LOUISVILLE, Jan. 11 -- Sypris Solutions Inc. today bottomed its outlook for the fourth quarter, citing cost overruns and higher training costs.

The company expects to report a fourth-quarter loss of $0.07 to $0.10 per diluted share, compared to prior guidance for earnings of $0.17 to $0.20.

Expected revenue is $121 million to $123 million, which is consistent with prior guidance of $120 to $124 million.

"In many respects, we paid the price for this year's rapid growth during the fourth quarter," said Jeffrey T. Gill, president and chief executive, in a statement. "We experienced inefficiencies associated with rapidly changing demand and continued steel shortages, cost overruns for the installation of new manufacturing cells, increased costs for training people for new programs and additional charges to reflect the growing nature and complexity of the business, among others."

Gill said that while the company has resolved the "vast majority" of its issues, some further short-term expenses are expedted.

A series of programs coming online during the first half are forecast to increase revenues by $50 million to $60 million annually.

The company left its revenue outlook unchanged, with 2005 sales forecast to be up 20% to $500 million to $520 million. It cut earnings to $0.75 to $0.95 per diluted share, versus prior guidance of $1.00 to $1.10.

Sypris is a contract manufacturer of aerospace and defense electronics.