Company: SIF
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0000090168-25-000012
Chunk: 3

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 significant accounting policies is included in Note 1 to the audited consolidated financial statements of the Company’s 2024 Annual Report.

C. Net Loss per Share

The Company’s net loss per basic share has been computed based on the weighted-average number of common shares outstanding. zero The dilutive effect is as follows:

                                                                                                            2024                    2023                    
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Loss from continuing operations                                                                           $         ( 2,422)      ( 4,069)                
  Income from discontinued operations, net of tax                                                           106                     647                     
  Net loss                                                                                                  $         ( 2,316)      $             ( 3,422)  
  Weighted-average common shares outstanding (basic and diluted)                                                         6,016                       5,956  
  Net earnings (loss) per share – basic and diluted:                                                                                                        
  Continuing operations                                                                                     $          ( 0.40)      $              ( 0.67)  
  Discontinued operations                                                                                   0.02                    0.10                    
  Net loss per share                                                                                        $          ( 0.38)      $              ( 0.57)  
  Anti-dilutive weighted-average common shares excluded from calculation of diluted earnings per share      149                     249                     

D. Recent Accounting Standards Adopted

None applicable.

E. Reclassifications

Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. For the three months ended December 31, 2024, the Company revised its classification within the consolidated condensed statements of cash flows by moving the prior period amount for contract liabilities from accrued liabilities to contract liabilities to conform to current period presentation.

2. Discontinued Operations

The Company committed to the plan to sell CBlade in August 2024 in order to streamline operational synergies and refocus on its core aerospace forging entities. On August 1, 2024, the Company’s Board of Directors approved and authorized the execution of a share purchase agreement (the “ SPA”), under which SIFCO Irish Holdings, Ltd., a wholly owned subsidiary of the Company, entered into an agreement to sell 100 20,000 13,800

In October 2024, upon regulatory approval, the Company completed the sale of CBlade and received cash consideration of approximately $ 14,586 352

Due to the CBlade