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Financial report summary
?Risks
- If the financial condition of our customers and suppliers deteriorates, our business and operating results could suffer.
- Changes in consumer preferences relating to our products could adversely impact our sales levels and our operating results.
- A material percentage of the Company’s sales are concentrated in the RV industry, and declines in the level of RV unit shipments or reductions in industry growth could reduce demand for our products and adversely impact our operating results and financial condition.
- Conditions in the credit market could limit the ability of consumers, dealers and wholesale customers to obtain retail, floor plan and wholesale financing for RVs, marine products, and manufactured homes, resulting in reduced demand for our products.
- The RV, marine, MH and industrial industries are highly competitive and some of our competitors may have greater resources than we do.
- Our operating results can be adversely affected by inflation, changes in the cost or availability of raw materials, energy, transportation and other necessary supplies and services.
- Supply chain issues, including financial problems of manufacturers or suppliers, or a shortage of adequate materials or manufacturing capacity that increase our costs or cause a delay in our ability to fulfill orders, could have an adverse impact on our business and operating results, and our failure to estimate customer demand properly may result in excess or obsolete inventory, which could adversely affect our gross margins.
- If we cannot effectively manage the challenges and risks associated with doing business internationally, our revenues and profitability may suffer.
- If we are unable to manage our inventory, our operating results could be materially and adversely affected.
- Fuel shortages or high prices for fuel could have an adverse impact on our operations.
- Interruptions or disruptions in production at one of our key facilities could have a material adverse impact on our operations.
- Our ability to integrate acquired businesses may adversely affect operations.
- We may incur material charges or be adversely impacted by the consolidation and/or closure of all or part of a manufacturing or distribution facility.
- We could incur charges for impairment of assets, including goodwill and other long-lived assets, due to potential declines in the fair value of those assets or a decline in expected profitability of the Company or individual reporting units of the Company.
- The inability to attract and retain qualified executive officers and key personnel may adversely affect our operations.
- We could be impacted by potential effects of union organizing activities.
- We are subject to governmental and environmental regulations, and failure in our compliance efforts, changes to such laws and regulations or events beyond our control could result in damages, expenses or liabilities that individually, or in the aggregate, would have a material adverse effect on our financial condition and results of operations.
- Public health emergencies, whether domestic or international, such as the COVID-19 pandemic, may have an adverse effect on our business, results of operations, financial position and cash flows.
- Our level and terms of indebtedness could adversely affect our ability to raise additional capital to fund our operations and take advantage of new business opportunities and prevent us from meeting our obligations under our debt instruments.
- The agreements covering our indebtedness contain various financial performance and other covenants. If we do not remain in compliance with these covenants, we could be in breach of our debt agreements and the amounts outstanding thereunder could become immediately due and payable.
- Due to industry conditions and our operating results, there have been times in the past when we have had limited access to sources of capital. If we are unable to locate suitable sources of capital when needed, we may be unable to maintain or expand our business.
- The conditional conversion feature of the 1.75% Convertible Notes due 2028 that we issued in December 2021, if triggered, may adversely affect our financial condition and operating results.
- The convertible note hedge and warrant transactions may affect the value of the 1.75% Convertible Notes and our common stock.
- If our information technology systems fail to perform adequately, our operations could be disrupted and could adversely affect our business, reputation and results of operations.
- A cyber incident or data breach could result in information theft, data corruption, operational disruption, and/or financial loss.
- Certain provisions in our Articles of Incorporation and Amended and Restated By-laws may delay, defer or prevent a change in control that our shareholders might consider to be in their best interest.
- Conditions within the insurance markets could impact our ability to negotiate favorable terms and conditions for various liability coverage and could potentially result in uninsured losses.
- Our business, results of operations and financial condition may be materially and adversely affected by any negative impact on the global economy and capital markets resulting from international conflicts, such as the conflict between Ukraine and Russia, or any other geopolitical tensions.
- A variety of factors, many of which are beyond our control, could influence fluctuations in the market price for our common stock.