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Sypris Electronics Posts 19% Growth in Q3 Revenue
November 16, 2017 | Sypris Solutions Inc.Estimated reading time: Less than a minute
Sypris Electronics, the electronics manufacturing services (EMS) arm of Sypris Solutions Inc., has reported revenue of $7.8 million in the third quarter ended October 1, 2017, up by 18.8% compared to the same period last year. Additionally, revenue from the CSS business was included in results of operations in 2016 until the time of sale, since the sale was not classified as a discontinued operation in our consolidated financial statements.
Gross profit for the quarter was $1.3 million compared to a gross loss of $0.2 million for the prior-year period, primarily reflecting a favorable mix in sales of higher-margin products on programs that began ramping in 2017, partially offset by an overall decrease in volumes as a result of the CSS sale.
During the quarter, Sypris Electronics has received multiple contract awards from Harris Corp. to manufacture a variety of mission-critical electronic assemblies for U.S. Military and Space programs.
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