13 unchanged sentences
In 2023, changes in currency translation rates reduced sales by approximately $2 million and reduced net earnings by approximately $4 million.
−Removed: The Company expects its core growth strategies of developing new products, expanding distribution, seeking adjacent markets and targeting strategic acquisitions will continue to drive shareholder value.
−Removed: Entering 2024, demand levels generally remain steady in an uncertain macroeconomic environment.
+Added: Entering 2025, overall incoming order rates remain steady in an uncertain macroeconomic environment.
+Added: Demand in China and for semiconductor products appear to have stabilized.
+Added: The Company's reorganization into global businesses, centered around common customers and distributors, has been completed and is designed with the intention of driving incremental profitable growth.
+Added: The Company remains committed to its core growth strategies of developing new products, expanding distribution, seeking adjacent markets and new geographies, and pursuing strategic acquisitions.
As a result, the Company's outlook for 2025 is low single-digit revenue growth on an organic, constant currency basis.
−Removed: At January 31, 2024 exchange rates, assuming the same volumes, mix of products and mix of business by currency as in 2023, the movement in foreign currencies would not have an impact on net sales or net earnings for 2024.
−Removed: While the Company's backlog in recent years has been elevated relative to historic levels, backlog is not a good indicator of future long-term business levels.
+Added: At January 31, 2025 exchange rates, assuming the same volumes, mix of products and mix of business by currency as in 2024, the movement in foreign currencies would have an unfavorable impact of approximately 1 percentage point on net sales and 2 percentage points on net earnings for 2025.
+Added: The Company's backlog is not a good indicator of future long-term business levels.
In addition to economic growth, the successful launch of new products and expanded distribution coverage, the sales outlook is dependent on many factors, including realization of price increases and stable foreign currency exchange rates.
1 unchanged sentence
The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation Reform Act of 1995 and is filing this Cautionary Statement in order to do so.
−Removed: From time to time various forms filed by our Company with the Securities and Exchange Commission, including this Annual Report on Form 10-K and our Form 10-Qs and Form 8-Ks, and other disclosures, including our overview report, press releases, earnings releases, analyst briefings, conference calls and other written documents or oral statements released by our Company, may contain forward-looking statements.
+Added: From time to time various forms filed by our Company with the Securities and Exchange Commission, including this Form 10-K and our Form 10-Qs and Form 8-Ks, and other disclosures, including our overview report, press releases, earnings releases, analyst briefings, conference calls and other written documents or oral statements released by our Company, may contain forward-looking statements.
Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” and similar expressions, and reflect our Company’s expectations concerning the future.
5 unchanged sentences
changes in currency translation rates;
−Removed: Russia’s invasion of Ukraine and other political instability;
+Added: international and domestic political instability;
interest rate fluctuations and changes in credit markets;
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costs associated with legal proceedings;
−Removed: and other risks and uncertainties including those discussed in Item 1A of this Annual Report on Form 10-K.
+Added: and other risks and uncertainties including those discussed in Item 1A of this Form 10-K.
Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.
2 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.