Recent Developments

Impact of COVID-19

The COVID-19 pandemic has significantly impacted our ability to meet demand for the Company's products. While these impacts began to subside in 2023, the Company is still experiencing, supply chain and logistic constraints and increased costs that negatively impact its ability to manufacture and ship products to meet customer requirements.

Business Overview

The following management's discussion and analysis of financial condition and results of continuing operations should be read in conjunction with the Company's financial statements and notes and other information included elsewhere in this Quarterly Report on Form 10-Q.

Backlog

The Company's backlog was approximately $238 million and $230 million at March 31, 2023 and December 31, 2022, respectively.

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