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Note 11 - Segment Data | 9 Months Ended
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Sep. 29, 2024
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 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 |
|  | September 29, |  |  | October 1, |  |  | September 29, |  |  | October 1, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  | (Unaudited) |
Net revenue from unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 19,469 |  |  | $ | 19,337 |  |  | $ | 55,660 |  |  | $ | 58,895 |
Sypris Electronics |  |  | 16,188 |  |  |  | 14,244 |  |  |  | 51,071 |  |  |  | 42,593 |
|  | $ | 35,657 |  |  | $ | 33,581 |  |  | $ | 106,731 |  |  | $ | 101,488 |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 3,661 |  |  | $ | 1,459 |  |  | $ | 8,431 |  |  | $ | 6,105 |
Sypris Electronics |  |  | 2,318 |  |  |  | 2,581 |  |  |  | 6,073 |  |  |  | 6,766 |
|  | $ | 5,979 |  |  | $ | 4,040 |  |  | $ | 14,504 |  |  | $ | 12,871 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 2,236 |  |  | $ | 21 |  |  | $ | 4,131 |  |  | $ | 1,720 |
Sypris Electronics |  |  | 1,137 |  |  |  | 1,271 |  |  |  | 2,239 |  |  |  | 3,417 |
General, corporate and other |  |  | (1,644 | ) |  |  | (1,422 | ) |  |  | (4,742 | ) |  |  | (3,885 | )
|  | $ | 1,729 |  |  | $ | (130 | ) |  | $ | 1,628 |  |  | $ | 1,252 |
Income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 1,984 |  |  | $ | (235 | ) |  | $ | 3,322 |  |  | $ | 740 |
Sypris Electronics |  |  | 822 |  |  |  | 1,228 |  |  |  | 1,533 |  |  |  | 3,303 |
General, corporate and other |  |  | (1,869 | ) |  |  | (1,449 | ) |  |  | (5,476 | ) |  |  | (4,105 | )
|  | $ | 937 |  |  | $ | (456 | ) |  | $ | (621 | ) |  | $ | (62 | )
|  | September 29, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |  |  |  |  |
Total assets: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 39,318 |  |  | $ | 41,143 |
Sypris Electronics |  |  | 75,124 |  |  |  | 84,576 |
General, corporate and other |  |  | 7,171 |  |  |  | 3,623 |
|  | $ | 121,613 |  |  | $ | 129,342 |
Total liabilities: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 23,685 |  |  | $ | 21,309 |
Sypris Electronics |  |  | 67,002 |  |  |  | 77,272 |
General, corporate and other |  |  | 12,754 |  |  |  | 8,294 |
|  | $ | 103,441 |  |  | $ | 106,875 |

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