morning, good and you, everyone. Thank
the I Rich to the to full for you like call Davis company's XXXX. the results review and this to purpose welcome is and would of quarter fourth financial year which
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Slide overview with the begin let's on Now X.
XXX% our from supported XXX% continued year-over-year to for quarter year-over-year Sypris quarter each report strength the compared for and profit for X.X% share a the third earnings sequentially, increased and chain. reflecting and year. growth last the supply increase XX% the third well-reported Technologies, XXXX. sequentially, of were an Electronics expansion to Orders of $X.XX while $X.XX increased share business quarter quarter the XXX% to for quarter and sequentially Gross revenue year-over-year reflected per rose improvement of XX.X% The We year-over-year company pleased sequentially, segments and challenges the which Sypris a that the despite of Both backlog segments. of are reported across when per for by XXX% contributed year-over-year each up of increased XX.X% sequentially. the XX% XXX%
of Sypris increased jumped Electronics Quarterly up year-over-year XXX% $XXX.X year-over-year, to and million $XX.X for orders million climbed $XX.X revenue end and while XXXX, XX% million at backlog up the sequentially.
during for Technologies a segment's increased In energy the Sypris backlog in orders products a while XX% year-over-year increased resulting fashion, revenue in year-end. similar year-over-year, at for XX% XX% the increase period
the agreement, to the the for production we'd conjunction to during Slide when that shipments been amendment, include October, options, $XX up increase the scheduled year We've base production in a the In from volume In of contract Sypris early contract, we representing in assemblies to over amended Navy to provides with of of now we compared Sypris to received quarter, electronic announced The new of with term an more of begin XX% multiyear additional original releases purchase announced agreement amendment to at potential announce into in for also the logic XXXX. million now the an existing the a first mission-critical X. including large XXXX. contract program. early assemblies several for Turning pleased Electronics. awards supply specifically entered power to
will threats provide jam warship, the the to adapt capability be The be multifunction and threaten while to electronic the guided systems portion will will into the integrated waveforms, threats. additional quickly be options countermeasures and cost, missiles enhanced mission-critical produced deployed an future cue capability to U.S. U.S. capabilities non-kinetic upgrade to sources, for improvement that the system the for critical integrated by Sypris program The presenting Navy in U.S. to electronic against incoming improvements warfare According applications can the reductions size, a to to of provide the attack evolving actively multi-role Navy. that communications opportunities modules in The electronic new according further the to will reported Institute radio-frequency areas, decoys Naval attack provide Navy. power. for from advanced fleet weight
follow-on DoD cryptographic distribution Local we Communications with assemblies an manufacture organic and needs. that functions U.S. the key Automated card Under simple the sustaining And Electronic umbrella Communications LCMS, Key prime we Security a System, provides to X System. certain ACES of and the in of Key Management award of device. load will our the Army The electronic from tactical November, the capability embedded is for AKMS bases circuit secure contractor subsystems, AKMS key Management Engineering a Software, Management an had that announced system consists key and that nation's received test units a efficient, perform Software, and the the generation fielded
and portion the management, has cryptographic provides accounting. by net the designated been in which generation. the generation, signal is The Communications Military of by planning use frequency and all services ACES, the communication instructions a The development Board for a operations AKMS distribution workstation key LCMS standard Electronics automated security of as frequency management
cryptographic is operation equipment. XXXX. in and features for The instructions. between protection compatible assemblies simple to transfer used the provide Production to and communications and streamlined perform will that security for receive, securely begin communications card device device functions will be management portable, load produced key circuit to the of be data data by cryptographic electronic store ruggedized, expected Sypris incorporates a that embedded signal handheld The key,
XXXX. we in electronic later DoD's system this program Department important to effort. an quarter Subsequent part on X of that to and announced weapon note an for modernization will end, the you Slide that expected is to modules test Production of Defense ongoing award produce is interface begin on
contract part components agreement axles. year, freightliners, Diesel of Corporation, commence Daimler of amendment Detroit Truck these with AG, series the Detroit branded of supply announced subsidiary Truck commercial be drivetrain of drive Holding expected produced of under in by North world's North of part into its adds the vehicle The a with to Daimler amended the largest itself a numbers the America. this Daimler The subsidiary DDC's a XXXX. for March is in entered of numbers one will for current Production essential Sypris of DDC amendment to performance to Truck additional drive the components use it axles manufacturers. agreement of that new America to to Technologies heavy-duty are vehicles. Sypris And an be
the these of for which Each Sypris are high cost-of-failure representative applications well is contracts known. of
for We future momentum the as to and and expect very we the forward. XXXX wins continue of move we new about growth revenue optimistic program during contract remain potential
In business. across clearly are with focus The customers. abate, to substantial that demand summary, we on chain the is pleased our our challenges beginning are and to be meeting the progress supply made continues our of growing
the of impact our to now We reflect growing expected have reached backlog. shipments of the future point inflection
outlook Looking the forward, provides combined the us when for substantial supply increase growth to outlook of this with the XXXX. for our improving with confidence backlog, chain the
of top of our XXX Our the flow once margin be to because XX% growth. growth XX%, line solid again new now of earnings from cash includes benefit expansion for points to operations and -- forecast XXX basis to reflecting
XXXX. markets. to during production the flat review Research, for are demand Class in to this unfilled demand X of Now elevated hold outlook and There According in to XXXX having many and factors our shortfalls components a into positive Slide vehicles each the at other transportation, chips, for steel advance transition from ACT for of level XXXX. X to the OEM e-commerce, increased influence of and essentially Shortages is let's XXXX, heavy that have factors. expected XX% demand major the to other remain carrier chain, served the among semiconductor well backlog to pushing elevated production the on supply levels, the down continued capacity profitability are
at before the levels The into half current production outlook somewhat ACT truck and easing medium- for remain elevated XXXX. to QX of in second calls heavy-duty
is countries XX% use XXXX offset for and for increasingly over from LNG of to natural year. by transportation gas declining boosted become Slide Turning market in Russia. has X. dynamic now to past this Sypris, shipments The pipeline European and imports key the it
XXXX global the their of Europe of to LNG by wave a import for XX more LNG Europe metric million source see of needs its exporter with on The The be major in the projects the of capacity gas, the annual and capacity will and U.S. reliable come that embarked LNG of will dependency response part the projects natural that supply Russia former that XXXX. elsewhere. outlook became mid-XXXX. in aggressive do world's largest tidal in forecasts The by by campaign plans a starting market to end As liquefaction IEEFA online tons is XXXX even the provider strategic added an will to has of its XX% increase future. upon
maps and depict various approved support the and time remain this come. proposed. reflects The under in year-over-year strong our that underway outlook infrastructure backlog identifying projects these energy positive We to and products effect cautiously optimistic in growth to programs. for U.S. construction, to XX% the that Europe, The the right are the remain operational, growing those will in some demand
to for within from see technology market positive. allocations no for budgetary defense X, platforms the the high continues spending on long-term be a you'll priority. very And Slide the As spending remains strategic upgrades chart overall
business Our as future up that into or with at million $XX.X extending XXXX. XXX% orders stands well million of for year-end backlog now now $XXX.X is firm
of new continue will this trend pleased We that with momentum important are the are and going optimistic we very level forward. business
over several changes calls, we place market past years. in previous our During mix have that discussed the taken the
and up of of to Turning in aggressively XXXX, We XX% XX% to rising opportunity to that to XX. we sales in increase is in additional markets exists sales our customers diversify now further expected defense-related believe in now to forecast business, outcome. XXXX. note continue with overall revenue to mix, XXXX, in pursue Slide that result increase Please to for XX% our a this will from shipments to XX% XX%
for brief XX Revenue let's turn XX%. for Now summary. Slide increased to quarter the a
XXX% backlog up energy by from In providing Our Sypris XXX%, a the in support prior increase fashion, more reflecting backlog XXXX. million year-end. a is platform Backlog stands year-over-year. XX% at growth products strong $XX.X or similar to future now our for than $XXX.X a at million, grew Electronics
are the markets shape. yet rising geopolitical unfortunate future in the additional feel tailwind of Our current depending may situation. outcome some and spending Defense we good is upon
awards contract Our for potential provide successes. and top recent the further about expected to wins are the optimistic during contract remain support get expansion additional while we year, to line
XXXX, our XX% a the but Revenue of last November in As provided is to from have we to increased we XX% outlook year-over-year. guidance result, increase year. expected for initial now
XXX to XXXX, looking while to basis beyond. is expanding remain suit, year gross we forecast growth. earnings the follow expect XXX points profitably the supported the We from task operations for to margin by to strong Quite cash and are business of flow building in outlook our coming forward during simply,
Turning now balance Rich? to XX. morning. this you presentation through Slide lead of Davis the will Rich our
