3 unchanged sentences
This exposure is associated with advances outstanding under our bank line of credit and certain lease obligations for production machinery, all of which are priced on a floating rate basis.
−Removed: Advances outstanding under the bank line of credit were $9.5 million at April 30, 2019.
−Removed: In May 2013, the Company entered into an interest rate swap agreement whereby the interest rate payable by the Company on $3,450,000 of outstanding long-term debt was effectively converted to a fixed interest rate of 4.875% for the period beginning May 1, 2013 and ending August 1, 2017.
−Removed: In May 2013, the Company entered into an interest rate swap agreement whereby the interest rate payable by the Company on $2,600,000 of outstanding long-term debt was effectively converted to a fixed interest rate of 4.37% for the period beginning August 1, 2017 and ending May 1, 2020.
−Removed: In May 2013, the Company entered into an interest rate swap agreement whereby the interest rate payable by the Company on $1,218,000 of outstanding long-term debt was effectively converted to a fixed interest rate of 3.07% for the period beginning November 3, 2014 and ending May 1, 2020.
+Added: Advances outstanding under the bank line of credit were $4.7 million at April 30, 2020, bearing interest at floating rates.
We believe that our current exposure to interest rate market risk is not material.
−Removed: As a result of the swaps described above, at April 30, 2019 we had a total of $9.5 million of outstanding debt bearing interest at floating rates.
Foreign Currency Exchange Rates
−Removed: Our results of operations could be affected by factors such as changes in foreign currency rates or weak economic conditions in foreign markets.
+Added: Our results of operations could be affected by factors such as changes in foreign currency exchange rates or weak economic conditions in foreign markets.
We derive net sales in U.S.
−Removed: dollars and other currencies including Indian rupees, Chinese renminbi, Singapore dollars, or other currencies.
−Removed: For fiscal 2019, 20% of net sales were derived in currencies other than U.S.
+Added: dollars and other currencies including Indian rupees, Singapore dollars, and other currencies.
+Added: For fiscal year 2020, 23% of net sales were derived in currencies other than U.S.
We incur expenses in currencies other than U.S.
dollars relating to specific contracts with customers and for our operations outside the U.S.
−Removed: 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.
+Added: Over the long term, net sales to international markets may increase as a percentage of total net sales and, consequently, a greater portion of our business could be denominated in foreign currencies.
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.
1 unchanged sentence
dollars, an increase in the value of the U.S.
−Removed: dollar relative to foreign currencies could make
−Removed: our products less competitive in international markets.
+Added: dollar relative to foreign currencies could make our products less competitive in international markets.
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.
3 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.