousands, except per share amounts)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="9">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="4">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 28,</b><br><b>2014</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 29,</b><br><b>2013</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="9">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          90,204
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          76,278
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Net loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,159
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,995
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Loss per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.06
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.10
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.06
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.10
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="4">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,373
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,373
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="9">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="4">
          <b>September 28,</b><br><b>2014</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 29,</b><br><b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="9">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          267,561
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          236,855
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Net income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (9,948
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Income (loss) per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="4">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,607
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td colspan="19">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="19">
          <b>Sypris Solutions, Inc.</b><br><b>Consolidated Statements of
          Operations</b><br><b>(in thousands, except for per share data)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 28,</b><br><b>2014</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 29,</b><br><b>2013</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 28,</b><br><b>2014</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 29,</b><br><b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>(Unaudited)</b>
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Net revenue:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Industrial Group
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          82,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          66,650
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          242,104
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          212,231
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="3">
          Electronics Group
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          7,649
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,628
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          25,457
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          24,624
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="2">
          Total net revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          90,204
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          76,278
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          267,561
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          236,855
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Cost of sales:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Industrial Group
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          73,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          59,233
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          210,268
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          187,846
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="3">
          Electronics Group
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          8,739
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,784
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          27,693
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          25,336
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="3">
          Total cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          81,995
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          69,017
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          237,961
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          213,182
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Gross profit (loss):
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Industrial Group
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,299
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          7,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          31,836
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          24,385
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="3">
          Electronics Group
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,090
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (156
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (2,236
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (712
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="2">
          Total gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          8,209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          7,261
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          29,600
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          23,673
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          8,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          7,689
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          25,406
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          22,445
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Research and development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          116
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          277
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          2,843
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          30
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" colspan="3">
          Impairment of goodwill
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          6,900
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="3">
          Operating (loss) income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (180
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (975
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          3,917
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (8,545
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          124
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          466
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          390
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" colspan="3">
          Other expense (income), net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (397
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          38
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (850
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,416
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="3">
          Income (loss) before taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          38
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,137
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          4,301
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (7,519
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" colspan="3">
          Income tax expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          1,197
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          858
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          3,438
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          2,429
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" colspan="2">
          Net (loss) income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,159
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,995
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          863
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (9,948
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          (Loss) income per common share
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.06
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.10
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.06
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.10
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (0.52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Dividends declared per common share
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          0.06
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,373
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,373
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,607
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="9">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="16">
          <b>Sypris Solutions, Inc.</b><br><b>Consolidated Balance Sheets</b><br><b>(in
          thousands, except for share data)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 28,</b><br><b>2014</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>December 31,</b><br><b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>(Unaudited)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>(Note)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="5">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="3">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,261
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          18,674
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          61,597
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          38,533
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Inventory, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          35,490
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          34,422
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="2">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          6,515
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          5,403
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="2">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          122,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          97,032
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          40,708
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          44,683
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          4,266
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          4,568
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          167,837
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          146,283
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="5">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Current liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          59,686
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          36,684
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="2">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          23,007
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          23,806
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="2">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          82,693
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          60,490
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          25,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          24,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          4,342
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          5,541
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Total liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          112,035
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          90,031
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          Stockholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="5">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Preferred stock, par value $0.01 per share, 975,150 shares
            authorized; no shares issued
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="5">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Series A preferred stock, par value $0.01 per share, 24,850 shares
            authorized; no shares issued
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="5">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, non-voting, par value $0.01 per share, 10,000,000
            shares authorized; no shares issued
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="5">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, par value $0.01 per share, 30,000,000 shares
            authorized; 20,591,541 shares issued and 20,521,849 outstanding in
            2014 and 20,448,007 shares issued and 20,399,649 outstanding in
            2013
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          204
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          151,029
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          150,569
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Retained deficit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (77,140
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (76,786
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="4">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (18,292
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (17,734
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="5">
          Treasury stock, 69,692 and 48,358 shares in 2014 and 2013,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" colspan="3">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          55,802
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          56,252
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" colspan="4">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          167,837
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          146,283
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="16">
          Note: The balance sheet at December 31, 2013 has been derived from
          the audited consolidated financial statements at that date but does
          not include all information and footnotes required by accounting
          principles generally accepted in the United States for a complete
          set of financial statements.
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Sypris Solutions, Inc.<br>Consolidated Cash Flow Statements<br>(in
            thousands)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 28,</b><br><b>2014</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="3">
          <b>September 29,</b><br><b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: center" colspan="7">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="4">
          Cash flows from operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Net income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (9,948
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left" colspan="6">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Adjustments to reconcile net income (loss) to net cash provided by
            (used in) operating activities:
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          7,987
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,355
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="4">
          Stock-based compensation expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          1,235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          1,452
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          Deferred revenue recognized
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (6,493
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (6,000
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="4">
          Deferred loan costs recognized
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          58
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          58
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          Gain on the sale of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,645
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="5">
          Provision for excess and obsolete inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          897
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          1,021
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="2">
          Goodwill impairment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          6,900
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="2">
          Other noncash items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (135
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          549
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          Contributions to pension plans
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (907
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (477
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="5">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; text-align: left" colspan="2">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (23,041
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (7,931
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; text-align: left">
          Inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,955
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (4,656
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; text-align: left" colspan="4">
          Prepaid expenses and other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (835
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          535
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; text-align: left" colspan="2">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          22,993
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,888
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 40.0px; text-align: left" colspan="3">
          Accrued and other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          5,376
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          31
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 60.0px; text-align: left" colspan="5">
          Net cash provided by (used in) operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          6,039
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (868
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="4">
          Cash flows from investing activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Capital expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (4,462
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (3,092
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="3">
          Proceeds from sale of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          8
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          2,265
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 60.0px; text-align: left" colspan="4">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (4,454
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (827
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="4">
          Cash flows from financing activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="4">
          Net (payment) proceeds on Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          1,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (5,974
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="3">
          Common stock repurchases
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (357
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (9
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="7">
          Indirect repurchase of shares for minimum statutory tax withholdings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (420
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (565
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left" colspan="2">
          Cash dividends paid
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (1,225
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (808
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" colspan="4">
          Proceeds from issuance of common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 60.0px; text-align: left" colspan="4">
          Net cash used in financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (998
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (7,356
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="6">
          Net increase (decrease) in cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          587
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: right">
          (9,051
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" colspan="5">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          18,674
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          18,664
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" colspan="5">
          Cash and cash equivalents at end of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          19,261
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 2.25pt; padding-right: 0.0px; white-space: nowrap; text-align: right">
          9,613
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Sypris Solutions, Inc.<br>Anthony C. Allen, 502-329-2000<br>Vice
      President &amp; Treasurer</b>
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
