Company: SIF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000090168-25-000025
Chunk: 12

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 balance          $                 10,745      $                 10,091  
  Additional revenue recognized over-time                        22,717                        19,250  
  Less amounts billed to the customers                        ( 22,452)                     ( 19,365)  
  Contract assets — ending balance             $                 11,010      $                  9,976  

                                                               March 31,                 March 31,             
  Contract liabilities — beginning balance                     $              2,879      $                731  
  Payments received in advance of performance obligations                     1,554                     1,683  
  Performance obligations satisfied                            ( 1,665)                  ( 1,523)              
  Contract liabilities — ending balance                        $              2,768      $                891  

During the three and six months ended March 31, 2025, the Company recognized revenues of approximately $ 730 1,665 1,523 1,523

Accounts receivable were $ 15,638 14,677 no

Remaining performance obligations

As of March 31, 2025, the Company has $ 129,218 98,883 12

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.

13. Business Information

The Company is a party to collective bargaining agreements (“ CBA”) with certain employees located in Cleveland, which has two

The Company’s Cleveland bargaining unit 1 ratified its CBA in fiscal2020 and it expired on May 15, 2025. On May 9, 2025, t