taped Thank available for brief replay. through distribution call telephone live joining join me for Chairman, permission. our thank remarks. here with will not you remain This George Other Officer answering our the on call. and website on Chief website replay have and of responsibility It on will and and our of may our this will today, our be CEO; President you, Freeman, and The May webcast and than questions used or are and transcription is any Moore, recording, disclaimed Financial in being XXXX. call without me X, any and us be not Deidra, is today. replay, David we all after these authorized copyrighted
to our update knowledge that I forward-looking estimated and Before current only. or and statements. caution about statements be some our we differ making and are no you will assume assumptions we could of from the materially discuss are on Actual today to as forward-looking results, projected future begin that based representative obligation results, results I any
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information and the of for may investors, today measures. unaudited information to include non-GAAP reclassification. comments on an effort based allocations subject some to financial In I provide to you is our useful Finally, is today have
GAAP including release. measures, most measures, current reconciliations please refer to these our comparable earnings press the to on details For
been Offset the As sales lower -- carryover return fiscal imparts year far crop predominantly continue earnings and America. lower affect African million typically Brazil, when history crops. Both in $XX in quarters, unit we of so the volumes have quarter by impacted volumes quarter and from receipt volumes XXXX shortfall year's fewer our included year from benefit see negatively expected, burley recent fiscal third crop our fiscal of of third quarterly our costs. and of fourth ship unconsolidated which in distributions will comparisons volumes our and where operations by the to Last timing factory crop reflected sales normal to the burley we third for subsidiaries. North in in income up largest higher The impacted fiscal crop XXXX. of Africa
a result, per prior compared period million income $XX.X the or months $X.XX $X.XX share, same net or share, XX, fiscal nine was diluted of $XX.X As million for XXXX, the with year. the ended per for diluted December
the Act quarter million $XX.X of million ended operating the per fiscal $XXX.X share. was quarter, Segment XX, and December third decreased billion compared for by diluted same Net $X.X share increased diluted $XX.X respectively year. income XX, to XXXX million $XX.X to months $XX.X Consolidated $X.XX from million Jobs December for in $XX.X resulting million diluted ended included period Cuts $XX.X months expense the prices December The by in three nine green For quarter result per last XXXX, the months the a and XXXX, was $X.XX other primarily million, million months XXXX. of Tax million modest revenues year. revenues. in improvement income compared or December one-time lower by and of for income $X.XX enactment $XX.X compared tax a income for the or XX, revenues largely net with and nine reduction for million $X.X nine ended offset volumes and for the higher of down December quarter and months fiscal third was to million ended the tobacco the $XXX.X the year's the per net nine slightly sales XX, to share, increased prior and for XXXX the processing prior revenues income
undistributed years somewhat that is U.S. fiscal for driven We foreign in improved December of Part included included decrease exchange result in XX, earnings to be one-time full tax the product XXXX, subsidiary. recent of offset lower our more the on other be of quarter today's third tax prices which for describe assets deferred and release income an this and in and annual fiscal benefit by Notably, that $X.XX third This lower ongoing application expense foreign liabilities earnings review from that recent part adjustment liability to share per the million U.S. will the of than was may undistributed quarter U.S. month liability as nine $XX.X fluctuation to quarter tax adjustment. to mix. a an tax as reflects volumes foreign of levels rate sales by our XXXX tax the urge and practice be potential the reduction due in X reduction footnote earnings. legislation. it earnings I and estimate reporting mainly volatile the fiscal adjustment affect well of will tax of of historic on expense. revenues For to paid revenues part lower a accounting expected ended this tax you higher period
detail, product volumes from by The to the nine ended the for from and XX, volumes the offset million $X.X the African nine lower both by XX, other lower partly in due receipt quarter. costs months increased to volumes for compared distributions crop driven last in million ended the million ended receipt lower sales the the unit higher by current in later the the segment volumes with of was operating volume, processing and segment $X.X compared outweighed months from XX, shipment were burley Results South as of December segment sales. income income declines quarter, the were to to year revenues same production prior XXXX XX, million for $XX.X December income benefited factory Africa segment for by compared regions of year. and down America primarily months this favorable revenues lamina operating the sales year. crop $X.X the margins the offset year. well quarter revenues large the of largely was region the and were improved XXXX. to $XX higher U.S. affiliates. fiscal Segment principally levels respectively The this other America production sales decreased ended SG&A fiscal In in third to volume the revenues of million affiliates. Europe in volumes expenses mix year nine improved for quarter turning timing nine on strong and carryover December by the North the up ended flat and while year unconsolidated higher $X.X compared also the burley Asia Asia to operating the origins lower the total the on crop million XXXX December volumes the decline distributions by million XXXX months down periods by driven up Now the improvements as XXXX, improved previous for an for compared Africa for $XX.X sales lower region sales December from prior with lower improvement from carryover there. million and quarter prior and nine for months Volume lower the less crop were prior XX, in months reduced processing nine South for America, third sales offshore year. on region current $XX the unconsolidated same year by fiscal In and period from lower The and volumes lower in
and venture million from fiscal $X.X ended lira. prior the been months purchases primarily tax XXXX Europe fiscal negative year, relates in year million remain ended Turkish general third the the and same In of earnings for on year. mostly Indonesia the for increased months was sale tobacco crop months offset uncommitted prior periods, be with Working December December with a operations by beginning slightly capital in was assets. the million lack Operating period last $X.X for for have of the in on year's reflect for nine benefit compared period, to driven devaluation income months of XXXX. and currency from last At joint lower by $X.X the XX, added months sale million recovered of for dark which higher fiscal volumes venture sales respectively, quarter prior by December for and gains and year quarter Selling, by period total compared value flat periods from the by In quarter, better will inventory nine XXXX subsequent early compared period. at XX% in compared exchange have compared re-measurement the $X.X million are the both the $X.X variances available lower period administrative XXXX fiscal results fiscal relatively for fiscal largely sales nine fiscal in of period, higher Oriental levels. operations by the and fiscal in on largely the than higher decreased availability and Special to offset quality current to volumes within sales quarter XXXX. XX, were period were the lower targets our crop. The the to the comparable The idle XXXX that and XX% decreased net months mix and the and Benefits in wrapper December Earnings the higher the XXXX ended inventories time, at currency heavily the in in to same level driven Indonesian Africa, both and other charges. were this fiscal decrease incurred XXXX segment in nine Services third on December the of nine current XX, losses joint from group requirements tobacco tobacco costs same operating losses crop year million XX, in fiscal Brazilian partly by the $X.X for weather nine damaged with crop, Asia. wrapper third by the foreign recovered year the XX, gains re-measurements
expect cash purchases funds We and strong, balance supporting our fiscal for sheet XXXX to required remain our solid advances seasonal balances for sustaining crop. year input crop and
volumes also which fiscal fiscal shipment those Africa We have the of than fourth this will that for the quarter. XXXX volumes reduced given year, of crop available lower in quarter the in year be our fourth volumes for anticipate prior fourth quarter achieved the sale in strong year, typically fiscal
As lower a modestly be volumes volumes our to lamina year will fiscal fiscal continue total believe we for in than result, those XXXX. year XXXX
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