Sypris Solutions, Inc. offers outsourced services and specialty products in the United States, Mexico, Denmark, and the United Kingdom. It provides manufacturing, engineering, design, and other technical services under contracts with corporations and government agencies in the industrial manufacturing, and aerospace and defense electronics markets.
Our View: Sypris got oversold in December. The company’s shares traded in the $1.20 to $1.40 range for most of the year before the December sell-off took it down to $1.00
The long term contracts the company got from Detroit Diesel and Volvo in November will ensure revenue continuity after the loss of their largest customer, Dana Holdings. The company also announced in November the negotiation of a new credit facility for $27 million that extents to October of 2018.
SYPR is not profitable but has reduced its net loss from $(13,033,000) in the quarter ended 4-5-15 to just $(274,000) in the quarter ended 10-4-15. Their G&A expenses fell 36% from the beginning of 2015 until October 4, 2015. Cutting G&A in an environment where sales are fairly consistent is a daunting accomplishment.
SYPR has everything lined up to bring them to some quarters of potential profitability.
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