Sypris Solutions reports Q3 EPS 3c, one estimate 16c Reports Q3 revenue $78.8M, one estimate $93M. Income from continuing operations included a foreign currency translation loss of $0.6M and a gain of $1.3M in connection with the sale of marketable securities.
Sypris Solutions acquires assets of Reynolds Machine for $19M Sypris Technologies Kenton, a wholly-owned subsidiary of Sypris Solutions, entered into an asset purchase agreement with Reynolds Machine to acquire substantially all of the assets and certain of the liabilities of the business for $19M. Reynolds Machine is engaged in the business of manufacturing and selling machined component parts for the commercial vehicle and automotive markets. While targeted to close on June 30, the transaction remains subject to Sypris's due diligence.