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Note 11 - Segment Data
 3 Months Ended
Mar. 30, 2025
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. Our Chief Executive Officer (CEO) serves as our Chief Operating Decision Maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM evaluates each segment’s performance based on metrics such as net revenue, gross profit, operating income and other key financial indicators, guiding strategic decisions to align with company-wide goals. On a monthly basis, the CODM considers budget-to-actual variances for gross profit and operating income when making decisions about allocating capital to the segments. 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, communications and space electronics. There was no intersegment net revenue recognized for any year 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

  
   

March 30,

    

March 31,

  
   

2025

    

2024

  
   

(Unaudited)

  

Net revenue from unaffiliated customers:

                

Sypris Technologies

   $ 13,573     $ 18,350  

Sypris Electronics

     15,935       17,203  

Total net revenue

   $ 29,508     $ 35,553  
                 

Gross profit:

                

Sypris Technologies

   $ 2,107     $ 2,051  

Sypris Electronics

     1,258       833  

Total gross profit

   $ 3,366     $ 2,884  
                 

Operating income (loss):

                

Sypris Technologies

   $ 726     $ 506  

Sypris Electronics

     185       (563 )

General, corporate and other

     (1,041 )     (1,317 )

Total operating loss

   $ (130 )   $ (1,374 )
                 

Income (loss) before taxes:

                

Sypris Technologies

   $ 579     $ 150  

Sypris Electronics

     151       (628 )

General, corporate and other

     (1,327 )     (1,555 )
Total loss before taxes   $ (597 )   $ (2,033 )

 

   

March 30,

    

December 31,

  
   

2025

    

2024

  
   

(Unaudited)

          

Total assets:

                

Sypris Technologies

   $ 31,714     $ 35,013  

Sypris Electronics

     72,351       76,405  

General, corporate and other

     6,138       7,958  

Total assets

   $ 110,203     $ 119,376  
                 

Total liabilities:

                

Sypris Technologies

   $ 15,703     $ 18,104  

Sypris Electronics

     60,022       68,780  

General, corporate and other

     15,501       12,911  
Total liabilities   $ 91,226     $ 99,795