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Note 11 - Segment Data
 9 Months Ended
Sep. 28, 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

    

Nine Months Ended

  
   

September 28,

    

September 29,

    

September 28,

    

September 29,

  
   

2025

    

2024

    

2025

    

2024

  
   

(Unaudited)

    

(Unaudited)

  

Net revenue from unaffiliated customers:

                                

Sypris Technologies

   $ 11,534     $ 19,469     $ 39,204     $ 55,660  

Sypris Electronics

     17,138       16,188       50,402       51,071  

Total net revenue

   $ 28,672     $ 35,657     $ 89,606     $ 106,731  
                                 

Gross profit:

                                

Sypris Technologies

   $ 870     $ 3,661     $ 5,120     $ 8,431  

Sypris Electronics

     1,181       2,318       2,881       6,073  

Total gross profit

   $ 2,051     $ 5,979     $ 8,001     $ 14,504  
                                 

Operating (expense) income:

                                

Sypris Technologies

   $ (633 )   $ 2,236     $ 583     $ 4,131  

Sypris Electronics

     200       1,137       (267 )     2,239  

General, corporate and other

     (1,305 )     (1,644 )     (3,625 )     (4,742 )
Total operating (expense) income   $ (1,738 )   $ 1,729     $ (3,309 )   $ 1,628  
                                 

Interest expense, net:

                                

Sypris Technologies

   $ 51     $ 63     $ 145     $ 191  

Sypris Electronics

     49       321       140       719  

General, corporate and other

     285       162       783       558  
Total interest expense, net   $ 385     $ 546     $ 1,068     $ 1,468  
                                 

Other (income) expense, net:

                                

Sypris Technologies

   $ (2,464 )   $ 252     $ (2,061 )   $ 801  

Sypris Electronics

     (10 )     (6 )     (18 )     (14 )

General, corporate and other

     0       0       (6 )     (6 )
Total other (income) expense, net   $ (2,474 )   $ 246     $ (2,085 )   $ 781  
                                 

Income (loss) before taxes:

                                

Sypris Technologies

   $ 1,868     $ 1,984     $ 2,756     $ 3,322  

Sypris Electronics

     160       822       (391 )     1,533  

General, corporate and other

     (1,677 )     (1,869 )     (4,657 )     (5,476 )

Total income (loss) before taxes

   $ 351     $ 937     $ (2,292 )   $ (621 )
                                 

Depreciation and amortization:

                                

Sypris Technologies

   $ 482     $ 540     $ 1,409     $ 1,764  

Sypris Electronics

     239       233       719       683  

General, corporate and other

     0       0       0       2  

Total depreciation and amortization

   $ 721     $ 773     $ 2,128     $ 2,449  
                                 

Capital expenditures:

                                

Sypris Technologies

   $ 199     $ 48     $ 357     $ 432  

Sypris Electronics

     11       109       11       234  

General, corporate and other

     2       0       5       0  

Total capital expenditures

   $ 212     $ 157     $ 373     $ 666  

 

   

September 28,

    

December 31,

  
   

2025

    

2024

  
   

(Unaudited)

          

Total assets:

                

Sypris Technologies

   $ 38,306     $ 35,013  

Sypris Electronics

     65,780       76,405  

General, corporate and other

     8,382       7,958  

Total assets

   $ 112,468     $ 119,376  
                 

Total liabilities:

                

Sypris Technologies

   $ 22,521     $ 18,104  

Sypris Electronics

     53,594       68,780  

General, corporate and other

     16,399       12,911  

Total liabilities

   $ 92,514     $ 99,795