2 unchanged sentences
Our results of operations could be affected by factors such as changes in foreign currency rates or weak economic conditions in foreign markets.
−Removed: We derive net sales in U.S.
−Removed: dollars and other currencies including Canadian dollars, Euros, Chinese renminbi, British pounds, Australian dollars, or other currencies.
−Removed: For fiscal 2022, 15.9 percent of net sales were derived in currencies other than U.S.
−Removed: We incur expenses in currencies other than U.S.
−Removed: dollars relating to specific contracts with customers and for our operations outside the U.S.
+Added: We derive net sales in United States dollars and other currencies including Canadian dollars, Euros, Chinese renminbi, British pounds, Australian dollars, or other currencies.
+Added: For fiscal 2023, 12.3 percent of net sales were derived in currencies other than United States dollars.
+Added: We incur expenses in currencies other than United States dollars relating to specific contracts with customers and for our operations outside the United States
If we believe currency risk in any foreign location or with respect to specific sales or purchase transaction is significant, we utilize foreign exchange hedging contracts to manage our exposure to the currency fluctuations.
−Removed: The notional amount of the foreign currency agreements as of April 30, 2022 was $11.3 million, and all contracts mature within ten months.
+Added: The notional amount of the foreign currency agreements as of April 29, 2023 was $7.8 million, and all contracts mature within six months.
These contracts are marked to market each balance sheet date and are not designated as hedges.
4 unchanged sentences
Over the long term, net sales to international markets are expected to increase as a percentage of total net sales and, consequently, a greater portion of our business could be denominated in foreign currencies.
−Removed: As a result, operating results may become more subject to fluctuations based upon changes in the exchange rates of certain currencies in relation to the U.S.
−Removed: To the extent we engage in international sales denominated in U.S.
−Removed: dollars, an increase in the value of the U.S.
−Removed: dollar relative to foreign currencies could make our products less competitive in international markets.
−Removed: This effect is also impacted by sources of raw materials from international sources and costs of our sales, service, and manufacturing locations outside the U.S.
+Added: As a result, operating results may become more subject to fluctuations based upon changes in the exchange rates of certain currencies in relation to the United States dollar.
+Added: To the extent we engage in international sales denominated in United States dollars, an increase in the value of the United States dollar relative to foreign currencies could make our products less competitive in international markets.
+Added: This effect is also impacted by sources of raw materials from international sources and costs of our sales, service, and manufacturing locations outside the United States
We will continue to monitor and minimize our exposure to currency fluctuations and, when appropriate, use financial hedging techniques to minimize the effect of these fluctuations.
2 unchanged sentences
These accounts are impacted by changes in foreign currency rates.
−Removed: Of our $17.1 million in cash balances at April 30, 2022, $11.7 million were denominated in U.S.
−Removed: dollars, of which $3.9 million were held by our foreign subsidiaries.
+Added: Of our $24.0 million in cash balances as of April 29, 2023, $15.9 million were denominated in United States dollars, of which $1.3 million were held by our foreign subsidiaries.
As of April 29, 2023, we had an additional $8.1 million in cash balances denominated in foreign currencies, of which $7.7 million were maintained in accounts of our foreign subsidiaries.
Interest Rate Risks
−Removed: Our exposure to market risks relate primarily to changes in interest rates on cash and marketable securities.
+Added: Our exposure to market risks relate primarily to changes in interest rates on our financing agreements, cash, and marketable securities.
We do not expect our income or cash flows to be significantly impacted by interest rates.
5 unchanged sentences
Some of these materials are sourced outside of the countries in which we manufacture our products and are subject to transportation delays.
−Removed: Any of these factors may cause a sudden increase in costs and/or limited or unavailable supplies.
+Added: Any of these factors may cause a sudden increase in costs and/or limited or
+Added: unavailable supplies.
As a result, we may not be able to acquire key production materials on a timely basis, which could adversely impact our ability to produce products and satisfy incoming sales orders on a timely basis.
1 unchanged sentence
Periodically, we enter into pricing agreements or purchasing contracts under which we agree to purchase a minimum amount of product in exchange for guaranteed price terms over the length of the contract, which generally does not exceed one year.
−Removed: Over the years, we have been impacted by the factors noted.
−Removed: During late fiscal 2021 and through fiscal 2022, supply chain disruptions began to emerge because of the COVID-19 pandemic, shipping container shortages, and the changes in global demand.
−Removed: Specifically, we are impacted by the global inflation and shortage of semiconductors and related electronic components, other materials needed for production, and freight.
−Removed: We are unable to predict the supply chain recovery or the impact to our business.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.