6 unchanged sentences
The products described above have accounted for more than 90% of revenues in each of the last three fiscal years.
−Removed: On July 2, 2018, the Company completed the acquisition of 100% of the outstanding common stock of Veth Propulsion.
−Removed: Veth Propulsion is a global manufacturer of highly-engineered primary and auxiliary propulsions and propulsion machinery for maritime vessels, including rudder propellers, bow thrusters, generator sets and engine service and repair, based in the Netherlands.
−Removed: These products are complementary to and expand the Company’s current product offerings in the marine and propulsion markets.
+Added: On July 2, 2018, the Company completed the acquisition of 100% of the outstanding common stock of Veth Propulsion Holding B.V.
+Added: (“Veth Propulsion”).
+Added: Veth Propulsion is a global manufacturer of highly-engineered primary and auxiliary propulsions and propulsion machinery for maritime vessels, including rudder propellers, bow thrusters, and generator sets, and a provider of engine service and repair, based in the Netherlands.
+Added: These products are complementary to and expand the Company’s product offerings in the marine and propulsion markets.
Most of the Company's products are machined from cast iron, forgings, cast aluminum and bar steel which generally are available from multiple sources and which are believed to be in adequate supply.
6 unchanged sentences
The Company’s top ten customers accounted for approximately 51% and 49% of the Company's consolidated net sales during the years ended June 30, 2020 and June 30, 2019, respectively.
−Removed: There were no customers that accounted for 10% of consolidated net sales in fiscal 2019.
+Added: There was one customer, Sewart Supply Company, an authorized distributor of the Company, that accounted for at least 10% of consolidated net sales in fiscal 2020.
Unfilled open orders for the next six months of $66.6 million at June 30, 2020 compares to $99.6 million at June 30, 2019.
2 unchanged sentences
Cancellations are generally the result of rescheduling activity and do not represent a material change in backlog.
−Removed: Management recognizes that there are attendant risks that foreign governments may place restrictions on dividend payments and other movements of money, but these risks are considered minimal due to the political relations the United States maintains with the countries in which the Company operates or the relatively low investment within individual countries.
+Added: Management recognizes that there are attendant risks that foreign governments may place restrictions on dividend payments and other movements of money, but these risks are considered low due to the relatively low investment within individual countries that have currency movement restrictions.
No material portion of the Company’s business is subject to renegotiation of profits or termination of contracts at the election of the U.S.
4 unchanged sentences
The number of persons employed by the Company at June 30, 2020 was 806.
−Removed: A summary of financial data by segment, geographic area, and classes of products that accounted for more than 10% of consolidated sales revenues for the years ended June 30, 2019 and 2018 appears in Note L, Business Segments and Foreign Operations, to the consolidated financial statements.
+Added: A summary of financial data by segment, geographic area, and classes of products that accounted for more than 10% of consolidated sales revenues for the years ended June 30, 2020 and 2019 appears in Note K, Business Segments and Foreign Operations, to the consolidated financial statements.
The Company’s internet website address is www.twindisc.com.
5 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.