Company: SIF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000090168-25-000025
Chunk: 3

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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      $             $                     ( 3,708)      $             ( 5,013)  
  Weighted-average common shares outstanding (basic and diluted)                                                                       6,068                                             6,042                       5,983  
  Net earnings (loss) per share – basic and diluted:                                                                                                                                                                        
  Continuing operations                                                                                     $                        ( 0.22)      $             $                      ( 0.62)      $              ( 1.05)  
  Discontinued operations                                                                                   ( 0.01)                               0.11          0.01                                0.21                    
  Net loss per share                                                                                        $                        ( 0.23)      $             $                      ( 0.61)      $              ( 0.84)  
  Anti-dilutive weighted-average common shares excluded from calculation of diluted earnings per share      156                                   258           152                                 253                     

D. Recent Accounting Standards Adopted

None applicable.

E. Impact of Newly Issued Accounting Standards

In January 2025, the Financial Accounting Standards Board (“ FASB”) issued Accounting Standards Update (“ ASU”) 2025-01, “ Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date” (“ ASU 2025-01”). ASU 2025-01 outlines the effective date of ASU 2024-03, “ Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ ASU 2024-03”), as the first annual reporting period beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption of ASU 2024-03 is still permitted. ASU 2024-03 requires both interim and annual disclosures pertaining to expense captions on the face of the income statement within continuing operations containing the following amounts: (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization, and (v) depreciation, depletion, and amortization recognized as part of oil and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption. This disaggregated information will be required to be disclosed with other disaggregated amounts under other U. S. GAAP guidance, such as revenue and income taxes