2023-08-15 07:47:37 ET
- Sypris Solutions press release ( NASDAQ: SYPR ): Q2 GAAP EPS of $0.01.
- Revenue of $35.62M (+22.6% Y/Y).
- Revenue for the quarter increased 22.6% year-over-year, driven by a 40.2% increase for Sypris Electronics and a 11.7% increase for Sypris Technologies.
- Backlog increased 25.5%, reflecting a 25.0% year-over-year increase at Sypris Electronics and 38.0% growth for the energy products of Sypris Technologies.
- The Company updated its full-year outlook for 2023, maintaining the expected increase in revenue at 25-30% year-over-year while adjusting the guidance for gross margin expansion to 75 to 125 basis points due to the continuing unfavorable impact of the Mexican peso relative to the U.S. dollar.
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Sypris Solutions GAAP EPS of $0.01, revenue of $35.62M