Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

(

)

Organization and Significant Accounting Policies

Consolidation Policy

The accompanying consolidated financial statements include the accounts of Sypris Solutions, Inc. and its wholly-owned subsidiaries (collectively, “Sypris” or the “Company”) and have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission. The Company’s operations are domiciled in the United States (U.S.) and Mexico and serve a wide variety of domestic and international customers. All intercompany accounts and transactions have been eliminated.

Nature of Business

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 with corporations and government agencies. The Company offers such products through its

two

business segments, Sypris Technologies, Inc. (“Sypris Technologies”) and Sypris Electronics, LLC (“Sypris Electronics”). Sypris Technologies derives its revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics derives its revenue primarily from circuit card and box build manufacturing, high reliability manufacturing and systems assembly and integration. Most products are built to the customer’s design specifications. The Company also provides engineering design services and repair or inspection services. See Note

for additional information regarding our segments.

Use of Estimates

The preparation of the consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Changes in facts and circumstances could have a significant impact on the resulting estimated amounts included in our consolidated financial statements. Actual results could differ from these estimates.

Fair Value Estimates

The Company estimates fair value of its financial instruments utilizing an established

three

-level hierarchy. The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date as follows: Level

– Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets. Level

– Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level

– Valuation is based upon other unobservable inputs that are significant to the fair value measurements.

Cash Equivalents

Cash equivalents include all highly liquid investments with a maturity of

three

months or less when purchased.

Inventory

Inventory is stated at the lower of cost or estimated net realizable value. Costs for raw materials, work in process and finished goods is determined under the

first

-in,

first

-out method. Indirect inventories, which include perishable tooling, repair parts and other materials consumed in the manufacturing process but

not

incorporated into finished products are classified as raw materials.

The Company’s reserve for excess and obsolete inventory is primarily based upon forecasted demand for its product sales, and any change to the reserve arising from forecast revisions is reflected in cost of sales in the period the revision is made.

Property, Plant and Equipment

Property, plant and equipment is stated at cost. Depreciation of property, plant and equipment is generally computed using the straight-line method over their estimated economic lives. For land improvements, buildings and building improvements, the estimated economic life is generally

years. Estimated economic lives range from

three

fifteen

years for machinery, equipment, furniture and fixtures. Leasehold improvements are amortized over the shorter of their economic life or the respective lease term using the straight-line method. Expenditures for maintenance, repairs and renewals of minor items are expensed as incurred. Major rebuilds and improvements are capitalized. Also included in plant and equipment are assets under capital lease, which are stated at the present value of minimum lease payments.

Long-lived Assets

The Company reviews the carrying value of amortizable long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset

may

not

be recoverable. Recoverability of assets to be held for sale and held for use is measured by a comparison of the carrying amount of the asset to the undiscounted future net cash flows expected to be generated by the asset. If facts and circumstances indicate that the carrying value of an asset or groups of assets, as applicable, is impaired, the long-lived asset or groups of long-lived assets are written down to their estimated fair value.

Held for sale

The Company classifies long-lived assets or disposal groups as held for sale in the period: management commits to a plan to sell; the long-lived asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such long-lived assets or disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale is probable within

one

year; the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets and disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell.

Stock-based Compensation

The Company accounts for stock-based compensation in accordance with the fair value recognition provisions using the Black-Scholes option-pricing method, which requires the input of several subjective assumptions. These assumptions include estimating the length of time employees will retain their vested stock options before exercising them (expected term) and the estimated volatility of our common stock price over the expected term. Changes in the subjective assumptions can materially affect the fair value estimate of stock-based compensation and consequently, the related expense is recognized in the consolidated statements of operations.

Income Taxes

The Company uses the liability method in accounting for income taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements, using the statutory tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than

not

that such assets will be realized. On

December 22, 2017,

the Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act significantly changes U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to

21%

beginning in

2018

(see Note

In the ordinary course of business there is inherent uncertainty in quantifying the Company’s income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting dates. For those tax positions where it is more-likely-than-

not

that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than

50%

likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is

not

more-likely-than-

not

that a tax benefit will be sustained,

tax benefit has been recognized in the financial statements. Where applicable, associated interest has also been recognized.

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,

Income Taxes

. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense.

Net

Revenue

and Cost of Sales

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;

payment discounts, rebates or refunds are included within its contracts. The Company does

not

provide service-type warranties nor does it allow customer returns. In connection with the sale of various parts to customers, the Company is subject to typical assurance warranty obligations covering the compliance of the electronics parts produced to agreed-upon specifications. Customer returns, when they occur, relate to quality rework issues and are

not

connected to any repurchase obligation of the Company.

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,

Revenue from Contracts with Customers

(“ASC

606”

). When a contract contains multiple performance obligations, we allocate the transaction price to the individual performance obligations using the price at which the promised goods or services would be sold to customers on a standalone basis. For most sales within our Sypris Technologies segment and a portion of sales within Sypris Electronics, control transfers to the customer at a point in time. Indicators that control has transferred to the customer include the Company having a present right to payment, the customer obtaining legal title and the customer having the significant risks and rewards of ownership. The Company’s principal terms of sale are FOB Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment.

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 due to the 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

include estimates of revenues for goods or services on which the customer and the Company have

not

reached final agreements, such as contract changes, settlements of disputed claims, and the final amounts of requested equitable adjustments permitted under the contract. These estimates are based upon management’s best assessment of the totality of the circumstances and are included in our contract profit based upon contractual provisions and our relationships with each customer.

Allowance for Doubtful Accounts

An allowance for uncollectible trade receivables is recorded when accounts are deemed uncollectible based on consideration of write-off history, aging analysis, and any specific, known troubled accounts.

Product Warranty Costs

The provision for estimated warranty costs is recorded at the time of sale and is periodically adjusted to reflect actual experience. The Company’s warranty liability, which is included in accrued liabilities in the accompanying balance sheets, as of

December

31,

2018

and

2017,

was

$582,000

and

$666,000,

respectively. The Company’s warranty expense for the years ended

December

31,

2018

and

2017

was

$136,000

and

$253,000,

respectively.

Concentrations of Credit Risk

Financial instruments which potentially expose the Company to concentrations of credit risk consist of accounts receivable. The Company’s customer base consists of a number of customers in diverse industries across geographic areas, primarily in North America and Mexico, and aerospace and defense companies under contract with the U.S. Government. The Company performs periodic credit evaluations of its customers’ financial condition and does

not

require collateral on its commercial accounts receivable. Credit losses are provided for in the consolidated financial statements and consistently have been within management’s expectations. Approximately

40%

of accounts receivable outstanding at

December

31,

2018

is due from

two

customers. More specifically, Northrop Grumman Corporation (Northrop Grumman) and Sistemas Automotrices de Mexico, S.A. de C. V. (Sistemas) comprise

22%

and

18%,

respectively, of

December

31,

2018

outstanding accounts receivables. Approximately

30%

of accounts receivable outstanding at

December

31,

2017

is due from

two

customers. More specifically, Sistemas Automotrices de Mexico, S.A. de C. V. (Sistemas) and Northrop Grumman Corporation (Northrop Grumman) comprise

15%

and

15%,

respectively, of

December

31,

2017

outstanding accounts receivables.

The Company’s largest customers for the year ended

December

31,

2018

were Sistemas, Northrop Grummon and Detroit Diesel, which represented approximately

19%,

14%

and

14%,

respectively, of the Company’s total net revenue. Detroit Diesel and Sistemas are both customers within the Sypris Technologies segment and Northrop Grummon is a customer within the Sypris Electronics segment. Detroit Diesel, Northrop Grummon and Sistemas were the Company’s largest customers for the year ended

December

31,

2017,

which represented approximately

14%,

13%

and

13%,

respectively, of the Company’s total net revenue.

other single customer accounted for more than

10%

of the Company’s total net revenue for the years ended

December

31,

2018

2017.

Foreign Currency Translation

The functional currency for the Company’s Mexican subsidiaries is the Mexican peso. Assets and liabilities are translated at the period end exchange rate, and income and expense items are translated at the weighted average exchange rate. The resulting translation adjustments are recorded in comprehensive loss as a separate component of stockholders’ equity. Remeasurement gains or losses for U.S. dollar denominated accounts of the Company’s Mexican subsidiaries are included in other income, net.

Collective Bargaining Agreements

Approximately

459,

64%

of the Company’s employees, all within Sypris Technologies, were covered by collective bargaining agreements at

December 31, 2018.

Excluding certain Mexico employees covered under an annually ratified agreement, collective bargaining agreements covering

employees expire within the next

months. Certain Mexico employees are covered by an annually ratified collective bargaining agreement. These employees represented approximately

59%

of the Company’s workforce, or

423

employees as of

December

31,

2018.

Recently Issued Accounting Standards

2014,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2014

Revenue from Contracts with Customers

(ASC

606

), which supersedes nearly all existing revenue recognition guidance. Subsequent to the issuance of ASU

2014

09,

the FASB clarified the new guidance through several additional ASUs; hereinafter the collection of revenue guidance is referred to as “ASC

606.”

ASC

606

is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and any assets recognized from costs incurred to fulfill a contract. The Company adopted the guidance effective

January 1, 2018

using the modified retrospective approach for all contracts

not

completed as of the date of adoption. Results for reporting periods beginning

January

2018

are presented under ASC

606,

while prior period amounts were

not

adjusted and continue to be reported in accordance with the Company’s historic accounting under ASC

605,

Revenue Recognition.

We recorded a net decrease to beginning accumulated deficit of

$170,000

as of

January 1, 2018,

for the cumulative impact of adopting the new guidance. The impact primarily arises from a change in how we account for certain federally funded programs within Sypris Electronics where we transfer control of the products to the customer as they are produced (i.e., a change from recognizing revenue at a point in time to recognizing revenue over time, resulting in revenue being recognized earlier in the process of completing the performance obligation).

The following table summarizes the cumulative effect of the changes to our consolidated balance sheet as of

January

2018

from the adoption of ASC

606:

							Opening
	Balance at			ASC 606			Balance at
	Dec. 31, 2017			Adjustments			Jan. 1, 2018
Assets
Inventories – net	$	17,641		$	(655	)	$	16,986
Contract assets		0			825			825

Liabilities and Equity
Accumulated deficit	$	(111,591	)	$	170		$	(111,421	)

Under the modified retrospective method of adoption, we are also required to disclose in the

first

year of adoption the hypothetical impact to our financial statements if we had continued to follow our accounting policies under ASC

605

during the period. We estimate that the impact to revenue for the year ended

December

31,

2018

would have been a decrease of

$600,000,

representing the amount of revenue recognized over time versus at a point in time under ASC

606.

Additionally, the adoption of ASC

606

increased our operating loss and net loss by

$106,000,

or less than

$0.01

per share for year ended

December 31, 2018.

The following table summarizes the effect of adopting ASC

606

on our consolidated statement of operations for the year ended

December

31,

2018:

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Net revenue	$	87,369		$	600		$	87,969
Cost of sales		79,691			706			80,397
Gross profit		7,678			(106	)		7,572

Selling, general and administrative		10,474			0			10,474
Severance, equipment relocation and other costs		1,394			0			1,394
Operating loss		(4,190	)		(106	)		(4,296	)

Interest expense, net		850			0			850
Other (income), net		(1,436	)		0			(1,436	)
Loss before taxes		(3,604	)		(106	)		(3,710	)

Income tax (benefit) expense, net		(205	)		0			(205	)

Net loss	$	(3,399	)	$	(106	)	$	(3,505	)

The following table summarizes the cumulative effect of the changes to our consolidated balance sheets as of

December

31,

2018

from the adoption of ASC

606:

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Assets
Inventories – net	$	19,945		$	(1,361	)	$	18,584
Contract assets		0			839			839

Liabilities and Equity
Accumulated deficit	$	(114,989	)	$	63		$	(114,926	)

February 2016,

the FASB issued ASU

No.

2016

02,

Leases

(ASC

842

). The new standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This standard affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this update supersedes FASB Accounting Standards Codification (“ASC”)

840,

Leases. The amendments in this ASU are effective for fiscal years beginning after

December 15, 2018,

including interim periods within those fiscal years. In

July 2018,

the FASB issued ASU

No.

2018

11,

Leases

(Topic

842

): Targeted Improvements

, which provides an alternative modified transition method. Under this method, the cumulative-effect adjustment to the opening balance of retained earnings is recognized on the date of adoption with prior periods

not

restated.

The new standard provides a number of optional practical expedients in transition. The Company expects to elect the ‘package of practical expedients’, which permits it

not

to reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. In addition, the new standard provides practical expedients for an entity’s ongoing accounting that the Company anticipates making, such as the (

) the election for certain classes of underlying asset to

not

separate non-lease components from lease components and (

) the election for short-term lease recognition exemption for all leases that qualify.

The Company will adopt this update beginning on

January 1, 2019

using the alternative modified retrospective transition method. The Company expects to elect to utilize the FASB approved option for transition relief with adoption occurring through a cumulative-effect adjustment as of

January 1, 2019.

The Company expects the valuation of right of use assets (ROU) and lease liabilities, previously described as operating leases, to be the present value of the Company’s forecasted future lease commitments. The Company is continuing to assess the overall impacts of the new standard, including the discount rate to be applied in these valuations, and expects the amendments will have a material impact on our consolidated financial statements, primarily from the recognition of right-of-use assets and lease liabilities on our consolidated balance sheets and changes to related disclosures. The Company believes the largest impact will be on the consolidated balance sheets for the accounting of facilities-related leases, which represents a majority of its operating leases it has entered into as a lessee. These leases will be recognized under the new standard as ROU assets and operating lease liabilities. The Company will also be required to provide expanded disclosures for its leasing arrangements. As of

December 31, 2018,

the Company had

$11,273,000

of undiscounted future minimum operating lease commitments that are

not

recognized on its consolidated balance sheets as determined under the current standard. In connection with the adoption of the new guidance, the Company expects to recognize ROU asset in the range of

$7,000,000

$8,000,000,

and lease liabilities in the range of

$7,500,000

$8,500,000

million on its statement of financial position for operating leases and a cumulative effect adjustment to opening retained earnings of

$1,442,000

related to a deferred gain on a sale-leaseback transaction, with limited impact to its results of operations and cash flows.

While substantially complete, the Company is still in the process of finalizing its evaluation of the effect of ASU

842

on the Company’s financial statements and disclosures. The Company will finalize its accounting assessment and quantitative impact of the adoption during the

first

quarter of fiscal year

2019.

As the Company completes its evaluation of this new standard, new information

may

arise that could change the Company’s current understanding of the impact to leases. Additionally, the Company will continue to monitor industry activities and any additional guidance provided by regulators, standards setters, or the accounting profession, and adjust the Company’s assessment and implementation plans accordingly.

June 2016,

the FASB issued ASU

2016

13,

Credit Losses – Measurement of Credit Losses on Financial Instruments

, new guidance for the accounting for credit losses on certain financial instruments. This guidance introduces a new approach to estimating credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. This guidance, which becomes effective

January 1, 2020,

not

expected to have a material impact on our consolidated financial statements.

October 2016,

the FASB issued ASU

2016

16,

Income Taxes (Topic

740

): Intra-Entity Transfers of Assets Other Than Inventory

. ASU

2016

modifies the recognition of income tax expense resulting from intra-entity transfers of assets other than inventory. Pursuant to this amendment, entities should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This amendment eliminates the exception for an intra-entity transfer of assets other than inventory. The Company adopted ASU

2016

as of

January 1, 2018

with

material impact on the Company’s consolidated financial statements.

November 2016,

the FASB issued ASU

2016

18,

Restricted Cash

. This ASU requires that amounts generally described as restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted this ASU on

January 1, 2018

using the retrospective method. The adoption of ASU

2016

had an impact on our financial statement presentation within the Consolidated Statement of Cash Flows, as amounts generally described as restricted cash and restricted cash equivalents are now included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows and transfers of these amounts between balance sheet line items are

longer presented as an operating, investing or financing cash flow. For the year ended

December

31,

2017,

cash flow from investing activities decreased by

$1,500,000

as a result of the adoption of this ASU. The Company did

not

have any restricted cash balances as of

December 31, 2018

2017.

March 2017,

the FASB issued ASU

No.

2017

07,

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

(ASU

2017

). The update requires employers to present the service cost component of the net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost, including interest cost, expected return on plan assets, amortization of prior service cost/credit and actuarial gain/loss, and settlement and curtailment effects, are to be presented outside of any subtotal of operating income. The income statement guidance requires application on a retrospective basis. The Company adopted the ASU on

January 1, 2018,

and as a result operating income increased

$398,000

and other income decreased by

$398,000

for the year ended

December

31,

2017.

The Company used the practical expedient provided in ASU

2017

that permits the use of the amounts disclosed in its benefit plans notes for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. These changes in presentation do

not

result in any changes to net loss or loss per share. Details of the components of net periodic benefit costs are provided in Note

16.

February 2018,

the FASB issued ASU

No.

2018

02,

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

(ASU

2018

). Under existing U.S. GAAP, the effects of changes in tax rates and laws on deferred tax balances are recorded as a component of income tax expense in the period in which the law was enacted. When deferred tax balances related to items originally recorded in accumulated other comprehensive income are adjusted, certain tax effects become stranded in accumulated other comprehensive income. The amendments in ASU

2018

allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. The amendments in this ASU also require certain disclosures about stranded tax effects. The guidance is effective for fiscal years beginning after

December 15, 2018,

and interim periods within those fiscal years. Early adoption in any period is permitted. The Company does

not

expect the adoption of ASU

2018

to have a material impact on the Company’s consolidated financial statements.

August 2018,

the FASB issued ASU

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

(ASU

2018

). ASU

2018

aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new guidance will be effective for public companies for fiscal years beginning after

December 15, 2019

and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect that the new guidance will have on its consolidated financial statements and related disclosures.

Note 2 - Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Text Block]

(

)

Revenue from Contracts with Customers

payment discounts, rebates or refunds are included within its contracts. The Company also does

not

). Customer returns, when they occur, relate to quality rework issues and are

not

connected to any repurchase obligation of the Company.

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.

When a contract contains multiple performance obligations, we allocate the transaction price to the individual performance obligations using the price at which the promised goods or services would be sold to customers on a standalone basis. For most sales within our Sypris Technologies segment and a portion of sales within Sypris Electronics, control transfers to the customer at a point in time. Indicators that control has transferred to the customer include the Company having a present right to payment, the customer obtaining legal title and the customer having the significant risks and rewards of ownership. The Company’s principal terms of sale are FOB Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment.

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

include estimates of revenues for goods or services on which the customer and the Company have

not

The majority of our arrangements are for

one

year or less. For the remaining population of non-cancellable contracts greater than

one

year we had

$15,867,000

of remaining performance obligations as of

December

31,

2018,

all of which were long-term Sypris Electronics’ contracts. We expect to recognize approximately

58%

of our remaining performance obligations as revenue in the

2019,

30%

2020

and the balance thereafter.

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the year ended

December

31,

2018:

	Year Ended
	Dec. 31, 2018

Sypris Technologies – transferred point in time	$	59,816
Sypris Electronics – transferred point in time		5,800
Sypris Electronics – transferred over time		22,353

Net revenue	$	87,969

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

– Contract assets include unbilled amounts typically resulting from sales under contracts where revenue is recognized over time and revenue recognized exceeds the amount billed to the customer, and the right to payment is subject to conditions other than the passage of time. Contract assets are generally classified as current assets in the consolidated balance sheet. The balance of contract assets as of

December

31,

2018

and at the date of adoption of ASC

606

were

$839,000

and

$825,000,

respectively, and are included within other current assets in the accompanying consolidated balance sheets.

Contract liabilities

– Some of the Company’s contracts within Sypris Electronics are billed as work progresses in accordance with the contract terms and conditions, either at periodic intervals or upon achievement of certain milestones. Often this results in billing occurring prior to revenue recognition resulting in contract liabilities. Additionally, the Company

may

receive cash payments from customers prior to the Company transferring control of the good resulting in contract liabilities. These contract liabilities are classified as either current or long-term in the consolidated balance sheet based on the timing of when the Company expects to recognize revenue. As of

December

31,

2018

and at the date of adoption of ASC

606,

contract liabilities were

$8,369,000

and

$1,509,000,

respectively, and are included within accrued liabilities in the accompanying consolidated balance sheets. Payments received from customers in advance of revenue recognition are

not

considered to be significant financing components because they are used to meet working capital demands that can be higher in the early stages of a contract.

The amount of revenue recognized in the period that was included in the opening current deferred revenue, which reflects the contract liability amounts, was

$1,121,000.

Practical expedients and exemptions

Sales commissions are expensed when incurred because the amortization period would have been

one

year or less. These costs are recorded in selling, general and administrative expense in the consolidated statements of operations.

We do

not

disclose the value of unsatisfied performance obligations for contracts with original expected lengths of

one

year or less.

Note 3 - Strategic Actions

12 Months Ended

Dec. 31, 2018

Concentration Risk Disclosure [Text Block]

(

)

Strategic Actions

The Company completed a number of strategic actions during the past

four

years in response to the nonrenewal of supply agreements with certain Tier I automotive customers primarily due to global pricing constraints, the downturn in the commercial vehicle market beginning in the

fourth

quarter of

2015

and other market and economic factors impacting the Company. Strategic actions taken included: (i) the Company’s exit from the Broadway Plant (defined below) (see Note

), (ii) the sale of Sypris Electronics’ SioMetrics, Cyber Range, Information Security Solutions and Data Systems product lines (the “CSS business”) in

2016,

(iii) the sale and leaseback of the Company’s facility in Toluca, Mexico in

2016,

(iv) the sale of the Company’s manufacturing facility in Morganton, North Carolina in

2015,

(v) the capacity reallocation of certain oil and gas industry components to Mexico, (vi) the relocation of its Sypris Electronics operation to a new facility beginning in

2017,

and (vii) reductions in employment costs through senior management pay reductions. Using a portion of the proceeds generated from the asset sales noted above, the Company paid off all of its most senior secured debt consisting of a “Term Loan” and “Revolving Credit Facility” in

August 2016.

During this period, the Company also 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

in principal, originally scheduled to mature in

2019.

The GFCM note was amended during

2017

to, among others things, extend the maturity dates so that the note matures in part in

2021,

2023

and

2025

(see Note

The Company has reduced its reliance on certain of its traditional Tier

customers that represent the primary suppliers to the original equipment manufacturers (“OEMs”) in the commercial vehicle markets, while targeting to replace these customers with more diversified, longer-term relationships, especially among the OEMs and others who place a higher value on the Company’s innovation, flexibility and core commitment to lean manufacturing principles. Among the customer programs

not

being renewed was a supply agreement with Meritor Inc. (“Meritor”), which expired on

January 1, 2017,

which utilized production at the Company’s Louisville, Kentucky automotive and commercial vehicle manufacturing plant (the “Broadway Plant”). The Company similarly has non-renewed its business with Eaton Corporation (“Eaton”). As a result of these decisions, the Company experienced a significant reduction in its commercial vehicle revenues in

2017

(See Note

). During the

fourth

quarter of

2018,

the Company entered into a

three

-year agreement to supply axle shafts to Sistemas Automotrices de Mexico, S.A. de C.V. (“Sistemas”), as well as a number of other product lines for periods of up to

six

years from the commencement of production.

Note 4 - Exit and Disposal Activities

12 Months Ended

Dec. 31, 2018

Restructuring and Related Activities Disclosure [Text Block]

(

)

Exit and Disposal Activities

February 21, 2017,

the Board of Directors approved a modified exit or disposal plan with respect to the Broadway Plant, which included the relocation of production to other Company facilities, as needed, and/or the closure of the plant. The relocation of production was complete as of the end of

2017.

The Company has relocated certain assets from the Broadway Plant to other manufacturing facilities, as needed, to serve its existing and target customer base and identified underutilized or non-core assets for disposal. Management expects to apply the proceeds from the sale of any underutilized or non-core assets to help fund the costs to transfer any additional equipment from the Broadway Plant. Management is currently evaluating options for the real estate and any remaining assets in the Broadway Plant.

As a result of these initiatives, the Company recorded charges of

$1,394,000,

$0.07

per share, and

$2,360,000,

$0.12

per share, during

2018

and

2017,

respectively, related to the transition of production from the Broadway Plant, which is included in severance, relocation and other costs in the consolidated statement of operations. All amounts incurred were recorded within Sypris Technologies. The charges for

2018

included

$361,000

for equipment relocation costs and

$1,033,000

primarily related to mothball costs associated with the closed facility. The charges for

2017

included

$936,000

for severance and benefit related costs and

$1,424,000

for equipment relocation costs. A summary of the total pre-tax charges is as follows (in thousands):

			Costs Incurred
	Year		Total		Remaining
	Total		Ended		Recognized		Costs to be
	Program		Dec. 31, 2018		to date		Recognized
Severance and benefit related costs	$	1,350	$	0	$	1,350	$	0
Asset impairments		188		0		188		0
Equipment relocation costs		1,955		361		1,785		170
Other		1,308		1,033		1,078		230
	$	4,801	$	1,394	$	4,401	$	400

A summary of costs and related reserves for the transition of production from the Broadway Plant at

December

31,

2018

is as follows (in thousands):

	Accrued		Cash		Accrued
	Balance at		Payments		Balance at
	Dec. 31,		2018		or Asset			Dec. 31,
	2017		Charge		Write-Offs			2018
Severance and benefit-related costs	$	145	$	0	$	(145	)	$	0
Equipment relocation costs		0		361		(361	)		0
Other		0		1,033		(1,033	)		0
	$	145	$	1,394	$	(1,539	)	$	0

The Company expects to incur additional pre-tax costs of approximately

$400,000

within Sypris Technologies, the majority of which is expected to be cash expenditures.

As noted above, management expects to apply proceeds from the sale of underutilized or non-core assets to help fund the costs to transfer additional equipment from the Broadway Plant and the transition of the related production. The following assets have been segregated and included in assets held for sale in the consolidated balance sheets (in thousands):

	December 31,
	2018			2017
Property, plant and equipment	$	11,207		$	28,874
Accumulated depreciation		(9,733	)		(25,976	)
Property, plant and equipment, net	$	1,474		$	2,898

Note 5 - Property Insurance Settlement

12 Months Ended

Dec. 31, 2018

Business Insurance Recoveries [Text Block]

(

)

Property Insurance Settlement

Subsequent to the transfer of production from the Broadway Plant, the primary water supply and sprinkler pipes within the facility suffered freeze damage during an extended period of extreme cold temperatures. The Company and its insurer reached a full and final settlement agreement with respect to the claim during the

second

quarter of

2018.

Insurance proceeds are recorded to the extent of the losses and then, only if recovery is realized or probable. Any gains in excess of losses are recognized only when the contingencies regarding the recovery are resolved and the amount is fixed or determinable. During the year ended

December

31,

2018,

the Company received insurance proceeds of

$2,447,000

and recognized an insurance recovery gain of

$2,275,000,

net of expenses incurred for claim related expenses.

The Company is currently evaluating options related to the disposition of the Broadway Plant, including the extent to which repairs, if any, are made to the facility. The Company considered the need for an impairment recognition based on the change in the facility’s physical condition following the freeze damage. Although the fair market value of the facility was reduced by the freeze damage, the Company determined the fair market value of the building and land exceeds the net book value as of

December 31, 2018.

Note 6 - Other Income, Net

12 Months Ended

Dec. 31, 2018

Other Income and Other Expense Disclosure [Text Block]

(

)

Other Income, Net

As described in Note

the Company adopted ASU

2017

in the

first

quarter of

2018.

ASU

2017

requires the Company to disaggregate the service cost component from the other components of net periodic benefit costs and requires application on a retrospective basis. Accordingly, the other components of net periodic benefit costs included in other income for the year ended

December 31,

2018

and

2017

were

$584,000

and

$398,000,

respectively.

During

2018,

the Company recognized an insurance recovery gain of

$2,275,000

related to the settlement of a property insurance claim on the Broadway Plant (see Note

). Additionally, the Company recognized a net loss of

$249,000

related to the sale of certain idle assets and foreign currency related translation gains of

$21,000

related to the U.S. dollar denominated monetary asset position of our Mexican subsidiaries for which the Mexican peso is the functional currency.

During the year ended

December

31,

2017,

the Company recognized other income of

$1,515,000,

which consisted primarily of a gain of

$2,668,000

related to the gain recorded on the sale of assets within Sypris Technologies. The gain was partially offset by foreign currency related translation losses of

$773,000

related to the net U.S. dollar denominated monetary asset position of our Mexican subsidiaries for which the Mexican peso is the functional currency.

Note 7 - Accounts Receivable

12 Months Ended

Dec. 31, 2018

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

(

)

Accounts Receivable

Accounts receivable consists of the following (in thousands):

	December 31,
	2018			2017
Commercial	$	9,962		$	9,464
Allowance for doubtful accounts		(81	)		(147	)
Net	$	9,881		$	9,317

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Note 10 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment Disclosure [Text Block]

(

)

Property, Plant and Equipment

Property, plant and equipment consists of the following (in thousands):

	December 31,
	2018			2017
Land and land improvements	$	219		$	219
Buildings and building improvements		11,178			11,140
Machinery, equipment, furniture and fixtures		59,179			54,554
Construction in progress		2,141			998
		72,717			66,911
Accumulated depreciation		(58,062	)		(51,337	)
	$	14,655		$	15,574

Depreciation expense, including amortization of assets recorded under capital leases, totaled approximately

$2,648,000

and

$3,884,000

for the years ended

December

31,

2018

and

2017,

respectively. Capital expenditures included in accounts payable or accrued liabilities were

not

material at

December

31,

2018

and

2017,

respectively.

Included within property, plant and equipment were assets under capital leases as follows (in thousands):

	December 31,
	2018			2017
Buildings and building improvements	$	2,995		$	2,987
Machinery, equipment, furniture and fixtures		1,277			1,277
		4,272			4,264
Accumulated depreciation		(976	)		(548	)
	$	3,296		$	3,716

Note 14 - Debt

12 Months Ended

Dec. 31, 2018

Long-term Debt [Text Block]

(

)

Debt

Long-term obligations consists of the following (in thousands):

	December 31,
	2018			2017
Current:
Current portion of capital lease obligations	$	593		$	829

Long Term:
Note payable – related party	$	6,500		$	6,500
Capital lease obligations		2,804			3,397
Less unamortized debt issuance and modification costs		(51	)		(65	)

Long term debt and capital lease obligations, net of unamortized debt costs	$	9,253		$	9,832

The weighted average interest rate for outstanding borrowings at

December

31,

2018

and

2017

was

8.0%

The Company had

capitalized interest in

2018

2017.

Interest paid during the years ended

December

31,

2018

and

2017

totaled approximately

$526,000

and

$526,000,

respectively.

Note Payable – Related Party

The Company has received the benefit of cash infusions from GFCM in the form of secured promissory note obligations totaling

$6,500,000

in principal as of

December

31,

2018

and

December 31, 2017.

GFCM is an entity controlled by the Company’s chairman, president and chief executive officer, Jeffrey T. Gill and

one

of our directors, R. Scott Gill. GFCM, Jeffrey T. Gill and R. Scott Gill are significant beneficial stockholders of the Company. The promissory note bears interest at a rate of

8.0%

per year until

March 31, 2019

and, thereafter is reset on

April 1

of each year, at the greater of

8.0%

500

basis points above the

five

-year Treasury note average during the preceding

-day period, in each case, payable quarterly. The maturity dates for the obligation are as follows:

$2,500,000

of the obligation on

April

2021,

$2,000,000

April 1,

2023,

and the balance on

April

2025.

The note allows for up to an

-month deferral of payment for up to

60%

of the interest due on the portion of the notes maturing in

April

2021

and

2023.

Obligations under the promissory note are guaranteed by all of the subsidiaries and are secured by a

first

priority lien on substantially all assets of the Company.

Capital Lease Obligation

March 9, 2016,

the Company completed the sale of its

-acre Toluca property for

215,000,000

Mexican Pesos, or approximately

$12,182,000

in U.S. dollars. Simultaneously, the Company entered into a

ten

-year lease of the

acres and buildings currently occupied by the Company and needed for its ongoing business in Toluca (see Note

). As a result of the Toluca Sale-Leaseback, the Company has a capital lease obligation of

$2,699,000

for the building as of

December

31,

2018.

January 2018,

the Company entered into a

-month capital lease for

$1,277,000

for new production equipment installed at its Sypris Electronics facility during

2017.

The balance of the capital lease obligation as of

December

31,

2018

was

$698,000.

The future minimum payments for capital leases as of

December

31,

2018

are as follows (in thousands):

2019	$	927
2020		881
2021		580
2022		548
2023		548
Thereafter		1,143
Total future payments		4,627
Less: Amount representing interest		(1,230	)
Present value of future minimum payments		3,397
Less: Current portion		(593	)
Long term portion	$	2,804

Note 16 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2018

Pension and Other Postretirement Benefits Disclosure [Text Block]

(

)

Employee Benefit Plans

Sypris Technologies sponsors noncontributory defined benefit pension plans (the “Pension Plans”) covering certain of its employees. The Pension Plans covering salaried and management employees provide pension benefits that are based on the employees’ highest

five

-year average compensation within

ten

years before retirement. The Pension Plans covering hourly employees and union members generally provide benefits at stated amounts for each year of service. All of the Company’s pension plans are frozen to new participants and certain plans are frozen to additional benefit accruals. The Company’s funding policy is to make the minimum annual contributions required by the applicable regulations. The Pension Plans’ assets are primarily invested in equity securities and fixed income securities.

The following table details the components of pension (income) expense (in thousands):

	Year ended December 31,
	2018			2017
Service cost	$	4		$	6
Interest cost on projected benefit obligation		1,315			1,518
Net amortization of actuarial loss		632			693
Expected return on plan assets		(1,363	)		(1,813	)
Net periodic benefit cost	$	588		$	404

The following are summaries of the changes in the benefit obligations and plan assets and of the funded status of the Pension Plans (in thousands):

	December 31,
	2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	39,179		$	39,312
Service cost		4			6
Interest cost		1,315			1,518
Actuarial (gain) loss		(2,913	)		1,278
Benefits paid		(2,895	)		(2,935	)
Benefit obligation at end of year	$	34,690		$	39,179

Change in plan assets:
Fair value of plan assets at beginning of year	$	34,398		$	33,838
Actual return on plan assets		(1,381	)		3,495
Company contributions		77			0
Benefits paid		(2,895	)		(2,935	)
Fair value of plan assets at end of year	$	30,199		$	34,398

Underfunded status of the plans	$	(4,491	)	$	(4,781	)

Balance sheet assets (liabilities):
Other assets	$	138		$	0
Accrued liabilities		(357	)		0
Other liabilities		(4,272	)		(4,781	)
Net amount recognized	$	(4,491	)	$	(4,781	)

Pension plans with accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	23,466		$	26,327
Accumulated benefit obligation		23,466			26,327
Fair value of plan assets		18,838			21,539

	December 31,
	2018				2017
Projected benefit obligation and net periodic pension cost assumptions:
Discount rate – projected benefit obligation			4.25%				3.55%
Discount rate – net periodic pension cost			3.55				4.05
Rate of compensation increase			4.00				4.00
Expected long-term rate of return on plan assets		3.95	–	4.30		5.15	–	6.30

Weighted average asset allocation:
Equity securities			16%				27%
Debt securities			80				71
Other			4				2
Total			100%				100%

The fair values of our pension plan assets as of

December 31, 2018

are as follows (in thousands):

			Significant
	Quoted Prices		Other
	In Active		Observable
	Markets		Inputs
	(Level 1)		(Level 2)
Asset categories:
Cash and cash equivalents	$	1,415	$	0
Equity securities:
U.S. Large Cap		1,590		0
U.S. Mid Cap		967		0
U.S. Small Cap		489		0
World Equity		1,886		0
Real Estate		458		0
Other		690		0
Fixed income securities		5,237		17,467
Total Plan Assets	$	12,732	$	17,467

The fair values of our pension plan assets as of

December 31, 2017

are as follows (in thousands):

			Significant
	Quoted Prices		Other
	In Active		Observable
	Markets		Inputs
	(Level 1)		(Level 2)
Asset categories:
Cash and cash equivalents	$	1,090	$	0
Equity securities:
U.S. Large Cap		5,845		0
U.S. Mid Cap		1,343		0
U.S. Small Cap		795		0
World Equity		1,484		0
Real Estate		473		0
Other		147		0
Fixed income securities		6,462		16,759
Total Plan Assets	$	17,639	$	16,759

Investments in our defined benefit plans are stated at fair value. The following valuation methods were used to value our pension assets:

	Equity securities	The fair value of equity securities is determined by either direct or indirect quoted market prices. When the value of assets held in separate accounts is not published, the value is based on the underlying holdings, which are primarily direct quoted market prices on regulated financial exchanges.

	Fixed income securities	The fair value of fixed income securities is determined by either direct or indirect quoted market prices. When the value of assets held in separate accounts is not published, the value is based on the underlying holdings, which are primarily direct quoted market prices on regulated financial exchanges.

	Cash and cash equivalents	The fair value of cash and cash equivalents is set equal to its cost.

The methods described above

may

produce a fair value calculation that

may

not

be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The Company uses

December

as the measurement date for the Pension Plans. Total estimated contributions expected to be paid to the plans during

2019

$285,000,

which represents the minimum funding amounts required by federal law. The expected long-term rates of return on plan assets for determining net periodic pension cost for

2018

and

2017

were chosen by the Company from a best estimate range determined by applying anticipated long-term returns and long-term volatility for various assets categories to the target asset allocation of the plan. The target asset allocation of plan assets is equity securities ranging

55%,

fixed income securities ranging

100%

and non-traditional/other of

10%

of total investments.

When establishing the expected long-term rate of return on our U.S. pension plan assets, the Company considered historical performance and forward looking return estimates reflective of our portfolio mix and investment strategy. Based on the most recent analysis of projected portfolio returns, the Company concluded that the use of

3.95%

for the Louisville Hourly Plan,

4.30%

for the Marion Plan and

4.20%

for the Louisville Salaried Plan as the expected return on our U.S. pension plan assets for

2018

was appropriate.

Actuarial gains and losses, which are primarily the result of changes in the discount rate and other assumptions and differences between actual and expected asset returns, are deferred in Accumulated Other Comprehensive Income and amortized to expense following the corridor approach. We use the average remaining service period of active participants unless almost all of the plan’s participants are inactive, in which case we use the average remaining life expectancy for all active and inactive participants. Accumulated other comprehensive loss at

December

31,

2018

includes

$13,777,000

of unrecognized actuarial losses that have

not

yet been recognized in net periodic pension cost. The actuarial loss included in accumulated other comprehensive loss and expected to be recognized in net periodic pension cost during the fiscal year ended

December

31,

2019

$674,000.

The actual loss reclassified from accumulated other comprehensive loss for

2018

and

2017

was

$632,000

and

$693,000,

respectively.

December

31,

2018,

the benefits expected to be paid in each of the next

five

fiscal years, and in aggregate for the

five

fiscal years thereafter are as follows (in thousands):

2019		2,903
2020		2,833
2021		2,787
2022		2,723
2023		2,653
2024-2028		12,130
Total	$	26,029

The Company sponsors a defined contribution plan (the “Defined Contribution Plan”) for substantially all domestic employees of the Company. The Defined Contribution Plan is intended to meet the requirements of Section

401

(k) of the Internal Revenue Code. The Defined Contribution Plan allows the Company to match participant contributions up to

and provide discretionary contributions. Contributions to the Defined Contribution Plan by the Company in

2018

and

2017

totaled approximately

$428,000

and

$530,000,

respectively.

In addition, certain of the Company’s non-U.S. employees are covered by various defined benefit and defined contribution plans. The Company’s expenses for these plans totaled approximately

$41,000

and

$20,000

2018

and

2017,

respectively. The aggregate benefit plan assets and accumulated benefit obligation of these plans are

not

significant.

Note 17 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Text Block]

(

)

Commitments and Contingencies

The Company leases certain of its real property and certain equipment under operating leases with terms ranging from month-to-month to

ten

years and which contain various renewal and rent escalation clauses. Future minimum annual lease commitments under operating leases that have initial or remaining noncancelable lease terms in excess of

one

year as of

December

31,

2018

are as follows (in thousands):

2019	$	1,453
2020		1,387
2021		1,430
2022		1,443
2023		1,459
2024 and thereafter		4,101
Total	$	11,273

Rent expense for the years ended

December

31,

2018

and

2017

totaled approximately

$1,415,000

and

$1,427,000,

respectively.

As of

December

31,

2018,

the Company had outstanding purchase commitments of approximately

$12,027,000

primarily for the acquisition of inventory. These commitments are for goods and services to be acquired in the ordinary course of business and are fulfilled by our vendors within a short period of time.

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

-party plan administrators, historical claims experience, expected costs of claims incurred but

not

paid, and expected costs to settle unpaid claims. The Company monitors its estimated insurance-related liabilities on a quarterly basis. As facts change, it

may

become necessary to make adjustments that could be material to the Company’s consolidated results of operations and financial condition.

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

expect that these matters will have a material adverse effect on the consolidated financial position or results of operations of the Company.

The Company accounts for loss contingencies in accordance with U.S. generally accepted accounting principles (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

be probable that a loss has occurred but the estimate of the loss is within a wide range or undeterminable. If the Company deems an amount within the range to be a better estimate than any other amount within the range, that amount will be accrued. However, if

amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued.

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

December

31,

2018

and

2017,

amounts were accrued for any environmental matters. See “Legal Proceedings” in Part I, Item

of this Annual Report on Form

-K.

December 27, 2017,

the U.S. Department of Labor (the “DOL”) filed a lawsuit alleging that the Company had misinterpreted the language of its Company’s

401

(k) Plans (collectively, the “Plan”). The DOL does

not

appear to dispute that the Company reached such interpretation in good faith and after consulting with independent ERISA counsel. If the DOL’s allegations were upheld by a court, the Company could be required to make additional contributions into the accounts of its Plan participants. While the Company regards the DOL’s allegations to be without merit, the Company submitted a counteroffer to a proposed settlement offer from the DOL in

February 2019

in an amount deemed to be immaterial to the Company’s financial statements.

During the year ended

December

31,

2017,

the Company became aware of a lawsuit involving

one

of Sypris Electronics’ customers and its primary distributor. This customer informed the Company that, as a result of the lawsuit, the customer would

longer operate its business, and that it has transferred this business to a designated successor. The Company holds

$759,000

of gross inventory related specifically to this customer as of

December

31,

2018.

December 21, 2017,

the Company entered into a new supply agreement with the designated successor, which provides for purchases of the aforementioned inventory and additional purchases in excess of our inventories on hand and for prices in excess of our cost. As of

December

31,

2018,

the Company has recognized revenue of

$293,000

under the new supply agreement and has received purchase orders under the new supply agreement, however

not

all purchase obligations were met as of

December 31, 2018.

assurances can be given that the successor customer will be successful or will continue to comply with the terms of the new agreement, which could adversely affect our ability to recoup any or all of our investment in these inventories. Given the uncertainties described above, the Company established a reserve of

$246,000

on the recoverability of the inventory as of

December

31,

2018

and estimates that the range of loss that is reasonably possible should the program with the successor

not

be successful could increase by an additional

$513,000.

During the

fourth

quarter of

2018,

the Company resolved an outstanding disputed legal fee for an amount less than originally charged. The resolution of the disputed legal fee resulted in a decrease in selling, general and administrative expense of

$1,890,000

for the year ended

December 31, 2018.

Note 18 - Stock Option and Purchase Plans

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(

)

Stock Option and Purchase Plans

The Company’s stock compensation program provides for the grant of restricted stock (including performance-based restricted stock), unrestricted stock, stock options and stock appreciation rights. A total of

3,655,088

shares of common stock were registered for issuance under the

2010

Omnibus Plan. On

May 19, 2015,

the

2010

Omnibus Plan was replaced with the

2015

Omnibus Plan. A total of

3,476,021

shares were registered for issuance under the

2015

Omnibus Plan. Additionally, awards under the

2010

Omnibus Plan that are cancelled without having been fully exercised or vested are available again for new awards under the

2015

Omnibus Plan. The aggregate number of shares available for future grant as of

December

31,

2018

and

2017

was

544,771

and

1,314,021,

respectively.

The

2010

and

2015

Omnibus Plans provide for restrictions which lapse after

three

years. During the restricted period, which is commensurate with each vesting period, the recipient has the right to receive dividends and voting rights for the shares. Generally, if a recipient leaves the Company before the end of the restricted period or if performance requirements, if any, are

not

met, the shares will be forfeited.

Under the plans, the Company

may

grant options to purchase common stock to officers, key employees and non-employee directors. Options

may

be granted at

not

less than the market price on the date of grant. Stock option grants under the

2010

and

2015

Omnibus Plans include a

five

year life along with vesting after

three

years of service.

Compensation expense is measured based on the fair value at the date of grant and is recognized on a straight-line basis over the vesting period. Fair value for restricted shares is equal to the stock price on the date of grant, while the fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing method. The Company uses historical Company and industry data to estimate the expected price volatility, the expected option life and the expected dividend yield. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. Forfeitures are recorded as they occur. Stock based compensation expense of

$637,000

and

$730,000

has been recorded in selling, general and administrative expense in the consolidated statements of operations for the years ended

December 31, 2018

and

2017,

respectively.

The following weighted average assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model:

	Year ended December 31,
	2018			2017
Expected life (years)		4.0			4.0
Expected volatility		51.8	%		51.2	%
Risk-free interest rates		2.65	%		1.91	%
Expected dividend yield		0.0	%		0.0	%

A summary of the restricted stock activity is as follows:

				Weighted-		Weighted-
				average		average		Aggregate
	Number of			Grant Date		Remaining		Intrinsic
	Shares			Fair Value		Term		Value
Nonvested shares at January 1, 2018		1,029,000		$	1.20
Granted		0			0
Vested		(186,000	)		2.05
Forfeited		0			0
Nonvested shares at December 31, 2018		843,000		$	1.01		0.83	$	902,000

The total fair value of shares vested during

2018

and

2017

was

$381,000

and

$408,000,

respectively.

The following table summarizes option activity for the year ended

December 31, 2018:

				Weighted-		Weighted-
				average		average		Aggregate
	Number of			Exercise Price		Remaining		Intrinsic
	Shares			Per Share		Term		Value
Outstanding at January 1, 2018		1,821,000		$	1.70
Granted		757,750			1.61
Exercised		0			0
Forfeited		(33,500	)		1.24
Expired		(219,000	)		3.93
Outstanding at December 31, 2018		2,326,250		$	1.47		2.43	$	0
Exercisable at December 31, 2018		524,700		$	2.21		0.81	$	0

The weighted average grant date fair value based on the Black-Scholes option pricing model for options granted in the years ended

December

31,

2018

and

2017

was

$0.69

and

$0.45

per share, respectively. There were

options exercised in

2018

2017.

As of

December

31,

2018,

there was

$677,000

of total unrecognized compensation cost related to unvested share-based compensation granted under the plans. That cost is expected to be recognized over a weighted-average period of

1.1

years. The total fair value of option shares vested during the years ended

December

31,

2018

and

2017

was

$184,000

and

$228,000,

respectively.

Note 19 - Stockholders' Equity

12 Months Ended

Dec. 31, 2018

Stockholders' Equity Note Disclosure [Text Block]

(

)

Stockholders’ Equity

As of

December

31,

2018

and

2017,

24,850

shares of the Company’s preferred stock were designated as Series A Preferred Stock in accordance with the terms of our stockholder rights plan, which expired in

October 2011.

There are

shares of Series A Preferred Stock currently outstanding, and there are

current plans to issue any such shares.

The holders of our common stock were

not

entitled to any payment as a result of the expiration of the rights plan and the rights issued thereunder.

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):

	December 31,
	2018			2017
Foreign currency translation adjustments, net of tax	$	(10,967	)	$	(10,915	)
Employee benefit related adjustments – U.S, net of tax.		(14,177	)		(14,748	)
Employee benefit related adjustments – Mexico, net of tax		302			112

Accumulated other comprehensive loss	$	(24,842	)	$	(25,551	)

Changes in each component of accumulated other comprehensive loss consisted of the following:

							Accumulated
	Foreign			Defined			Other
	Currency			Benefit			Comprehensive
	Translation			Plans			Loss
Balance at January 1, 2017	$	(11,334	)	$	(15,264	)	$	(26,598	)
Currency translation adjustments, net of tax		419			0			419
Net actuarial gain for the year, net of tax		0			205			205
Amortization for the year, net of tax		0			423			423

Balance at December 31, 2017		(10,915	)		(14,636	)		(25,551	)

Currency translation adjustments, net of tax		(52	)		0			(52	)
Net actuarial gain for the year, net of tax		0			276			276
Amortization for the year, net of tax		0			485			485

Balance at December 31, 2018	$	(10,967	)	$	(13,875	)	$	(24,842	)

Note 20 - Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Text Block]

(

)

Income Taxes

The Company accounts for income taxes under the liability method. Accordingly, deferred income taxes have been provided for temporary differences between the recognition of revenue and expenses for financial and income tax reporting purposes and between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. On

December 22, 2017,

the U.S. government enacted comprehensive Federal tax legislation commonly referred to as the Tax Cuts and Jobs Act of

2017

(the “Tax Act”). The Tax Act significantly modifies the U.S. corporate income tax system by, among other things, reducing the federal income tax rate from

35%

21%,

limiting certain deductions, including limiting the deductibility of interest expense to

30%

of U.S. Earnings Before Interest, Taxes, Depreciation and Amortization, imposing a mandatory

one

-time deemed repatriation tax on accumulated foreign earnings and creating a territorial tax system that changes the manner in which future foreign earnings are subject to U.S. tax.

The components of income (loss) before taxes are as follows (in thousands):

	Year ended December 31,
	2018			2017
Domestic	$	(5,331	)	$	(7,328	)
Foreign		1,621			(4,112	)
Total	$	(3,710	)	$	(11,440	)

The components of income tax (benefit) expense are as follows (in thousands):

	Year ended December 31,
	2018			2017
Current:
Federal	$	0		$	(184	)
State		2			39
Foreign		302			194
Total current income tax expense		304			49
Deferred:
Federal		(191	)		(600	)
State		(21	)		(67	)
Foreign		(297	)		0
Total deferred income tax (benefit) expense		(509	)		(667	)

Income tax (benefit) expense, net	$	(205	)	$	(618	)

Income tax (benefit) expense for each year is allocated to continuing operations, discontinued operations, extraordinary items, other comprehensive income, the cumulative effects of accounting changes, and other charges or credits recorded directly to shareholders’ equity. ASC

740

Income Taxes, Intraperiod Tax Allocation, Other Presentation Matters

includes an exception to the general principle of intraperiod tax allocations. The codification source states that the tax effect of pretax income or loss from continuing operations generally should be determined by a computation that considers only the tax effects of items that are included in continuing operations. The exception to that incremental approach is that all items (i.e. other comprehensive income, discontinued operations, etc.) be considered in determining the amount of tax benefit that results from a loss from continuing operations and that benefit should be allocated to continuing operations. That is, when a company has a current period loss from continuing operations, management must consider income recorded in other categories in determining the tax benefit that is allocated to continuing operations. This includes situations in which a company has recorded a full valuation allowance at the beginning and end of the period, and the overall tax provision for the year is zero. The intraperiod tax allocation is performed once the overall tax provision has been computed and allocates that provision to various income statement (continuing operations, discontinued operations), other comprehensive income and balance sheet captions. While the intraperiod tax allocation does

not

change the overall tax provision, it results in a gross-up of the individual components. Additionally, tax jurisdictions must be considered separately; therefore the allocation to the U.S. and Mexico must be looked at separately.

As the Company experienced a net loss from operations in the U.S. for the year ended

December

31,

2018

and other comprehensive income from employee benefit adjustments, the Company has allocated income tax expense against the components of other comprehensive income in

2018

using a

23.3%

effective tax rate. Income tax benefit for the year ended

December

31,

2018

includes a benefit of

$212,000

due to the required intraperiod tax allocation. Conversely, other comprehensive income for the year ended

December

31,

2018

includes income tax expense of

$212,000.

Income tax benefit for the year ended

December

31,

2017

includes a benefit of

$667,000

due to the required intraperiod tax allocation. Conversely, other comprehensive income for the year ended

December

31,

2017

includes income tax expense of

$667,000.

The Company files a consolidated federal income tax return which includes all domestic subsidiaries. State income taxes paid in the U.S. during

2018

and

2017

totaled

$33,000

and

$110,000,

respectively. State income tax refunds received in the U.S. during

2018

and

2017

totaled

$12,000

and

$63,000,

respectively. Foreign income taxes paid during

2018

and

2017

totaled

$109,000

and

$486,000,

respectively. There were

foreign refunds received in

2018

and

2017.

There were

federal taxes paid in

2018

and

2017,

and there were

federal refunds received in

2018

and

2017.

December

31,

2018,

the Company had

$137,764,000

of federal net operating loss carryforwards available to offset future federal taxable income. The pre-

2018

federal net operating loss carryforwards expire in various amounts from

2026

2037.

Federal net operating loss carryforwards generated in

2018

and forward will have an unlimited carryforward period as part of the Tax Act. The indefinite lived net operating loss carryforwards as of

December 31, 2018

are approximately

$3,186,000.

December

31,

2018,

the Company had

$5,869,000

of state net operating loss carryforwards available to offset future state taxable income, the majority of which relates to Florida and Kentucky. These carryforwards expire in various amounts from

2026

2038.

The following is a reconciliation of income tax (benefit) expense to that computed by applying the federal statutory rate to income (loss) before income taxes (in thousands):

	Year ended December 31,
	2018			2017
Federal tax expense at the statutory rate	$	(779	)	$	(4,004	)
Current year permanent differences		82			239
State income taxes, net of federal tax impact		(118	)		(262	)
Federal tax reform – deferred rate change		0			19,395
State deferred rate change		0			239
Foreign repatriation, net of foreign tax credits		0			(544	)
Effect of tax rates of foreign subsidiaries		154			203
Currency translation effect on temporary differences		189			(372	)
Change in valuation allowance		358			(15,230	)
State NOL carryforwards, stock compensation and other items		(91	)		(282	)
Income tax (benefit) expense, net	$	(205	)	$	(618	)

ASC

740,

Income Taxes

requires that a valuation allowance be established when it is more likely than

not

that all or a portion of a deferred tax asset will

not

be realized. The net cumulative domestic and foreign losses for the current and prior

two

years represents negative evidence under the provisions of ASC

740

requiring the Company to establish a valuation allowance against all U.S. deferred tax assets and a portion of its non-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. and a portion of its non-U.S. tax benefits.

In addition, we remeasured certain net deferred tax assets and liabilities in

2017

based on the tax rates at which they are expected to reverse in the future. The total impact upon enactment of the Tax Act was

$19,395,000,

however, this impact has been offset due to our valuation allowance. The Tax Act also provides that undistributed and previously untaxed post-

1986

foreign earnings will be deemed distributed in

2017.

Additionally, as of

December

31,

2017,

the Company’s U.S. deferred liability for cumulative undistributed earnings has been eliminated.

The gross deferred tax asset for the Company’s Mexican subsidiaries was

$4,434,000

and

$4,942,000

as of

December

31,

2018

and

2017,

respectively.

Deferred income tax assets and liabilities are as follows (in thousands):

	December 31,
	2018			2017
Deferred tax assets:
Compensation and benefit accruals	$	450		$	585
Inventory valuation		759			739
Federal and state net operating loss carryforwards		33,567			32,646
Deferred revenue		90			296
Accounts receivable allowance		11			34
Depreciation		39			0
Defined benefit pension plan		573			802
Foreign deferred revenue and other provisions		4,434			4,942
Other		874			917
Total		40,797			40,961
Domestic valuation allowance		(36,363	)		(35,387	)
Foreign valuation allowance		(4,137	)		(4,942	)
Total deferred tax assets		297			632
Deferred tax liabilities:
Depreciation		0			(632	)
Total deferred tax liabilities		0			(632	)
Net deferred tax asset	$	297		$	0

The ASC Income Tax topic includes guidance for the accounting for uncertainty in income taxes recognized in an enterprise’s financials. Specifically, the guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The total amount of gross unrecognized tax benefits as of

December 31, 2018

and

2017

was

$200,000.

There were

changes to the unrecognized tax benefit balance during the years ended

December

31,

2018

and

2017.

If the Company’s positions are sustained by the taxing authority, the entire balance at

December

31,

2018

would reduce the Company’s effective tax rate. The Company does

not

expect its unrecognized tax benefits to change significantly over the next

months. The Company recognizes accrued interest and penalties related to uncertain tax positions in income tax expense. As of

December

31,

2018

and

2017,

the Company does

not

have an accrual for the payment of tax-related interest and penalties.

The Company files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The Internal Revenue Service (IRS) is

not

currently examining the Company’s U.S. income tax returns for

2015

through

2017,

for which the statute has yet to expire. In addition, open tax years related to state and foreign jurisdictions remain subject to examination.

Note 21 - Loss Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Text Block]

(

)

Loss

Per Common Share

The Company computes earnings per share using the

two

-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

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. All potential common shares were excluded from diluted earnings per share for the year ended

December

31,

2018

and

2017

because the effect of inclusion would be anti-dilutive.

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):

	Year ended December 31,
	2018			2017
Loss attributable to stockholders:
Net loss as reported	$	(3,505	)	$	(10,822	)
Less distributed and undistributed earnings allocable to restricted award holders		0			0
Net loss allocable to common stockholders	$	(3,505	)	$	(10,822	)
Loss per common share attributable to stockholders:
Basic	$	(0.17	)	$	(0.53	)
Diluted	$	(0.17	)	$	(0.53	)
Weighted average shares outstanding – basic		20,512			20,326
Weighted average additional shares assuming conversion of potential common shares		0			0
Weighted average shares outstanding – diluted		20,512			20,326

Note 22 - Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting Disclosure [Text Block]

(

)

Segment Information

The Company is organized into

two

business segments, Sypris Technologies and Sypris Electronics. The segments are each managed separately because of the distinctions between the products, markets, customers, technologies, and workforce skills of the segments. Sypris Technologies generates revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics provides circuit card and box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work to customers in the market for aerospace and defense electronics. There was

intersegment net revenue recognized for any year presented.

The following table presents financial information for the reportable segments of the Company (in thousands):

	Year ended December 31,
	2018			2017
Net revenue from unaffiliated customers:
Sypris Technologies	$	59,816		$	54,891
Sypris Electronics		28,153			27,403
	$	87,969		$	82,294
Gross profit:
Sypris Technologies	$	7,523		$	743
Sypris Electronics		49			2,587
	$	7,572		$	3,330
Operating income (loss):
Sypris Technologies	$	3,207		$	(7,061	)
Sypris Electronics		(2,555	)		147
General, corporate and other		(4,948	)		(5,232	)
	$	(4,296	)	$	(12,146	)
Other income, net:
Sypris Technologies	$	(1,434	)	$	(1,508	)
Sypris Electronics		0			(2	)
General, corporate and other		(2	)		(5	)
	$	(1,436	)	$	(1,515	)
Income (loss) before income taxes:
Sypris Technologies	$	4,349		$	(5,844	)
Sypris Electronics		(2,672	)		150
General, corporate and other		(5,386	)		(5,746	)
	$	(3,710	)	$	(11,440	)
Income tax expense (benefit), net:
Sypris Technologies	$	5		$	194
Sypris Electronics		0			0
General, corporate and other		(210	)		(812	)
	$	(205	)	$	(618	)
Depreciation and amortization:
Sypris Technologies	$	2,029		$	3,399
Sypris Electronics		515			372
General, corporate and other		104			113
	$	2,648		$	3,884

	Year ended December 31,
	2018		2017

Capital expenditures:
Sypris Technologies	$	1,311	$	1,003
Sypris Electronics		173		366
General, corporate and other		567		268
	$	2,051	$	1,637

	December 31,
	2018		2017
Total assets:
Sypris Technologies	$	31,312	$	31,725
Sypris Electronics		19,208		17,440
General, corporate and other		11,048		7,990
	$	61,568	$	57,155
Total liabilities:
Sypris Technologies	$	23,644	$	23,854
Sypris Electronics		15,180		8,352
General, corporate and other		7,910		8,019
	$	46,734	$	40,225

The Company’s export sales from the U.S. totaled

$4,155,000

and

$12,068,000

2018

and

2017,

respectively. Approximately

$39,744,000

and

$22,874,000

of net revenue in

2018

and

2017,

respectively, and

$7,162,000

and

$6,659,000

of long lived assets at

December

31,

2018

and

2017,

respectively, and net assets of

$6,495,000

and

$5,327,000

December

31,

2018

and

2017

relate to the Company’s international operations.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Consolidation Policy

Nature of Business [Policy Text Block]

Nature of Business

two

for additional information regarding our segments.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Estimates

The Company estimates fair value of its financial instruments utilizing an established

three

-level hierarchy. The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date as follows: Level

– Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets. Level

– Valuation is based upon other unobservable inputs that are significant to the fair value measurements.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Equivalents

Cash equivalents include all highly liquid investments with a maturity of

three

months or less when purchased.

Inventory, Policy [Policy Text Block]

Inventory

Inventory is stated at the lower of cost or estimated net realizable value. Costs for raw materials, work in process and finished goods is determined under the

first

-in,

first

-out method. Indirect inventories, which include perishable tooling, repair parts and other materials consumed in the manufacturing process but

not

incorporated into finished products are classified as raw materials.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant and Equipment

years. Estimated economic lives range from

three

fifteen

Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]

Long-lived Assets

The Company reviews the carrying value of amortizable long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset

may

not

Held for sale

one

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Stock-based Compensation

Income Tax, Policy [Policy Text Block]

Income Taxes

not

that such assets will be realized. On

December 22, 2017,

the Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act significantly changes U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to

21%

beginning in

2018

(see Note

not

that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than

50%

likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is

not

more-likely-than-

not

that a tax benefit will be sustained,

tax benefit has been recognized in the financial statements. Where applicable, associated interest has also been recognized.

740,

Income Taxes

. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense.

Cost of Sales, Policy [Policy Text Block]

Net

Revenue

and Cost of Sales

payment discounts, rebates or refunds are included within its contracts. The Company does

not

connected to any repurchase obligation of the Company.

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,

Revenue from Contracts with Customers

(“ASC

606”

Our contract profit margins

may

include estimates of revenues for goods or services on which the customer and the Company have

not

Premiums Receivable, Allowance for Doubtful Accounts, Estimation Methodology, Policy [Policy Text Block]

Allowance for Doubtful Accounts

Standard Product Warranty, Policy [Policy Text Block]

Product Warranty Costs

December

31,

2018

and

2017,

was

$582,000

and

$666,000,

respectively. The Company’s warranty expense for the years ended

December

31,

2018

and

2017

was

$136,000

and

$253,000,

respectively.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

not

40%

of accounts receivable outstanding at

December

31,

2018

is due from

two

customers. More specifically, Northrop Grumman Corporation (Northrop Grumman) and Sistemas Automotrices de Mexico, S.A. de C. V. (Sistemas) comprise

22%

and

18%,

respectively, of

December

31,

2018

outstanding accounts receivables. Approximately

30%

of accounts receivable outstanding at

December

31,

2017

is due from

two

customers. More specifically, Sistemas Automotrices de Mexico, S.A. de C. V. (Sistemas) and Northrop Grumman Corporation (Northrop Grumman) comprise

15%

and

15%,

respectively, of

December

31,

2017

outstanding accounts receivables.

The Company’s largest customers for the year ended

December

31,

2018

were Sistemas, Northrop Grummon and Detroit Diesel, which represented approximately

19%,

14%

and

14%,

December

31,

2017,

which represented approximately

14%,

13%

and

13%,

respectively, of the Company’s total net revenue.

other single customer accounted for more than

10%

of the Company’s total net revenue for the years ended

December

31,

2018

2017.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

Collective Bargaining Agreements [Policy Text Block]

Collective Bargaining Agreements

Approximately

459,

64%

of the Company’s employees, all within Sypris Technologies, were covered by collective bargaining agreements at

December 31, 2018.

Excluding certain Mexico employees covered under an annually ratified agreement, collective bargaining agreements covering

employees expire within the next

months. Certain Mexico employees are covered by an annually ratified collective bargaining agreement. These employees represented approximately

59%

of the Company’s workforce, or

423

employees as of

December

31,

2018.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

2014,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2014

Revenue from Contracts with Customers

(ASC

606

), which supersedes nearly all existing revenue recognition guidance. Subsequent to the issuance of ASU

2014

09,

the FASB clarified the new guidance through several additional ASUs; hereinafter the collection of revenue guidance is referred to as “ASC

606.”

ASC

606

January 1, 2018

using the modified retrospective approach for all contracts

not

completed as of the date of adoption. Results for reporting periods beginning

January

2018

are presented under ASC

606,

while prior period amounts were

not

adjusted and continue to be reported in accordance with the Company’s historic accounting under ASC

605,

Revenue Recognition.

We recorded a net decrease to beginning accumulated deficit of

$170,000

as of

January 1, 2018,

The following table summarizes the cumulative effect of the changes to our consolidated balance sheet as of

January

2018

from the adoption of ASC

606:

							Opening
	Balance at			ASC 606			Balance at
	Dec. 31, 2017			Adjustments			Jan. 1, 2018
Assets
Inventories – net	$	17,641		$	(655	)	$	16,986
Contract assets		0			825			825

Liabilities and Equity
Accumulated deficit	$	(111,591	)	$	170		$	(111,421	)

Under the modified retrospective method of adoption, we are also required to disclose in the

first

year of adoption the hypothetical impact to our financial statements if we had continued to follow our accounting policies under ASC

605

during the period. We estimate that the impact to revenue for the year ended

December

31,

2018

would have been a decrease of

$600,000,

representing the amount of revenue recognized over time versus at a point in time under ASC

606.

Additionally, the adoption of ASC

606

increased our operating loss and net loss by

$106,000,

or less than

$0.01

per share for year ended

December 31, 2018.

The following table summarizes the effect of adopting ASC

606

on our consolidated statement of operations for the year ended

December

31,

2018:

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Net revenue	$	87,369		$	600		$	87,969
Cost of sales		79,691			706			80,397
Gross profit		7,678			(106	)		7,572

Selling, general and administrative		10,474			0			10,474
Severance, equipment relocation and other costs		1,394			0			1,394
Operating loss		(4,190	)		(106	)		(4,296	)

Interest expense, net		850			0			850
Other (income), net		(1,436	)		0			(1,436	)
Loss before taxes		(3,604	)		(106	)		(3,710	)

Income tax (benefit) expense, net		(205	)		0			(205	)

Net loss	$	(3,399	)	$	(106	)	$	(3,505	)

The following table summarizes the cumulative effect of the changes to our consolidated balance sheets as of

December

31,

2018

from the adoption of ASC

606:

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Assets
Inventories – net	$	19,945		$	(1,361	)	$	18,584
Contract assets		0			839			839

Liabilities and Equity
Accumulated deficit	$	(114,989	)	$	63		$	(114,926	)

February 2016,

the FASB issued ASU

No.

2016

02,

Leases

(ASC

842

840,

Leases. The amendments in this ASU are effective for fiscal years beginning after

December 15, 2018,

including interim periods within those fiscal years. In

July 2018,

the FASB issued ASU

No.

2018

11,

Leases

(Topic

842

): Targeted Improvements

not

restated.

The new standard provides a number of optional practical expedients in transition. The Company expects to elect the ‘package of practical expedients’, which permits it

not

) the election for certain classes of underlying asset to

not

separate non-lease components from lease components and (

) the election for short-term lease recognition exemption for all leases that qualify.

The Company will adopt this update beginning on

January 1, 2019

January 1, 2019.

December 31, 2018,

the Company had

$11,273,000

of undiscounted future minimum operating lease commitments that are

not

recognized on its consolidated balance sheets as determined under the current standard. In connection with the adoption of the new guidance, the Company expects to recognize ROU asset in the range of

$7,000,000

$8,000,000,

and lease liabilities in the range of

$7,500,000

$8,500,000

million on its statement of financial position for operating leases and a cumulative effect adjustment to opening retained earnings of

$1,442,000

related to a deferred gain on a sale-leaseback transaction, with limited impact to its results of operations and cash flows.

While substantially complete, the Company is still in the process of finalizing its evaluation of the effect of ASU

842

on the Company’s financial statements and disclosures. The Company will finalize its accounting assessment and quantitative impact of the adoption during the

first

quarter of fiscal year

2019.

As the Company completes its evaluation of this new standard, new information

may

June 2016,

the FASB issued ASU

2016

13,

Credit Losses – Measurement of Credit Losses on Financial Instruments

January 1, 2020,

not

expected to have a material impact on our consolidated financial statements.

October 2016,

the FASB issued ASU

2016

16,

Income Taxes (Topic

740

): Intra-Entity Transfers of Assets Other Than Inventory

. ASU

2016

as of

January 1, 2018

with

material impact on the Company’s consolidated financial statements.

November 2016,

the FASB issued ASU

2016

18,

Restricted Cash

January 1, 2018

using the retrospective method. The adoption of ASU

2016

longer presented as an operating, investing or financing cash flow. For the year ended

December

31,

2017,

cash flow from investing activities decreased by

$1,500,000

as a result of the adoption of this ASU. The Company did

not

have any restricted cash balances as of

December 31, 2018

2017.

March 2017,

the FASB issued ASU

No.

2017

07,

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

(ASU

2017

January 1, 2018,

and as a result operating income increased

$398,000

and other income decreased by

$398,000

for the year ended

December

31,

2017.

The Company used the practical expedient provided in ASU

2017

not

result in any changes to net loss or loss per share. Details of the components of net periodic benefit costs are provided in Note

16.

February 2018,

the FASB issued ASU

No.

2018

02,

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

(ASU

2018

December 15, 2018,

and interim periods within those fiscal years. Early adoption in any period is permitted. The Company does

not

expect the adoption of ASU

2018

to have a material impact on the Company’s consolidated financial statements.

August 2018,

the FASB issued ASU

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

(ASU

2018

). ASU

2018

December 15, 2019

Note 1 - Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

							Opening
	Balance at			ASC 606			Balance at
	Dec. 31, 2017			Adjustments			Jan. 1, 2018
Assets
Inventories – net	$	17,641		$	(655	)	$	16,986
Contract assets		0			825			825

Liabilities and Equity
Accumulated deficit	$	(111,591	)	$	170		$	(111,421	)

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Net revenue	$	87,369		$	600		$	87,969
Cost of sales		79,691			706			80,397
Gross profit		7,678			(106	)		7,572

Selling, general and administrative		10,474			0			10,474
Severance, equipment relocation and other costs		1,394			0			1,394
Operating loss		(4,190	)		(106	)		(4,296	)

Interest expense, net		850			0			850
Other (income), net		(1,436	)		0			(1,436	)
Loss before taxes		(3,604	)		(106	)		(3,710	)

Income tax (benefit) expense, net		(205	)		0			(205	)

Net loss	$	(3,399	)	$	(106	)	$	(3,505	)

	Legacy GAAP			Impact of			As Reported
	Dec. 31, 2018			ASC 606			Dec. 31, 2018
Assets
Inventories – net	$	19,945		$	(1,361	)	$	18,584
Contract assets		0			839			839

Liabilities and Equity
Accumulated deficit	$	(114,989	)	$	63		$	(114,926	)

Note 4 - Exit and Disposal Activities (Tables)

12 Months Ended

Dec. 31, 2018

Restructuring and Related Costs [Table Text Block]

			Costs Incurred
	Year		Total		Remaining
	Total		Ended		Recognized		Costs to be
	Program		Dec. 31, 2018		to date		Recognized
Severance and benefit related costs	$	1,350	$	0	$	1,350	$	0
Asset impairments		188		0		188		0
Equipment relocation costs		1,955		361		1,785		170
Other		1,308		1,033		1,078		230
	$	4,801	$	1,394	$	4,401	$	400

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

	Accrued		Cash		Accrued
	Balance at		Payments		Balance at
	Dec. 31,		2018		or Asset			Dec. 31,
	2017		Charge		Write-Offs			2018
Severance and benefit-related costs	$	145	$	0	$	(145	)	$	0
Equipment relocation costs		0		361		(361	)		0
Other		0		1,033		(1,033	)		0
	$	145	$	1,394	$	(1,539	)	$	0

Disposal Groups, Including Discontinued Operations [Table Text Block]

	December 31,
	2018			2017
Property, plant and equipment	$	11,207		$	28,874
Accumulated depreciation		(9,733	)		(25,976	)
Property, plant and equipment, net	$	1,474		$	2,898

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Note 14 - Debt (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Long-term Debt Instruments [Table Text Block]

	December 31,
	2018			2017
Current:
Current portion of capital lease obligations	$	593		$	829

Long Term:
Note payable – related party	$	6,500		$	6,500
Capital lease obligations		2,804			3,397
Less unamortized debt issuance and modification costs		(51	)		(65	)

Long term debt and capital lease obligations, net of unamortized debt costs	$	9,253		$	9,832

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

2019	$	927
2020		881
2021		580
2022		548
2023		548
Thereafter		1,143
Total future payments		4,627
Less: Amount representing interest		(1,230	)
Present value of future minimum payments		3,397
Less: Current portion		(593	)
Long term portion	$	2,804

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Note 16 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Net Benefit Costs [Table Text Block]

	Year ended December 31,
	2018			2017
Service cost	$	4		$	6
Interest cost on projected benefit obligation		1,315			1,518
Net amortization of actuarial loss		632			693
Expected return on plan assets		(1,363	)		(1,813	)
Net periodic benefit cost	$	588		$	404

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

	December 31,
	2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	39,179		$	39,312
Service cost		4			6
Interest cost		1,315			1,518
Actuarial (gain) loss		(2,913	)		1,278
Benefits paid		(2,895	)		(2,935	)
Benefit obligation at end of year	$	34,690		$	39,179

Change in plan assets:
Fair value of plan assets at beginning of year	$	34,398		$	33,838
Actual return on plan assets		(1,381	)		3,495
Company contributions		77			0
Benefits paid		(2,895	)		(2,935	)
Fair value of plan assets at end of year	$	30,199		$	34,398

Underfunded status of the plans	$	(4,491	)	$	(4,781	)

Balance sheet assets (liabilities):
Other assets	$	138		$	0
Accrued liabilities		(357	)		0
Other liabilities		(4,272	)		(4,781	)
Net amount recognized	$	(4,491	)	$	(4,781	)

Pension plans with accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	23,466		$	26,327
Accumulated benefit obligation		23,466			26,327
Fair value of plan assets		18,838			21,539

	December 31,
	2018				2017
Projected benefit obligation and net periodic pension cost assumptions:
Discount rate – projected benefit obligation			4.25%				3.55%
Discount rate – net periodic pension cost			3.55				4.05
Rate of compensation increase			4.00				4.00
Expected long-term rate of return on plan assets		3.95	–	4.30		5.15	–	6.30

Weighted average asset allocation:
Equity securities			16%				27%
Debt securities			80				71
Other			4				2
Total			100%				100%

Schedule of Allocation of Plan Assets [Table Text Block]

			Significant
	Quoted Prices		Other
	In Active		Observable
	Markets		Inputs
	(Level 1)		(Level 2)
Asset categories:
Cash and cash equivalents	$	1,415	$	0
Equity securities:
U.S. Large Cap		1,590		0
U.S. Mid Cap		967		0
U.S. Small Cap		489		0
World Equity		1,886		0
Real Estate		458		0
Other		690		0
Fixed income securities		5,237		17,467
Total Plan Assets	$	12,732	$	17,467

			Significant
	Quoted Prices		Other
	In Active		Observable
	Markets		Inputs
	(Level 1)		(Level 2)
Asset categories:
Cash and cash equivalents	$	1,090	$	0
Equity securities:
U.S. Large Cap		5,845		0
U.S. Mid Cap		1,343		0
U.S. Small Cap		795		0
World Equity		1,484		0
Real Estate		473		0
Other		147		0
Fixed income securities		6,462		16,759
Total Plan Assets	$	17,639	$	16,759

Schedule of Expected Benefit Payments [Table Text Block]

2019		2,903
2020		2,833
2021		2,787
2022		2,723
2023		2,653
2024-2028		12,130
Total	$	26,029

Note 17 - Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Lessee, Operating Lease, Disclosure [Table Text Block]

2019	$	1,453
2020		1,387
2021		1,430
2022		1,443
2023		1,459
2024 and thereafter		4,101
Total	$	11,273

Note 18 - Stock Option and Purchase Plans (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]

	Year ended December 31,
	2018			2017
Expected life (years)		4.0			4.0
Expected volatility		51.8	%		51.2	%
Risk-free interest rates		2.65	%		1.91	%
Expected dividend yield		0.0	%		0.0	%

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

				Weighted-		Weighted-
				average		average		Aggregate
	Number of			Grant Date		Remaining		Intrinsic
	Shares			Fair Value		Term		Value
Nonvested shares at January 1, 2018		1,029,000		$	1.20
Granted		0			0
Vested		(186,000	)		2.05
Forfeited		0			0
Nonvested shares at December 31, 2018		843,000		$	1.01		0.83	$	902,000

Share-based Compensation, Stock Options, Activity [Table Text Block]

				Weighted-		Weighted-
				average		average		Aggregate
	Number of			Exercise Price		Remaining		Intrinsic
	Shares			Per Share		Term		Value
Outstanding at January 1, 2018		1,821,000		$	1.70
Granted		757,750			1.61
Exercised		0			0
Forfeited		(33,500	)		1.24
Expired		(219,000	)		3.93
Outstanding at December 31, 2018		2,326,250		$	1.47		2.43	$	0
Exercisable at December 31, 2018		524,700		$	2.21		0.81	$	0

Note 19 - Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Stockholders Equity [Table Text Block]

	December 31,
	2018			2017
Foreign currency translation adjustments, net of tax	$	(10,967	)	$	(10,915	)
Employee benefit related adjustments – U.S, net of tax.		(14,177	)		(14,748	)
Employee benefit related adjustments – Mexico, net of tax		302			112

Accumulated other comprehensive loss	$	(24,842	)	$	(25,551	)

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

							Accumulated
	Foreign			Defined			Other
	Currency			Benefit			Comprehensive
	Translation			Plans			Loss
Balance at January 1, 2017	$	(11,334	)	$	(15,264	)	$	(26,598	)
Currency translation adjustments, net of tax		419			0			419
Net actuarial gain for the year, net of tax		0			205			205
Amortization for the year, net of tax		0			423			423

Balance at December 31, 2017		(10,915	)		(14,636	)		(25,551	)

Currency translation adjustments, net of tax		(52	)		0			(52	)
Net actuarial gain for the year, net of tax		0			276			276
Amortization for the year, net of tax		0			485			485

Balance at December 31, 2018	$	(10,967	)	$	(13,875	)	$	(24,842	)

Note 20 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year ended December 31,
	2018			2017
Domestic	$	(5,331	)	$	(7,328	)
Foreign		1,621			(4,112	)
Total	$	(3,710	)	$	(11,440	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year ended December 31,
	2018			2017
Current:
Federal	$	0		$	(184	)
State		2			39
Foreign		302			194
Total current income tax expense		304			49
Deferred:
Federal		(191	)		(600	)
State		(21	)		(67	)
Foreign		(297	)		0
Total deferred income tax (benefit) expense		(509	)		(667	)

Income tax (benefit) expense, net	$	(205	)	$	(618	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year ended December 31,
	2018			2017
Federal tax expense at the statutory rate	$	(779	)	$	(4,004	)
Current year permanent differences		82			239
State income taxes, net of federal tax impact		(118	)		(262	)
Federal tax reform – deferred rate change		0			19,395
State deferred rate change		0			239
Foreign repatriation, net of foreign tax credits		0			(544	)
Effect of tax rates of foreign subsidiaries		154			203
Currency translation effect on temporary differences		189			(372	)
Change in valuation allowance		358			(15,230	)
State NOL carryforwards, stock compensation and other items		(91	)		(282	)
Income tax (benefit) expense, net	$	(205	)	$	(618	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2018			2017
Deferred tax assets:
Compensation and benefit accruals	$	450		$	585
Inventory valuation		759			739
Federal and state net operating loss carryforwards		33,567			32,646
Deferred revenue		90			296
Accounts receivable allowance		11			34
Depreciation		39			0
Defined benefit pension plan		573			802
Foreign deferred revenue and other provisions		4,434			4,942
Other		874			917
Total		40,797			40,961
Domestic valuation allowance		(36,363	)		(35,387	)
Foreign valuation allowance		(4,137	)		(4,942	)
Total deferred tax assets		297			632
Deferred tax liabilities:
Depreciation		0			(632	)
Total deferred tax liabilities		0			(632	)
Net deferred tax asset	$	297		$	0

Note 22 - Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Year ended December 31,
	2018			2017
Net revenue from unaffiliated customers:
Sypris Technologies	$	59,816		$	54,891
Sypris Electronics		28,153			27,403
	$	87,969		$	82,294
Gross profit:
Sypris Technologies	$	7,523		$	743
Sypris Electronics		49			2,587
	$	7,572		$	3,330
Operating income (loss):
Sypris Technologies	$	3,207		$	(7,061	)
Sypris Electronics		(2,555	)		147
General, corporate and other		(4,948	)		(5,232	)
	$	(4,296	)	$	(12,146	)
Other income, net:
Sypris Technologies	$	(1,434	)	$	(1,508	)
Sypris Electronics		0			(2	)
General, corporate and other		(2	)		(5	)
	$	(1,436	)	$	(1,515	)
Income (loss) before income taxes:
Sypris Technologies	$	4,349		$	(5,844	)
Sypris Electronics		(2,672	)		150
General, corporate and other		(5,386	)		(5,746	)
	$	(3,710	)	$	(11,440	)
Income tax expense (benefit), net:
Sypris Technologies	$	5		$	194
Sypris Electronics		0			0
General, corporate and other		(210	)		(812	)
	$	(205	)	$	(618	)
Depreciation and amortization:
Sypris Technologies	$	2,029		$	3,399
Sypris Electronics		515			372
General, corporate and other		104			113
	$	2,648		$	3,884

	Year ended December 31,
	2018		2017

Capital expenditures:
Sypris Technologies	$	1,311	$	1,003
Sypris Electronics		173		366
General, corporate and other		567		268
	$	2,051	$	1,637

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	December 31,
	2018		2017
Total assets:
Sypris Technologies	$	31,312	$	31,725
Sypris Electronics		19,208		17,440
General, corporate and other		11,048		7,990
	$	61,568	$	57,155
Total liabilities:
Sypris Technologies	$	23,644	$	23,854
Sypris Electronics		15,180		8,352
General, corporate and other		7,910		8,019
	$	46,734	$	40,225

Note 1 - Organization and Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Jan. 01, 2018 USD ($)
Number of Operating Segments	2
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Standard and Extended Product Warranty Accrual, Ending Balance	$ 582,000	$ 666,000
Product Warranty Expense	$ 136,000	253,000
Multi Employer Plans Collective Bargaining Arrangement Number of Participants	459
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Participants	64.00%
Retained Earnings (Accumulated Deficit), Ending Balance	$ (114,926,000)	(111,591,000)	$ (111,421,000)
Revenue from Contract with Customer, Including Assessed Tax	87,969,000	82,294,000
Net Income (Loss) Attributable to Parent, Total	$ (3,505,000)	$ (10,822,000)
Earnings Per Share, Basic, Total \| $ / shares	$ (0.17)	$ (0.53)
Operating Leases, Future Minimum Payments Due, Total	$ 11,273,000
Operating Income (Loss), Total	(4,296,000)	$ (12,146,000)
Other Nonoperating Income (Expense), Total	1,436,000	1,515,000
Accounting Standards Update 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance			$ 170,000
Accounting Standards Update 2014-09 [Member] \| Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance	63,000
Revenue from Contract with Customer, Including Assessed Tax	600,000
Net Income (Loss) Attributable to Parent, Total	$ (106,000)
Earnings Per Share, Basic, Total \| $ / shares	$ (0.01)
Operating Income (Loss), Total	$ (106,000)
Other Nonoperating Income (Expense), Total	0
Accounting Standards Update 2018-11 [Member]
Operating Leases, Future Minimum Payments Due, Total	11,273,000
Cumulative Effect on Retained Earnings, Net of Tax, Total	$ 1,442,000
Accounting Standards Update 2016-18 [Member]
Cash, Period Increase (Decrease), Total		(1,500,000)
Accounting Standards Update 2017-07 [Member]
Operating Income (Loss), Total		398,000
Other Nonoperating Income (Expense), Total		$ 398,000
Collective Bargaining Agreements That Expire in Next 12 Months [Member]
Multi Employer Plans Collective Bargaining Arrangement Number of Participants	36
Employee Benefit Related Adjustments Mexico [Member]
Multi Employer Plans Collective Bargaining Arrangement Number of Participants	423
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Participants	59.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Concentration Risk, Percentage	40.00%	30.00%
Number of Major Customers	2	2
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer Sistemas [Member]
Concentration Risk, Percentage	22.00%	15.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Northrop Grumman [Member]
Concentration Risk, Percentage	18.00%	15.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Customer Sistemas [Member]
Concentration Risk, Percentage	19.00%	13.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Northrop Grumman [Member]
Concentration Risk, Percentage	14.00%	13.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Customer Detroit Diesel [Member]
Concentration Risk, Percentage	14.00%	14.00%
Minimum [Member] \| Accounting Standards Update 2018-11 [Member]
Operating Lease, Right-of-Use Asset	$ 7,000,000
Operating Lease, Liability, Total	7,500,000
Maximum [Member] \| Accounting Standards Update 2018-11 [Member]
Operating Lease, Right-of-Use Asset	8,000,000
Operating Lease, Liability, Total	$ 8,500,000
Land, Buildings and Improvements [Member]
Property, Plant and Equipment, Useful Life	40 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years

Note 1 - Organization and Significant Accounting Policies - Adoption of ASC 606 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Inventory, net	$ 18,584,000	$ 17,641,000	$ 16,986,000
Contract assets	839,000	0	825,000
Accumulated deficit	(114,926,000)	(111,591,000)	(111,421,000)
Net revenue	87,969,000	82,294,000
Cost of sales	80,397,000	78,964,000
Gross profit	7,572,000	3,330,000
Selling, general and administrative	10,474,000	13,078,000
Severance, equipment relocation and other costs	1,394,000	2,360,000
Operating loss	(4,296,000)	(12,146,000)
Interest expense, net	850,000	809,000
Other (income), net	(1,436,000)	(1,515,000)
Loss before income taxes	(3,710,000)	(11,440,000)
Income tax (benefit) expense, net	(205,000)	(618,000)
Net loss	(3,505,000)	$ (10,822,000)
Accounting Standards Update 2014-09 [Member]
Inventory, net			(655,000)
Contract assets			825,000
Accumulated deficit			$ 170,000
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Inventory, net	19,945,000
Contract assets	0
Accumulated deficit	(114,989,000)
Net revenue	87,369,000
Cost of sales	79,691,000
Gross profit	7,678,000
Selling, general and administrative	10,474,000
Severance, equipment relocation and other costs	1,394,000
Operating loss	(4,190,000)
Interest expense, net	850,000
Other (income), net	(1,436,000)
Loss before income taxes	(3,604,000)
Income tax (benefit) expense, net	(205,000)
Net loss	(3,399,000)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] \| Accounting Standards Update 2014-09 [Member]
Inventory, net	(1,361,000)
Contract assets	839,000
Accumulated deficit	63,000
Net revenue	600,000
Cost of sales	706,000
Gross profit	(106,000)
Selling, general and administrative	0
Severance, equipment relocation and other costs	0
Operating loss	(106,000)
Interest expense, net	0
Other (income), net	0
Loss before income taxes	(106,000)
Income tax (benefit) expense, net	0
Net loss	$ (106,000)

Note 2 - Revenue from Contracts with Customers 1 (Details Textual) - USD ($)	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Remaining Performance Obligation, Amount	$ 15,867,000
Contract with Customer, Asset, Net, Current, Total	839,000	$ 825,000	$ 0
Contract with Customer, Liability, Current	1,121,000
Other Current Assets [Member]
Contract with Customer, Asset, Net, Current, Total	839,000	825,000
Accrued Liabilities [Member]
Contract with Customer, Liability, Current	$ 8,369,000	$ 1,509,000

Note 2 - Revenue from Contracts with Customers 2 (Details Textual)	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Percentage	58.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Percentage	30.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Note 2 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net revenue	$ 87,969	$ 82,294
Sypris Technologies [Member]
Net revenue	59,816	54,891
Sypris Technologies [Member] \| Transferred at Point in Time [Member]
Net revenue	59,816
Sypris Electronics [Member]
Net revenue	28,153	$ 27,403
Sypris Electronics [Member] \| Transferred at Point in Time [Member]
Net revenue	5,800
Sypris Electronics [Member] \| Transferred over Time [Member]
Net revenue	$ 22,353

Note 4 - Exit and Disposal Activities (Details Textual) - Transition of Production from the Broadway Plant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restructuring and Related Costs, Incurred Cost, Total	$ 1,394,000	$ 2,360,000
Restructuring and Related Cost, Incurred Cost, Per Share	$ 0.07	$ 0.12
Restructuring Charges, Total	$ 1,394,000
Restructuring and Related Cost, Expected Cost Remaining	400,000
Sypris Electronics [Member]
Restructuring and Related Cost, Expected Cost Remaining	400,000
Equipment Relocation Costs [Member]
Restructuring Charges, Total	361,000	$ 1,424,000
Restructuring and Related Cost, Expected Cost Remaining	170,000
Facility Closing [Member]
Restructuring Charges, Total	1,033,000
Employee Severance [Member]
Restructuring Charges, Total	0	$ 936,000
Restructuring and Related Cost, Expected Cost Remaining	$ 0

Note 4 - Exit and Disposal Activities - Summary of Pre-tax Restructuring Chargers (Details) - Transition of Production from the Broadway Plant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Total Program	$ 4,801,000
Costs Incurred	1,394,000
Recognized Costs	4,401,000
Remaining Costs to be Recognized	400,000
Employee Severance [Member]
Total Program	1,350,000
Costs Incurred	0	$ 936,000
Recognized Costs	1,350,000
Remaining Costs to be Recognized	0
Asset Impairment [Member]
Total Program	188,000
Costs Incurred	0
Recognized Costs	188,000
Remaining Costs to be Recognized	0
Equipment Relocation Costs [Member]
Total Program	1,955,000
Costs Incurred	361,000	$ 1,424,000
Recognized Costs	1,785,000
Remaining Costs to be Recognized	170,000
Other Restructuring [Member]
Total Program	1,308,000
Costs Incurred	1,033,000
Recognized Costs	1,078,000
Remaining Costs to be Recognized	$ 230,000

Note 4 - Exit and Disposal Activities - Costs and Related Restructuring Reserves (Details) - Transition of Production from the Broadway Plant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accrued, Beginning Balance	$ 145,000
Costs Incurred	1,394,000
Cash Payments or Asset Write-Offs	(1,539,000)
Accrued, Ending Balance	0	$ 145,000
Employee Severance [Member]
Accrued, Beginning Balance	145,000
Costs Incurred	0	936,000
Cash Payments or Asset Write-Offs	(145,000)
Accrued, Ending Balance	0	145,000
Equipment Relocation Costs [Member]
Accrued, Beginning Balance	0
Costs Incurred	361,000	1,424,000
Cash Payments or Asset Write-Offs	(361,000)
Accrued, Ending Balance	0	0
Other Restructuring [Member]
Accrued, Beginning Balance	0
Costs Incurred	1,033,000
Cash Payments or Asset Write-Offs	(1,033,000)
Accrued, Ending Balance	$ 0	$ 0

Note 4 - Exit and Disposal Activities - Segregation of Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, plant and equipment	$ 11,207	$ 28,874
Accumulated depreciation	(9,733)	(25,976)
Property, plant and equipment, net	$ 1,474	$ 2,898

Note 6 - Other Income, Net (Details Textual) - USD ($)	12 Months Ended
Note 6 - Other Income, Net (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ 584,000	$ 398,000
Gain on Business Interruption Insurance Recovery	2,275,000	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	(249,000)	2,668,000
Foreign Currency Transaction Gain (Loss), before Tax, Total	21,000	773,000
Other Nonoperating Income (Expense), Total	$ 1,436,000	1,515,000
Sypris Technologies [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property		$ 2,668,000

Note 7 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Account receivable, long-term contracts or programs	$ 9,962	$ 9,464
Allowance for doubtful accounts	(81)	(147)
Net	$ 9,881	$ 9,317

Note 8 - Inventory - Inventory Components (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Raw materials	$ 12,354		$ 10,011
Work in process	6,331		7,150
Finished goods	1,313		1,645
Reserve for excess and obsolete inventory	(1,414)		(1,165)
Total	$ 18,584	$ 16,986	$ 17,641

Note 9 - Other Current Assets - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Prepaid expenses	$ 576		$ 571
Contract assets	839	$ 825	0
Other	3,340		1,432
Total	$ 4,755		$ 2,003

Note 10 - Property, Plant and Equipment - Property, Plant and Equipment Components (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Gross property, plant and equipment	$ 72,717	$ 66,911
Accumulated depreciation	(58,062)	(51,337)
Property plant and equipment net	14,655	15,574
Capital Leased Assets, Gross	4,272	4,264
Accumulated depreciation	(976)	(548)
Capital Leased Assets, Net	3,296	3,716
Land and Land Improvements [Member]
Gross property, plant and equipment	219	219
Building and Building Improvements [Member]
Gross property, plant and equipment	11,178	11,140
Capital Leased Assets, Gross	2,995	2,987
Machinery, Equipment, Furniture, and Fixtures [Member]
Capital Leased Assets, Gross	1,277	1,277
Property, Plant and Equipment, Other Types [Member]
Gross property, plant and equipment	59,179	54,554
Construction in Progress [Member]
Gross property, plant and equipment	$ 2,141	$ 998

Note 11 - Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long term spare parts	$ 646	$ 871
Long term deposits	507	578
Other	362	129
Total	$ 1,515	$ 1,578

Note 12 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Salaries, wages, employment taxes and withholdings	$ 2,019	$ 1,720
Employee benefit plans	1,050	703
Accrued professional fees	821	3,596
Income, property and other taxes	453	387
Contract liabilities	8,369	1,509
Deferred gain from sale-leaseback	500	499
Exit and disposal activity accruals	0	145
Other	1,753	1,771
Total	$ 14,965	$ 10,330

Note 13 - Other Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Noncurrent pension liability	$ 4,272	$ 4,781
Deferred gain from sale leaseback	3,093	3,576
Other	1,131	412
Total	$ 8,496	$ 8,769

Note 14 - Debt (Details Textual)				1 Months Ended	12 Months Ended
Note 14 - Debt (Details Textual)	Apr. 01, 2019	Mar. 09, 2016 USD ($) a	Mar. 09, 2016 MXN ($) a	Jan. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Aug. 31, 2016 USD ($)
Long-term Debt, Weighted Average Interest Rate, at Point in Time					8.00%	8.00%
Interest Costs Capitalized					$ 0	$ 0
Interest Paid, Excluding Capitalized Interest, Operating Activities					526,000	526,000
Capital Lease Obligations, Total				$ 1,277,000	698,000
Capital Lease Obligations [Member]
Debt Instrument, Term				3 years
Toluca [Member]
Sale Leaseback Transaction, Amount Due under Financing Arrangement					2,699,000
Toluca [Member] \| Sypris Technologies Mexico, S. de R.L. de C.V. [Member]
Area of Land \| a		24	24
Sale Leaseback Transaction, Net Proceeds, Investing Activities, Total		$ 12,182,000	$ 215,000,000
Sale Leaseback Transaction, Term of Lease		10 years	10 years
Sale Leaseback Transaction, Portion of Real Estate Property Leased Back to Seller \| a		9	9
Promissory Note [Member] \| Gill Family Capital Management [Member]
Subordinated Debt, Ending Balance					$ 6,500,000	$ 6,500,000	$ 6,500,000
Debt Instrument, Interest Rate, Stated Percentage					8.00%
Promissory Note [Member] \| Gill Family Capital Management [Member] \| Five-year Treasury Note Average During Preceding 90-day Period [Member] \| Scenario, Forecast [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
Promissory Notes with Maturity on April 1, 2021 and April 1, 2023 [Member] \| Gill Family Capital Management [Member]
Debt Instrument, Allowance for Payment Deferral Period					1 year 180 days
Debt Instrument, Maximum Allowance of Interest Due on Deferred Payments, Percent					60.00%

Note 14 - Debt - Debt Components (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current portion of capital lease obligations	$ 593	$ 829
Note payable – related party	6,500	6,500
Capital lease obligations	2,804	3,397
Less unamortized debt issuance and modification costs	(51)	(65)
Long term debt and capital lease obligations, net of unamortized debt costs	$ 9,253	$ 9,832

Note 14 - Debt - Capital Lease Future Minimum Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
2019	$ 927
2020	881
2021	580
2022	548
2023	548
Thereafter	1,143
Total future payments	4,627
Less: Amount representing interest	(1,230)
Present value of future minimum payments	3,397
Less: Current portion	(593)	$ (829)
Long term portion	$ 2,804	$ 3,397

Note 16 - Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Highest Average Compensation Period	5 years
Defined Benefit Plan Maximum Period Allocated for Calculating Average Compensation	10 years
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	$ 285,000
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax, Total	(13,777,000)
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year	(674,000)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax, Total	$ 632,000	$ 693,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%
Defined Contribution Plan [Member]
Defined Contribution Plan, Cost	$ 428,000	530,000
Non US Employees Defined Benefit Plan [Member]
Defined Benefit Plan, Plan Assets, Administration Expense	$ 41,000	$ 20,000
Louisville Hourly Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	3.95%
Marion Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.30%
Louisville Salaried Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.20%
Minimum [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	3.95%	5.15%
Maximum [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.30%	6.30%
Equity Securities [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Equity Securities [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	55.00%
Fixed Income Securities [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	35.00%
Fixed Income Securities [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100.00%
Non Traditional Securities [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Non Traditional Securities [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10.00%

Note 16 - Employee Benefit Plans - Components of Pension Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Service cost	$ 4	$ 6
Interest cost	1,315	1,518
Net amortization of actuarial loss	632	693
Expected return on plan assets	(1,363)	(1,813)
Net periodic benefit cost	$ 588	$ 404

Note 16 - Employee Benefit Plans - Summaries of Changes in Benefit Obligations and Plan Assets and of Funded Status of Pension Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation:
Benefit obligation at beginning of year	$ 39,179	$ 39,312
Service cost	4	6
Interest cost	1,315	1,518
Actuarial (gain) loss	(2,913)	1,278
Benefits paid	(2,895)	(2,935)
Benefit obligation at end of year	34,690	39,179
Change in plan assets:
Fair value of plan assets at beginning of year	34,398	33,838
Actual return on plan assets	(1,381)	3,495
Company contributions	77	0
Benefits paid	(2,895)	(2,935)
Fair value of plan assets at end of year	30,199	34,398
Underfunded status of the plans	(4,491)	(4,781)
Balance sheet assets (liabilities):
Other assets	138	0
Accrued liabilities	(357)	0
Other liabilities	(4,272)	(4,781)
Net amount recognized	(4,491)	(4,781)
Pension plans with accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	23,466	26,327
Accumulated benefit obligation	23,466	26,327
Fair value of plan assets	$ 18,838	$ 21,539
Discount rate – projected benefit obligation	4.25%	3.55%
Discount rate – net periodic pension cost	3.55%	4.05%
Rate of compensation increase	4.00%	4.00%
Equity securities	100.00%	100.00%
Equity Securities [Member]
Pension plans with accumulated benefit obligation in excess of plan assets:
Equity securities	16.00%	27.00%
Debt Securities [Member]
Pension plans with accumulated benefit obligation in excess of plan assets:
Equity securities	80.00%	71.00%
Other [Member]
Pension plans with accumulated benefit obligation in excess of plan assets:
Equity securities	4.00%	2.00%
Minimum [Member]
Pension plans with accumulated benefit obligation in excess of plan assets:
Expected long-term rate of return on plan assets	3.95%	5.15%
Maximum [Member]
Pension plans with accumulated benefit obligation in excess of plan assets:
Expected long-term rate of return on plan assets	4.30%	6.30%

Note 16 - Employee Benefit Plans - Summary of Fair Values of Pension Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair value of plan assets	$ 30,199	$ 34,398	$ 33,838
Fair Value, Inputs, Level 1 [Member]
Fair value of plan assets	12,732	17,639
Fair Value, Inputs, Level 1 [Member] \| Cash and Cash Equivalents [Member]
Fair value of plan assets	1,415	1,090
Fair Value, Inputs, Level 1 [Member] \| Defined Benefit Plan, Equity Securities, US, Large Cap [Member]
Fair value of plan assets	1,590	5,845
Fair Value, Inputs, Level 1 [Member] \| Defined Benefit Plan, Equity Securities, US, Mid Cap [Member]
Fair value of plan assets	967	1,343
Fair Value, Inputs, Level 1 [Member] \| Defined Benefit Plan, Equity Securities, US, Small Cap [Member]
Fair value of plan assets	489	795
Fair Value, Inputs, Level 1 [Member] \| Defined Benefit Plan, Equity Securities, Non-US [Member]
Fair value of plan assets	1,886	1,484
Fair Value, Inputs, Level 1 [Member] \| Real Estate [Member]
Fair value of plan assets	458	473
Fair Value, Inputs, Level 1 [Member] \| Other Equity Securities [Member]
Fair value of plan assets	690	147
Fair Value, Inputs, Level 1 [Member] \| Fixed Income Securities [Member]
Fair value of plan assets	5,237	6,462
Fair Value, Inputs, Level 2 [Member]
Fair value of plan assets	17,467	16,759
Fair Value, Inputs, Level 2 [Member] \| Cash and Cash Equivalents [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Defined Benefit Plan, Equity Securities, US, Large Cap [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Defined Benefit Plan, Equity Securities, US, Mid Cap [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Defined Benefit Plan, Equity Securities, US, Small Cap [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Defined Benefit Plan, Equity Securities, Non-US [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Real Estate [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Other Equity Securities [Member]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| Fixed Income Securities [Member]
Fair value of plan assets	$ 17,467	$ 16,759

Note 16 - Employee Benefit Plans - Benefits Expected to be Paid (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019	$ 2,903
2020	2,833
2021	2,787
2022	2,723
2023	2,653
2024-2028	12,130
Total	$ 26,029

Note 17 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Operating Leases, Rent Expense, Net, Total		$ 1,415,000	$ 1,427,000
Purchase Obligation, Total		12,027,000
Accrual for Environmental Loss Contingencies, Ending Balance		0	0
Inventory, Net, Total		18,584,000	17,641,000	$ 16,986,000
Revenue from Contract with Customer, Including Assessed Tax		87,969,000	82,294,000
Inventory Valuation Reserves, Ending Balance		1,414,000	1,165,000
Gain (Loss) Related to Litigation Settlement, Total		1,890,000	$ 0
Selling, General and Administrative Expenses [Member]
Gain (Loss) Related to Litigation Settlement, Total		1,890,000
New Supply Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax		293,000
Inventory Valuation Reserves, Ending Balance		246,000
New Supply Agreement [Member] \| Scenario, Forecast [Member]
Increase (Decrease), Inventory Valuation Reserves	$ 513,000
Customer Lawsuit Against Distributor [Member] \| Inventory Related to Customer Involved in Lawsuit Against Distributor [Member]
Inventory, Net, Total		$ 759,000

Note 17 - Commitments and Contingencies - Future Minimum Annual Lease Commitment Under Operating Leases (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019	$ 1,453
2020	1,387
2021	1,430
2022	1,443
2023	1,459
2024 and thereafter	4,101
Total	$ 11,273

Note 18 - Stock Option and Purchase Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	544,771	1,314,021
Allocated Share-based Compensation Expense, Total	$ 637,000	$ 730,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.69	$ 0.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 677,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 184,000	$ 228,000
The 2010 Sypris Omnibus Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award Award Lapsing Restrictions Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
The 2015 Omnibus Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award Award Lapsing Restrictions Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Employee Stock Option [Member] \| The 2010 Sypris Omnibus Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	3,655,088
Employee Stock Option [Member] \| The 2015 Omnibus Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	3,476,021
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 381,000	$ 408,000

Note 18 - Stock Option and Purchase Plans - Estimate Fair Value of Options Granted (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Expected life (years) (Year)	4 years	4 years
Expected volatility	51.80%	51.20%
Risk-free interest rates	2.65%	1.91%
Expected dividend yield	0.00%	0.00%

Note 18 - Stock Option and Purchase Plan - Summary of Restricted Stock Activity (Details)	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Novested shares (in shares) \| shares	1,029,000
Nonvested shares, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 1.20
Granted (in shares) \| shares	0
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0
Vested (in shares) \| shares	(186,000)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 2.05
Forfeited (in shares) \| shares	0
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0
Nonvested shares (in shares) \| shares	843,000
Nonvested shares, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 1.01
Nonvested, weighted average remaining term (Year)	302 days
Nonvested, aggregate intrinsic value \| $	$ 902,000

Note 18 - Stock Option and Purchase Plan - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Outstanding (in shares)	1,821,000
Outstanding, weighted average exercise price per share (in dollars per share)	$ 1.70
Granted (in shares)	757,750
Granted, weighted average exercise price per share (in dollars per share)	$ 1.61
Exercised (in shares)	0	0
Exercised, weighted average exercise price per share (in dollars per share)	$ 0
Forfeited (in shares)	(33,500)
Forfeited, weighted average exercise price per share (in dollars per share)	$ 1.24
Expired (in shares)	(219,000)
Expired, weighted average exercise price per share (in dollars per share)	$ 3.93
Outstanding (in shares)	2,326,250	1,821,000
Outstanding, weighted average exercise price per share (in dollars per share)	$ 1.47	$ 1.70
Outstanding, weighted average remaining term (Year)	2 years 156 days
Outstanding, aggregate intrinsic value	$ 0
Exercisable (in shares)	524,700
Exercisable, weighted average exercise price per share (in dollars per share)	$ 2.21
Exercisable, weighted average remaining term (Year)	295 days
Exercisable, aggregate intrinsic value	$ 0

Note 19 - Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Foreign currency translation adjustments, net of tax	$ (10,967)	$ (10,915)
Accumulated other comprehensive loss	(24,842)	(25,551)
Internal Revenue Service (IRS) [Member]
Employee benefit related adjustments, net of tax	(14,177)	(14,748)
Mexican Tax Authority [Member]
Employee benefit related adjustments, net of tax	$ 302	$ 112

Note 19 - Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Balance	$ 16,930
Foreign currency translation adjustments, net of a tax benefit of $18 and tax expense of $267 in 2018 and 2017, respectively	(52)	$ 419
Balance	14,834	16,930
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(10,915)	(11,334)
Foreign currency translation adjustments, net of a tax benefit of $18 and tax expense of $267 in 2018 and 2017, respectively	(52)	419
Net actuarial gain for the year, net of tax	0	0
Amortization for the year, net of tax	0	0
Balance	(10,967)	(10,915)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(14,636)	(15,264)
Foreign currency translation adjustments, net of a tax benefit of $18 and tax expense of $267 in 2018 and 2017, respectively	0	0
Net actuarial gain for the year, net of tax	276	205
Amortization for the year, net of tax	485	423
Balance	(13,875)	(14,636)
AOCI Attributable to Parent [Member]
Balance	(25,551)	(26,598)
Foreign currency translation adjustments, net of a tax benefit of $18 and tax expense of $267 in 2018 and 2017, respectively	(52)	419
Net actuarial gain for the year, net of tax	276	205
Amortization for the year, net of tax	485	423
Balance	$ (24,842)	$ (25,551)

Note 20 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 20 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, Percent, Total	23.30%
Deferred Federal, State and Local, Tax Expense (Benefit), Total	$ (212,000)	$ (667,000)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total	212,000	667,000
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		19,395,000
Deferred Tax Assets, Foreign Deferred Revenue and Other Provision	4,434,000	4,942,000
Unrecognized Tax Benefits, Ending Balance	200,000	200,000
Mexican Subsidiaries [Member]
Deferred Tax Assets, Foreign Deferred Revenue and Other Provision	4,434,000	4,942,000
State and Local Jurisdiction [Member]
Income Taxes Paid	33,000	110,000
Proceeds from Income Tax Refunds	12,000	63,000
Operating Loss Carryforwards, Total	5,869,000
Foreign Tax Authority [Member]
Income Taxes Paid	109,000	486,000
Proceeds from Income Tax Refunds	0	0
Domestic Tax Authority [Member]
Income Taxes Paid	0	0
Proceeds from Income Tax Refunds	0	$ 0
Operating Loss Carryforwards, Total	137,764,000
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	$ 3,186,000

Note 20 - Income Taxes - Components of Income (Loss) From Continuing Operations Before Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Domestic	$ (5,331)	$ (7,328)
Foreign	1,621	(4,112)
(Loss) income before income taxes	$ (3,710)	$ (11,440)

Note 20 - Income Taxes - Components of Income Tax Expense (Benefit) Applicable to Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 0	$ (184)
State	2	39
Foreign	302	194
Total current income tax expense	304	49
Deferred:
Federal	(191)	(600)
State	(21)	(67)
Foreign	(297)	0
Total deferred income tax (benefit) expense	(509)	(667)
Income tax (benefit) expense, net	$ (205)	$ (618)

Note 20 - Income Taxes - Summary of Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Federal tax expense at the statutory rate	$ (779)	$ (4,004)
Current year permanent differences	82	239
State income taxes, net of federal tax impact	(118)	(262)
Federal tax reform – deferred rate change	0	19,395
State deferred rate change	0	239
Foreign repatriation, net of foreign tax credits	0	(544)
Effect of tax rates of foreign subsidiaries	154	203
Currency translation effect on temporary differences	189	(372)
Change in valuation allowance	358	(15,230)
State NOL carryforwards, stock compensation and other items	(91)	(282)
Income tax (benefit) expense, net	$ (205)	$ (618)

Note 20 - Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Compensation and benefit accruals	$ 450	$ 585
Inventory valuation	759	739
Federal and state net operating loss carryforwards	33,567	32,646
Deferred revenue	90	296
Accounts receivable allowance	11	34
Depreciation	39	0
Defined benefit pension plan	573	802
Foreign deferred revenue and other provisions	4,434	4,942
Other	874	917
Total	40,797	40,961
Domestic valuation allowance	(36,363)	(35,387)
Foreign valuation allowance	(4,137)	(4,942)
Total deferred tax assets	297	632
Deferred tax liabilities:
Depreciation	0	(632)
Total deferred tax liabilities	0	(632)
Net deferred tax asset	$ 297	$ 0

Note 21 - 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, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net loss	$ (3,505)	$ (10,822)
Less distributed and undistributed earnings allocable to restricted award holders	0	0
Net loss allocable to common stockholders	$ (3,505)	$ (10,822)
Basic (in dollars per share)	$ (0.17)	$ (0.53)
Diluted (in dollars per share)	$ (0.17)	$ (0.53)
Basic (in shares)	20,512	20,326
Weighted average additional shares assuming conversion of potential common shares (in shares)	0	0
Weighted average shares outstanding – diluted (in shares)	20,512	20,326

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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