I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.
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Latest posts by Elizabeth Villa (see all)
- Active Mover: Sypris Solutions Inc. (NASDAQ: SYPR) - July 14, 2019
- Active Stock Evaluation: Sonoco Products Company (NYSE: SON) - July 13, 2019
- Intraday Mover: Electrameccanica Vehicles Corp. (NASDAQ: SOLO) - July 13, 2019
LOUISVILLE, Ky., July 14, 2019 – Shares of Sypris Solutions Inc. (NASDAQ: SYPR) inclined 1.20% to $0.84. The stock traded total volume of 20.229K shares higher than the average volume of 13.47K shares.
Sypris Solutions, Inc. (SYPR) reported revenue of $24.00M for the fourth quarter contrast with $21.50M for the prior-year period. The Company reported a net loss of $0.20M, or $0.01 per share, contrast with a loss of $1.20M, or $0.06 per share, for the prior-year quarter. The results for the quarter ended December 31, 2018, include a benefit in selling, general and administrative expense of $1.90M for the favorable resolution of a legal fee.
For the full-year ended December 31, 2018, the Company reported revenue of $88.00M contrast with $82.30M for the prior-year. The Company reported a net loss of $3.50M, or $0.17 per share, contrast with a net loss of $10.80M, or $0.53 per share, for 2017. In addition to the $1.90M legal fee benefit recorded in the fourth quarter, results for the year ended December 31, 2018, included an insurance recovery gain of $2.30M, which was partially offset by a net loss of $0.20M on the sale of excess equipment and costs of $1.40M related to preparing the Broadway facility for sale or other use. Results for the year ended December 31, 2017, included net gains of $2.70M related to the sale of excess equipment, which was partially offset by severance, relocation and other costs of $2.40M.
Revenue for Sypris Technologies was $15.10M in the fourth quarter contrast with $14.50M for the prior-year period, mainly reflecting a boost in demand from customers in the automotive and commercial vehicle markets that was partially offset by lower energy product sales. Gross profit for the quarter was $2.20M, or 14.3% of revenue, contrast with $1.60M, or 11.3% of revenue, for the same period in 2017. Gross profit benefitted from the increase in volume as well as cost improvements realized following the transfer of production from our Broadway Plant, which was accomplished as of the end of 2017.
Revenue for Sypris Electronics was $8.80M in the fourth quarter of 2018 contrast with $7.00M for the prior-year period. The increase in revenue over the prior-year was mainly because of the launch of a new program starting late in the third quarter of 2018 that ramped up during the fourth quarter. Moreover, certain new smaller programs and the expansion of programs with existing customers offset demand reductions on legacy programs. However, electronic component availability and labor inefficiencies dampened our margins during the period. Gross profit was further affected during the fourth quarter of 2018 by a $0.40M physical inventory adjustment and additional excess and obsolete inventory reserves of $0.50M.
SYPR has the market capitalization of $18.12M and its EPS growth ratio for the past five years was 19.70%. The return on assets ratio of the Company was -6.50% while its return on investment ratio stands at -7.40%. Price to sales ratio was 0.21 while 10.40% of the stock was owned by institutional investors.