Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today reported financial results for its second quarter ended June 30, 2013.
For the Second Quarter:
- Revenue for the Company increased 5% sequentially to $82.2 million, while gross profit increased 3% to $8.3 million.
- Revenue for the Industrial Group increased 5% sequentially to $74.4 million, while gross profit increased 9% to $8.9 million.
- Revenue for the Electronics Group increased 6% to $7.7 million, while gross profit declined to a loss of $0.5 million.
For the Six Months:
- Revenue for the Company increased 10% sequentially to $160.6 million as compared to the second half of 2012.
- Revenue for the Industrial Group increased 21% sequentially to $145.6 million, while gross profit increased 40% to $17.0 million, compared to the second half of 2012.
- Revenue and gross profit for the Electronics Group declined sequentially to $15.0 million and a loss of $0.6 million, respectively, reflecting the impact of sequestration and other Defense-related spending delays.
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