Risk Factors Update Summary
- Stockholders should consider Management’s Discussion and Analysis in the Form 10-K, including other information.
- Economic conditions, including inflation and interest rates, have impacted gross margins from 25.1% to 22.3%.
- A significant customer comprised 15% of total revenues in 2023, down from 17% in 2022.
- Increased demand led to higher costs, with gross margins affected by cost inflation and logistic complexities.
- Sales to U.S. and foreign militaries accounted for 36% of revenues in 2023, up from 29% in 2022.
- Supply chain disruptions persisted in 2023, partially mitigated by proactive actions, extending sales planning.
- Supply chain disruptions and component shortages may continue, impacting financial results and operations.
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=875657&owner=exclude
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