LOUISVILLE -- Sypris Solutions Inc., a provider of EMS services, lowered its forecast for the fourth quarter, blaming customer inventories, and delayed shipments and higher-than-expected labor costs.

Sypris today updated its fourth-quarter guidance to breakeven to a loss of 5 cents per share, down from 12 to 15 cents per share. The company forecast sales of $133 million to $135 million, down from previous guidance of $135 million to $140 million for the quarter.

For the full year, Sypris forecast net income of $5.1 million on revenue of $525 million. Sales are forecast to increase 23% but are below what Sypris previously forecast. Last year, Sypris reported earnings of $8.3 million.

Sypris said delayed shipments for a key missile program contributed to the lower guidance.