6 unchanged sentences
Manufacturing and Offshore Sourcing
−Removed: During the fiscal year ended June 30, 2024, the Company operated manufacturing facilities located in Dublin, Georgia, and Juarez, Mexico (the Dublin, Georgia location ceased operations effective June 30, 2024).
−Removed: These ongoing manufacturing operations are integral to the Company’s product offerings and distribution strategy by offering smaller and more frequent product runs of a wider product selection.
+Added: During the fiscal year ended June 30, 2025, the Company operated manufacturing facilities located in Juarez, Mexico.
+Added: This ongoing manufacturing operation is integral to the Company’s product offerings and distribution strategy by offering smaller and more frequent product runs of a wider product selection.
The Company identifies and eliminates manufacturing inefficiencies and adjusts manufacturing schedules on a daily basis to meet customer requirements.
8 unchanged sentences
however, certain competitors have substantially greater sales volumes than the Company.
−Removed: The Company’s products compete based on style, quality, price, delivery, service and durability.
+Added: The Company’s products compete based on style, quality, comfort, price, delivery, service and durability.
The Company believes its patented, guaranteed-for-life Blue Steel Spring, manufacturing and sourcing capabilities, facility locations, commitment to customers, product quality, delivery, service, value and experienced production, sales, marketing and management teams, are some of its competitive advantages.
3 unchanged sentences
On June 30, 2025, the Company had approximately 30 employees located in Asia to ensure Flexsteel’s quality standards are met and to coordinate the delivery of products acquired from overseas suppliers.
−Removed: The Company leases and operates three manufacturing facilities in Juarez, Mexico and leases one manufacturing facility in Mexicali, Mexico and had approximately 1,200 employees located in Mexico on June 30, 2024.
+Added: The Company leases and operates three manufacturing facilities in Juarez, Mexico and leases one manufacturing facility in Mexicali, Mexico.
+Added: The Company had approximately 1,000 employees located in Mexico on June 30, 2025.
The four Mexico facilities total 1,061,000 square feet.
−Removed: As of June 30, 2024, the Company has not begun operations in the Mexicali facility and has subleased approximately 339,000 of the 508,000 square feet.
−Removed: The Company expects to sublease the facility until such time that demand necessitates the additional capacity.
+Added: As of June 30, 2025, the Company has not begun operations in the Mexicali facility and expects to sublease the facility until such time that demand necessitates the additional capacity.
See “Risk Factors” in Item 1A and Note 2 Leases of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K for further discussion of the leased assets.
24 unchanged sentences
The Company owns other patents and owns certain trademarks in connection with its furniture.
−Removed: It is not common in the furniture industry to obtain a patent for a furniture design.
+Added: It is not common in the furniture industry to obtain a patent for furniture design.
If a particular design of a furniture manufacturer is well accepted in the marketplace, it is common for other manufacturers to imitate the same design without recourse by the furniture manufacturer who initially introduced the design.
10 unchanged sentences
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.