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Addvantage Technologies Group Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:
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Inventory Valuation For our Telco segment, our position in the telecommunications industry requires us to carry relatively large inventory quantities relative to annual sales, but it also allows us to realize high overall gross profit margins on our sales.
Gross margin increased primarily as a result of the segment's increase in revenues coupled with an increase in gross profit percent by 5% due to price elasticity associated with global supply chain issues.
If actual market conditions differ from those projected by management, this could have a material impact on our gross margin and inventory balances based on additional write-downs to net realizable value or a benefit from inventories previously written down.
The improvement in gross profit was due to strong demand in our Telco segment fueled by global supply issues, along with expansion of our offerings to both wireless and optical network carriers to support both wireless and broadband connectivity for optical and IP transport.
The increase in operating expenses was due primarily to our investment in our regional growth strategy to meet the demand of our customers in the Wireless segment, partially offset by cost control measures instituted by the Company during the latter part of the first quarter and continuing throughout 2022.
Fulton has maintained a strong...Read more
Adjusted EBITDA as presented also...Read more
The increased gross profit was...Read more
The increase was related to...Read more
The increase in revenues was...Read more
The growth in revenues over...Read more
Consolidated SG&A expense increased $0.5...Read more
The increase was attributable to...Read more
Adjusted EBITDA is presented below...Read more
Cash Flows Provided by (Used...Read more
The increase was primarily due...Read more
Consolidated operating expenses increased $0.5...Read more
Non-GAAP Financial Measure Adjusted EBITDA...Read more
A reconciliation by segment of...Read more
SG&A expense increased $0.7 million...Read more
Operating expenses increased $0.5 million...Read more
Our goal is to solidify...Read more
The growth in revenues over...Read more
Intangibles Intangible assets that have...Read more
The decrease in the gross...Read more
Sales for the Wireless segment...Read more
Comparison of Operating Results for...Read more
Segment results Wireless Revenues for...Read more
Telco Revenues for the Telco...Read more
Results of Operations Comparison of...Read more
Consolidated gross profit increased $11.6...Read more
Telco gross profit increased $9.3...Read more
We have developed the internal...Read more
Purchasing and receiving costs, inspection...Read more
Cash Flows Provided by (Used...Read more
Segment Results Wireless Revenues for...Read more
Telco Revenues for the Telco...Read more
We have also increased our...Read more
In addition, the Telco segment...Read more
At Triton, our facility is...Read more
The increase in sales was...Read more
The increase in SG&A relates...Read more
The increase in SG&A relates...Read more
Gross profit increased $9.3 million,...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Addvantage Technologies Group Inc provided additional information to their SEC Filing as exhibits
Ticker: AEY
CIK: 874292
Form Type: 10-K Annual Report
Accession Number: 0001628280-23-008742
Submitted to the SEC: Tue Mar 21 2023 4:13:40 PM EST
Accepted by the SEC: Tue Mar 21 2023
Period: Saturday, December 31, 2022
Industry: Wholesale Durable Goods