good and Nick, you, morning, everyone. Thank
of and this call, Davis the financial third I is would to you company's quarter the for welcome to results the review like to Rich XXXX. purpose which of
For presentation to morning, PowerPoint to this you those now. please who of X access our have Slide advance
our given discuss and statements. calls include projections result with may at the will review these of factors begin the These in that this No always and sypris.com are any filings Exchange could definitions measures today can a note that actual projections non-GAAP and a some differ those other during the access here Commission. discussed And company's G, of forward-looking that of may be achieved, website several We Securities call. Regulation materially be with what statements projected compliance assurance to included be we these might factors. with results financial and as in from can you
qualifications with these our of business on of like to financial followed quarter, more provide results X. to then the primary the Slide for highlights markets. will to you we'd in review of for overview morning, will now by for the lead advance Please the this starting presentation the I first an be each update discussion. outlook our Rich our a through of proceed half you an the with detailed mind, period. with With
the with Slide let's overview X. on begin Now
reflecting basis. increased continued Technologies XX.X% our Sypris each that on revenue rising Electronics an Sypris for and are XXX% period, quarter business a XX.X% report XX% revenue of the We across reflecting the profit year-over-year pleased year-over-year, XXX basis Electronics for XX.X% driven XXX of for increased and for Gross and Electronics an by strength for basis segments, with points Sypris rising basis XXX increase by Technologies. points for Sypris followed Gross at margin Sypris at for XXX.X% of the for Sypris points the company Technologies. suit, to increase quarter, by
The on was to basis, period. $X period. end in which we the the notable performance in weight operating for the another million form Sypris important $XXX,XXX quarter, headwinds other financial an from year was of when X% of increased at sales In currency foreign company's prior the period was to following increased X.X% since particularly the standpoint, XX% of compared Backlog the year million it from accomplishment a increase Electronics quarter. during positive $XXX.X bore period. the Backlog words, very the consolidated for prior negative an the up
revenue rapidly accelerate As the to entered full an demand rate we continue point, in where availability conversion mentioned with material. of We ramp of new as we our have production. the backlog believe intersecting we now that rising inflection increasingly pace the previously, is to up of will programs
in pleased sources, Water announced Turning In announce City water. to surrounding areas its Atoka the joints for for specifically, an now during We've awards Technologies. additional award XX-inch contract use new Slide Sypris at X. to more August, several been quarter, insulated Atoka we City and provide built Pipeline the for of potable Oklahoma Utilities Trust. Oklahoma According expansion to the the new the with Water being is to Pipeline second
gallons in X.X is The and day. Central million where transport of Atoka Lake XXX-mile-long than of delivered to that water pipeline state will the $XXX raw The million history from water Oklahoma. to XX-inch project people Lake Draper per Stanley Oklahoma move it slated then more City, project than cost the will pipeline municipal includes is the million more to diameter be and treated largest in new and in infrastructure a water XXX
of Tube polyethylene-coated be rated the Turns-branded agreed pipeline. will inches and has manufacture and and mortar-lined XXXX. to These diameter of XXXX under insulated to cathodic cement its to pressure expected finish start contract XX in will protection supply in new in joints insulated XX-inch be for a and Sypris XXX are monolithic this steel Shipments joints psi.
we an award specialty announced export use CP nameplate gas the will export the for XX Pipeline and Export CPX project Project. closures be in with LNG a the of Together, Global according million August, Louisiana, by metric Cameron per liquefaction in sources. the CPX Venture billion LNG new In for capacity annum. a facility LNG with than terminal, Calcasieu first high-pressure represent be more of CPX Global Natural Gas tons Pass Express investment Terminal natural they export The Venture Global direct $XX Venture developed second will Parish, Parish, to LNG LNG the in being Project. the
Express the pipeline pipeline Texas investment XX lateral diameter CP pipeline, miles of gas XX-inch supply. proposed be of existing gas Global CPX LNG support natural miles connect East and approximately service energy new is in to clean of American in of Southwest diameter mid-XXXX. objective will by X.X develop North the approximately Louisiana. LNG terminal an The to natural new XX-inch consist project reliable and will grid to to The the Venture
on XX as of under its by has completed pressure and the project. range weigh diameter, Turns-branded X,XXX will inches for year-end. as closures much are rated to each. manufacture to to award in the up will will this supply agreed to be specialty up filtration systems a tons high-pressure to XX.X Sypris TOOL-LESS These expected and be Tube use Shipments closures psi for
incorporated multimillion-dollar warfare and one of to contractor receipt surveillance to to follow-on operate produce sources, Turning advanced also single from Sypris the family electronic an aircraft awards modules is now purchase versions all-weather to of single-engine, for to U.S. programs the superiority recently electronic of to Defense. largest the program combat missions. integrated U.S. to of expected into the At XXXX, is American that plans is avionics year and communications is of a According both of until defense able announced be an seat, global the X. system to Slide and The for provide intelligence, the air Department contract XXXX. multi-role stealth the Electronics, The X intended capability. aircraft through reconnaissance strike and aircraft news warfare we aircraft perform and
the and electronic and expected of and friend as produce precision system of The modules the avionics operation data the such test suite aircraft. will advanced for communications. secure the functions, system and Production integrated simultaneous Sypris foe, to in XXXX. voice identification navigation communications, navigation various or begin of is identification multiple critical supports
that tactical a that of of will a card security Key manufacture distribution system, electronic a System. Management functions the with for engineering embedded assemblies perform software circuit provides we from consists the management efficient the test automated AKMS The simple means. We capability key received communication U.S. cryptographic contractor to umbrella an subsystems: at key software, and that an sustaining key fielded certain also our follow-on award the nation's Under basis, management local organic announced is secure load electronic communications DoD X device. and Army key of AKMS units system the prime and generation
receive, management and load card functions for device begin and operation by signal circuit to protection cryptographic of securely to data store data Sypris communication portable, key perform transfer the communications used incorporates key, the The to The features XXXX. simple between ruggedized, that and handheld is produced compatible security cryptographic to embedded will be will be device equipment. in expected electronic instructions. Production provide streamlined for assemblies
Each the contracts high-cost-of-failure Sypris known. is of are well representative these of which applications for
program into the to momentum continue the wins about new revenue and optimistic we very remain coming for as contract future of move expect potential growth We we and year, forward. the
full with similar despite Mexican the year revenue profit peso continued expect drag associated a basis. for XXXX XX%, to gross We strength of with by growth on the year-over-year rising a percentage approximate the
new our Revenue gross Our to momentum contract and XXXX rising reflecting positive, across of XX%, while initial to XX% XX% gross continued increase outlook are expected points. is for to expand our XX% the basis strong margins backlog awards to XXX profit markets. forecast many to with is XXX of
production XX.X% vehicles forecast the a during for for America review year the before in of of years. to believe XXXX, We continuing softening exists advance to sequentially for to X.X% occur of X Now Mexico. to to America following X ACT of for within the by and demand our the rise commercial each North the now to vehicles grow decline and let's that of major outlook with through Research, the favor demand is reshoring rising production production to According with markets. in Slide North potential momentum each to to the XXXX cycles, to XXX,XXX to expected the
this over is imports in gas transportation now past use Sypris boosted Slide offset and shipments countries has The for European Russia. to natural to from increasingly Turning by the declining become dynamic and X. key for pipeline year. XX% XXXX LNG market of
to of the by The to capacity at annual its on import increase their dependency LNG market -- As XXXX. aggressive Russia that of the see and liquefaction by natural by its embarked of needs part campaign of former strategic the The Europe for an LNG will reliable elsewhere. Europe forecasts source gas, upon has that IEEFA capacity supply XX% response outlook will be projects XXXX end the projects of in a global liquidation the starting tons million projects metric mid-XXXX. XX online added coming will tidal wave --
plans and major do XXXX forecast the became XX.X largest a cubic more export to per under future. Europe, XXXX. in projects and in way The the per is day U.S. in LNG approved, to feet The the in with XX.X even billion those By the construction are cubic day that U.S. of is identifying world's the feet XXXX provider per the billion by XXXX, feet of exported depict and billion U.S. illustration, and maps in and day proposed, underway operation. XX.X cubic to in various right exporter
remain strong backlog The these the this positive remain cautiously continued time will our that infrastructure some programs. for support demand energy products year-over-year to reflects outlook optimistic in in We effect come. growing growth to and
on long-term from at spending platforms continues technology Slide defense be see X, very remains budgetary market within strategic of positive. the upgrades high a spending will chart And to overall you the priority. allocations, for As the
of business That's at extending million. XXXX. up now orders with stands $XXX.X year-over-year, backlog into Our X% firm
forward. with are important we momentum, that and the trend level are business pleased new We of going optimistic very will continue this
our in years. that several During place market changes taken mix previous have calls, discussed past the over we the
Turning now markets significantly. our increase to customers Please defense-related with to revenue expected Slide to is to increase XX% note for XX% shipments XXXX, and XX. forecast to that
and As forecast XXXX. believe a electronics this XX% XX% further outcome. exists in We XXXX, from to represent will diversify result, continue our to business, defense that sales consolidated to in is we up opportunity pursue additional aggressively of
emergency expanded margins XX Slide a gross to the And from the should XX% warfare, trillion fiscal $X exceed while brief to XXX are increased of profit Revenue the points rise avionics, on spending increased results. overall in summary. this market turn benefit to despite quarter basis within drag expected discretionary in peso spend, XXX%, let's funding electronic forecast communications with and defense increased Mexican the investments and for combining our disproportionately. Now for negative year. year-over-year for The gross XXXX, and
As XX% a increase to outlook year-over-year. issue pleased initial expected XXXX, are our to we for to result, XX% with revenue
We expect year. to for margin XX% while forecast profit gross to XX% rise XXX XXX basis expand to to points is gross the
Rich our balance Davis the of XX. you will Slide to now through lead Rich? presentations. Turning
