The company confirmed its financial guidance for the second half of 2018, with revenue forecasted to be in the range of $47M-$51M, representing top-line growth of 14% at the midpoint on a year-over-year basis, and gross profit forecasted to be in the range of 16%-18% of revenue. The company said "We expect selling, general and administrative spending to be in the range of 12.0%-13.5% of revenue for the second half of 2018, subject to actual top-line performance. The net result is that we expect to be profitable on a consolidated basis for the full year 2018."
Reports Q2 revenue $23M, one estimate $23.05M. The company's revenue increased 15.2% sequentially from the first quarter of 2018, while gross margin increased to 12.8% of revenue, up 260 basis points sequentially and up 520 basis points from the second quarter of 2017.
Sypris Electronics, LLC, a subsidiary of Sypris Solutions (SYPR), announced that it has recently received multiple contract awards from Harris Corporation (HRS) to manufacture a variety of mission-critical electronic assemblies for a number of Government programs. Terms of the agreements were not disclosed. The awards from Harris include the production of a variety of electronic assemblies for multiple munition dispensing systems. Awards included systems for the US Navy as well as multiple foreign military programs. Production will begin in 2018.
Sypris Electronics, LLC, a subsidiary of Sypris Solutions, announced that it has recently received contract awards to manufacture a variety of mission-critical electronic assemblies for a number of global undersea communication projects. The name of the customer and the terms of the agreements were not disclosed. The awards are for the production of a variety of electronic assemblies used in undersea cable transmitters. These transmitters deploy advanced reconfigurable optical add-drop multiplexing technology, which is essential for the optimization and efficiency of today's high-capacity, transoceanic cable systems. Production will begin in 2018.