9 unchanged sentences
• A disruption at our manufacturing facilities, as well as fluctuating manufacturing costs, could materially and adversely affect its business.
−Removed: • Supply chain disruptions, including the loss of a supplier, and any inability to obtain supplies of important components could restrict our ability to manufacture products, cause product delivery delays, or significantly increase costs.
+Added: • Supply chain disruptions, including the loss of a supplier, and any inability to obtain supplies of important components has impacted our ability to manufacture products and caused product delivery delays and may continue to do so.
• Our international manufacturing operations subject us to volatility and other risks, including high security risks, which could result in harm to our employees and contractors or substantial costs.
15 unchanged sentences
The pandemic caused by the spread of COVID-19 has created significant volatility, uncertainty and economic disruption.
+Added: Emerging variants and uneven vaccination rates across the globe could lead to additionally volatility, uncertainty, and economic disruption.
Decreased demand for certain products.
17 unchanged sentences
A reduction or interruption in any of our manufacturing processes could have a material adverse effect on our business.
−Removed: Supply chain logistics have also become more challenging and could remain challenging and result in higher costs and efforts.
−Removed: Our ability to move unfinished goods and finished products around the world have been impacted by the decreased availability of global transportation networks and increased costs.
+Added: Due to global economic conditions, supply chain logistics have become more challenging and could remain challenging and result in higher costs and efforts.
+Added: We have experienced difficulties in obtaining materials used to build our products and these difficulties have impacted our ability to deliver finished products to our customers.
+Added: We believe that supply chain challenges will continue in the future, and if our actions to mitigate such challenges are not successful, material shortages could cause us to temporarily stop production of certain products.
+Added: Production delays could have a material adverse effect on our business and results of operations.
+Added: In addition, our ability to move unfinished goods and finished products around the world have been impacted by the decreased availability of global transportation networks and increased costs.
In addition, regulatory approvals for certain of our products may continue to be delayed due to COVID-19 related closures.
Varex sells its products and services to a limited number of OEM customers, many of which are also its competitors, and a reduction in or loss of business of one or more of these customers may materially reduce its sales.
−Removed: Varex had one customer during the three months ended April 2, 2021 that accounted for 18% of its revenue.
−Removed: Varex’s ten largest customers as a group accounted for approximately 52% and 53% of its revenue for the three months ended April 2, 2021 and April 3, 2020, respectively.
−Removed: Varex’s ten largest customers as a group accounted for approximately 51% and 53% of its revenue for the six months ended April 2, 2021 and April 3, 2020, respectively.
+Added: Varex had one customer during the three months ended July 2, 2021 that accounted for 17% of its revenue.
+Added: Varex’s ten largest customers as a group accounted for approximately 52% and 56% of its revenue for the three months ended July 2, 2021 and July 3, 2020, respectively.
+Added: Varex’s ten largest customers as a group accounted for approximately 51% and 53% of its revenue for the nine months ended July 2, 2021 and July 3, 2020, respectively.
Varex sells its products to a limited number of OEM customers, many of which are also its competitors with in-house X-ray component manufacturing operations.
33 unchanged sentences
In addition, the timing of Varex’s competitors’ introduction of products into the market could affect the market acceptance and sales of Varex’s products.
−Removed: Some competitors offer specialized
−Removed: products that provide, or may be perceived by customers to provide, an advantage over Varex’s products.
+Added: Some competitors offer specialized products that provide, or may be perceived by customers to provide, an advantage over Varex’s products.
Also, some of Varex’s non-U.S.
32 unchanged sentences
Varex conducts business globally.
−Removed: Revenues generated from customers located outside the United States accounted for approximately 66% and 69% of Varex’s total revenues for the three months ended April 2, 2021 and April 3, 2020, respectively.
−Removed: Revenues generated from customers located outside the United States accounted for approximately 66% and 68% of Varex’s total revenues for the six months ended April 2, 2021 and April 3, 2020, respectively.
+Added: Revenues generated from customers located outside the United States accounted for approximately 70% and 67% of Varex’s total revenues for the three months ended July 2, 2021 and July 3, 2020, respectively.
+Added: Revenues generated from customers located outside the United States accounted for approximately 67% and 67% of Varex’s total revenues for the nine months ended July 2, 2021 and July 3, 2020, respectively.
As a result, Varex must provide significant service and support globally.
137 unchanged sentences
These delays are likely to continue.
+Added: In recent months, material shortages have increased and if not timely remedied, these material shortages could cause us to temporarily stop production of certain products.
If Varex is unable to obtain the materials necessary to make its products or must pay more for those materials, it could have a material adverse effect on Varex’s business and financial results.
317 unchanged sentences
Varex has significant debt obligations that could adversely affect its business, profitability and ability to meet its obligations.
−Removed: As of April 2, 2021, Varex’s total combined indebtedness was approximately $512.3 million.
+Added: As of July 2, 2021, Varex’s total combined indebtedness was approximately $511.7 million.
The borrowings under Varex’s unsecured convertible senior notes due 2025 (the “Convertible Notes”) bear interest at a fixed rate of 4.00% and borrowings under Varex’s senior secured notes due 2027 (the “Senior Secured Notes”) bear interest at a fixed rate of 7.875%.
14 unchanged sentences
We and our subsidiaries may be able to incur substantial indebtedness in the future.
−Removed: As of April 2, 2021, we had approximately $100 million of additional available borrowing capacity (subject to borrowing base availability) under the new revolving credit agreement that we entered into on September 30, 2020 (the “Asset-Based Loan”, or "ABL Facility").
−Removed: In addition to any amounts that might be available to us for borrowing under the ABL Facility, subject to certain conditions, we will have the right to request an increase of aggregate commitments under the ABL Facility by an aggregate amount of up to $75 million by obtaining additional commitments either from one or more of the lenders under the ABL Facility or other lending institutions.
+Added: As of July 2, 2021, we had approximately $100 million of additional available borrowing capacity (subject to borrowing base availability) under the new revolving credit agreement that we entered into on September 30, 2020 (the “Asset-Based Loan”, or "ABL Facility").
+Added: There is no guarantee that our borrowing base availability under the ABL Facility will be sufficient to allow us to borrow the maximum amount permitted under the ABL Facility.
+Added: In addition to any amounts that might be available to us for borrowing under the ABL Facility, subject to certain
+Added: conditions, we will have the right to request an increase of aggregate commitments under the ABL Facility by an aggregate amount of up to $75 million by obtaining additional commitments either from one or more of the lenders under the ABL Facility or other lending institutions.
Although the ABL Facility and the indenture governing our Senior Secured Notes contain restrictions on our and our subsidiaries’ ability to incur additional indebtedness, these restrictions are subject to a number of important qualifications and exceptions, and the indebtedness incurred in compliance with these restrictions could be substantial.
137 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.