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and (11) extraordinary or force majeure events affecting the business or operations of our business, any of which could have a material effect on us.
−Removed: Investors should consider the risks described below and all of the other information set forth in this Quarterly Report
−Removed: on Form 10-Q, including our unaudited condensed consolidated financial statements and the related notes and “Management's Discussion and Analysis of Financial Condition and Results of Operations,” in evaluating our business and prospects.
+Added: Investors should consider the risks described below and all of the other information set forth in this Quarterly Report on Form 10-Q, including our unaudited condensed consolidated financial statements and the related notes and “Management's Discussion and Analysis of Financial Condition and Results of Operations,” in evaluating our business and prospects.
If any of the risks described herein occurs, our business, financial condition or results of operations could be negatively affected.
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The pandemic is affecting and is expected to continue to affect certain elements of our operations and business.
−Removed: We have experienced operational interruptions as a result of COVID-19, including the temporary suspension of operations at our facilities in Maniago, Italy.
−Removed: However, these operational interruptions are not expected to have a material impact on our consolidated results of operations.
−Removed: We have begun to experience and expect to continue to experience unpredictable changes in demand from the markets we serve.
−Removed: The A&D industries have been negatively impacted by the COVID-19 pandemic as a result of various restrictions on air travel and concern regarding air travel during a pandemic.
+Added: We have experienced operational interruptions as a result of COVID-19, including the temporary suspension of operations at our facilities in Maniago, Italy and border closures that have resulted in delayed shipments.
+Added: Further or more prolonged operational disruptions in the U.S.
+Added: or other locations in which we or our customers operate could have a material impact on our consolidated results of operations.
+Added: We have experienced and expect to continue to experience unpredictable changes in demand from the markets we serve.
+Added: The A&E industries have been negatively impacted by the COVID-19 pandemic as a result of various restrictions on air travel and concern regarding air travel during a pandemic.
These factors have caused reductions in demand for commercial aircraft, which will adversely impact our net sales and operating results and may continue to do so for an extended period of time.
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Additionally, the pandemic could lead to an extended disruption of economic activity whereby the impact on our consolidated results of operations, financial position and cash flows could be material.
−Removed: While the potential economic impact brought by and the duration of the coronavirus outbreak may be difficult to assess or predict, a widespread pandemic could result in significant or sustained disruption of global financial markets, reducing our ability to access capital, which could in the future negatively affect our liquidity.
−Removed: In addition, while we believe we have taken appropriate steps to maintain a safe workplace to protect our employees from contracting and spreading the coronavirus, we may not be able to prevent the spread of the virus among our employees, face litigation or other proceedings making claims related to unsafe working conditions, inadequate protection of our employees or other claims.
+Added: While the potential economic impact brought by and the duration of the coronavirus outbreak may be difficult to assess or predict, the continuation of a widespread pandemic could result in significant or sustained disruption of global financial markets, reducing our ability to access capital, which could in the future negatively affect our liquidity.
+Added: Although the Company intends to apply for forgiveness of all or a portion of its PPP Loan proceeds, we make no representations that we will qualify for forgiveness of all or part of the PPP Loan.
+Added: Further, as a consequence of post-PPP Loan rule making by the Small Business Administration, shifting regulatory guidance and/or other factors, we may be required to repay the PPP Loan before its expected maturity date.
+Added: While the Company believes it has adequate cash/liquidity available to finance its operations, our ability to make scheduled payments of the principal of, to pay interest on or to refinance our indebtedness, depends on our future performance, which is subject to general economic, financial, competitive and other factors (including the continued impact of COVID-19) beyond our control.
+Added: In addition, while we believe we have taken appropriate steps to maintain a safe workplace to protect our employees from contracting and spreading the coronavirus, we may not be able to prevent the spread of the virus among our employees, face litigation or other proceedings making claims related to unsafe
+Added: working conditions, inadequate protection of our employees or other claims.
Any of these claims, even if without merit, could result in costly litigation or divert management's attention and resources.
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The following financial information from SIFCO Industries, Inc.
−Removed: Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 12, 2020, formatted in XBRL includes:
−Removed: (i) Consolidated Condensed Statements of Operations for the fiscal periods ended March 31, 2020 and 2019, (ii) Consolidated Condensed Statements of Comprehensive Income for the fiscal periods ended March 31, 2020 and 2019, (iii) Consolidated Condensed Balance Sheets at March 31, 2020 and September 30, 2019, (iv) Consolidated Condensed Statements of Cash Flow for the fiscal periods ended March 31, 2020 and 2019, (iv) Consolidated Condensed Statements of Shareholders' Equity for the periods March 31, 2020 and 2019, and (v) the Notes to the Consolidated Condensed Financial Statements.
+Added: Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 filed with the SEC on August 6, 2020, formatted in XBRL includes:
+Added: (i) Consolidated Condensed Statements of Operations for the fiscal periods ended June 30, 2020 and 2019, (ii) Consolidated Condensed Statements of Comprehensive Income for the fiscal periods ended June 30, 2020 and 2019, (iii) Consolidated Condensed Balance Sheets at June 30, 2020 and September 30, 2019, (iv) Consolidated Condensed Statements of Cash Flow for the fiscal periods ended June 30, 2020 and 2019, (iv) Consolidated Condensed Statements of Shareholders' Equity for the periods June 30, 2020 and 2019, and (v) the Notes to the Consolidated Condensed Financial Statements.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
SIFCO Industries, Inc.
+Added: August 6, 2020
President and Chief Executive Officer
(Principal Executive Officer)
+Added: August 6, 2020
/s/ Thomas R.
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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.