SYPRIS SOLUTIONS INC
For the period ended Aug 13, 2024. Filed Aug 13, 2024.
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Aug 13, 2024 · Filed Aug 13, 2024
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Contents
EX-99 · (in thousands, except for share data)
(in thousands, except for share data)
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (Unaudited) | (Note) | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $13,760 | $7,881 |
| Accounts receivable, net | 11,510 | 8,929 |
| Inventory, net | 64,843 | 77,314 |
| Other current assets | 10,191 | 9,743 |
| Total current assets | 100,304 | 103,867 |
| Property, plant and equipment, net | 15,107 | 17,133 |
| Operating lease right-of-use assets | 4,300 | 3,309 |
| Other assets | 4,534 | 5,033 |
| Total assets | $124,245 | $129,342 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $22,519 | $26,737 |
| Accrued liabilities | 50,410 | 56,232 |
| Operating lease liabilities, current portion | 1,133 | 1,068 |
| Finance lease obligations, current portion | 1,447 | 1,327 |
| Equipment financing obligations, current portion | 564 | 618 |
| Working capital line of credit | 500 | 500 |
| Note payable - related party, current portion | 2,000 | - |
| Total current liabilities | 78,573 | 86,482 |
| Operating lease liabilities, net of current portion | 3,573 | 2,642 |
| Finance lease obligations, net of current portion | 1,502 | 1,852 |
| Equipment financing obligations, net of current portion | 1,068 | 1,333 |
| Note payable - related party, net of current portion | 6,982 | 6,484 |
| Other liabilities | 13,527 | 8,082 |
| Total liabilities | 105,225 | 106,875 |
| Stockholders’ equity: | ||
| Preferred stock, par value $0.01 per share, 975,150 shares authorized; no shares issued | - | - |
| Series A preferred stock, par value $0.01 per share, 24,850 shares authorized; no shares issued | - | - |
| Common stock, non-voting, par value $0.01 per share, 10,000,000 shares authorized; no shares issued | - | - |
| Common stock, par value $0.01 per share, 30,000,000 shares authorized; 23,067,984 shares issued and 23,024,128 outstanding in 2024 and 22,465,485 shares issued and 22,459,649 outstanding in 2023 | 230 | 224 |
| Additional paid-in capital | 156,675 | 156,242 |
| Accumulated deficit | (119,137) | (116,932) |
| Accumulated other comprehensive loss | (18,748) | (17,067) |
| Treasury stock, 43,856 in 2024 and 5,835 in 2023 | - | - |
| Total stockholders’ equity | 19,020 | 22,467 |
| Total liabilities and stockholders’ equity | $124,245 | $129,342 |
Note: The balance sheet at December 31, 2023, has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.