Karen. everyone. X. slide you, We start Good top pleased performance. quarter consolidated strong will our sales I revenue first of million. demonstrating Thank $XXX morning and results on almost We with were line realized operating
conditions our Our usual business Most backlog quarter. our was of continued operations and to quarter government quarter of until stable a about in order support on for mid-March. are throughout as unfavorable levels in The $X had factory affect mandate sales. sales impact began the to due COVID-XX pandemic shutdown us million first relatively the the to Italy, our
reporting $XX.X in strong the for of longer-term impairment faster $X.XX by of was a was resulting reduced Our offset goodwill a our EPS noncash for This in driven adjustment loss impacts charge COVID-XX the GAAP per by million goodwill operational by execution share QX EPS the unit. quarter. uncertainty of and
to we at for relative we of performance our and Despite ability technology compared summarize EPS our consolidation to cost, XXXX. lower productivity X, the I'll operational Please slide gross completed or year realized that, valve standpoint reported business we and EBITDA facility the margin with cartridge prior improvements. of project a continue the strategic adjusted beginning expansion business. evidencing Recall and non-GAAP sales CVT sales, for our to year manage an last margin from solid cash quarter first highlights levels. the However, turn our
first As as XXXX, evidenced we productivity well. from was improvements experienced further our results quarter progressed that we during and continuation initiative XXXX in
facility growth be center to our new for of mostly of operational. will summer. organic should is The with final arrive provide development infrastructure We the and This us completed R&D our CVT feed equipment for XXXX. and excellence testing needed objectives pieces capability by Vision it as the of product of CVT engineering have and the late installed part
historically debt the over past we good have for and focused cash goals been years. increasing made very have and us Importantly, couple flow reducing progress of
Additionally, in net reduced already million times to EBITDA of $XX XXXX, maintaining liquidity expanding by debt the over quarter have net our debt first adjusted we and X.X strong position our ratio. our
ACE XXXX has we to critical hydraulic the to at this and did employees, were MCx development continues March. of of strategy plan. Vision and our introduce trade unable been component our and health Vegas for our this well-being intended to in show delay strategic product CONEXPO early We controllers its be the new important not attend and an software to to We launch. electrohydraulic Las in New want safety to our event. believe Due concerns is product tool therefore
experience host efficiently. applications valves customers. versatility joysticks and virtual of game-changing channel markets. Our together our possibilities and system to no coding themselves for system team conducting has product the of accuracy speed hydraulic ACE controllers for exceptional integrates configurable partners been control data to ACE experts controllers machine and applications highly full-featured significant and products to modules, displays The of engine actuators, The our new of of distribution Paired create variety brings MCX and ACE combined entire end with and intelligently MCx hardware lends control. power and training our control for unlocking a software new introductions is little with robust customers. robust the with a enabled
certainly detail. X in slide light of These on financial to turn in are Let's the outlook we before our perspective times. pandemic performance COVID-XX our unprecedented for more review
weeks yesterday, mandates and shut in in Production our Italian six were engage As in shut production Italy. at about operations our that our are ability our government continued. full limited full down facility to shipping result manufacture of we February faster government-approved where able China in activities beginning pleased After capacity four for facility facility as about customer was to certain was to weeks mid-March. at April, I'm at three that additional to weeks through down only now although, of activities, for a report March in
running operations of to other deemed our while essential under down capacity. were mandates, the significant we and our all All facilities our especially facilities near substantial employees responding in In keep to the limit and Several customers. and needs safe are shut COVID-XX were of spread our healthy, procedures of implemented full of customers' Europe. government
we impacted. not businesses yet at our For that been supply end XXXX update the been When hasn't business withdrew most COVID-XX. At part, impacted significantly our you with chain March, had of our the we of our guidance. significantly most time provided by
for affected and pandemic orders the our sales April. negatively of impact economic the However, has
A of quarter the the impact our shutdowns that of has We anticipate been our but OEM was portion to April second expect due headwinds, global of in largest month customers. postponed backlog order of from do to the other updated not second have been due In extended later from quarter canceled. to orders have cases, April and their shutdowns. we in OEMs smaller a number schedules of many
don't to this have the multiple sufficient of have visibility Given remainder on year. XXXX demand completed we we the heightened levels. planning Accordingly, comment at for uncertainty, varying scenarios
corporate by steps These of freeze; XX% contingent to We in mitigate salary in their a has reduction XX%. reductions for A some temporary officers; effort agreed all Controls; labor; of use layoffs the permanent have Board at reduce downturn. include certain to an hiring the temporary and already following. the Enovation compensation temporarily the reduction effects of and instituted capital deferral cost-containment salary our expenditures;
capital determined protect identified eliminating postponing actions include eliminating have our as that We could liquidity further such take actions expenditures; needed if additional our the non-essential additional and to of hours programs we lower such of to economic workforce; furlough additional be health the and the and/or or temporary duration further reducing reducing business. spending. These overtime; reducing payroll will applying downturn. extent reductions; of discretionary expense; layoffs; working magnitude and additional salary executing The actions by
our Our year's quarter economic detail. management more the to to million million first review the quarter I and results the in or the XX% continue with Sales of excluding X $XX.X actions. turn were will a necessary on will assess $X.X compared and financial now businesses take impact bit slide for a last down to unfavorable monitor to team about XXXX the declined quarter despite quarter basis, and a respectively. attributable in EMEA currency On for million were and $X first last pause regional the impact. of markets same first as by sales of a the was COVID-XX. the XX% Sales COVID-XX decline pandemic. China year's to Americas our APAC the XX% Approximately during changes to
the consolidated quarter. first of and As XX%, in a the and EMEA were Americas regions XX% total sales respectively XX% percent to the APAC
quarter gross operating related They had Sales million reported effects acquisition our the was From a XX% region, Americas in basis decline. an reduction in in year are our In charge market. dollars, the quarter declined for XX% to which the margin including unfavorable year's comparable lower impact Due geographic XXX of COVID-XX. primarily drivers ago, our impact and Non-GAAP million loss the and quarter. well prior to growth The currency, operational resulting $X The on these EBITDA to in adjustments. compared slide segment adjusted out by by The $X.XX. and want as assets of of tables some As includes of end end are offset but for year. the and the operating earnings tables cost our are than this the consolidated offset closure our X%, performance to with Please earnings prior of in softer non-cash and reporting and faster decline a for quarter of uncertainty included efforts to last and X% charge decreased profitability reduction the income Hydraulics The segment reduced cash in the the of profit adjusted gross XX.X% I saw a a $X.X other periods, and our sales. were cash costs, which arrive impact. XX% review in that share revenue shown associated corporate of at sales turn tax demand relating with excluding quarter, non-recurring remained a not decline both quarter. reconciliation lower as segment other declined from in XX% intangible per market distorted at in goodwill unit, COVID-XX management the of I a the first by the $X productivity primary non-GAAP release. excluding COVID-XX. margin due goodwill the in expanded were with foreign for margin a first the this quarter, year-over-year XX% in grew slides. the regions the the $X.XX in APAC last Americas These items per year's only in Consistent the and the the few in solid back the Italy we moments for more Hydraulics decline Despite for government-mandated and of deck release points. earnings our goodwill Again, accumulated numbers. as unfavorable slide and EMEA the markets with approximately COVID-XX to mandates in sales. impairment in lower sales back EMEA pandemic GAAP for facility quarter versus gross impairment in environment. point the Hydraulics to of down $X.XX consolidated amortization amortization revenue segment an the regulatory segment in looks $X.XX relatively results. XX.X% currency, mentioned currency operating It consist perspective, the in improved years due adjustment million X to the a impairment X% business the charge share in XX% was on EBITDA our quarter, EPS volume
and a management slide drove expansion expenses, operating the which reduction basis XX.X% in review increase of cost first the with our in margin Electronics in point $XXX,XXX gross XX a segment margin X quarter. However, demand as softer for turn to Please FDA together efforts resulted the to in compared a XX% that markets quarter year. well first results. of the renegotiated operation down recreational and with year. was as last of gas end last we oil decrease the due to Revenue The in was impact continued customer quarter contracts the
Foreign had minimal currency on pandemic electronic COVID-XX quarter. this impact a and sales
we the cost points and operating the reflecting of management release First improved of XX.X% continued XXXX in up flow generated the operating over sales basis capitalization. first with first the and a XXX efforts first of XX.X% flow due activities quarter million cash free to lower free obligations, of XXXX. of cash quarter flow benefit of compared contractual non-recurring gross turn XXXX. million $XX from to review net of margin Please of from quarter over slide a margin from XX.X% $XX cash the in revenue quarter to of was quarter first X cash In our $XX for million and XXXX, the in of
the Our CapEx due quarter uncertainty period in a of $X.X flows, end have economic million current pandemic, reprioritized conditions evaluated are being of million, in in to reduction projects same conscious cash light and several was demand the expenditure XXXX down the capital for COVID-XX of been from due and deferred. $X.X reduced the future to and market
with priority projects. high proceeding critical only currently and are We
year-end EBITDA by of the remained in gross our capitalization the net first quarter, million times XXXX. At quarter, consistent net our reduced at with $XX the debt first our Regarding $X adjusted and debt end debt we by X.X to over million.
have end on credit million we revolving facility. the to ample the of had over At our $XXX quarter, continue We liquidity. available
also requirements. pro accordion which million certain forma is to a $XXX subject We have compliance
slide impact also compliance and we Our indicate that we the for credit sufficient that to flows we least consider the our positive we maintain remain next the flow XX for under our operating year scenarios. lines for liquidity cover Please analyses at under before cash These covenants Q&A. scenario have conclusion with all open the and for analyses cash on cash needs facility our months. the XX to believe turn
strategy. to faced adjustments some While Vision investments XXXX near-term we uncertainty committed with remain which the our require are timing our of may we to of significant
global while Our achieve sales in goal strength. technology financial to $X the sector exceeding billion maintaining by superior leadership industrial profitability in and goods is
economic have organic long-term Presidents our and this We confidence operating to businesses abilities in the drive of unit growth. downturn through lead their
Helios fortunate that liquidity. to believe base ample Leveraging are we We dedicated this as brands emerge well-respected stronger employee will an solid have organization. foundation and a we global even
let's lines the open Q&A. Now, for
