Risk Factors Update Summary
- Ongoing trade tensions between the United States and China may suddenly escalate due to government actions.
- Customer concentration decreased from 63% in 2023 to 61% in 2022, and further to 58% in 2021.
- Acquisitions may impair the company, with risks including price increases from suppliers.
- Part shortages and price increases experienced in 2021 and 2022 have stabilized in 2023.
- Excess inventories due to inaccurate demand estimation may lead to obsolescence and increased costs.
- Global impacts of the Russian invasion of Ukraine continue to evolve with sanctions and trade issues.
- International sales represented 93% of net sales in 2022, 90% in 2021, and 90% in 2020.
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=351998&owner=exclude
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