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These excerpts taken from the OPLK 10-K filed Sep 12, 2008. Foreign
Currency Exchange Rate Exposure
We operate in the United States, manufacture in China, and the
substantial majority of our sales to date have been made in
U.S. dollars. Certain expenses from our China operations
are incurred in the Chinese Renminbi. As a result, currency
fluctuations between the U.S. dollar and the Chinese
Renminbi could cause foreign currency transaction gains or
losses that we would recognize in the period incurred.
As of June 30, 2008, Renminbi appreciated by 10% against
the U.S. dollar compared to June 30, 2007. It is
uncertain what further adjustments will follow. The
Renminbi-U.S. dollar exchange rate could continue to float,
and the Renminbi could continue to appreciate relative to the
U.S. dollar.
We expect our international revenues and expenses to continue to
be denominated largely in U.S. dollars. We also believe
that our China operations will likely expand in the future as
our business continues to grow. As a result, we anticipate that
we may experience increased exposure to the risks of fluctuating
currencies and may choose to engage in currency hedging
activities to reduce these risks. However, we cannot be certain
that any such hedging activities will be effective, or available
to us at commercially reasonable rates.
The consolidated financial statements, related notes thereto and
financial statement schedule required by this item are set forth
beginning on
page F-1
at the end of this report. Supplementary financial information
regarding quarterly financial information required by this item
is set forth under the caption “Quarterly Results of
Operations” in “Item 7 —
Management’s Discussion and Analysis of Financial Condition
and Results of Operations.”
None.
Table of Contents
Foreign Currency Exchange Rate Exposure We operate in the United States, manufacture in China, and the substantial majority of our sales to date have been made in U.S. dollars. Certain expenses from our China operations are incurred in the Chinese Renminbi. As a result, currency fluctuations between the U.S. dollar and the Chinese Renminbi could cause foreign currency transaction gains or losses that we would recognize in the period incurred. As of June 30, 2008, Renminbi appreciated by 10% against the U.S. dollar compared to June 30, 2007. It is uncertain what further adjustments will follow. The Renminbi-U.S. dollar exchange rate could continue to float, and the Renminbi could continue to appreciate relative to the U.S. dollar. We expect our international revenues and expenses to continue to be denominated largely in U.S. dollars. We also believe that our China operations will likely expand in the future as our business continues to grow. As a result, we anticipate that we may experience increased exposure to the risks of fluctuating currencies and may choose to engage in currency hedging activities to reduce these risks. However, we cannot be certain that any such hedging activities will be effective, or available to us at commercially reasonable rates.
The consolidated financial statements, related notes thereto and financial statement schedule required by this item are set forth beginning on page F-1 at the end of this report. Supplementary financial information regarding quarterly financial information required by this item is set forth under the caption “Quarterly Results of Operations” in “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
None.
Table of ContentsThis excerpt taken from the OPLK 10-K filed Sep 14, 2007. Foreign
Currency Exchange Rate Exposure
We operate in the United States, manufacture in China, and the
substantial majority of our sales to date have been made in
U.S. dollars. Certain expenses from our China operations
are incurred in the Chinese Renminbi. As a result, currency
fluctuations between the U.S. dollar and the Chinese
Renminbi could cause foreign currency transaction gains or
losses that we would recognize in the period incurred. For
example, a 10% fluctuation in the dollar at June 30, 2007
would have an immaterial impact on our net dollar position in
outstanding trade payables and receivables.
In July 2005, China uncoupled Renminbi from the U.S. dollar
and allowed it to float in a narrow band against a basket of
foreign currencies. The move revalued Renminbi by 2.1% against
the U.S. dollar. As of June 30, 2007, Renminbi further
appreciated by 9% against the U.S. dollar. It is uncertain
what further adjustments will follow. The Renminbi could
appreciate relative to the U.S. dollar in the future.
We expect our international revenues and expenses to continue to
be denominated largely in U.S. dollars. We also believe
that our China operations will likely expand in the future as
our business continues to grow. As a result, we anticipate that
we may experience increased exposure to the risks of fluctuating
currencies and may choose to engage in currency hedging
activities to reduce these risks. However, we cannot be certain
that any such hedging activities will be effective, or available
to us at commercially reasonable rates.
The consolidated financial statements, related notes thereto and
financial statement schedules required by this item are listed
and set forth beginning on
page F-1,
and is incorporated by reference here. Supplementary financial
information regarding quarterly financial information required
by this item is set forth under the caption “Quarterly
Table of Contents
Results of Operations” in “Item 7 —
Management’s Discussion and Analysis of Financial Condition
and Results of Operations,” and is incorporated by
reference here.
None.
This excerpt taken from the OPLK 10-K filed Sep 15, 2006. Foreign
Currency Exchange Rate Exposure
We operate in the United States, manufacture in China, and the
substantial majority of our sales to date have been made in
U.S. dollars. Certain expenses from our China operations
are incurred in the Chinese Renminbi. As a result, currency
fluctuations between the U.S. dollar and the Chinese
Renminbi could cause foreign currency transaction gains or
losses that we would recognize in the period incurred. For
example, a 10% fluctuation in the dollar at June 30, 2006
would have an immaterial impact on our net dollar position in
outstanding trade payables and receivables.
In July 2005, China uncoupled Renminbi from the U.S. dollar
and will let it float in a narrow band against a basket of
foreign currencies. The move revalues Renminbi by 2.1% against
the U.S. dollar. It is possible that the Chinese government
could adopt a more flexible currency policy, which could result
in more significant fluctuation of Chinese renminbi against the
U.S. dollar. The Renminbi-U.S. dollar exchange rate
could float, and the Renminbi could appreciate relative to the
U.S. dollar. For example, if the Renminbi had been
revaluated at the beginning of the fiscal 2005 at 8.11 Renminbi
to the US dollar instead of the actual rate of 8.28, the impact
on our reported results for fiscal 2005 would have been to
increase net loss by approximately $75,000.
We expect our international revenues and expenses to continue to
be denominated largely in U.S. dollars. We also believe
that our China operations will likely expand in the future as
our business continues to grow. As a result, we anticipate that
we may experience increased exposure to the risks of fluctuating
currencies and may choose to engage in currency hedging
activities to reduce these risks. However, we cannot be certain
that any such hedging activities will be effective, or available
to us at commercially reasonable rates.
The consolidated financial statements, related notes thereto and
financial statement schedule required by this item are listed
and set forth beginning on
page F-1,
and is incorporated by reference here. Supplementary financial
information regarding quarterly financial information required
by this item is set forth under the caption “Quarterly
Results of Operations” in “Item 7 —
Management’s Discussion and Analysis of Financial Condition
and Results of Operations,” and is incorporated by
reference here.
None.
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