Item 2.02Results of Operations and Financial Condition.
On
The information furnished with this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and it will not be deemed incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 8.01Other Events.
The following risk factor supplements the "Risk Factors" in Part I, Item 1A of
the Company's Annual Report on Form 10-K for the year ended
A pandemic, epidemic, or other outbreak of infectious disease may have a material adverse effect on our business operations, results of operations, financial condition, and cash flows.
Our operational and financial condition may be negatively impacted by the
widespread outbreak of any illnesses or communicable diseases, as well as any
associated public health crises that may ensue. In
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The extent to which the COVID-19 pandemic will adversely impact our Company depends on currently evolving factors, as well as future developments that we are not able to predict with certainty. Such factors and potential developments may include but are not limited to:
• the duration, intensity, and spread of the virus, including how quickly and to what extent normal economic and operating conditions can resume; • the health of our employees, and our ability to meet staffing needs at our manufacturing sites and in other critical functions; • the health of the workforce of certain third-party service providers or contractors, and their ability to provide contracted services at our manufacturing sites or in other critical functions; • federal, state, local, and foreign governmental and/or self-imposed actions that promote general safety and well-being, such as restrictions on travel and transport, regional quarantines, temporary site or office closures, and other social distancing measures; • volatility in the broader financial markets, which may negatively impact our credit rating and our ability to obtain additional financial liquidity through either capital or debt offerings at acceptable terms, if at all; • our ability to pay dividends or repurchase common stock in the future; • consumer and business confidence and the resulting decreases in our customers' demand and spending patterns, as well as their respective abilities to fulfill any existing purchasing obligations; • generation of sufficient cash flows to fulfill our indebtedness and general business obligations; • increased operating costs to deal with the impacts of COVID-19; • supply chain inefficiencies or ineffectiveness driven by the impacts of COVID-19 on our suppliers, as well as any increases in freight expense or other costs of transport; • modifications to our operating footprint driven by potential future developments, such as decreases in consumer demand and additional restrictive federal, state, local, and foreign government actions; • impairments to our fixed and/or intangible assets, including goodwill, that may be recorded as a result of weaker prolonged economic conditions; • interruptions in any services provided by our business partners; and, • the potential negative impacts on our internal controls over financial reporting, including potential future significant deficiencies or material weaknesses, as a result of changes in working environments.
The widespread outbreak of any illness or communicable disease could result in,
and in the instance of the COVID-19 pandemic has resulted in, a significant
health crisis that adversely affects local and global economies and financial
markets, including the companies that operate within these conditions. Each of
the above considerations related to the COVID-19 pandemic remain highly
uncertain and subject to change, continue to evolve, and have the potential to
have a material adverse impact on our business operations, results of
operations, financial condition, and cash flows. However, we cannot predict with
certainty the magnitude of such impacts at this time. The impact of COVID-19 may
also exacerbate our other risks, as described in Item 1A - Risk Factors included
in our Annual Report on Form 10-K for the year ended
Item 9.01Financial Statements and Exhibits.
(d) Exhibits. 99.1 Press release datedMay 5, 2020 .
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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