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SMG » Topics » Foreign Operations and Currency Exposures

These excerpts taken from the SMG 10-K filed Dec 3, 2008.
Foreign Operations and Currency Exposures
 
We currently operate manufacturing, sales and service facilities outside of the United States, particularly in Canada, France, the United Kingdom, Germany and the Netherlands. In fiscal 2008, international net sales, including Canada, accounted for approximately 24% of our total net sales. Accordingly, we are subject to risks associated with operating in foreign countries, including:
 
  •  fluctuations in currency exchange rates;
 
  •  limitations on the remittance of dividends and other payments by foreign subsidiaries;
 
  •  additional costs of compliance with local regulations; and
 
  •  historically, in certain countries, higher rates of inflation than in the United States.
 
In addition, our operations outside the United States are subject to the risk of new and different legal and regulatory requirements in local jurisdictions, potential difficulties in staffing and managing local operations and potentially adverse tax consequences. The costs related to our international and Canadian operations could adversely affect our operations and financial results in the future.
 
Foreign
Operations and Currency Exposures


 



We currently operate manufacturing, sales and service facilities
outside of the United States, particularly in Canada, France,
the United Kingdom, Germany and the Netherlands. In fiscal 2008,
international net sales, including Canada, accounted for
approximately 24% of our total net sales. Accordingly, we are
subject to risks associated with operating in foreign countries,
including:


 














































  • 
fluctuations in currency exchange rates;
 
  • 
limitations on the remittance of dividends and other payments by
foreign subsidiaries;
 
  • 
additional costs of compliance with local regulations; and
 
  • 
historically, in certain countries, higher rates of inflation
than in the United States.


 



In addition, our operations outside the United States are
subject to the risk of new and different legal and regulatory
requirements in local jurisdictions, potential difficulties in
staffing and managing local operations and potentially adverse
tax consequences. The costs related to our international and
Canadian operations could adversely affect our operations and
financial results in the future.


 




These excerpts taken from the SMG 10-K filed Nov 25, 2008.
Foreign Operations and Currency Exposures
 
We currently operate manufacturing, sales and service facilities outside of the United States, particularly in Canada, France, the United Kingdom, Germany and the Netherlands. In fiscal 2008, international net sales, including Canada, accounted for approximately 24% of our total net sales. Accordingly, we are subject to risks associated with operating in foreign countries, including:
 
  •  fluctuations in currency exchange rates;
 
17

Table of Contents

 
  •  limitations on the remittance of dividends and other payments by foreign subsidiaries;
 
  •  additional costs of compliance with local regulations; and
 
  •  historically, in certain countries, higher rates of inflation than in the United States.
 
In addition, our operations outside the United States are subject to the risk of new and different legal and regulatory requirements in local jurisdictions, potential difficulties in staffing and managing local operations and potentially adverse tax consequences. The costs related to our international and Canadian operations could adversely affect our operations and financial results in the future.
 
Foreign
Operations and Currency Exposures


 



We currently operate manufacturing, sales and service facilities
outside of the United States, particularly in Canada, France,
the United Kingdom, Germany and the Netherlands. In fiscal 2008,
international net sales, including Canada, accounted for
approximately 24% of our total net sales. Accordingly, we are
subject to risks associated with operating in foreign countries,
including:


 
















  • 
fluctuations in currency exchange rates;

 



17






Table of Contents





 




































  • 
limitations on the remittance of dividends and other payments by
foreign subsidiaries;
 
  • 
additional costs of compliance with local regulations; and
 
  • 
historically, in certain countries, higher rates of inflation
than in the United States.


 



In addition, our operations outside the United States are
subject to the risk of new and different legal and regulatory
requirements in local jurisdictions, potential difficulties in
staffing and managing local operations and potentially adverse
tax consequences. The costs related to our international and
Canadian operations could adversely affect our operations and
financial results in the future.


 




This excerpt taken from the SMG 10-K filed Nov 29, 2007.
Foreign Operations and Currency Exposures
 
We currently operate manufacturing, sales and service facilities outside of the United States, particularly in Canada, France, the United Kingdom, Germany and the Netherlands. In fiscal 2007, International net sales, including Canada, accounted for approximately 21% of our total net sales. Accordingly, we are subject to risks associated with operations in foreign countries, including:
 
  •  fluctuations in currency exchange rates;
 
  •  limitations on the remittance of dividends and other payments by foreign subsidiaries;
 
  •  additional costs of compliance with local regulations; and
 
  •  historically, in certain countries, higher rates of inflation than in the United States.
 
In addition, our operations outside the United States are subject to the risk of new and different legal and regulatory requirements in local jurisdictions, potential difficulties in staffing and managing local operations and potentially adverse tax consequences. The costs related to our International and Canadian operations could adversely affect our operations and financial results in the future.
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Dec 3, 2008
10-K (2 sections)
Nov 25, 2008
10-K
Nov 29, 2007

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