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BRIEF-Sypris reports Q1 loss per share of $0.16
2017年5月16日 / 中午11点49分 / 6 个月前

BRIEF-Sypris reports Q1 loss per share of $0.16

May 16 (Reuters) - Sypris Solutions Inc

* Sypris reports first quarter results

* Q1 loss per share $0.16

* Q1 revenue $18.2 million versus $26.9 million

* Sypris Solutions Inc says company affirmed key financial guidance with gross margin forecasted to be 5-7% of revenue for first half of 2017

* Sypris Solutions Inc - Broadway transition plan is now expected to be completed by end of May 2017

* Sypris Solutions Inc - Company remains on track through Q1 of 2017 with all cost reduction goals.

* Sypris Solutions Inc says outlook improves to 15 percent-17 percent of revenue for second half of year

* Sypris Solutions Inc - expects margins to reach 15-17% of revenue for second half of 2017

* Sypris Solutions Inc - expect revenue from new programs of $12.5 million for 2018 and $12.9 million for 2019

* Sypris Solutions - have implemented a two-year plan to achieve $26.3 million in total annual cost eliminations which is expected to be realized in 2017

* Sypris Solutions Inc says on target with $18 million 2017 cost reduction goal

* Sypris Solutions Inc sees revenue for first six months of 2017 to be $38-$40 million, revenue for second half of 2017 expected to range from $40-$42 million Source text for Eikon: Further company coverage:

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