1 unchanged sentence
Our exposure to changes in interest rates results from our borrowing activities.
−Removed: In the event interest rates were to move by 1%, our yearly interest expense would increase or decrease by approximately $0.5 million assuming our average borrowing levels during fiscal year 2024 remained constant.
−Removed: As of March 30, 2024, $80.0 million was available under the revolving credit facility, and there were no amounts outstanding.
+Added: In the event interest rates were to move by 1%, our yearly interest expense would increase or decrease by approximately $0.3 million assuming our borrowing levels at March 29, 2025 remained constant.
+Added: As of March 29, 2025, $80.0 million was available under the revolving credit facility, of which, $30.9 million was outstanding.
As described above under “Liquidity and Capital Resources,” we also have a $15.0 million (original principal) term loan.
The 2018 Term Loan is considered a fixed interest rate loan.
−Removed: As of March 30, 2024, $4.2 million was outstanding on the 2018 Term Loan and was included in long-term debt and current portion of long-term debt on the Consolidated Balance Sheets.
+Added: As of March 29, 2025, $1.8 million was outstanding on the 2018 Term Loan and was included in current portion of long-term debt on the Consolidated Balance Sheets.
The 2018 Term Loan requires total (principal and interest) repayments of $0.2 million per month through December 2025.
1 unchanged sentence
Our interest rate margin is determined on a quarterly basis based upon our calculated leverage ratio.
−Removed: Our interest rate during fiscal year 2024 for our revolving credit facility ranged from 6.4% to 7.1%.
+Added: Our interest rate during fiscal year 2025 for our revolving c redit facility ranged from 5.1% to 6.2 % .
Interest on outstanding borrowings on the 2018 Term Loan accrued at a fixed rate of 3.90% over the term of the loan.
10 unchanged sentences
We continually utilize short-term foreign exchange forward contracts to reduce the risk that future earnings denominated in Canadian dollars would be adversely affected by changes in currency exchange rates.
−Removed: We do not apply hedge accounting and therefore the net change in the fair value of the contracts, which totaled a loss of less than $0.1 milli on and a gain of $0.4 million during fiscal year 2024 and 2023, respectively, was recognized as a component of other expense in the Consolidated Statements of Income.
+Added: We do not apply hedge accounting and therefore the net change in the fair value of the contracts, which totaled a gain of $0.2 million and a loss of less than $0.1 million during fiscal year 2025 and 2024 , respectively, was recognized as a component of other expense in the Consolidated Statements of Income.
The change in the fair value of the contracts is offset by the change in fair value on the underlying accounts receivables denominated in Canadian dollars being hedged.
−Removed: On March 30, 2024, we had a foreign exchange contract, which matured in April 2024, outstanding in the notional amount of $1.8 milli on.
−Removed: The foreign exchange contract was renewed in April 2024 and continues to be in place.
+Added: On March 29, 2025 , we had a foreign exchange contract, which matured in April 2025, outstanding in the notional amount of $1.1 million.
+Added: The foreign ex change contract was renewed in April 2025 and continues to be in place.
We do not use hedging arrangements for speculative purposes.
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.