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Note 11 - Segment Data | 6 Months Ended
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Jun. 29, 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 |  |  | Six Months Ended |
|  | June 29, |  |  | June 30, |  |  | June 29, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Unaudited) |  |  | (Unaudited) |
Net revenue from unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 14,097 |  |  | $ | 17,841 |  |  | $ | 27,670 |  |  | $ | 36,191 |
Sypris Electronics |  |  | 17,329 |  |  |  | 17,680 |  |  |  | 33,264 |  |  |  | 34,883 |
Total net revenue |  | $ | 31,426 |  |  | $ | 35,521 |  |  | $ | 60,934 |  |  | $ | 71,074 |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 2,143 |  |  | $ | 2,719 |  |  | $ | 4,250 |  |  | $ | 4,770 |
Sypris Electronics |  |  | 441 |  |  |  | 2,922 |  |  |  | 1,700 |  |  |  | 3,755 |
Total gross profit |  | $ | 2,584 |  |  | $ | 5,641 |  |  | $ | 5,950 |  |  | $ | 8,525 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 490 |  |  | $ | 1,389 |  |  | $ | 1,216 |  |  | $ | 1,895 |
Sypris Electronics |  |  | (652 | ) |  |  | 1,665 |  |  |  | (467 | ) |  |  | 1,102 |
General, corporate and other |  |  | (1,279 | ) |  |  | (1,781 | ) |  |  | (2,320 | ) |  |  | (3,098 | )
Total operating income (loss) |  | $ | (1,441 | ) |  | $ | 1,273 |  |  | $ | (1,571 | ) |  | $ | (101 | )
Interest expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 45 |  |  | $ | 63 |  |  | $ | 94 |  |  | $ | 128 |
Sypris Electronics |  |  | 49 |  |  |  | 333 |  |  |  | 91 |  |  |  | 398 |
General, corporate and other |  |  | 287 |  |  |  | 208 |  |  |  | 498 |  |  |  | 396 |
Total interest expense |  | $ | 381 |  |  | $ | 604 |  |  | $ | 683 |  |  | $ | 922 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 224 |  |  | $ | 200 |  |  | $ | 406 |  |  | $ | 589 |
Sypris Electronics |  |  | 0 |  |  |  | (8 | ) |  |  | (8 | ) |  |  | (8 | )
General, corporate and other |  |  | 0 |  |  |  | 0 |  |  |  | (6 | ) |  |  | (6 | )
Total other expense, net |  | $ | 224 |  |  | $ | 194 |  |  | $ | 389 |  |  | $ | 535 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 29, |  |  | June 30, |  |  | June 29, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Unaudited) |  |  | (Unaudited) |
Income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 309 |  |  | $ | 1,188 |  |  | $ | 888 |  |  | $ | 1,338 |
Sypris Electronics |  |  | (702 | ) |  |  | 1,339 |  |  |  | (551 | ) |  |  | 711 |
General, corporate and other |  |  | (1,653 | ) |  |  | (2,052 | ) |  |  | (2,980 | ) |  |  | (3,607 | )
|  | $ | (2,046 | ) |  | $ | 475 |  |  | $ | (2,643 | ) |  | $ | (1,558 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 471 |  |  | $ | 606 |  |  | $ | 927 |  |  | $ | 1,224 |
Sypris Electronics |  |  | 236 |  |  |  | 225 |  |  |  | 479 |  |  |  | 450 |
General, corporate and other |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 2 |
Total depreciation and amortization |  | $ | 708 |  |  | $ | 831 |  |  | $ | 1,407 |  |  | $ | 1,676 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 158 |  |  | $ | 131 |  |  | $ | 158 |  |  | $ | 384 |
Sypris Electronics |  |  | 0 |  |  |  | 61 |  |  |  | 0 |  |  |  | 124 |
General, corporate and other |  |  | 0 |  |  |  | 0 |  |  |  | 3 |  |  |  | 0 |
Total capital expenditures |  | $ | 158 |  |  | $ | 192 |  |  | $ | 161 |  |  | $ | 508 |
|  | June 29, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
|  | (Unaudited) |  |  |  |  |
Total assets: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 32,280 |  |  | $ | 35,013 |
Sypris Electronics |  |  | 67,756 |  |  |  | 76,405 |
General, corporate and other |  |  | 5,801 |  |  |  | 7,958 |
Total assets |  | $ | 105,837 |  |  | $ | 119,376 |
Total liabilities: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 15,497 |  |  | $ | 18,104 |
Sypris Electronics |  |  | 55,807 |  |  |  | 68,780 |
General, corporate and other |  |  | 15,854 |  |  |  | 12,911 |
Total liabilities |  | $ | 87,158 |  |  | $ | 99,795 |

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- Definition The entire disclosure for reporting segments including data and tables. 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