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Note 10 - Segment Information
 3 Months Ended
Apr. 02, 2023
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

  
   

April 2,

    

April 3,

  
   

2023

    

2022

  
   

(Unaudited)

  
Net revenue from unaffiliated customers:                

Sypris Technologies

   $ 19,500     $ 17,155  

Sypris Electronics

     12,792       9,011  

Total net revenue

   $ 32,292     $ 26,166  
Gross profit:                

Sypris Technologies

   $ 2,639     $ 3,132  

Sypris Electronics

     1,522       1,377  

Total gross profit

   $ 4,161     $ 4,509  

 

   

Three Months Ended

  
   

April 2,

    

April 3,

  
   

2023

    

2022

  
   

(Unaudited)

  

Operating income (loss):

                

Sypris Technologies

   $ 1,161     $ 1,864  

Sypris Electronics

     562      

501

  

General, corporate and other

     (1,307 )     (1,245

)

Total operating income

   $ 416     $ 1,120  

Income (loss) before taxes:

                

Sypris Technologies

   $ 1,023     $ 1,619  

Sypris Electronics

     532       461  

General, corporate and other

     (1,436

)

     (1,377 )

Total income (loss) before taxes

   $ 119     $ 703  

 

   

April 2,

    

December 31,

  
   

2023

    

2022

  
   

(Unaudited)

          
Total assets:                

Sypris Technologies

   $ 42,191     $ 36,875  

Sypris Electronics

     58,540       47,522  

General, corporate and other

     15,711       19,747  

Total assets

   $ 116,442     $ 104,144  
Total liabilities:                

Sypris Technologies

   $ 21,985     $ 19,492  

Sypris Electronics

     65,050       56,073  

General, corporate and other

     8,418       9,004  

Total liabilities

   $ 95,453     $ 84,569