9 unchanged sentences
A long-term economic downturn that puts downward pressure on sales could also negatively affect investor perception relative to our publicly stated profit targets.
−Removed: Uncertainty surrounding the impacts and duration of the COVID-19 pandemic.
−Removed: The coronavirus ("COVID-19") pandemic continues to have a significant disruptive impact on global economies, supply chains and industrial production.
−Removed: We have effectively managed our global operations throughout the pandemic, implementing rigorous protocols focused on the health and safety of our employees and ensuring business continuity across our supplier, manufacturing and distribution networks.
−Removed: However, the impact of COVID-19, or any variant thereof, on our business and financial performance depends on evolving factors that we cannot accurately predict, including labor shortages, supply chain constraints, additional government mandated lockdowns or similar restrictions, and the pace of economic recovery stemming from the COVID-19 pandemic.
+Added: Our operations could be adversely affected by geopolitical tensions or health epidemics.
+Added: We may be adversely impacted by factors outside of our control, including geopolitical tensions or public health epidemics.
+Added: Geopolitical tensions, acts of violence or war, or other international conflicts may also adversely impact our operations.
+Added: Public health epidemics, such as the COVID-19 pandemic, have impacted economic markets, manufacturing operations, supply chains, employment and consumer behavior in nearly every geographic region and industry across the world, and we have been, and may in the future be, adversely affected as a result.
Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.
−Removed: Due to the international scope of our operations, we are subject to a complex system of commercial, tax and trade regulations around the world.
−Removed: Recent years have seen an increase in the development and enforcement of laws regarding trade, tax compliance, data-privacy, labor and safety and anti-corruption, including the U.S.
+Added: Due to the international scope of our operations, we are subject to a complex system of commercial, tax, compliance and trade regulations around the world.
+Added: Recent years have seen an increase in the development and enforcement of laws regarding trade, tax compliance, data-privacy, sustainability, labor and safety and anti-corruption, including the U.S.
Foreign Corrupt Practices Act, and similar laws from other countries.
4 unchanged sentences
As a result, it is possible that the activities of these entities may not comply with U.S.
−Removed: laws or business practices or our Business Ethics Guide.
+Added: laws or business practices or our Code of Conduct.
Violations of the U.S.
16 unchanged sentences
Third parties may also initiate litigation to challenge the validity of our patents or claims, allege that we infringe upon their patents, violate our patents or they may use their resources to design comparable products that avoid infringing our patents.
−Removed: Regardless of whether such litigation is successful, such litigation could significantly increase our costs and divert management’s attention from the operation of our business, which could adversely affect our results of operations and financial condition.
+Added: Regardless of whether such litigation is successful, such litigation could
+Added: significantly increase our costs and divert management’s attention from the operation of our business, which could adversely affect our results of operations and financial condition.
Disruption in the availability of, quality, or increases in the cost of, raw materials and components that we purchase or labor required to manufacture our products could negatively impact our operating results or financial condition.
Our sales growth and expanding geographical footprint, coupled with suppliers’ potential credit issues, could lead to an increased risk of a breakdown in our supply chain.
−Removed: Our use of sole-source vendors creates a concentration risk.
+Added: Our use of sole-source vendors for certain parts creates a concentration risk.
There is an increased risk of defects due to the highly configured nature of our purchased component parts that could result in quality issues, returns or production slowdowns.
2 unchanged sentences
Global supplier production for various component parts is limited.
−Removed: We have experienced significant disruption of the supply of key component parts.
−Removed: We expect cost inflation and market supply challenges to continue which may negatively impact our financial results.
+Added: We may experience disruption of the supply of key component parts.
+Added: Cost inflation and market supply challenges may negatively impact our financial results.
We have and may continue to experience higher than normal wage inflation due to skilled labor shortages.
32 unchanged sentences
Given our greater emphasis on customer-facing technologies, we may not have adequate resources to upgrade our systems at the pace which the current business environment demands.
−Removed: Additionally, significantly upgrading and evolving the capabilities of our existing systems could lead to inefficient or ineffective use of our technology due to lack of training or expertise in these evolving technology systems.
+Added: Additionally, significantly upgrading and evolving the capabilities of our existing systems, including ERP modernization, could lead to inefficient or ineffective use of our technology due to lack of training or expertise in these evolving technology systems.
These factors, among other things, could lead to significant expenses, adversely impacting our results of operations and hindering our ability to offer better technology solutions to our customers.
13 unchanged sentences
We remain focused on the health and safety measures that impact our business from a manufacturing perspective.
−Removed: The Company had to adjust quickly to new working conditions as a result of the COVID-19 pandemic, including making enhancements as new health information was received.
−Removed: In the future, the Company may not adapt to new health crises quickly enough, resulting in a decrease in resource capacity and overall health and wellness of our workforce that could cause fines, reputational damage, or business disruptions.
−Removed: Also, there may be further enhancements and costs to the Company related to any new health guidelines and protocols.
−Removed: Our manufacturing teams monitor the effectiveness of our wellness and safety programs, while the Company continues to implement more tailored health initiatives for those working from home.
−Removed: Managing additional health guidelines and protocols for the health and safety of our employees may adversely affect our business, financial conditions or operating results.
+Added: Our manufacturing teams monitor the effectiveness of our wellness and safety programs.
+Added: The Company may be required to make enhancements and incur costs related to any new health guidelines and protocols to adapt to new health crises, which may adversely affect our business, financial conditions, or operating results.
We may consider acquisitions of suitable candidates to accomplish our growth objectives.
13 unchanged sentences
We strive to develop new and innovative products and services to differentiate ourselves in the marketplace.
−Removed: New product development relies heavily on our financial and resource investments in both the short-term and long-term.
+Added: New product development relies heavily on our financial and resource investments in both the
+Added: short-term and long-term.
If we fail to adequately fund product development projects or fund a project which ultimately does not gain the market acceptance we anticipated, we risk not meeting our customers' expectations, which could result in decreased revenues, declines in margin and loss of market share.
−Removed: ITEM 1B – Unresolved Staff Comments
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.