20 unchanged sentences
We share resources for sales, marketing, engineering, supply chain, information services, human resources, payroll, and all corporate accounting functions.
−Removed: Our financial information is consolidated and evaluated regularly by the chief operating decision maker in assessing performance and allocating resources.
+Added: Our financial information is evaluated regularly on a consolidated basis by the chief operating decision maker in assessing performance and allocating resources.
Business Strategy
28 unchanged sentences
We currently purchase the majority of our electronic components globally and directly from electronic component manufacturers and large electronic distributors.
−Removed: In 2021, we, like many other companies in our industries, experienced significant supply chain and shipping disruptions.
+Added: In 2021 and into 2022, we, like many other companies in our industries, experienced significant supply chain and shipping disruptions.
We attempt to overcome these disruptions through advanced supply chain solutions we develop in partnership with our customers, a commitment to strong supplier partnerships and risk management tools.
Major Customers
−Removed: Our largest customer accounted for approximately 26.9% and 23.4% of net sales for the years ended December 31, 2021 and 2020, respectively.
+Added: Our largest customer accounted for approximately 26.9% of net sales in each of the years ended December 31, 2022 and 2021.
Patents and Licenses
10 unchanged sentences
We perform research and development for customers on an as requested, project and program basis for development of conceptual engineering and design activities as well as products moving into production.
−Removed: We spent approximately $528,000 and $0 on Company-sponsored product research and development in 2021 and 2020, respectively.
+Added: We spent approximately $1.5 million and $0.5 million on product research and development in years ended 2022 and 2021, respectively.
We continue to explore opportunities for developing proprietary manufacturing methods or products, particularly in complex wire and cable interconnect technologies.
21 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.