Willdan(US:WLDN)2022-08-04 23:06Financial Position - As of July 1, 2022, the company had cash and cash equivalents of $5.8 million[211] - The company had $70.0 million outstanding under its Term A Loan and $42.5 million under its delayed draw term loan as of July 1, 2022[212] Contract Types - 22% of the company's contracts are time-and-materials contracts, 47% are unit-based contracts, and 31% are fixed price contracts as of July 1, 2022[196] Interest Rate Risk - A one percentage point increase in the effective interest rate would change the company's annual interest expense by approximately $1.1 million in 2022[213] - The Term A Loan amortizes quarterly in installments of $2.5 million, with a final payment due on June 26, 2024[214] - The company is subject to interest rate risk due to its variable rate debt, including the Term A Loan and revolving credit facility[212] Economic Impact - Inflationary pressures may impact the customers of the company's utility clients, potentially affecting future revenues[195] Performance Guarantees - The company has not experienced significant costs under performance guarantees related to its contracts[200] Internal Controls - The company maintains effective disclosure controls and procedures as of July 1, 2022[216] - No material changes in internal control over financial reporting occurred during the reporting period[217]