Sypris Solutions (SYPR) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 04, 2020	Nov. 01, 2020
Document Information [Line Items]
Entity Registrant Name	SYPRIS SOLUTIONS INC
Entity Central Index Key	0000864240
Trading Symbol	sypr
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		21,316,752
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Oct. 4, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common Stock

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Net revenue	$ 22,154	$ 22,259	$ 61,732	$ 66,267
Cost of sales	18,733	19,933	52,717	59,092
Gross profit	3,421	2,326	9,015	7,175
Selling, general and administrative	2,577	3,148	8,630	10,206
Severance, relocation and other costs	0	190	124	391
Operating income (loss)	844	(1,012)	261	(3,422)
Interest expense, net	216	227	636	676
Other expense (income), net	372	286	(114)	(1,156)
Income (loss) before taxes	256	(1,525)	(261)	(2,942)
Income tax (benefit) expense, net	(3,239)	32	(3,103)	148
Net income (loss)	$ 3,495	$ (1,557)	$ 2,842	$ (3,090)
Income (loss) per share:
Basic (in dollars per share)	$ 0.17	$ (0.07)	$ 0.14	$ (0.15)
Diluted (in dollars per share)	$ 0.17	$ (0.07)	$ 0.14	$ (0.15)
Weighted average shares outstanding:
Basic (in shares)	21,064	20,941	21,026	20,829
Diluted (in shares)	21,080	20,941	21,026	20,829
Dividends declared per common share (in dollars per share)	$ 0	$ 0	$ 0	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Net income (loss)	$ 3,495	$ (1,557)	$ 2,842	$ (3,090)
Other comprehensive income (loss)
Foreign currency translation adjustments	108	(238)	(1,373)	(26)
Comprehensive income (loss)	$ 3,603	$ (1,795)	$ 1,469	$ (3,116)

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Oct. 04, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 8,294,000	$ 5,095,000
Accounts receivable, net	8,603,000	7,444,000
Inventory, net	17,844,000	20,784,000
Other current assets	4,766,000	4,282,000
Assets held for sale	1,069,000	2,233,000
Total current assets	40,576,000	39,838,000
Property, plant and equipment, net	9,727,000	11,675,000
Operating lease right-of-use assets	6,315,000	7,014,000
Other assets	4,760,000	1,529,000
Total assets	61,378,000	60,056,000
Current liabilities:
Accounts payable	8,202,000	9,346,000
Accrued liabilities	12,583,000	12,495,000
Operating lease liabilities, current portion	942,000	841,000
Finance lease obligations, current portion	383,000	684,000
Note payable – related party, current portion	2,500,000	0
Note payable – PPP Loan, current portion	2,174,000	0
Total current liabilities	26,784,000	23,366,000
Operating lease liabilities, net of current portion	6,189,000	6,906,000
Finance lease obligations, net of current portion	2,029,000	2,351,000
Note payable – related party	3,974,000	6,463,000
Note payable – PPP Loan	1,384,000	0
Other liabilities	5,816,000	7,539,000
Total liabilities	46,176,000	46,625,000
Stockholders’ equity:
Preferred stock	0	0
Common stock	213,000	213,000
Additional paid-in capital	155,004,000	154,702,000
Accumulated deficit	(114,591,000)	(117,433,000)
Accumulated other comprehensive loss	(25,424,000)	(24,051,000)
Treasury stock, 5,038 and 26,192 shares in 2020 and 2019, respectively	0	0
Total stockholders’ equity	15,202,000	13,431,000
Total liabilities and stockholders’ equity	61,378,000	60,056,000
Series A Preferred Stock [Member]
Stockholders’ equity:
Preferred stock	0	0
Nonvoting Common Stock [Member]
Stockholders’ equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Oct. 04, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	975,150	975,150
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	21,321,790	21,324,618
Common stock, shares outstanding (in shares)	21,316,752	21,298,426
Treasury stock (in shares)	5,038	26,192
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	24,850	24,850
Preferred stock, shares issued (in shares)	0	0
Nonvoting Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	0	0

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statements (Unaudited) - USD ($)	9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019
Cash flows from operating activities:
Net income (loss)	$ 2,842,000	$ (3,090,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,883,000	2,106,000
Deferred income taxes	(3,257,000)	0
Stock-based compensation expense	335,000	389,000
Deferred loan costs recognized	11,000	11,000
Net gain on the sale of assets	(813,000)	(467,000)
Provision for excess and obsolete inventory	222,000	503,000
Non-cash lease expense	699,000	541,000
Other noncash items	72,000	15,000
Contributions to pension plans	(34,000)	(348,000)
Changes in operating assets and liabilities:
Accounts receivable	(1,158,000)	1,198,000
Inventory	2,409,000	(2,415,000)
Prepaid expenses and other assets	(983,000)	207,000
Accounts payable	(1,036,000)	(3,344,000)
Accrued and other liabilities	(1,114,000)	1,646,000
Net cash provided by (used in) operating activities	78,000	(3,048,000)
Cash flows from investing activities:
Capital expenditures	(1,151,000)	(553,000)
Proceeds from sale of assets	1,969,000	653,000
Net cash provided by investing activities	818,000	100,000
Cash flows from financing activities:
Principal payments on finance lease obligations	(623,000)	(466,000)
Proceeds from Paycheck Protection Program loan	3,558,000	0
Indirect repurchase of shares of minimum statutory tax withholdings	(33,000)	(138,000)
Net cash provided by (used in) financing activities	2,902,000	(604,000)
Effect of exchange rate changes on cash balances	(599,000)	(99,000)
Net increase (decrease) in cash and cash equivalents	3,199,000	(3,651,000)
Cash and cash equivalents at beginning of period	5,095,000	10,704,000
Cash and cash equivalents at end of period	8,294,000	7,053,000
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for finance lease obligations	$ 0	$ 269,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock Outstanding [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member]	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2018						21,398,182
Balance at Dec. 31, 2018						$ 214	$ 154,388	$ (114,926)	$ (24,842)	$ 0
Net income (loss)						0	0	(3,090)	0	0	$ (3,090)
Foreign currency translation adjustment						$ 0	0	0	(26)	0
Noncash compensation (in shares)						60,000
Noncash compensation						$ 0	389	0	0	0
Retire treasury stock (in shares)						(149,756)
Retire treasury stock						$ 0	(137)	0	0	0
Balance (in shares) at Sep. 29, 2019						21,308,426
Balance at Sep. 29, 2019	$ 0	$ 0	$ 1,442	$ 0	$ 0	$ 214	154,640	(116,574)	(24,868)	0
Balance (in shares) at Jun. 30, 2019						21,329,708
Balance at Jun. 30, 2019						$ 214	154,538	(115,017)	(24,630)	0
Net income (loss)						0	0	(1,557)	0	0	(1,557)
Foreign currency translation adjustment						$ 0	0	0	(238)	0
Noncash compensation (in shares)						0
Noncash compensation						$ 0	106	0	0	0
Retire treasury stock (in shares)						(21,282)
Retire treasury stock						$ 0	(4)	0	0	0
Balance (in shares) at Sep. 29, 2019						21,308,426
Balance at Sep. 29, 2019	$ 0	$ 0	$ 1,442	$ 0	$ 0	$ 214	154,640	(116,574)	(24,868)	0
Balance (in shares) at Dec. 31, 2019						21,298,426
Balance at Dec. 31, 2019						$ 213	154,702	(117,433)	(24,051)	0	13,431
Net income (loss)						0	0	2,842	0	0	2,842
Foreign currency translation adjustment						$ 0	0	0	(1,373)	0
Noncash compensation (in shares)						70,000
Noncash compensation						$ 0	335	0	0	0
Retire treasury stock (in shares)						(62,828)
Retire treasury stock						$ 0	(26)	0	0	0
Exercise of stock options (in shares)						11,154
Exercise of stock options						$ 0	(7)	0	0	0
Balance (in shares) at Oct. 04, 2020						21,316,752
Balance at Oct. 04, 2020						$ 213	155,004	(114,591)	(25,424)	0	15,202
Balance (in shares) at Jul. 05, 2020						21,369,580
Balance at Jul. 05, 2020						$ 213	154,923	(118,086)	(25,532)	0
Net income (loss)						0	0	3,495	0	0	3,495
Foreign currency translation adjustment						$ 0	0	0	108	0
Noncash compensation (in shares)						10,000
Noncash compensation						$ 0	107	0	0	0
Retire treasury stock (in shares)						(62,828)
Retire treasury stock						$ 0	(26)	0	0	0
Balance (in shares) at Oct. 04, 2020						21,316,752
Balance at Oct. 04, 2020						$ 213	$ 155,004	$ (114,591)	$ (25,424)	$ 0	$ 15,202

Note 1 - Nature of Business

Note 1 - Nature of Business	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Nature of Operations [Text Block]	( 1 Nature of Business All references to “Sypris,” the “Company,” “we” or “our” include Sypris Solutions, Inc. and its wholly-owned subsidiaries. Sypris is a diversified provider of truck components, oil and gas pipeline components and aerospace and defense electronics. The Company produces a wide range of manufactured products, often under multi-year, sole-source contracts. The Company offers such products through its two 13

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	( 2 Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Sypris Solutions, Inc. and its wholly-owned subsidiaries and have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the instructions to Form 10 10 X December 31, 2019 not These unaudited consolidated financial statements reflect, in the opinion of management, all material adjustments (which include only normal recurring adjustments) necessary to fairly state the results of operations, financial position and cash flows for the periods presented, and the disclosures herein are adequate to make the information presented not three nine October 4, 2020 not may December 31, 2020. December 31, 2019 10 COVID- 19 In March 2020, 19” 19 19 19 The Company has continued to operate at each location and sought to remain compliant with government regulations imposed due to the COVID- 19 2020 first 19 second second 19 may not We are experiencing disruptions in our business as we implement modifications to preserve adequate liquidity and ensure that our business can continue to operate during this uncertain time. With respect to liquidity, we have evaluated and took actions to reduce costs and spending across our organization. This includes reducing hiring activities, reducing compensation for our Chairman, President and CEO, certain other senior leadership and corporate personnel and our Board of Directors, and limiting discretionary spending. In addition, under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), we have deferred certain payroll taxes into future years. We have also reduced anticipated spending on capital investment projects and are managing working capital to preserve liquidity during this crisis. In addition to these activities, during the second $3,558,000 While we are unable to determine or predict the nature, duration or scope of the overall impact the COVID- 19 may may

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	( 3 Recent Accounting Pronouncements In August 2018, 2018 14, Compensation – Retirement Benefits – Defined Benefit Plans – General, Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans January 1, 2020. no not In August 2018, 2018 15, Intangibles-Goodwill and Other-Internal-Use Software: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract 2018 15 2018 15 January 1, 2020 not In June 2016, 2016 13, Credit Losses – Measurement of Credit Losses on Financial Instruments January 1, 2023, not In December 2019, 2019 12, Income Taxes – Simplifying the Accounting for Income Taxes January 1, 2021

Note 4 - Leases

Note 4 - Leases	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	( 4 ) Leases The Company determines if an arrangement is a lease at its inception. The Company has entered into operating leases for real estate. These leases have initial terms which range from 10 11 one 5 not not Some leases may one These operating leases are included in “Operating lease right-of-use assets” on the Company's October 4, 2020 October 4, 2020, $6,315,000 $7,131,000, December 31, 2019, $7,014,000 $7,747,000, We primarily use our incremental borrowing rate, which is updated quarterly, based on the information available at commencement date, in determining the present value of lease payments. If readily available, we would use the implicit rate in a new lease to determine the present value of lease payments. The Company has certain contracts for real estate which may The Company has entered into various short-term operating leases, primarily for office equipment with an initial term of twelve not not three nine October 4, 2020 September 29, 2019. The following table presents information related to lease expense for the three nine October 4, 2020 September 29, 2019 ( Three Months Ended Nine Months Ended October 4, September 29, October 4, September 29, 2020 2019 2020 2019 (Unaudited) (Unaudited) Finance lease expense: Amortization expense $ 112 $ 123 $ 340 $ 356 Interest expense 71 85 220 266 Operating lease expense 351 351 1,053 1,053 Variable lease expense 77 65 239 208 Total lease expense $ 611 $ 624 $ 1,852 $ 1,883 The following table presents supplemental cash flow information related to leases (in thousands): Nine Months Ended October 4, September 29, 2020 2019 (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 989 $ 1,074 Operating cash flows from finance leases 220 266 Financing cash flows from finance leases 623 466 The annual future minimum lease payments as of October 4, 2020 Operating Finance Leases Leases Next 12 months $ 1,472 $ 612 12 to 24 months 1,488 612 24 to 36 months 1,505 612 36 to 48 months 1,391 575 48 to 60 months 1,226 549 Thereafter 2,008 183 Total lease payments 9,090 3,143 Less imputed interest (1,959 ) (731 ) Total $ 7,131 $ 2,412 The following table presents certain information related to lease terms and discount rates for leases as of October 4, 2020: Operating Finance Leases Leases Weighted-average remaining lease term (years) 6.4 5.1 Weighted-average discount rate (percentage) 8.0 10.2

Note 5 - Revenue from Contracts

Note 5 - Revenue from Contracts with Customers	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 5 ) Revenue from Contracts with Customers The Company recognizes revenue when it satisfies a performance obligation by transferring control of a promised product or rendering a service to a customer. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for the product or service (the “transaction price”). The Company's transaction price in its contracts with customers is generally fixed; no not not A performance obligation is a promise in a contract to transfer a distinct product or render a service to a customer and is the unit of account to which the transaction price is allocated under ASC 606. For contracts where Sypris Electronics serves as a contractor for aerospace and defense companies under federally funded programs, we generally recognize revenue over time as we perform because of continuous transfer of control to the customer. This continuous transfer of control to the customer is supported by clauses in the contracts that allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. Because control is transferred over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We use labor hours incurred as a measure of progress for these contracts because it best depicts the Company's performance of the obligation to the customer, which occurs as we incur labor on our contracts. Under this measure of progress, the extent of progress towards completion is measured based on the ratio of labor hours incurred to date to the total estimated labor hours at completion of the performance obligation. Our contract profit margins may not Many of Sypris Electronics' contractual arrangements with customers are for one one $35,767,000 October 4, 2020, 19% fourth 2020, 55% 2021 2022. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three nine October 4, 2020 September 29, 2019: Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 20 19 20 20 201 9 (Unaudited) (Unaudited) Sypris Technologies – transferred point in time $ 12,072 $ 15,654 $ 33,234 $ 48,673 Sypris Electronics – transferred point in time 1,590 1,388 5,835 3,847 Sypris Electronics – transferred over time 8,492 5,217 22,663 13,747 $ 22,154 $ 22,259 $ 61,732 $ 66,267 Contract Balances Differences in the timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and deferred revenue, customer deposits and billings in excess of revenue recognized (contract liabilities) on the consolidated balance sheets. Contract assets October 4, 2020 December 31, 2019 $1,739,000 $906,000, Contract liabilities October 4, 2020, $5,681,000, December 31, 2019, $7,504,000, $5,769,000 $1,735,000 not The Company recognized revenue from contract liabilities of $2,837,000 $6,680,000 three nine October 4, 2020, $2,408,000 $5,035,000 three nine September 29, 2019, Practical expedients and exemptions Sales commissions are expensed when incurred because the amortization period would have been one We do not one

Note 6 - Exit and Disposal Acti

Note 6 - Exit and Disposal Activities	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	( 6 ) Exit and Disposal Activities On February 21, 2017, 2017. April 13, 2020, $1,700,000 $807,000. As a result of these initiatives, the Company recorded charges of $124,000, $0.01 $391,000, $0.01 first nine 2020 2019, first nine 2020 2019 The following assets have been segregated and included in assets held for sale in the consolidated balance sheets (in thousands): October 4, December 31, 2020 2019 (Unaudited) Property, plant and equipment $ 8,346 $ 13,346 Accumulated depreciation (7,277 ) (11,113 ) Property, plant and equipment, net $ 1,069 $ 2,233

Note 7 - Other Expense (Income)

Note 7 - Other Expense (Income), Net	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	( 7 ) Other Expense (Income), Net The Company completed the sale of the Broadway Plant real estate for $1,700,000 $268,000 $813,000 nine October 4, 2020, $603,000 $73,000 nine October 4, 2020. During the nine September 29, 2019, $1,500,000 one two $1,500,000 three September 29, 2019. $467,000 nine September 29, 2019 $743,000.

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 8 ) Stock-Based Compensation During the nine October 4, 2020, 930,000 five third not three nine October 4, 2020.

Note 9 - Income (Loss) Per Comm

Note 9 - Income (Loss) Per Common Share	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	( 9 ) Income (L oss ) Per Common Share The Company computes earnings per share using the two Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were 2,489,250 2,754,750 three nine October 4, 2020, three nine September 29, 2019, not A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted loss per common share is as follows (in thousands): Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 2 0 20 201 9 2 0 20 201 9 (Unaudited) (Unaudited) Income (loss) attributable to stockholders: Net income (loss) as reported $ 3,495 $ (1,557 ) $ 2,842 $ (3,090 ) Less distributed and undistributed earnings allocable to restricted award holders (15 ) 0 (12 ) 0 Less dividends declared attributable to restricted award holders 0 0 0 0 Net income (loss) allocable to common stockholders $ 3,480 $ (1,557 ) $ 2,830 $ (3,090 ) Income (loss) per common share attributable to stockholders: Basic $ 0.17 $ (0.07 ) $ 0.14 $ (0.15 ) Diluted $ 0.17 $ (0.07 ) $ 0.14 $ (0.15 ) Weighted average shares outstanding – basic 21,064 20,941 21,026 20,829 Weighted average additional shares assuming conversion of potential common shares 16 0 0 0 Weighted average shares outstanding – diluted 21,080 20,941 21,026 20,829

Note 10 - Inventory

Note 10 - Inventory	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 1 0 ) Inventory Inventory consists of the following (in thousands): October 4, December 31, 2020 2019 (Unaudited) Raw materials $ 11,644 $ 15,139 Work in process 6,875 5,889 Finished goods 1,272 1,675 Reserve for excess and obsolete inventory (1,947 ) (1,919 ) Total $ 17,844 $ 20,784

Note 11 - Property, Plant and E

Note 11 - Property, Plant and Equipment	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 1 1 ) Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands): October 4, December 31, 2020 2019 (Unaudited) Land and land improvements $ 43 $ 50 Buildings and building improvements 7,398 8,108 Machinery, equipment, furniture and fixtures 53,076 55,520 Construction in progress 438 371 60,955 64,049 Accumulated depreciation (51,228 ) (52,374 ) $ 9,727 $ 11,675

Note 12 - Debt

Note 12 - Debt	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	( 1 2 ) Debt Debt outstanding consists of the following (in thousands): October 4, December 31, 2020 2019 (Unaudited) Current: Finance lease obligation, current portion $ 383 $ 684 PPP Loan, current portion 2,174 0 Note payable – related party, current portion 2,500 0 Current portion of long term debt $ 5,057 $ 684 Long Term: Finance lease obligation $ 2,029 $ 2,351 PPP Loan 1,384 0 Note payable – related party 4,000 6,500 Less unamortized debt issuance and modification costs (26 ) (37 ) Long term debt net of unamortized debt costs $ 7,387 $ 8,814 Pay check Protection Program During the second 2020, $3,558,000 $3,558,000 1.00%, first six 18 November 2020 April 2022, 2020 five may The PPP Loan is unsecured and guaranteed by the U.S. Small Business Administration (the “SBA”). The Company may may 24 no Note Payable – Related Party The Company has received the benefit of cash infusions from Gill Family Capital Management, Inc. (“GFCM”) in the form of secured promissory note obligations totaling $6,500,000 October 4, 2020 December 31, 2019. one 8.0% March 31, 2019 April 1 st 8.0% 500 five 90 $2,500,000 April 1, 2021, $2,000,000 April 1, 2023, April 1, 2025. 18 60% April 2021 2023. first 2020, April 6, 2020. Obligations under the promissory note are guaranteed by all of the subsidiaries and are secured by a first Finance Lease Obligations On March 9, 2016, 24 215,000,000 $12,182,000 ten nine $2,219,000 October 4, 2020. In February 2019, 60 $269,000 October 4, 2020 $193,000.

Note 13 - Segment Data

Note 13 - Segment Data	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 1 3 ) Segment Data The Company is organized into two no The Company includes the unallocated costs of its corporate office, including the employment costs of its senior management team and other corporate personnel, administrative costs and net corporate interest expense incurred at the corporate level under the caption “General, corporate and other” in the table below. Such unallocated costs include those for centralized information technology, finance, legal and human resources support teams, certain professional fees, director fees, corporate office rent, certain self-insurance costs and recoveries, software license fees and various other administrative expenses that are not not The following table presents financial information for the reportable segments of the Company (in thousands): Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 201 9 20 20 201 9 (Unaudited) (Unaudited) Net revenue from unaffiliated customers: Sypris Technologies $ 12,072 $ 15,654 $ 33,234 $ 48,673 Sypris Electronics 10,082 6,605 28,498 17,594 $ 22,154 $ 22,259 $ 61,732 $ 66,267 Gross profit (loss): Sypris Technologies $ 1,907 $ 2,514 $ 4,629 $ 7,781 Sypris Electronics 1,514 (188 ) 4,386 (606 ) $ 3,421 $ 2,326 $ 9,015 $ 7,175 Operating income (loss): Sypris Technologies $ 873 $ 958 $ 1,181 $ 3,554 Sypris Electronics 808 (886 ) 2,249 (2,943 ) General, corporate and other (837 ) (1,084 ) 3,169 (4,033 ) $ 844 $ (1,012 ) $ 261 $ (3,422 ) Income (loss) before taxes: Sypris Technologies $ 437 $ 589 $ 1,104 $ 2,902 Sypris Electronics 801 (900 ) 2,225 (2,963 ) General, corporate and other (982 ) (1,214 ) (3,590 ) (2,881 ) $ 256 $ (1,525 ) $ (261 ) $ (2,942 ) October 4, December 31, 2020 2019 (Unaudited) Total assets: Sypris Technologies $ 30,400 $ 29,694 Sypris Electronics 22,790 24,985 General, corporate and other 8,188 5,377 $ 61,378 $ 60,056 Total liabilities: Sypris Technologies $ 20,629 $ 19,989 Sypris Electronics 13,027 17,416 General, corporate and other 12,520 9,220 $ 46,176 $ 46,625

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 1 4 ) Commitments and Contingencies The provision for estimated warranty costs is recorded at the time of sale and periodically adjusted to reflect actual experience. The Company's warranty liability, which is included in accrued liabilities in the accompanying consolidated balance sheets as of October 4, 2020 December 31, 2019 $642,000 $569,000, three nine October 4, 2020 September 29, 2019 not The Company bears insurance risk as a member of a group captive insurance entity for certain general liability, automobile and workers' compensation insurance programs, a self-insured worker's compensation program and a self-insured employee health program. The Company records estimated liabilities for its insurance programs based on information provided by the third not may The Company is involved in certain litigation and contract issues arising in the normal course of business. While the outcome of these matters cannot, at this time, be predicted in light of the uncertainties inherent therein, management does not The Company accounts for loss contingencies in accordance with U.S. GAAP. Estimated loss contingencies are accrued only if the loss is probable and the amount of the loss can be reasonably estimated. With respect to a particular loss contingency, it may no The Company has various current and previously-owned facilities subject to a variety of environmental regulations. The Company has received certain indemnifications from either companies previously owning these facilities or from purchasers of those facilities. As of October 4, 2020 December 31, 2019, no On December 27, 2017, 401 not On February 17, 2017, February 28, 2020. As of October 4, 2020, $10,170,000,

Note 15 - Income Taxes

Note 15 - Income Taxes	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 1 5 ) Income Taxes The provision for income taxes includes federal, state, local and foreign taxes. The Company's effective tax rate varies from period to period due to the proportion of foreign and domestic pre-tax income expected to be generated by the Company. The Company provides for income taxes for its domestic operations at a statutory rate of 21% 2020 2019 30% 2020 2019. The Company recognizes liabilities or assets for the deferred tax consequences of temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements in accordance with ASC 740, 740 740 not not $3,257,000 three nine October 4, 2020. Based on its current forecast, the Company has established a valuation allowance against all U.S. deferred tax assets. Until an appropriate level and characterization of profitability is attained, the Company expects to continue to maintain a valuation allowance on its net deferred tax assets related to future U.S. tax benefits.

Note 16 - Employee Benefit Plan

Note 16 - Employee Benefit Plans	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	( 1 6 ) Employee Benefit Plans Pension expense (benefit) consisted of the following (in thousands): Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 201 9 20 20 201 9 (Unaudited) (Unaudited) Service cost $ 1 $ 1 $ 3 $ 3 Interest cost on projected benefit obligation 271 352 813 1,056 Net amortizations, deferrals and other costs 158 167 474 500 Expected return on plan assets (228 ) (271 ) (684 ) (813 ) Net periodic benefit cost $ 202 $ 249 $ 606 $ 746 The net periodic benefit cost of the defined benefit pension plans incurred during the three nine October 4, 2020 September 29, 2019 Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 20 19 20 20 201 9 (Unaudited) (Unaudited) Service cost: Selling, general and administrative expenses $ 1 $ 1 $ 3 $ 3 Other net periodic benefit costs: Other expense (income), net 201 248 603 743 Total $ 202 $ 249 $ 606 $ 746

Note 17 - Accumulated Other Com

Note 17 - Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	( 1 7 ) Accumulated Other Comprehensive Loss The Company's accumulated other comprehensive loss consists of employee benefit-related adjustments and foreign currency translation adjustments. Accumulated other comprehensive loss consisted of the following (in thousands): October 4, December 31, 2020 2019 (Unaudited) Foreign currency translation adjustments $ (11,996 ) $ (10,623 ) Employee benefit related adjustments – U.S., net of tax (13,544 ) (13,544 ) Employee benefit related adjustments – Mexico, net of tax 116 116 Accumulated other comprehensive loss $ (25,424 ) $ (24,051 )

Note 18 - Fair Value of Financi

Note 18 - Fair Value of Financial Instruments	9 Months Ended
	Oct. 04, 2020
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 1 8 ) Fair Value of Financial Instruments Cash, accounts receivable, accounts payable and accrued liabilities are reflected in the consolidated financial statements at their carrying amount which approximates fair value because of the short-term maturity of those instruments. The carrying amount of debt outstanding at October 4, 2020 2

Note 4 - Leases (Tables)

Note 4 - Leases (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended October 4, September 29, October 4, September 29, 2020 2019 2020 2019 (Unaudited) (Unaudited) Finance lease expense: Amortization expense $ 112 $ 123 $ 340 $ 356 Interest expense 71 85 220 266 Operating lease expense 351 351 1,053 1,053 Variable lease expense 77 65 239 208 Total lease expense $ 611 $ 624 $ 1,852 $ 1,883
Supplemental Cash Flow Information Related to Leases [Table Text Block]	Nine Months Ended October 4, September 29, 2020 2019 (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 989 $ 1,074 Operating cash flows from finance leases 220 266 Financing cash flows from finance leases 623 466
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block]	Operating Finance Leases Leases Next 12 months $ 1,472 $ 612 12 to 24 months 1,488 612 24 to 36 months 1,505 612 36 to 48 months 1,391 575 48 to 60 months 1,226 549 Thereafter 2,008 183 Total lease payments 9,090 3,143 Less imputed interest (1,959 ) (731 ) Total $ 7,131 $ 2,412
Lease Terms and Discount Rates for Leases [Table Text Block]	Operating Finance Leases Leases Weighted-average remaining lease term (years) 6.4 5.1 Weighted-average discount rate (percentage) 8.0 10.2

Note 5 - Revenue from Contrac_2

Note 5 - Revenue from Contracts with Customers (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 20 19 20 20 201 9 (Unaudited) (Unaudited) Sypris Technologies – transferred point in time $ 12,072 $ 15,654 $ 33,234 $ 48,673 Sypris Electronics – transferred point in time 1,590 1,388 5,835 3,847 Sypris Electronics – transferred over time 8,492 5,217 22,663 13,747 $ 22,154 $ 22,259 $ 61,732 $ 66,267

Note 6 - Exit and Disposal Ac_2

Note 6 - Exit and Disposal Activities (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Property, plant and equipment $ 8,346 $ 13,346 Accumulated depreciation (7,277 ) (11,113 ) Property, plant and equipment, net $ 1,069 $ 2,233

Note 9 - Income (Loss) Per Co_2

Note 9 - Income (Loss) Per Common Share (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 2 0 20 201 9 2 0 20 201 9 (Unaudited) (Unaudited) Income (loss) attributable to stockholders: Net income (loss) as reported $ 3,495 $ (1,557 ) $ 2,842 $ (3,090 ) Less distributed and undistributed earnings allocable to restricted award holders (15 ) 0 (12 ) 0 Less dividends declared attributable to restricted award holders 0 0 0 0 Net income (loss) allocable to common stockholders $ 3,480 $ (1,557 ) $ 2,830 $ (3,090 ) Income (loss) per common share attributable to stockholders: Basic $ 0.17 $ (0.07 ) $ 0.14 $ (0.15 ) Diluted $ 0.17 $ (0.07 ) $ 0.14 $ (0.15 ) Weighted average shares outstanding – basic 21,064 20,941 21,026 20,829 Weighted average additional shares assuming conversion of potential common shares 16 0 0 0 Weighted average shares outstanding – diluted 21,080 20,941 21,026 20,829

Note 10 - Inventory (Tables)

Note 10 - Inventory (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Raw materials $ 11,644 $ 15,139 Work in process 6,875 5,889 Finished goods 1,272 1,675 Reserve for excess and obsolete inventory (1,947 ) (1,919 ) Total $ 17,844 $ 20,784

Note 11 - Property, Plant and_2

Note 11 - Property, Plant and Equipment (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Land and land improvements $ 43 $ 50 Buildings and building improvements 7,398 8,108 Machinery, equipment, furniture and fixtures 53,076 55,520 Construction in progress 438 371 60,955 64,049 Accumulated depreciation (51,228 ) (52,374 ) $ 9,727 $ 11,675

Note 12 - Debt (Tables)

Note 12 - Debt (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Current: Finance lease obligation, current portion $ 383 $ 684 PPP Loan, current portion 2,174 0 Note payable – related party, current portion 2,500 0 Current portion of long term debt $ 5,057 $ 684 Long Term: Finance lease obligation $ 2,029 $ 2,351 PPP Loan 1,384 0 Note payable – related party 4,000 6,500 Less unamortized debt issuance and modification costs (26 ) (37 ) Long term debt net of unamortized debt costs $ 7,387 $ 8,814

Note 13 - Segment Data (Tables)

Note 13 - Segment Data (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 201 9 20 20 201 9 (Unaudited) (Unaudited) Net revenue from unaffiliated customers: Sypris Technologies $ 12,072 $ 15,654 $ 33,234 $ 48,673 Sypris Electronics 10,082 6,605 28,498 17,594 $ 22,154 $ 22,259 $ 61,732 $ 66,267 Gross profit (loss): Sypris Technologies $ 1,907 $ 2,514 $ 4,629 $ 7,781 Sypris Electronics 1,514 (188 ) 4,386 (606 ) $ 3,421 $ 2,326 $ 9,015 $ 7,175 Operating income (loss): Sypris Technologies $ 873 $ 958 $ 1,181 $ 3,554 Sypris Electronics 808 (886 ) 2,249 (2,943 ) General, corporate and other (837 ) (1,084 ) 3,169 (4,033 ) $ 844 $ (1,012 ) $ 261 $ (3,422 ) Income (loss) before taxes: Sypris Technologies $ 437 $ 589 $ 1,104 $ 2,902 Sypris Electronics 801 (900 ) 2,225 (2,963 ) General, corporate and other (982 ) (1,214 ) (3,590 ) (2,881 ) $ 256 $ (1,525 ) $ (261 ) $ (2,942 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Total assets: Sypris Technologies $ 30,400 $ 29,694 Sypris Electronics 22,790 24,985 General, corporate and other 8,188 5,377 $ 61,378 $ 60,056 Total liabilities: Sypris Technologies $ 20,629 $ 19,989 Sypris Electronics 13,027 17,416 General, corporate and other 12,520 9,220 $ 46,176 $ 46,625

Note 16 - Employee Benefit Pl_2

Note 16 - Employee Benefit Plans (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 201 9 20 20 201 9 (Unaudited) (Unaudited) Service cost $ 1 $ 1 $ 3 $ 3 Interest cost on projected benefit obligation 271 352 813 1,056 Net amortizations, deferrals and other costs 158 167 474 500 Expected return on plan assets (228 ) (271 ) (684 ) (813 ) Net periodic benefit cost $ 202 $ 249 $ 606 $ 746
Net Periodic Benefit Cost Recognized in Income Statement [Table Text Block]	Three Months Ended Nine Months Ended October 4 , September 29 , October 4 , September 29 , 20 20 20 19 20 20 201 9 (Unaudited) (Unaudited) Service cost: Selling, general and administrative expenses $ 1 $ 1 $ 3 $ 3 Other net periodic benefit costs: Other expense (income), net 201 248 603 743 Total $ 202 $ 249 $ 606 $ 746

Note 17 - Accumulated Other C_2

Note 17 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 04, 2020
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	October 4, December 31, 2020 2019 (Unaudited) Foreign currency translation adjustments $ (11,996 ) $ (10,623 ) Employee benefit related adjustments – U.S., net of tax (13,544 ) (13,544 ) Employee benefit related adjustments – Mexico, net of tax 116 116 Accumulated other comprehensive loss $ (25,424 ) $ (24,051 )

Note 1 - Nature of Business (De

Note 1 - Nature of Business (Details Textual)	9 Months Ended
	Oct. 04, 2020
Number of Operating Segments	2

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Jul. 05, 2020	Oct. 04, 2020	Sep. 29, 2019
Proceeds from Notes Payable, Total		$ 3,558,000	$ 0
Paycheck Protection Program CARES Act [Member]
Proceeds from Notes Payable, Total	$ 3,558,000

Note 4 - Leases (Details Textua

Note 4 - Leases (Details Textual) - USD ($)	Oct. 04, 2020	Dec. 31, 2019
Lessee, Operating Lease, Renewal Term (Year)	5 years
Operating Lease, Right-of-Use Asset	$ 6,315,000	$ 7,014,000
Operating Lease, Liability, Total	$ 7,131,000	$ 7,747,000
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	10 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	11 years

Note 4 - Leases - Lease Expense

Note 4 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Amortization expense	$ 112	$ 123	$ 340	$ 356
Interest expense	71	85	220	266
Operating lease expense	351	351	1,053	1,053
Variable lease expense	77	65	239	208
Total lease expense	$ 611	$ 624	$ 1,852	$ 1,883

Note 4 - Leases - Supplemental

Note 4 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019
Operating cash flows from operating leases	$ 989	$ 1,074
Operating cash flows from finance leases	220	266
Financing cash flows from finance leases	$ 623	$ 466

Note 4 - Leases - Maturities of

Note 4 - Leases - Maturities of Lease Liabilities (Details) - USD ($)	Oct. 04, 2020	Dec. 31, 2019
Next 12 months, Operating Leases	$ 1,472,000
Next 12 months, Finance Leases	612,000
12 to 24 months, Operating Leases	1,488,000
12 to 24 months, Finance Leases	612,000
24 to 36 months, Operating Leases	1,505,000
24 to 36 months, Finance Leases	612,000
36 to 48 months, Operating Leases	1,391,000
36 to 48 months, Finance Leases	575,000
48 to 60 months, Operating Leases	1,226,000
48 to 60 months, Finance Leases	549,000
Thereafter, Operating Leases	2,008,000
Thereafter, Finance Leases	183,000
Total lease payments, Operating Leases	9,090,000
Total lease payments, Finance Leases	3,143,000
Less imputed interest, Operating Leases	(1,959,000)
Less imputed interest, Finance Leases	(731,000)
Total, Operating Leases	7,131,000	$ 7,747,000
Total, Finance Leases	$ 2,412,000

Note 4 - Leases - Information R

Note 4 - Leases - Information Related to Lease Terms and Discount Rates (Details)	Oct. 04, 2020
Weighted-average remaining lease term (Year)	6 years 146 days
Weighted-average remaining lease term (Year)	5 years 36 days
Weighted-average discount rate (percentage)	8.00%
Weighted-average discount rate (percentage)	10.20%

Note 5 - Revenue from Contrac_3

Note 5 - Revenue from Contracts with Customers 1 (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Amount	$ 35,767,000		$ 35,767,000
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total	1,739,000		1,739,000
Contract with Customer, Liability, Total	5,681,000		5,681,000		$ 7,504,000
Contract with Customer, Liability, Revenue Recognized	$ 2,837,000	$ 2,408,000	$ 6,680,000	$ 5,035,000
Other Current Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total					906,000
Accrued Liabilities [Member]
Contract with Customer, Liability, Current					5,769,000
Other Noncurrent Liabilities [Member]
Contract with Customer, Liability, Noncurrent					$ 1,735,000

Note 5 - Revenue from Contrac_4

Note 5 - Revenue from Contracts with Customers 2 (Details Textual)	Oct. 04, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-05
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	91 days
Revenue, Remaining Performance Obligation, Percentage	19.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Percentage	55.00%

Note 5 - Revenue from Contrac_5

Note 5 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Net revenue	$ 22,154	$ 22,259	$ 61,732	$ 66,267
Sypris Technologies [Member]
Net revenue	12,072	15,654	33,234	48,673
Sypris Technologies [Member] | Transferred at Point in Time [Member]
Net revenue	12,072	15,654	33,234	48,673
Sypris Electronics [Member]
Net revenue	10,082	6,605	28,498	17,594
Sypris Electronics [Member] | Transferred at Point in Time [Member]
Net revenue	1,590	1,388	5,835	3,847
Sypris Electronics [Member] | Transferred over Time [Member]
Net revenue	$ 8,492	$ 5,217	$ 22,663	$ 13,747

Note 6 - Exit and Disposal Ac_3

Note 6 - Exit and Disposal Activities (Details Textual) - Transition of Production from the Broadway Plant [Member] - USD ($)	Apr. 13, 2020	Oct. 04, 2020	Sep. 29, 2019
Proceeds from Sale of Real Estate, Total	$ 1,700,000
Gain (Loss) on Disposition of Property Plant Equipment, Total	$ 807,000
Restructuring and Related Costs, Incurred Cost, Total		$ 124,000	$ 391,000
Restructuring and Related Cost, Incurred Cost, Per Share (in dollars per share)		$ 0.01	$ 0.01

Note 6 - Exit and Disposal Ac_4

Note 6 - Exit and Disposal Activities - Segregation of Assets Held for Sale (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Property, plant and equipment	$ 8,346	$ 13,346
Accumulated depreciation	(7,277)	(11,113)
Property, plant and equipment, net	$ 1,069	$ 2,233

Note 7 - Other Expense (Incom_2

Note 7 - Other Expense (Income), Net (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 1,969,000	$ 653,000
Proceeds from Sale of Other Property, Plant, and Equipment			268,000
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property			813,000	467,000
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ 201,000	$ 248,000	603,000	743,000
Foreign Currency Transaction Gain (Loss), before Tax, Total			73,000
Gain Related to Settlement Agreement				$ 1,500,000
Loss Contingency, Receivable, Proceeds		$ 1,500,000
Broadway Plant [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 1,700,000

Note 8 - Stock-based Compensa_2

Note 8 - Stock-based Compensation (Details Textual)	9 Months Ended
	Oct. 04, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	930,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years

Note 9 - Income (Loss) Per Co_3

Note 9 - Income (Loss) Per Common Share (Details Textual) - shares	3 Months Ended	9 Months Ended
	Oct. 04, 2020	Oct. 04, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	2,489,250	2,754,750

Note 9 - Income (Loss) Per Co_4

Note 9 - Income (Loss) Per Common Share - Reconciliation of Weighted Average Shares Outstanding Used in Calculation of Basic and Diluted (Loss) Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Net income (loss)	$ 3,495	$ (1,557)	$ 2,842	$ (3,090)
Less distributed and undistributed earnings allocable to restricted award holders	(15)	0	(12)	0
Less dividends declared attributable to restricted award holders	0	0	0	0
Net income (loss) allocable to common stockholders	$ 3,480	$ (1,557)	$ 2,830	$ (3,090)
Basic (in dollars per share)	$ 0.17	$ (0.07)	$ 0.14	$ (0.15)
Diluted (in dollars per share)	$ 0.17	$ (0.07)	$ 0.14	$ (0.15)
Basic (in shares)	21,064	20,941	21,026	20,829
Weighted average additional shares assuming conversion of potential common shares (in shares)	16	0	0	0
Weighted average shares outstanding – diluted (in shares)	21,080	20,941	21,026	20,829

Note 10 - Inventory - Inventory

Note 10 - Inventory - Inventory Components (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Raw materials	$ 11,644	$ 15,139
Work in process	6,875	5,889
Finished goods	1,272	1,675
Reserve for excess and obsolete inventory	(1,947)	(1,919)
Total	$ 17,844	$ 20,784

Note 11 - Property, Plant and_3

Note 11 - Property, Plant and Equipment - Property, Plant and Equipment Components (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Gross property, plant and equipment	$ 60,955	$ 64,049
Accumulated depreciation	(51,228)	(52,374)
Property plant and equipment net	9,727	11,675
Land and Land Improvements [Member]
Gross property, plant and equipment	43	50
Building and Building Improvements [Member]
Gross property, plant and equipment	7,398	8,108
Property, Plant and Equipment, Other Types [Member]
Gross property, plant and equipment	53,076	55,520
Construction in Progress [Member]
Gross property, plant and equipment	$ 438	$ 371

Note 12 - Debt (Details Textual

Note 12 - Debt (Details Textual)	Apr. 01, 2019	Mar. 09, 2016USD ($)a	Mar. 09, 2016MXN ($)a	Jul. 05, 2020USD ($)	Oct. 04, 2020USD ($)	Sep. 29, 2019USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019	Feb. 28, 2019USD ($)
Proceeds from Notes Payable, Total					$ 3,558,000	$ 0
Proceeds from Sale of Property, Plant, and Equipment, Total					1,969,000	$ 653,000
Finance Lease, Liability, Total					2,412,000
Machinery at Sypris Technologies Facility [Member]
Lessee, Finance Lease, Term of Contract (Year)									5 years
Finance Lease, Liability, Total					193,000				$ 269,000
Toluca Property [Member]
Area of Land (Acre) | a		24	24
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 12,182,000	$ 215,000,000
Lessee, Finance Lease, Term of Contract (Year)		10 years	10 years
Sale Leaseback Transaction, Portion of Real Estate Property Leased Back to Seller (Acre) | a		9	9
Finance Lease, Liability, Total					2,219,000
Paycheck Protection Program CARES Act [Member]
Proceeds from Notes Payable, Total				$ 3,558,000
Notes Payable, Total				$ 3,558,000
Promissory Notes with Maturity on April 1, 2021 and April 1, 2023 [Member] | Gill Family Capital Management [Member]
Subordinated Debt, Ending Balance					$ 6,500,000
Debt Instrument, Interest Rate, Stated Percentage								8.00%
Debt Instrument, Allowance for Payment Deferral Period (Month)					1 year 180 days
Debt Instrument, Maximum Allowance of Interest Due on Deferred Payments, Percent					60.00%
Promissory Note [Member] | Gill Family Capital Management [Member]
Subordinated Debt, Ending Balance							$ 6,500,000
Promissory Note [Member] | Gill Family Capital Management [Member] | Five-year Treasury Note Average During Preceding 90-day Period [Member]
Debt Instrument, Basis Spread on Variable Rate	5.00%
Promissory Note with Maturity on April 1, 2021 [Member] | Gill Family Capital Management [Member]
Subordinated Debt, Ending Balance					$ 2,500,000
Promissory Note with Maturity on April 1, 2023 [Member] | Gill Family Capital Management [Member]
Subordinated Debt, Ending Balance					$ 2,000,000

Note 12 - Debt - Debt Component

Note 12 - Debt - Debt Components (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Finance lease obligations, current portion	$ 383	$ 684
PPP Loan, current portion	2,174	0
Note payable – related party, current portion	2,500	0
Current portion of long term debt	5,057	684
Finance lease obligation	2,029	2,351
PPP Loan	1,384	0
Note payable – related party	4,000	6,500
Less unamortized debt issuance and modification costs	(26)	(37)
Long term debt net of unamortized debt costs	$ 7,387	$ 8,814

Note 13 - Segment Data (Details

Note 13 - Segment Data (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020USD ($)	Sep. 29, 2019USD ($)	Oct. 04, 2020USD ($)	Sep. 29, 2019USD ($)
Number of Operating Segments			2
Revenue from Contract with Customer, Including Assessed Tax	$ 22,154	$ 22,259	$ 61,732	$ 66,267
Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 0	$ 0	$ 0

Note 13 - Segment Data - Financ

Note 13 - Segment Data - Financial Information From Reportable Segments - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Net revenue from unaffiliated customers	$ 22,154	$ 22,259	$ 61,732	$ 66,267
Gross profit (loss)	3,421	2,326	9,015	7,175
Operating income (loss)	844	(1,012)	261	(3,422)
Income (loss) before taxes	256	(1,525)	(261)	(2,942)
Sypris Technologies [Member]
Net revenue from unaffiliated customers	12,072	15,654	33,234	48,673
Gross profit (loss)	1,907	2,514	4,629	7,781
Operating income (loss)	873	958	1,181	3,554
Income (loss) before taxes	437	589	1,104	2,902
Sypris Electronics [Member]
Net revenue from unaffiliated customers	10,082	6,605	28,498	17,594
Gross profit (loss)	1,514	(188)	4,386	(606)
Operating income (loss)	808	(886)	2,249	(2,943)
Income (loss) before taxes	801	(900)	2,225	(2,963)
Corporate and Other [Member]
Operating income (loss)	(837)	(1,084)	3,169	(4,033)
Income (loss) before taxes	$ (982)	$ (1,214)	$ (3,590)	$ (2,881)

Note 13 - Segment Data - Fina_2

Note 13 - Segment Data - Financial Information From Reportable Segments - Balance Sheet (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Total assets	$ 61,378	$ 60,056
Total liabilities	46,176	46,625
Sypris Technologies [Member]
Total assets	30,400	29,694
Total liabilities	20,629	19,989
Sypris Electronics [Member]
Total assets	22,790	24,985
Total liabilities	13,027	17,416
Corporate and Other [Member]
Total assets	8,188	5,377
Total liabilities	$ 12,520	$ 9,220

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) - USD ($)	Oct. 04, 2020	Dec. 31, 2019
Standard and Extended Product Warranty Accrual, Ending Balance	$ 642,000	$ 569,000
Accrual for Environmental Loss Contingencies, Ending Balance	0	$ 0
Purchase Obligation, Total	$ 10,170,000

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	21.00%
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent			30.00%	30.00%
Income Tax Expense (Benefit), Total	$ (3,239,000)	$ 32,000	$ (3,103,000)	$ 148,000
Foreign Tax Authority [Member] | Mexican Tax Authority [Member]
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ (3,257,000)
Income Tax Expense (Benefit), Total			$ (3,257,000)

Note 16 - Employee Benefit Pl_3

Note 16 - Employee Benefit Plans - Components of Pension Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Service cost	$ 1	$ 1	$ 3	$ 3
Interest cost on projected benefit obligation	271	352	813	1,056
Net amortizations, deferrals and other costs	158	167	474	500
Expected return on plan assets	(228)	(271)	(684)	(813)
Net periodic benefit cost	$ 202	$ 249	$ 606	$ 746

Note 16 - Employee Benefit Pl_4

Note 16 - Employee Benefit Plans - Net Periodic Benefit Cost Recognized in Consolidated Statements of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2020	Sep. 29, 2019	Oct. 04, 2020	Sep. 29, 2019
Selling, general and administrative expenses	$ 1,000	$ 1,000	$ 3,000	$ 3,000
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	201,000	248,000	603,000	743,000
Total	202,000	249,000	606,000	746,000
Selling, General and Administrative Expenses [Member]
Selling, general and administrative expenses	$ 1,000	$ 1,000	$ 3,000	$ 3,000

Note 17 - Accumulated Other C_3

Note 17 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Oct. 04, 2020	Dec. 31, 2019
Foreign currency translation adjustments	$ (11,996)	$ (10,623)
Accumulated other comprehensive loss	(25,424)	(24,051)
UNITED STATES
Employee benefit related adjustments, net of tax	(13,544)	(13,544)
Foreign Plan [Member]
Employee benefit related adjustments, net of tax	$ 116	$ 116