Company: SIF
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0000090168-25-000012
Chunk: 9

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 balance                     $                 2,879      $                   731  
  Payments received in advance of performance obligations      440                                            1,675  
  Performance obligations satisfied                            ( 935)                       —                        
  Contract liabilities — ending balance                        $                 2,384      $                 2,406  

Accounts receivable were $ 15,638 12,421 no

Remaining performance obligations

As of December 31, 2024, the Company has $ 121,900 twelve months

11. Commitments and Contingencies

In the normal course of business, the Company may be involved in ordinary, routine legal actions. The Company cannot reasonably estimate future costs, if any, related to these matters; however, it does not believe any such matters are material to its financial condition or results of operations. The Company maintains various liability insurance coverages to protect its assets from losses arising out of or involving activities associated with ongoing and normal business operations; however, it is possible that the Company’s future operating results could be affected by future costs of litigation.

12. Related Party Transactions

In October 2024, the Company repaid all amounts outstanding under its secured subordinated loan from Garnet Holdings, Inc., a California corporation owned and controlled by Mark J. Silk (“ GHI”) (Mr. Silk is a member of the Board of Directors of the Company and considered a related party), in the original principal amount of $ 3,000 880 150 Debt for further information.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations