LOUISVILLE, KY – Sypris Electronics posted revenue of $8.9 million in the first quarter of 2015 ended Apr. 5, up nearly 6% year-over-year.

This figure reflects the ramp up of a new electronic manufacturing services program, partially offset by declines in engineering services due to the completion of a program during the period, the firm says.

Gross profit for the quarter was $900,000, compared to a loss of $600,000 for the same period last year.

“Sypris Electronics continued its efforts to diversify its portfolio of products and services in response to the challenges posed by the US defense industry,” said Jeffrey T. Gill, president and CEO. “Our team continues to make progress in the development of a Cyber Security Laboratory with our partner NEC Asia Pacific for the Singapore government. While we have not recognized any material revenue under the program, it represents one of the steps toward the achievement of our diversification objectives.

Sypris Solutions’ total revenue was $37 million, down 56% year-over-year.

The firm posted a net loss of more than $13 million for the quarter, compared to net profit of $1.7 million in the first quarter of 2014.

Revenue for Sypris Technologies decreased 63% year-over-year to $28.1 million in the first quarter. The company reported a loss of $4.1 million, compared to profit of $11.2 million for the same period in 2014.

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