Risk Factors Update Summary
- Strategic alternatives review of CMM segment may result in a sale or restructuring. This could lead to a significant charge to earnings.
- Goodwill, intangible assets, and long-lived assets increased from $730 million to $918 million.
- CMM segment accounted for 36% of consolidated revenues in 2023, down from 38% in 2022.
- Top 5 customers of CMM accounted for 66% of revenues in 2023, up from 63% in 2022.
- Apple Inc. accounted for 44% of CMM's revenues and 16% of consolidated company revenues in 2023.
- MSA's top five customers accounted for 80% of revenues in 2023, up from 63% in 2022.
- Sales of MEMS microphones by CMM and MSA segments accounted for 44% of consolidated revenues in 2023, down from 46% in 2022.
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.
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