Company: SENEA
Filing Date: 2025-06-12
Form Type: 10-K
Source: 0001437749-25-020197
Chunk: 5

Company: Seneca Foods Corp
Filing Date: 2025-06-12
Form: 10-K
Item: Item 1
Chunk 5
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62,460

			213,015

			70,791

			43,580

			Revolver outstanding (at quarter end)

			209,189

			146,421

			42,196

			1,000

			Fiscal Year 2024:

			Net sales

			$
			298,664

			$
			407,475

			$
			444,481

			$
			307,983

			Gross margin

			55,289

			58,118

			54,033

			20,778

			Net earnings (loss)

			23,111

			24,779

			17,675

			(2,247
			)

			Accounts receivable, net (at quarter end)

			84,964

			128,380

			89,928

			79,767

			Inventories (at quarter end)

			735,124

			1,013,447

			968,889

			872,692

			Accounts payable (at quarter end)

			117,700

			321,579

			125,182

			40,326

			Revolver outstanding (at quarter end)

			52,064

			134,757

			258,108

			237,225

Competition

Competition in the packaged food industry is substantial with brand recognition and promotion, quality, service, and pricing being the major determinants in the Company’s relative market position. The Company believes that it is a major producer of canned vegetables, frozen vegetables, and jarred fruit but some producers of these products have sales which exceed the Company's sales. The Company is aware of at least 13 competitors in the United States packaged fruit and vegetable industry, many of which are privately held companies.

5

Government Regulation

The Company is subject to extensive regulations in the United States by federal, state and local government authorities. In the United States, the federal agencies governing the manufacture, marketing and distribution of our products include, among others, the Federal Trade Commission (“FTC”), the United States Food & Drug Administration (“FDA”), the United States Department of Agriculture (“USDA”), the United States Environmental Protection Agency (“EPA”) and the Occupational Safety and Health Administration (“OSHA”). Under various statutes, these agencies prescribe and