Risk Factors Update Summary
- Geopolitical tensions could adversely impact financial performance and global operations in various ways.
- The Federal Reserve reduced rate hikes from seven to four in 2023, affecting interest rates.
- Elevated inflation expected to continue in the near term, impacting financial condition and operations.
- Changes in interest rates may result in higher debt service costs, affecting cash flows.
- Customer concentration risk: Four largest customers accounted for 84% of accounts receivable.
- Sales to foreign markets (primarily Malaysia) decreased from 29% to 26% of consolidated revenues.
- Cybersecurity risks and incidents may negatively impact business operations and financial results.
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=1902314&owner=exclude
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