ORBT — what changed in the latest 10-Q
A section-by-section comparison of ORBT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2014-08-14 vs the prior 10-Q · 2014-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +26 | −15 | ~26 | 11 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Legal proceedings, Risk factors, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2014-08-14
We recorded a decrease in our operating results for the three and six months ended June 30, 2014 as compared to the comparable prior year periods. Our net sales for the three and six months ended June 30, 2014 decreased by 16.7% and 19.5%, respectively, as compared to the prior year three and six mo…
We are authorized to repurchase up to the remaining $200,000 of common stock under the $400,000 buyback program outside of the 10b5-1 Plan. From November 6, 2013 to February 27, 2014, we purchased a total of approximately 58,000 shares of our common stock for total cash consideration of approximatel…
Our business is highly dependent on the level of military spending authorized by the U.S. Government. The current administration and Congress are under increasing pressure to reduce the federal budget deficit. This has resulted in a general decline in U.S. defense spending and could cause federal go…
Consolidated net sales for the three month period ended June 30, 2014 decreased by 16.7% to $5,396,000 from $6,475,000 for the three month period ended June 30, 2013, due primarily to lower sales from both our Electronics and Power Groups. Sales from our Electronics Group decreased by 19.7% to $2,66…
Gross profit, as a percentage of sales, for the three months ended June 30, 2014 increased to 41.5% from 38.6% for the three month period ended June 30, 2013. The increase was the result of higher gross profit at our Electronics Group and slightly higher gross profit at our Power Group. The increase…
Text removed vs the prior filing · source: 10-Q · 2014-05-15
We recorded a decrease in our operating results for the three months ended March 31, 2014 as compared to the prior year period. Our sales decreased by 22.3% and we recorded a net loss of $1,062,000 during the current year period as compared to a net loss of $80,000 in the prior year period. Our net …
Our business is highly dependent on the level of military spending authorized by the U.S. Government. The current administration and Congress are under increasing pressure to reduce the federal budget deficit. This has resulted in a general decline in U.S. defense spending and could cause federal go…
Consolidated net sales for the three month period ended March 31, 2014 decreased by 22.3% to $5,007,000 from $6,447,000 for the three month period ended March 31, 2013. The decrease was principally due to decreases of 8.9% and 35.7% from both our Electronics and Power Groups, respectively. The decre…
Gross profit, as a percentage of sales, for the three months ended March 31, 2014 decreased to 30.0% from 38.6% for the three month period ended March 31, 2013. The decrease was primarily the result of lower gross profit from both our Electronics Group (26.3% in the current year period compared to 2…
Selling, general and administrative expenses increased slightly to $2,543,000 for the three month period ended March 31, 2014 from $2,531,000 for the three month period ended March 31, 2013 principally due to higher selling, general and administrative expenses from our Electronics Group that was par…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice