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Information About Forward-Looking Statements
This Annual Report on Form 10-K ("Annual Report") includes and incorporates by reference "forward-looking statements" within the meaning of the federal securities laws. In addition, we, or our executive officers on our behalf, may from time to time make forward-looking statements in reports and other documents we file with the U.S. Securities and Exchange Commission ("SEC") or in connection with oral statements made to the press, potential investors or others. All statements that are not historical facts are "forward-looking statements." Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" and similar words and phrases. These statements reflect management's current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in any forward-looking statement.
Examples of forward-looking statements in this report include but are not limited to statements regarding operating results, the success of our operating plans, our expectations regarding our ability to generate cash and reduce debt and associated interest expense, profit and cash flow expectations, the prospects for newly acquired businesses to be integrated and contribute to future growth and our expectations regarding growth through acquisitions. Important assumptions relating to the forward-looking statements include, among others, demand for our products, the cost, timing and success of product upgrades and new product introductions, raw material costs, expected pricing levels, expected outcomes of pending litigation, competitive conditions and general economic conditions. These assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations may prove to be incorrect. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to:
| ● | general economic conditions; |
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| ● | difficulty making acquisitions and successfully integrating acquired businesses; |
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| ● | any unforeseen liabilities associated with future acquisitions; |
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| ● | limitations on our business imposed by our indebtedness; |
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| ● | unfavorable changes in foreign exchange rates; |
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| ● | difficulties associated with exports; |
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| ● | risks and costs associated with our international sales and operations; |
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| ● | product liability and insurance risks; |
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| ● | increased warranty exposure; |
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| ● | the cyclical nature of some of our markets; |
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| ● | reduction of business with large customers; |
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| ● | risks associated with government contracts; |
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| ● | changes in the supply of, or price for, raw materials, parts and components; |
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| ● | environmental compliance costs and liabilities; |
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| ● | risks and costs associated with asbestos-related litigation; |
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| ● | potential write-offs of our substantial goodwill and other intangible assets; |
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| ● | our ability to successfully develop new products; |
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| ● | failure to protect our intellectual property; |
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| ● | the effect of, or change in, government regulations (including tax); |
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| ● | economic disruption caused by terrorist attacks, including cybersecurity threats, health crises or other unforeseen events; and |
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| ● | the factors discussed in Item 1A to this Annual Report under the heading "Risk Factors." |
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We believe these forward-looking statements are reasonable. However, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update any of them in light of new information or future events.
PART I
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