to the quarter I'd fiscal to and call. conference To quarter's walk welcome some like everyone, through morning, first of our highlights. Good begin, XXXX
the report double-digit a with the growth We are first revenue year quarter. to start in strong to pleased
deepen leading reach in to relationships strategy We Veth our expand continued solutions advancing provider with on we as our a scale. a long-term are Hybrid OEMs major have and making and Electrification of becoming of progress global
exceptionally Oy, Katsa impact demand by the business, of the our Marine and strong. in was Propulsion of primarily acquisition along in quarter Veth with driven performance where remains the growth Our for
you As stabilizing. in fiscal recall, of is has build materialized. industrial our in business many took Veth in which increased within since up demand demand, we End steps anticipation proactive market to of XXXX inventory
long-term However, the addition the with Katsa our of our of of due largest this The addition broadened date, OEMs, ahead which opened quarter our cross-selling The supporting largely we acquisition grew opportunities reach business to expect of global European up new Katsa, performance. to Katsa. to and is progressing second schedule. has leading integration continue
Sales Katsa year-over-year, markets Propulsion Shifting impact our our sustained product the of activity grew and acquisition. results. in segment Marine XX.X% commercial segment to driven the by and in
Veth and luxury the XX% to Within noise our October, reached highs and for and backlog maneuverability fuel market, grew levels. customers in global quarter. added by products a Incoming its the orders ELITE continues expand by all-time thrusters, vibration on for an increased low in their efficiency, driven yacht for part Veth demand scale seek out in sequentially the which
largest our thrusters gaining this geographic Veth's positioned be of markets for is to with strong in in to due one are product. and customers Europe, American North We new ELITE part traction distributor demand beyond already largest
like adding that systems. the demand We electric supply content fleet to customers have and are enables engine content capturing vessel would for hybrid hybrid to for site a that powered motors, on system by also that in XXx internal a by us been and inverters. are needed We won converting marine converters batteries, order controls, combustion recently Northeast ship a the
hybrid systems the for We large Panama also drives, delivered drive multiple in Canal. units for which control and marine use structures
space. opportunities these in electrification the on focus strategic our expanding pursuing continue We will hybrid of part our and as growth offerings types of
government heightened in mentioned for few in As the term. long-term boat has near which of past supported growth drive a patrol the should increased inquiries additional defense trend projects, spending quarters,
a sales, region. this, we're transmission in and We demand flat, Pacific by Despite backlog roughly our quarter. business, reflecting our of revenue transmissions Land-Based or and levels gas business. to in Asian saw firefighting as rescue primarily the exports X% transmissions the which in softness in encouraged due the Turning record remained represented of our half region ARFF broader land-based airport oil within decline in challenges to the the
around ARFF vehicles are prevention fire the globe. essential airport and at for safety any
advanced makes Our supplier innovative torque capability power dividing unique of a configurations, offer for applications. and ability systems choice to ARFF
robust. Our particularly ARFF has business remained
vehicle as airports increased these capturing aging are to require updated. standards new fleet demand transmission be tightening global be internationally, are need emission built We fleets vehicles for to and replaced
replacement for parts of units, supporting We to and are we continue expect vehicles, the for segment meeting in which including steering due impact growth ongoing turmoil. transmissions military demand also geopolitical the to
segment end market our increased the Katsa Industrial year-over-year, the stabilization XX.X% general of in demand. Sales by along with addition primarily driven of
for into OEM for demand content resilient. with space. minimum While hydraulic We agricultural products, in order power a efficiently which the hydraulic from higher been the softer remains allowed has vibration commoditized conversion demand takeoff, received some for notable products power an
rise. to our orders for to takeoffs QX, touches Lufkin ahead heavy-duty industrial also facility, power equipment Looking started manufactures which and to
experience construction will fiscal customer leveraging to markets expect we gaining applications through XXXX, unique extensive and by continue engineering and our but to meet needs. agricultural We share soft remain
supported levels. earlier. historical reached has mentioned demand I X-month products, backlog Veth backlog grew as both sequentially Our by for and year-over-year,
of for backlog XX.X%. percentage to and Foreign growth exchange a million sequential $X.X as accounted inventory backlog increased of
compared As the inventory to we lower through disciplined to we move remain year, committed management backlog. to inventories
unlocks well us strategy core focusing are sustainable address positioned solutions we to growth financial strategy shift is higher-margin like With emerging At our and controls our capitalize both technologies. us our of explore which I'd capture center electric margin before the and on the hybrid to drive growth. Jeff towards to continued to and on moves systems and sales emphasis comments, to markets. integration, my our opportunities active This is innovative, the review. takes for applications, through strategic long-term potential conclude as creating in and To on projects fully industry sustainable
costs, operations continued delivering improved modernizing leader by propulsion shipments shortening all enhance reducing Globally, transmission and inventory Simultaneously, streamlining growth. stakeholders. we technology, in to a by underscored as times we Veth's marine, and recognized outcomes for and lead already are are
Now is our our to become mission of across the of supplier Electrical leading solutions and markets. each Hybrid end
over With that, to to it Jeff? turn I'll now the discuss financials. Jeff
