Risk Factors Update Summary
- Growth declined from $569 million in 2022 to $497 million in 2023 due to macroeconomic conditions.
- Debt increased from $490.8 million in 2022 to $498.8 million in 2023, with a term loan due in 2030.
- International operations represented approximately 2% of consolidated revenues in 2022, down to 0% in 2023.
- Unfunded backlog decreased from $2.75 billion in 2022 to $2.5 billion in 2023.
- Legal actions could subject the company to substantial uninsured liabilities, affecting operations.
- Revenues from U.S. federal government agencies were 24.3% of consolidated revenues in 2022, down to 21% in 2023.
- Key personnel retirements expected over the next few years, necessitating succession plans.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=890564&owner=exclude
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