| Industries |
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| Construction and Engineering |
| Construction Materials |
| Construction and Farm Machinery and Heavy Trucks |
| Commercial and Professional Services |
| Diversified Commercial Services |
| Residential REITs |
| Health Care Facilities |
| Exposures |
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| Economic |
| Intelligence |
| Express intent |
| Military |
| Cooperate |
| Event Codes |
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| Accident |
| Yield to order |
| Endorse |
| Solicit support |
| Comment |
| Agree |
| Vote |
| Host meeting |
| Wiki | Wiki Summary |
|---|---|
| Lime (material) | Lime is a calcium-containing inorganic mineral composed primarily of oxides, and hydroxide, usually calcium oxide and/or calcium hydroxide. It is also the name for calcium oxide which occurs as a product of coal-seam fires and in altered limestone xenoliths in volcanic ejecta. |
| Knightian uncertainty | In economics, Knightian uncertainty is a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk (e.g., that in statistical noise or a parameter's confidence interval). The concept acknowledges some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events. |
| Uncertainty avoidance | In cross-cultural psychology, uncertainty avoidance is how cultures differ on the amount of tolerance they have of unpredictability. Uncertainty avoidance is one of five key qualities or dimensions measured by the researchers who developed the Hofstede model of cultural dimensions to quantify cultural differences across international lines and better understand why some ideas and business practices work better in some countries than in others. |
| Dependent territory | A dependent territory, dependent area, or dependency (sometimes referred as an external territory) is a territory that does not possess full political independence or sovereignty as a sovereign state, yet remains politically outside the controlling state's integral area. \nA dependent territory is commonly distinguished from a country subdivision by being considered not to be a constituent part of a sovereign state. |
| Dependent and independent variables | Dependent and Independent variables are variables in mathematical modeling, statistical modeling and experimental sciences. Dependent variables receive this name because, in an experiment, their values are studied under the supposition or demand that they depend, by some law or rule (e.g., by a mathematical function), on the values of other variables. |
| Average selling price | The average selling price (ASP) of goods or commodities is the average price at which a particular product or commodity is sold across channels or markets. The term is especially used in the retail sector and technology distribution. |
| Markup (business) | Markup (or price spread) is the difference between the selling price of a good or service and cost. It is often expressed as a percentage over the cost. |
| Polyvinyl chloride | Polyvinyl chloride (colloquial: polyvinyl, or simply vinyl; abbreviated: PVC) is the world's third-most widely produced synthetic polymer of plastic (after polyethylene and polypropylene). About 40 million tons of PVC are produced each year. |
| Customer Profitability Analysis | Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g. |
| Profitability index | Profitability index (PI), also known as profit investment ratio (PIR) and value investment ratio (VIR), is the ratio of payoff to investment of a proposed project. It is a useful tool for ranking projects because it allows you to quantify the amount of value created per unit of investment. |
| Requirements elicitation | In requirements engineering, requirements elicitation is the practice of researching and discovering the requirements of a system from users, customers, and other stakeholders. The practice is also sometimes referred to as "requirement gathering". |
| List of unsolved problems in economics | This is a list of some of the major unsolved problems, puzzles, or questions in economics. Some of these are theoretical in origin and some of them concern the inability of orthodox economic theory to explain an empirical observation. |
| Operation Crossroads | Operation Crossroads was a pair of nuclear weapon tests conducted by the United States at Bikini Atoll in mid-1946. They were the first nuclear weapon tests since Trinity in July 1945, and the first detonations of nuclear devices since the atomic bombing of Nagasaki on August 9, 1945. |
| MoD Corsham | MOD Corsham (formerly Basil Hill Barracks) is a Ministry of Defence establishment located between the towns of Corsham and Box in Wiltshire, England.\n\n\n== History ==\nThe War Office bought a section of the Pockeridge estate to provide space for Basil Hill Barracks in 1936. |
| Muteness | Muteness or mutism (from Latin mutus 'silent') is defined as an absence of speech while conserving or maintaining the ability to hear the speech of others. Mutism is typically understood as a person's inability to speak, and commonly observed by their family members, caregivers, teachers, doctors or speech and language pathologists. |
| Madonna–whore complex | In psychoanalytic literature, a Madonna–Whore Complex, also called a Madonna–Mistress Complex, is the inability to maintain sexual arousal within a committed, loving relationship. First identified by Sigmund Freud, under the rubric of psychic impotence, this psychological complex is said to develop in men who see women as either saintly Madonnas or debased prostitutes. |
| Operation Mincemeat | Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin. |
| Special operations | Special operations (S.O.) are military activities conducted, according to NATO, by "specially designated, organized, selected, trained, and equipped forces using unconventional techniques and modes of employment". Special operations may include reconnaissance, unconventional warfare, and counter-terrorism actions, and are typically conducted by small groups of highly-trained personnel, emphasizing sufficiency, stealth, speed, and tactical coordination, commonly known as "special forces". |
| GeneRally | A general officer is an officer of high rank in the armies, and in some nations' air forces, space forces, and marines or naval infantry.In some usages the term "general officer" refers to a rank above colonel.The term general is used in two ways: as the generic title for all grades of general officer and as a specific rank. \nIt originates in the 16th century, as a shortening of captain general, which rank was taken from Middle French capitaine général. |
| Boys Generally Asian | Boys Generally Asian, also known by the acronym BgA, is an American K-pop parody group that was created by YouTube personality Ryan Higa. The group, which describes itself as "guys who can't sing, dance or really speak Korean", debuted in 2016 with the single, "Dong Saya Dae". |
| Citation signal | In law, a citation or introductory signal is a set of phrases or words used to clarify the authority (or significance) of a legal citation as it relates to a proposition. It is used in citations to present authorities and indicate how those authorities relate to propositions in statements. |
| Video game | A video game or computer game is an electronic game that involves interaction with a user interface or input device – such as a joystick, controller, keyboard, or motion sensing device – to generate visual feedback. This feedback mostly commonly is shown on a video display device, such as a TV set, monitor, touchscreen, or virtual reality headset. |
| Construction grammar | Construction grammar (often abbreviated CxG) is a family of theories within the field of cognitive linguistics which posit that constructions, or learned pairings of linguistic patterns with meanings, are the fundamental building blocks of human language. Constructions include words (aardvark, avocado), morphemes (anti-, -ing), fixed expressions and idioms (by and large, jog X's memory), and abstract grammatical rules such as the passive voice (The cat was hit by a car) or the ditransitive (Mary gave Alex the ball). |
| Granite Construction | Granite Construction Inc. is a member of the S&P 600 Index based in Watsonville, California, and is the parent corporation of Granite Construction Company, a heavy civil general contractor and construction material producer. |
| Telecommunications Industry Association | The Telecommunications Industry Association (TIA) is accredited by the American National Standards Institute (ANSI) to develop voluntary, consensus-based industry standards for a wide variety of Information and Communication Technologies (ICT) products, and currently represents nearly 400 companies. TIA's Standards and Technology Department operates twelve engineering committees, which develop guidelines for private radio equipment, cellular towers, data terminals, satellites, telephone terminal equipment, accessibility, VoIP devices, structured cabling, data centers, mobile device communications, multimedia multicast, vehicular telematics, healthcare ICT, machine to machine communications, and smart utility networks. |
| Telecommunications industry in China | This article discusses the telecommunications industry in mainland China. For Hong Kong and Macau, see Communications in Hong Kong and Communications in Macau.The telecommunications industry in China is dominated by three state-run businesses: China Telecom, China Unicom and China Mobile. |
| Access Industries | Access Industries, Inc. is an American privately held multinational industrial group. |
| Alliance for Telecommunications Industry Solutions | The Alliance for Telecommunications Industry Solutions (ATIS) is a standards organization that develops technical and operational standards and solutions for the ICT industry, headquartered in Washington, D.C. The organization is accredited by the American National Standards Institute (ANSI). It is the North American Organizational Partner for the 3rd Generation Partnership Project (3GPP), a founding Partner of the oneM2M global initiative, a member of and major U.S. contributor to the International Telecommunication Union (ITU), as well as a member of the Inter-American Telecommunication Commission (CITEL).ATIS has 150 member companies, including various telecommunications service providers, equipment manufacturers, and vendors. |
| Telecommunications industry in Hong Kong | The Office of the Telecommunications Authority (OFTA) is the legislative body responsible for regulating the telecommunications industry in Hong Kong. The OFTA has liberalized all telecom sectors and there are no foreign ownership restrictions. |
| Latin script | The Latin script, also known as Roman script, is an alphabetic writing system based on the letters of the classical Latin alphabet, derived from a form of the Cumaean Greek version of the Greek alphabet used by the Etruscans. Several Latin-script alphabets exist, which differ in graphemes, collation and phonetic values from the classical Latin alphabet. |
| Facility ID | The facility ID number, also called a FIN or facility identifier, is a unique integer number of one to six digits, assigned by the U.S. Federal Communications Commission (FCC) Media Bureau to each broadcast station in the FCC Consolidated Database System (CDBS) and Licensing and Management System (LMS) databases, among others.\nBecause CDBS includes information about foreign stations which are notified to the U.S. under the terms of international frequency coordination agreements, FINs are also assigned to affected foreign stations. |
| Customer service | Customer service is the provision of service to customers before, during, and after a purchase. This makes it an important part of the value chain of clients. |
| Foreign market entry modes | For international trade, Foreign market entry modes are the ways in which a company can expand its services into a non-domestic market.\nThere are two major types of market entry modes: equity and non-equity. |
| Strategic intelligence | Strategic intelligence (STRATINT) pertains to the collection, processing, analysis, and dissemination of intelligence that is required for forming policy and military plans at the national and international level. Much of the information needed for strategic reflections comes from Open Source Intelligence. |
| List of mergers and acquisitions by Meta Platforms | Meta Platforms (formerly Facebook, Inc.) is a technology company that has acquired 91 other companies, including WhatsApp. The WhatsApp acquisition closed at a steep $16 billion; more than $40 per user of the platform. |
| Risk Factors |
|---|
| LAMSON & SESSIONS CO Item 1A RISK FACTORS From time to time, information we provide, statements by our employees or information included in our filings with the Securities and Exchange Commission may contain forward-looking statements that are not historical facts |
| Those statements are “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995 |
| Such forward-looking statements, and our future performance, operating results, financial position and liquidity, are subject to a variety of factors that could materially affect results, including those described below |
| Any forward-looking statements made in this report or otherwise speak only as of the date of such statement, and we undertake no obligation to update such statements |
| Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data |
| You should carefully consider each of the risks and uncertainties we describe below and all other information in this report |
| The risks and uncertainties we describe below are not the only ones we face |
| Additional risks and uncertainties of which we are currently unaware or that we currently believe to be immaterial may also adversely affect our business |
| Profitability of the PVC Pipe segment is dependent on the spread between selling price and cost per pound |
| The PVC Pipe segment’s profitability is dependent on the comparative spread between the selling price of PVC conduit and the raw material cost of PVC resin |
| Both of these prices and the profitability of the PVC Pipe segment have been historically volatile |
| The selling price of PVC conduit is adjusted often in response to conduit demand and inventory levels |
| PVC resin costs, which are adjusted monthly, are driven by vinyl chloride monomer (VCM) feedstock and energy (natural gas) costs along with demand and inventory levels |
| In the event of a significant increase in PVC resin capacity or a significant decrease in the demand for PVC 5 _________________________________________________________________ [56]Table of Contents resin, resulting in a period where there is an excess supply of PVC resin, our margins and profitability could be negatively impacted |
| While we generally attempt to pass along increased raw materials prices to our customers in the form of price increases, there may be a time delay between the increased raw materials prices and our ability to increase the price of our products, or we may be unable to increase the prices of our products due to pricing pressure or other factors |
| In either case, there may be a material adverse impact on our profitability |
| We are dependent on limited suppliers, and our ability to produce products or otherwise meet customer needs could be adversely impacted if these suppliers were unable to meet our requirements in a timely manner |
| Over the past several years, approximately 90-95prca of the PVC pipe grade resin that we use has been supplied to us by two resin manufacturers |
| As of the beginning of 2006, we have entered into a long-term agreement with one of these suppliers to provide substantially all of our PVC resin requirements |
| In addition, this supplier provides us with the majority of our PVC molding compound |
| Approximately 12-15prca of our molded products, sold through the Carlon or Lamson Home Products’ business segments, are made by domestic outsource molders |
| There are a limited number of vendors capable of molding these PVC products, and our molding facilities are run nearly at capacity |
| Any significant accidents, labor disputes, fires, severe weather, floods or other difficulties encountered by our principal suppliers could result in production delays or the inability to fulfill orders on a timely basis |
| For example, in September and October of 2005, all five PVC resin suppliers declared “force majeure” (meaning acts of nature that allow the suppliers to avoid contractual obligations) due to the effects of Hurricanes Katrina and Rita and due to an accident at one resin manufacturing facility |
| This resulted in constrained resin supply and significantly higher resin and transit costs through the last four months of 2005 |
| We maintain a relatively small inventory of raw materials and component parts, and any interruption or delay in the supply of our raw materials or products from our current principal suppliers or our inability to obtain our products from alternative sources at acceptable quality and price levels and within a reasonable amount of time could substantially impair our ability to meet scheduled product deliveries to our customers and could cause our customers to cancel orders, both of which could have a material adverse effect on our business and results of operations |
| During the last four months of 2005, the continued demand for conduit products, coupled with material shortages and cost increases resulting from the declaration of force majeure by our suppliers after the hurricanes, drove the selling price of our PVC conduit products up dramatically and led to higher than usual backlog and delivery lead times |
| Because we experience seasonal fluctuations in our sales, our quarterly results will fluctuate, and our annual performance will be affected by those fluctuations |
| Although demand and selling prices increased in the fourth quarter of 2005 primarily due to the effects of Hurricanes Katrina and Rita on the supply of PVC resin, we have generally had weaker demand for our products in the first and fourth quarters due to seasonal factors affecting our customers in the construction industry |
| If winter weather conditions occur early in the fourth quarter, we are not able to recover the loss of revenues in that quarter |
| If our revenue during any quarter were to fall below the expectations of investors or securities analysts, our share price could decline, perhaps significantly |
| The demand for our products is dependent on the strength of construction and telecommunications industries, which have been cyclical industries |
| A substantial number of our customers are in the construction and telecommunications industries |
| Each of those industries is cyclical in nature, influenced by a combination of factors, including, among other things, periods of economic growth and recession, strength and weakness of the United States dollar, prevailing interest rates and the rate of construction of telecommunications infrastructure |
| In addition, adverse weather conditions may affect construction activity, which is generally strongest in the late spring, summer and fall |
| 6 _________________________________________________________________ [57]Table of Contents Most of our products are sold into the various construction market segments |
| Commercial and industrial construction is the largest market (35-40prca of net sales) serviced by us, and it has only recently begun to expand |
| Residential, including both new construction and home improvement activity, is the next largest end market (25-30prca of net sales) and has seen robust growth in the last couple of years but is starting to level off and decline slightly |
| The telecommunications infrastructure industry is another major market in which we participate (20-25prca of net sales) |
| Spending by our telecom customers plummeted in 2001, negatively impacting net sales and operating results for a few years |
| Our business is dependent on continued capital spending by the construction and telecommunications industries, and an increase in interest rates could affect their capital spending and our revenue |
| Loss of a significant facility or operating problems in our business may materially adversely affect our financial condition and results of operations |
| The occurrence of material operating problems at our facilities may have a material adverse effect on our results of operations, both during and after the period of operational difficulties |
| While there is some overlap among our facilities in the products which each facility can produce, each facility produces a limited array of products, and our ability to supply certain products to our customers could be adversely affected if a facility were shut down as a result of a natural disaster or other cause |
| For example, if our Clinton, Iowa facility were shut down, our ability to produce outlet boxes would be substantially reduced |
| In addition, many of our products are subject to certification under industry standards promulgated by organizations such as Underwriters Laboratory, National Electrical Manufacturers Association, the American Society for Testing and Materials and Canadian Standards Association, and failure to produce products that consistently meet those standards would have an adverse impact on sales and scrap rates |
| Approximately 43prca of our employees were covered by five collective bargaining agreements, the earliest of which expires in May 2007 |
| Although we believe our relations with the unions are good, we cannot assure you that these agreements will be renewed on similar terms or renegotiated on acceptable terms |
| Any prolonged work stoppages in one or more of our facilities could materially adversely affect our results of operations |
| We are dependent on key customers |
| We rely on several key customers |
| For the year ended December 31, 2005, our top ten customers accounted for approximately 63prca of our net sales |
| Many of our customers place orders for products on an as-needed basis and operate in cyclical industries, and as a result, their order levels have varied from period to period in the past and may vary significantly in the future |
| Due to competitive issues, we have lost business with key customers in the past and may again in the future |
| Customer orders are dependent upon their markets and may be subject to delays or cancellations |
| As a result of dependence on our key customers, we could experience a material adverse effect on our business and results of operations if any of the following were to occur: • the loss of a key customer, in whole or in part; • the insolvency or bankruptcy of any key customer; • a declining market in which customers reduce order or demand reduced prices; or • a strike or work stoppage at a key customer facility, which could affect both their suppliers and customers |
| There is also customer concentration within our segments |
| For example, over 90prca of Lamson Home Products’ net sales are to its top ten customers in the “Do-it-Yourself” home improvement market |
| These customers’ businesses are dependent on servicing them at high order fill rate levels |
| In addition, we support them with a significant amount of marketing support through customized packaging and point of purchase materials |
| We may not be able to increase or sustain our amount of retail shelf space or promotional resources or offer retailers price discounts, and as a result, our sales and results of operations may be adversely affected |
| Additionally, economic downturns or recessions could force retailers to negotiate better terms of sale, which we may be unable to accept |
| Retailers may give higher priority to products other than ours, thus reducing their efforts to sell our products |
| 7 _________________________________________________________________ [58]Table of Contents We may encounter difficulties in expanding our business through strategic alliances and targeted acquisitions |
| As part of our business strategy, we have pursued, and may continue to pursue, strategic alliances and targeted acquisition opportunities that we believe would complement our business |
| Any strategic alliances or targeted acquisitions will be accompanied by the risks commonly encountered in strategic alliances and acquisitions of businesses |
| We may not be successful in overcoming these risks or any other problems encountered in connection with any of our strategic alliances or acquisitions |
| For example, depending upon the nature, size and timing of future acquisitions, we may be required to obtain the consent of our senior lenders or raise additional financing, which may not be available to us upon acceptable terms |
| Further, we may not be able to successfully integrate any acquired business with our existing businesses or recognize any expected advantages from any completed acquisition |
| We cannot assure you that we will be successful in entering into any strategic alliance or consummating any acquisition |