Quantitative and Qualitative Disclosures About Market Risk
−Removed: Because a portion of the Company’s net revenues are derived from its operations outside the U.S.
−Removed: and are denominated in local currencies, the Company is exposed to the impact of foreign currency fluctuations.
+Added: Because a portion of the Company’s net revenues is derived from its operations outside the U.S.
+Added: and is denominated in local currencies, the Company is exposed to the impact of foreign currency fluctuations.
The Company’s exposure to foreign currency exchange rates relates primarily to the Company’s foreign subsidiaries.
1 unchanged sentence
dollar value of the Company’s reported revenues, expenses, earnings, assets and liabilities.
−Removed: For the six months ended June 30, 2024, approximately 22.3% of the Company’s revenues were generated outside of the U.S.
+Added: For the nine months ended September 30, 2024, approximately 22.1% of the Company’s revenues were generated outside of the U.S.
These operations transact business in their functional currency, which is the same as their local currency.
5 unchanged sentences
dollar changes relative to the currencies of the Company’s international markets, the Company’s reported results vary.
−Removed: During the first six months of 2024, the U.S.
+Added: During the first nine months of 2024, the U.S.
dollar fluctuated, and generally strengthened, against the primary currencies in which the Company conducts business, compared to one year ago.
−Removed: Foreign currency exchange rates had the effect of decreasing reported service revenues by $4.2 million, or 0.1%, in the first half of 2024 compared to the same period one year ago.
+Added: Foreign currency exchange rates had the effect of decreasing reported service revenues by $4.6 million, or 0.1%, in the first three quarters of 2024 compared to the same period one year ago.
The general strengthening of the U.S.
1 unchanged sentence
Because substantially all the Company’s international operations generated revenues and incurred expenses within the same country and currency, the effect of lower reported revenues is largely offset by the decrease in reported operating expenses.
−Removed: Reported net income was $0.1 million, or 0.1%, lower in the first half of 2024 compared to the same period one year ago due to the effect of currency exchange rates.
−Removed: If currency exchange rates were to remain at June 30, 2024 levels throughout the remainder of 2024, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first half of 2024 results.
+Added: Reported net income was $0.8 million, or 0.3%, lower in the first three quarters of 2024, compared to the same period one year ago due to the effect of currency exchange rates.
+Added: If currency exchange rates were to remain at September 30, 2024 levels throughout the remainder of 2024, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first three quarters of 2024 results.
Should current trends continue, the impact to reported net income would be immaterial.
8 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.