LOUISVILLE -- Sypris Solutions today reported sales rose 9% year-on-year to $132.1 million for its fourth quarter. The net loss was $300,000, up from a loss of $800,000 a year ago.

For the year, Sypris reported revenue rose 23% to a record $522.8 million compared to $425.4 million for the prior year. Net income for the year was $5.3 million, down from compared to $8.3 million.
For the quarter, cash flow from operations was $24.5 million while Net orders for the quarter reached $132.1 million.  For the year, Sypris generated $72.6 million in cash and a record $525.2 million in bookings, driven by orders for products from its Industrial Group. Backlogs were $252.3 million, near record levels.

In a statement, president and chief executive Jeffrey T. Gill said, "Although volume softened during the period, we were able to finish at the higher end of our earnings guidance for the quarter. The outlook for our markets in general remains positive."

Electronics Group orders and revenue in fourth quarter were lower than anticipated as customer delays pushed out requirements. Second-half orders increased 18% over the prior year period and revenue rose 6%. Orders were $26.4 million for fourth quarter and backlog was $101.9 million. Revenue fell 2% to $45.4 million in fourth quarter versus the prior year and sequentially. Gross profit for the quarter increased 42% to $8.9 million compared to $6.3 million for the same period in 2004.

Gill guided for first quarter revenue -- traditionally the company's lowest period -- of $130 million to $135 million , up from $124.2 million in the first quarter of 2005. For the year, the company's outlook remains unchanged at $555 million to $565 million.

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