$SYPR
SYPRIS SOLUTIONS INC

2022 Q4 Form 10-Q Financial Statement

#000143774922027505 Filed on November 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q4
Revenue $25.20M
YoY Change -1.88%
Cost Of Revenue $23.23M
YoY Change 7.02%
Gross Profit $1.971M
YoY Change -50.45%
Gross Profit Margin 7.82%
Selling, General & Admin $3.574M
YoY Change 18.86%
% of Gross Profit 181.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $771.0K
YoY Change 15.07%
% of Gross Profit 39.12%
Operating Expenses $3.574M
YoY Change 18.86%
Operating Profit -$1.603M
YoY Change -265.09%
Interest Expense $273.0K
YoY Change 29.38%
% of Operating Profit
Other Income/Expense, Net -$382.0K
YoY Change 189.39%
Pretax Income -$2.258M
YoY Change -459.55%
Income Tax -$16.00K
% Of Pretax Income
Net Earnings -$2.242M
YoY Change -862.59%
Net Earnings / Revenue -8.9%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.10
COMMON SHARES
Basic Shares Outstanding 21.74M
Diluted Shares Outstanding 21.74M

Balance Sheet

Concept 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.47M
YoY Change 48.4%
Cash & Equivalents $16.47M
Short-Term Investments
Other Short-Term Assets $7.508M
YoY Change 27.95%
Inventory $35.18M
Prepaid Expenses $1.810M
Receivables $8.852M
Other Receivables $0.00
Total Short-Term Assets $68.01M
YoY Change 21.33%
LONG-TERM ASSETS
Property, Plant & Equipment $15.08M
YoY Change 6.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.555M
YoY Change 9.23%
Total Long-Term Assets $24.08M
YoY Change 2.7%
TOTAL ASSETS
Total Short-Term Assets $68.01M
Total Long-Term Assets $24.08M
Total Assets $92.09M
YoY Change 15.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.89M
YoY Change 32.8%
Accrued Expenses $20.76M
YoY Change 5.69%
Deferred Revenue $27.91M
YoY Change 85.9%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.907M
YoY Change 19.85%
Total Short-Term Liabilities $41.70M
YoY Change 22.67%
LONG-TERM LIABILITIES
Long-Term Debt $7.538M
YoY Change 16.78%
Other Long-Term Liabilities $21.34M
YoY Change 102.69%
Total Long-Term Liabilities $21.34M
YoY Change 102.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.70M
Total Long-Term Liabilities $21.34M
Total Liabilities $74.59M
YoY Change 23.86%
SHAREHOLDERS EQUITY
Retained Earnings -$115.5M
YoY Change 2.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares $19.00K
Shareholders Equity $17.51M
YoY Change
Total Liabilities & Shareholders Equity $92.09M
YoY Change 15.83%

Cashflow Statement

Concept 2022 Q4
OPERATING ACTIVITIES
Net Income -$2.242M
YoY Change -862.59%
Depreciation, Depletion And Amortization $771.0K
YoY Change 15.07%
Cash From Operating Activities $10.30M
YoY Change -259.78%
INVESTING ACTIVITIES
Capital Expenditures -$971.0K
YoY Change 57.63%
Acquisitions
YoY Change
Other Investing Activities $6.000K
YoY Change
Cash From Investing Activities -$965.0K
YoY Change 56.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -338.0K
YoY Change 42.02%
NET CHANGE
Cash From Operating Activities 10.30M
Cash From Investing Activities -965.0K
Cash From Financing Activities -338.0K
Net Change In Cash 9.001M
YoY Change -223.25%
FREE CASH FLOW
Cash From Operating Activities $10.30M
Capital Expenditures -$971.0K
Free Cash Flow $11.28M
YoY Change -293.3%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
SYPRIS SOLUTIONS INC
CY2022Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2021Q4 us-gaap Treasury Stock Shares
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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dei Document Type
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dei Document Period End Date
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dei Entity File Number
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
61-1321992
dei Entity Address Address Line1
EntityAddressAddressLine1
101 Bullitt Lane, Suite 450
dei Entity Address City Or Town
EntityAddressCityOrTown
Louisville
dei Entity Address State Or Province
EntityAddressStateOrProvince
KY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
40222
dei City Area Code
CityAreaCode
502
dei Local Phone Number
LocalPhoneNumber
329-2000
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
SYPR
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Small Business
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dei Entity Emerging Growth Company
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us-gaap Pension Contributions
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Finance Lease Principal Payments
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us-gaap Finance Lease Principal Payments
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sypr Principal Payments On Equipment Financing Obligations
PrincipalPaymentsOnEquipmentFinancingObligations
253000 usd
sypr Principal Payments On Equipment Financing Obligations
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132000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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40000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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405000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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-1018000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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382000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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53000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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4854000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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16474000 usd
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sypr Fixed Assets Acquired With Equipment Financing Loan
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280000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Nature Of Operations
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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"><tbody><tr style="vertical-align: top;"><td style="width: 36pt;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>(<em style="font: inherit;">1</em>)</b></p> </td><td style="width: auto;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>Nature of Business</b></p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">All references to “Sypris,” the “Company,” “we” or “our” include Sypris Solutions, Inc. and its wholly-owned subsidiaries. Sypris is a diversified provider of truck components, oil and gas pipeline components and aerospace and defense electronics. The Company produces a wide range of manufactured products, often under multi-year, sole-source contracts. The Company offers such products through its two business segments, Sypris Technologies, Inc. (“Sypris Technologies”) and Sypris Electronics, LLC (“Sypris Electronics”) (See Note <em style="font: inherit;">10</em>).</p>
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CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
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CY2021Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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4310000 usd
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us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
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FinanceLeaseInterestExpense
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CY2022Q4 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
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1222000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2021Q4 us-gaap Product Warranty Accrual
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-146000 usd
CY2021Q4 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-158000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-437000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-473000 usd
CY2022Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
147000 usd
CY2021Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
159000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
440000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
476000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-11060000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-11440000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-22614000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-22994000 usd

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