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Note 11 - Segment Data
 9 Months Ended
Oct. 03, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(11)

Segment Data

 

The Company is organized into two business segments, Sypris Technologies and Sypris Electronics. The segments are each managed separately because of the distinctions between the products, markets, customers, technologies and workforce skills of the segments. Sypris Technologies manufactures forged and finished steel components and subassemblies, high-pressure closures and other fabricated products. Sypris Electronics is focused on circuit card and full “box build” manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work. There was no intersegment net revenue recognized in any of the periods presented.

 

The Company includes the unallocated costs of its corporate office, including the employment costs of its senior management team and other corporate personnel, administrative costs and net corporate interest expense incurred at the corporate level under the caption “General, corporate and other” in the table below. Such unallocated costs include those for centralized information technology, finance, legal and human resources support teams, certain professional fees, director fees, corporate office rent, certain self-insurance costs and recoveries, software license fees and various other administrative expenses that are not allocated to our reportable segments. The unallocated assets include cash and cash equivalents maintained in its domestic treasury accounts and the net book value of corporate facilities and related information systems. The unallocated liabilities consist primarily of the related party notes payable. Domestic income taxes are calculated at an entity level and are not allocated to our reportable segments. Corporate capital expenditures and depreciation and amortization include items attributable to the unallocated fixed assets of the corporate office and related information systems.

 

The following table presents financial information for the reportable segments of the Company (in thousands):

 

  

Three Months Ended

  

Nine Months Ended

 
  

October 3,

  

October 4,

  

October 3,

  

October 4,

 
  

2021

  

2020

  

2021

  

2020

 
  

(Unaudited)

  

(Unaudited)

 

Net revenue from unaffiliated customers:

                

Sypris Technologies

 $16,693  $12,072  $47,022  $33,234 

Sypris Electronics

  8,990   10,082   24,612   28,498 
  $25,683  $22,154  $71,634  $61,732 

Gross profit:

                

Sypris Technologies

 $2,109  $1,907  $5,789  $4,629 

Sypris Electronics

  1,869   1,632   4,314   4,756 
  $3,978  $3,539  $10,103  $9,385 

 

  

Three Months Ended

  

Nine Months Ended

 
  

October 3,

  

October 4,

  

October 3,

  

October 4,

 
  

2021

  

2020

  

2021

  

2020

 
  

(Unaudited)

  

(Unaudited)

 
                 

Operating income (loss):

                

Sypris Technologies

 $901  $873  $2,344  $1,181 

Sypris Electronics

  967   808   1,641   2,249 

General, corporate and other

  (897

)

  (837

)

  (3,187

)

  (3,169

)

  $971  $844  $798  $261 

Income (loss) before taxes:

                

Sypris Technologies

 $701  $437  $1,642  $1,104 

Sypris Electronics

  957   801   1,621   2,225 

General, corporate and other

  (1,030

)

  (982

)

  (8

)

  (3,590

)

  $628  $256  $3,255  $(261

)

 

  

October 3,

  

December 31,

 
  

2021

  

2020

 
  

(Unaudited)

     

Total assets:

        

Sypris Technologies

 $36,184  $31,425 

Sypris Electronics

  31,996   18,620 

General, corporate and other

  8,449   10,663 
  $76,629  $60,708 
         

Total liabilities:

        

Sypris Technologies

 $23,719  $19,974 

Sypris Electronics

  27,748   13,545 

General, corporate and other

  8,381   12,414 
  $59,848  $45,933