<SEC-DOCUMENT>0001157523-15-001058.txt : 20150331
<SEC-HEADER>0001157523-15-001058.hdr.sgml : 20150331
<ACCEPTANCE-DATETIME>20150331080037
ACCESSION NUMBER:		0001157523-15-001058
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150331
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150331
DATE AS OF CHANGE:		20150331

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:		15736474

	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>a51069628.htm
<DESCRIPTION>SYPRIS SOLUTIONS, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <br>
      <br>
      <br>
      <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-family: Times New Roman; font-size: 12pt"></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;March 31, 2015</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; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="white-space: nowrap; width: 34%; padding-right: 0.0px; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>0-24020</b>
          </p>
        </td>
        <td style="white-space: nowrap; width: 33%; padding-right: 0.0px; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>61-1321992</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <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 style="width: 34%; padding-left: 0.0px; text-align: center" valign="bottom">
          <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 style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <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 style="white-space: nowrap; width: 33%; padding-right: 0.0px; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>40222</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <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 style="width: 33%; padding-left: 0.0px; text-align: center" valign="top">
          <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; width: 100%; text-align: center">
    <hr style="height: 2.0 pt; color: #D3D3D3; width: 100%; text-align: center">


    <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; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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>Section 2 &#8211; Financial Information</b>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 15%; padding-left: 0.0px; text-align: left" valign="top">
          <b>Item 2.02</b>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <b>Results of Operations and Financial Condition.</b>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%; padding-left: 0.0px" valign="top">
          On March 31, 2015, Sypris Solutions, Inc. (the &#8220;Company&#8221;) announced
          its financial results for the fourth quarter ended December 31,
          2014. The full text of the press release is set forth in Exhibit 99
          hereto. The Company has also released certain supplemental financial
          information that can be accessed through the Company&#8217;s website at
          http://www.sypris.com.
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%; padding-left: 0.0px" valign="top">
          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.
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>Section 7 &#8211; Regulation FD</b>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%; padding-left: 0.0px; text-align: left" valign="top">
          <b>Item 7.01</b>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Regulation FD Disclosure.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%; padding-left: 0.0px" valign="top">
          On March 31, 2015, Sypris Solutions, Inc. (the &#8220;Company&#8221;) announced
          its financial results for the fourth quarter ended December 31,
          2014. The full text of the press release is set forth in Exhibit 99
          hereto. The Company has also released certain supplemental financial
          information that can be accessed through the Company&#8217;s website at
          http://www.sypris.com.
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%; padding-left: 0.0px" valign="top">
          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.
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Section 9 &#8211; Financial Statements and Exhibits</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Item 9.01</b>
          </p>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 4%; padding-left: 0.0px; text-align: left" valign="top">
          (d)
        </td>
        <td style="width: 16%; padding-left: 0.0px; text-align: left" valign="top">
          Exhibits.
        </td>
        <td style="width: 80%">

        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 16%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="width: 80%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="white-space: nowrap; width: 16%; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="top">
          99
        </td>
        <td style="width: 80%; padding-left: 0.0px; text-align: left" valign="top">
          Press release issued March 31, 2015.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 6%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="width: 44%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            March 31, 2015
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <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 style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 6%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 44%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt; width: 45%; padding-left: 0.0px; text-align: left" valign="top">
          <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 style="width: 45%; padding-left: 0.0px; text-align: left" valign="top">
          <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 style="width: 45%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President and Treasurer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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

        </td>
        <td style="width: 84%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; width: 16%; padding-right: 0.0px; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99
          </p>
        </td>
        <td style="width: 84%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Registrant&#8217;s press release dated March 31, 2015.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a51069628ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <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 2014 Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Industrial
      Margins Expand</b></font>
    </p>
    <p>
      LOUISVILLE, Ky.--(BUSINESS WIRE)--March 31, 2015--Sypris Solutions, Inc.
      (Nasdaq/NM: SYPR) today reported financial results for its fourth
      quarter and full year ended December 31,&#160;2014.
    </p>
    <p style="text-align: center">
      <b>HIGHLIGHTS</b>
    </p>
    <p>
      For the Fourth Quarter:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue for the fourth quarter increased 18% from the prior year
        quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit increased 45% to $9.2&#160;million from the fourth quarter of
        2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Revenue for the Industrial Group increased 25% from the prior fourth
        quarter to $80.2&#160;million, while gross profit increased 40% to $10.2
        million.
      </li>
    </ul>
    <p>
      For the Full Year:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated revenue increased 14% to $354.8 million from 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit increased 29% to $38.8&#160;million from the prior year.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin expanded 120 basis points from the prior year to 10.9%
      </li>
      <li style="margin-bottom: 10.0px">
        Earnings improved to a loss of $0.06&#160;per share, compared to a loss of
        $0.51&#160;per share for the prior year.
      </li>
      <li style="margin-bottom: 10.0px">
        Revenue, gross profit and gross margin for the Industrial Group
        increased 17%, 33% and 150 basis points, respectively, from 2013.
      </li>
    </ul>
    <p>
      The Company reported revenue of $87.2&#160;million for the fourth quarter
      compared to $73.9&#160;million for the prior year period. Additionally, the
      Company reported a net loss of $2.0&#160;million, or $0.11&#160;per share, as
      compared to $0.1 million for the prior year comparable period.
    </p>
    <p>
      For the full year ended December&#160;31,&#160;2014, the Company reported revenue
      of $354.8&#160;million compared to $310.7&#160;million for the prior year and a
      net loss of $1.2&#160;million, or $0.06&#160;per share, compared to a net loss of
      $9.9&#160;million, or $0.51 per share, for the prior year. The results for
      the year ended December 31, 2013 included a $6.9&#160;million non-cash
      impairment of goodwill.
    </p>
    <p>
      &#8220;Our Industrial Group continued 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 fourth
      quarter increased 25% 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 margins of
      nearly 13% of revenue.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 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>
      &#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
      in the development of a Cyber Security Laboratory with our partner, NEC
      Asia Pacific, for the Singapore Government. While we have not recognized
      any material revenue under the 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 increased 25.4% to $80.2&#160;million in the
      fourth quarter compared to $63.9&#160;million for the prior year period,
      primarily as a result of increased demand from customers in the
      commercial vehicle markets. Gross profit for the quarter was
      $10.2&#160;million, or 12.7% of revenue, compared to $7.3&#160;million, or 11.3%
      of revenue for the same period in 2013.
    </p>
    <p>
      <b>The Electronics Group</b>
    </p>
    <p>
      Revenue for our Electronics Group was $7.1&#160;million in the fourth quarter
      of 2014 compared to $10.0&#160;million in the prior year period, reflecting
      lower product sales to overseas customers and budgetary and funding
      uncertainties within the U.S. Department of Defense. Gross profit for
      the quarter was a loss of $1.0&#160;million, compared to a loss of
      $0.9&#160;million for the prior year period, primarily reflecting the lower
      sales volume and change in product mix.
    </p>
    <p>
      <b>Outlook</b>
    </p>
    <p>
      Mr. Gill added, &#8220;We will continue to concentrate on daily execution
      within both of our businesses. Within our Industrial Group, our legal
      dispute with Dana remains unresolved and as of the beginning of 2015,
      all shipments to Dana ceased. The Company is working to adjust manpower
      and overhead expenses to reflect the cessation of shipments, while
      optimizing our ability to bring in potential new business; we do not
      expect to resume direct shipments to Dana in 2015. 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>
    <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: our failure to develop and implement plans to mitigate the
      impact of loss of revenues from Dana or to adequately diversify our
      revenue sources on a timely basis; 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; reliance on major
      customers or suppliers, especially in the automotive or aerospace and
      defense electronics sectors; 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; 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; our inability to patent or otherwise protect our inventions
      or other intellectual property from potential competitors; our reliance
      on third party vendors and sub-suppliers; adverse impacts of new
      technologies or other competitive pressures which increase our costs or
      erode our margins; 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.</i>
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; margin-left: 0; width: 100%; margin-right: 0" cellspacing="0">
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>SYPRIS SOLUTIONS, INC.</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>Financial Highlights</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          (In thousands, except per share amounts)
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          87,215
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          73,859
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (2,047
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.11
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.11
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,601
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,450
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,601
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,488
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>Year Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          354,776
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          310,714
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,184
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,887
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Loss per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.51
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.51
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="top">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,586
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,345
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,586
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,345
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; margin-left: 0; width: 100%; margin-right: 0" cellspacing="0">
      <tr>
        <td colspan="22">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="22">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="22">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="22" valign="bottom">
          <b>Sypris Solutions, Inc.</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="22" valign="bottom">
          <b>Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="22" valign="bottom">
          <b>(in thousands, except for per share data)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>Year Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>(Unaudited)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net revenue:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          80,158
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          63,905
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          322,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          276,136
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          7,057
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          9,954
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          32,514
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          34,578
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Total net revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          87,215
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          73,859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          354,776
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          310,714
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          69,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          56,652
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          280,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          244,498
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          8,012
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          10,827
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          35,705
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          36,163
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Total cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          77,985
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          67,479
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          315,946
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          280,661
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          10,185
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          7,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          42,021
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          31,638
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (955
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (873
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (3,191
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,585
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Total gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          9,230
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          6,380
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          38,830
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          30,053
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          10,125
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          8,019
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          35,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          30,464
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          302
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          579
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          3,047
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          6,900
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Operating (loss) income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,197
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,843
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          2,720
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (10,388
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          132
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          617
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          522
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (432
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          486
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,282
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (930
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          (Loss) income before taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (916
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (2,461
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          3,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,980
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Income tax expense (benefit), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,131
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (2,522
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          4,569
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (93
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="top">
          Net (loss) income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (2,047
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          61
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,184
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,887
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          (Loss) income per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.11
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.51
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.11
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (0.51
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Dividends declared per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          0.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          0.08
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,601
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,586
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,345
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,601
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,586
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          19,345
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; margin-left: 0; width: 100%; margin-right: 0" cellspacing="0">
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>Sypris Solutions, Inc.</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>(in thousands, except for share data)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="3" valign="bottom">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="3" valign="bottom">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          7,003
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          47,666
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          29,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          5,666
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          89,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          37,654
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          2,661
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          129,681
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          39,027
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          18,775
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          23,806
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          17,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          74,802
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          7,991
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          82,793
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, par value $0.01 per share, 30,000,000 shares
            authorized; 20,567,735 shares issued and 20,485,043 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>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          151,314
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (79,596
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (25,035
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (17,734
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Treasury stock, 82,692 and 48,358 shares in 2014 and 2013,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          46,888
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          129,681
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="12" valign="top">
          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>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 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="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; margin-left: 0; width: 100%; margin-right: 0" cellspacing="0">
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>Sypris Solutions, Inc.</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>Consolidated Cash Flow Statements</b>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="12" valign="bottom">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>Year Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="8" valign="bottom">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,184
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,887
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Adjustments to reconcile net loss to net cash provided by (used
            in) operating activities:
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          10,409
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          12,401
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,050
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,286
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Stock-based compensation expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,597
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,689
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Deferred revenue recognized
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (8,657
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (8,000
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Deferred loan costs recognized
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          78
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          78
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Gain on the sale of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,516
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Provision for excess and obsolete inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,150
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          1,251
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Goodwill impairment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Other noncash items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          565
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Contributions to pension plans
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,090
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (663
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="top">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,091
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (19
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="top">
          Inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          4,276
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,708
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="top">
          Prepaid expenses and other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (143
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (556
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          2,425
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          705
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="top">
          Accrued and other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          3,237
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (247
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 55.0px; text-align: left" valign="top">
          Net cash provided by (used in) operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          3,045
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (293
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from investing activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (5,259
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (5,053
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Proceeds from sale of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          30
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          2,265
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 55.0px; text-align: left" valign="top">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (5,229
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (2,788
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from financing activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Net change in debt under Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (7,000
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          5,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Common stock repurchases
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (426
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (36
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Indirect repurchase of shares for minimum statutory tax withholdings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (429
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (657
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Cash dividends paid
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,635
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (1,216
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Proceeds from issuance of common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 55.0px; text-align: left" valign="top">
          Net cash (used in) provided by financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (9,487
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; border-bottom: solid black 1.0pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          3,091
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net (decrease) increase in cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          (11,671
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          10
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          7,003
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom: double black 2.25pt; padding-right: 0.0px; padding-left: 0.0px; text-align: right" valign="bottom">
          18,674
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br><b>Sypris Solutions, Inc.</b><br><b>Anthony C. Allen,
      502-329-2000</b><br><b>Chief Financial Officer</b>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
