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New words:
Alpha, arrangement, authoritative, constant, deduction, director, engineered, EOD, expedient, February, highly, ICOR, impractical, Intermediate, jurisdiction, MXN, nuclear, ongoing, ordinarily, permitted, professional, prospectively, purpose, quantitative, reliable, retrospectively, spanning, supplier, threshold, trusted, unchanged
Removed:
achievement, alleged, alternate, appeal, applied, approved, award, awarding, begin, billing, book, Breaching, ceiling, chemical, Circuit, Claim, classification, complaint, conducted, consecutive, constituting, County, court, crowd, CT, Cyalume, David, DCSO, deferred, denied, deployed, district, Division, door, DuPage, Eastern, employment, estimation, evident, excluded, exit, expire, facilitate, Facilitation, favor, filing, finance, fragment, fulfilled, funded, grant, granted, Hakim, holder, illumination, incorporate, indemnified, infrared, initiated, injury, input, installment, instituted, JMOL, jury, Leather, light, London, milestone, modification, modified, motion, Northern, notice, obtained, occurred, optional, oral, ordinance, Overnight, passed, personal, phased, plaintiff, proceeding, production, qualifying, Radar, reached, remittitur, rendering, response, return, reversed, round, ruling, SAS, satisfaction, settlement, Sheriff, Shotgun, slightly, specifically, strike, suffered, survivability, SWAT, tangible, temporary, TKO, training, translation, trial, unfunded, unit, Unrecognized, unsatisfied, unsecured, unvested, verdict, vest
Financial report summary
?Competition
Vista OutdoorRisks
- Risks Related to Our Industry
- The products we sell are inherently risky and could give rise to product liability, product warranty claims, and other loss contingencies.
- We are subject to extensive government regulations, and our failure or inability to comply with these regulations could materially restrict our operations and subject us to substantial penalties.
- We have significant international operations and assets and, therefore, are subject to additional financial and regulatory risks.
- Risks Related to Our Business
- Many of our customers have fluctuating budgets, which may cause substantial fluctuations in our results of operations.
- Our markets are highly competitive, and if we are unable to compete effectively, we will be adversely affected.
- There are limited sources for some of our raw materials and components, which may significantly curtail our manufacturing operations.
- Our resources may be insufficient to manage demand.
- We are dependent on industry relationships.
- We may be unable to protect our proprietary technology.
- Technological advances, the introduction of new products, and new design and manufacturing techniques could adversely affect our operations unless we are able to adapt to the resulting change in conditions.
- We may be adversely affected by applicable environmental, health and safety laws and regulations.
- We may lose money or generate less than expected profits on our fixed-price contracts.
- Our business is subject to various laws and regulations favoring the U.S. government’s contractual position, and our failure to comply with such laws and regulations could harm our operating results and prospects.
- Our Chief Executive Officer has divided responsibilities and is not required to devote any specified amount of time to our business.
- We may be subject to disruptions, failures or cyber-attacks in our information technology systems and network infrastructures that could disrupt our operations, damage our reputation and adversely affect our business, operations, and financial results.
- Misuse of our products may adversely affect the Company’s reputation.
- Adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception, could negatively impact our business.
- The terms of our outstanding long-term debt and any requirements to incur further indebtedness or refinance our outstanding indebtedness in the future could have a material adverse effect on our business and results of operations.
- Risks Related to our Acquisition Strategy
- A number of other companies are seeking to make acquisitions in our industry, which may make our acquisition strategy more difficult or expensive to pursue.
- We may be unsuccessful in identifying suitable acquisition candidates, which may negatively impact our competitive position and our growth strategy.
- The due diligence process that we undertake in connection with acquisitions may not reveal all facts that may be relevant in connection with an investment.
- We may face difficulty in integrating the operations of the businesses we have acquired, including, without limitation, ICOR and Alpha Safety, and may acquire in the future.
- We typically retain the management of the businesses we acquire and rely on them to continue running their businesses, which leaves us vulnerable in the event they leave our Company.
- Risks Related to Ownership of our Common Stock
- Our executive officers, directors and principal stockholders, if they choose to act together, will continue to have the ability to control all matters submitted to stockholders for approval.
- Shares of our common stock have been, and may continue to be, thinly traded, which may contribute to volatility in our stock price and less liquidity for investors.
- Our stock price may be volatile or may decline regardless of our operating performance, resulting in substantial losses for investors.
- Substantial future sales of shares of our common stock could cause the market price of our common stock to decline.
- If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our share price and trading volume could decline.
- We are an emerging growth company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies could make our common stock less attractive to investors.
- Compliance with changing laws, regulations and standards of corporate governance and public disclosure may result in additional expenses.
- Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our common stock, which may also have the consequence of depressing the market price of our common stock.
- Our amended and restated bylaws provide that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- Our payment of future quarterly dividends on our common stock is subject to the discretion and approval of our board of directors.
- We could be subject to securities class action litigation.
- Our amended and restated certificate of incorporation authorizes the issuance of shares of blank check preferred stock.
- We may issue a substantial amount of our common stock in connection with future acquisitions, and the sale of those shares could adversely affect our stock price.
Management Discussion
- ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
- Cadre is a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets. Our equipment provides critical protection to allow its users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. Through our dedication to superior quality, we establish a direct covenant with end users that our products will perform and keep them safe when they are most needed. We sell a wide range of products including body armor, explosive ordnance disposal equipment and duty gear through both direct and indirect channels. In addition, through our owned distribution, we serve as a one-stop shop for first responders providing equipment we manufacture as well as third-party products including uniforms, optics, boots, firearms and ammunition. The majority of our diversified product offering is governed by rigorous safety standards and regulations. Demand for our products is driven by technological advancement as well as recurring modernization and replacement cycles for the equipment to maintain its efficiency, effective performance and regulatory compliance.
- We service the ever-changing needs of our end users by investing in research and development for new product innovation and technical advancements that continually raise the standards for safety equipment. Our target end user base includes domestic and international first responders such as state and local law enforcement, fire and rescue, explosive ordnance disposal technicians, emergency medical technicians, fishing and wildlife enforcement and departments of corrections, as well as federal agencies including the U.S. Department of State, U.S. Department of Defense, U.S. Department of Interior, U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of Corrections and numerous foreign government agencies in over 100 countries.