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Note 10 - Segment Data
 9 Months Ended
Oct. 02, 2022
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(10)

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 generates revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics provides circuit card and box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work to customers in the market for aerospace and defense electronics. There was no intersegment net revenue recognized for any period 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 2,

  

October 3,

  

October 2,

  

October 3,

 
  

2022

  

2021

  

2022

  

2021

 
  

(Unaudited)

  

(Unaudited)

 

Net revenue from unaffiliated customers:

                

Sypris Technologies

 $16,990  $16,693  $52,096  $47,022 

Sypris Electronics

  8,209   8,990   28,313   24,612 
  $25,199  $25,683  $80,409  $71,634 
                 

Gross profit:

                

Sypris Technologies

 $1,071  $2,109  $6,334  $5,789 

Sypris Electronics

  900   1,869   3,926   4,314 
  $1,971  $3,978  $10,260  $10,103 

 

  Three Months Ended  Nine Months Ended 
  October 2,  October 3,  October 2,  October 3, 
  2022  2021  2022  2021 

Operating (loss) income:

 (Unaudited)  (Unaudited) 

Sypris Technologies

 $(361

)

 $901  $2,243  $2,344 

Sypris Electronics

  (56

)

  967   1,280   1,641 

General, corporate and other

  (1,186

)

  (897

)

  (3,963

)

  (3,187

)

  $(1,603

)

 $971  $(440

)

 $798 

(Loss) income before taxes:

                

Sypris Technologies

 $(585

)

 $701  $1,578  $1,642 

Sypris Electronics

  (91

)

  957   1,167   1,621 

General, corporate and other

  (1,582

)

  (1,030

)

  (4,624

)

  (8

)

  $(2,258

)

 $628  $(1,879

)

 $3,255 

 

  

October 2,

  

December 31,

 
  

2022

  

2021

 
  

(Unaudited)

     

Total assets:

        

Sypris Technologies

 $36,773  $35,977 

Sypris Electronics

  39,602   35,599 

General, corporate and other

  15,718   7,929 
  $92,093  $79,505 
         

Total liabilities:

        

Sypris Technologies

 $21,870  $20,666 

Sypris Electronics

  43,629   31,030 

General, corporate and other

  9,089   8,523 
  $74,588  $60,219