you, Thank Nick.
the the where restatements I for previously fourth along review we want on QX deferring as costs. are XXXX the the now a of quarter quarter I and whole, third recognized results what $X.X revenue with million to touch Before associated caused
we ultimately While audit accounted we during the in for year-end us reaching our resulted process consultation QX correctly different this subsequent earlier in had report, felt a conclusion.
To help details. understanding you give some me additional everyone's let
with we in our As carefully many and for suppliers chosen use that most material we materials and manufacturing products. build companies, components of have for the qualified
often we us last as buy year, systems. a to customer their opportunity. the suppliers use within time of or had some components we referred notification is to that few discontinue handful of During or plans key a materials a notify This
customers our they our systems notified the utilize buy We these to in wanted event more to of components.
additional changes obsoleting systems our customers. We full ensure these the detailed this systems not of the future to would without and ready did to commit be number of components time, more for in purchase paid placing they ownership able material. orders due the were in to While them amount the of within asked small transferring to on their exclusively to risk to need with certain purchases the at and order changes for design us legal these for a behalf, necessarily build a to for full
future And ultimate at we more components two, consideration, time that these should actually production guaranteed this use orders requested additional and the cases, fact terms will customer we the last was that most and and that certainty for our remain to buy physical the of materials materials additional are and not sale all from and time until it determined is these deferred [indiscernible] components. ever revenue appropriately facilities. these be in have there orders the get to will customers; subject the unknown for prepurchase this as of be that, despite However, at from future is one,
will third shipped they associated As are impact or using had from income on cash by and to The has purchasing that, revenue our restatement third let's mentioned, EPS balance with diluted when and fully as customers. as $X.X $XXX,XXX. the fulfilled these materials The by now released the this already end being quarter costs a and turn fourth well physically transactions third of to customers. $X.XX. quarter quarter net this at when are related of affected, orders in the deferral full were And to tax quarter our as by the reduced the $X.XX our third the our be costs. the our future impact balance if was quarter and are reported After million approximately revenue deferred the sheet review. to reduced previously no and a for of basis, On XXX% paid components the year
million $X.X of X% $X.X in X% increases or X. XX% Revenue and revenue sciences, record for by $XXX.X market, respectively. a driven million year's the Slide was over in defense/aerospace full increase record. on year security million the a million and This life in industrial prior $X.X up Starting $X.X growth increase the and a was million,
As the diversification offset in quarter In a and the which markets. semi. on to was increases revenue down primarily more partially and ] touched $X.X $X.X Nick than was auto/EV million on, in sequential semi the of $X.X Fourth the [ the both million due market, softness revenue just decline is in by million basis. cases, offset year-over-year industrial this
ongoing impact basis X. Slide of to expanded reflecting volume, $XX XX.X%, million. year mix increased points actions. and Gross for X% pricing and to cost XX the Gross Moving the margin favorable higher profit to
For $X $XX.X quarter, year compared mix of lower Margin profit and the million, to was was with product $X.X million million a sequentially. ago volume. gross related fourth down contraction and
were see corporate million by can on As expenses. over up of XXXX, you X, million our primarily XXXX expenses operating development $X.X for Slide driven higher $X.X
of basis sales, XXX to points XX.X%. percent a As increased OpEx
expenses. For modest $XXX,XXX corporate increase the higher development included approximately quarter, year-over-year fourth the
Turning to Slide X.
line our results. You can see bottom adjusted and EBITDA
share. X.X% were quarter, earnings share. or million diluted $X.XX net representing earnings margin. EBITDA per diluted EBITDA per QX $X.X $X.X million, were Adjusted adjusted the $X.XX was net Adjusted or an million $X.X For for
$X.XX income million were to adjusted a earnings year, diluted balances, year. compared million. $X.XX net diluted XXXX margin. from with Adjusted for other EBITDA X% the million, $X.X were benefited $X.XX a XX.X% representing which full share cash the For EBITDA prior in earnings on resulted Adjusted share in On per of $X.X was up XXXX interest $X.XX earnings basis, net per XXXX. for with in of compared higher $XX.X
achieved million quarter for down We million quarter structure each in X million, and expenditures strong unchanged flow. the $X.X for the prior million in cash operating in shows totaling full year, $XX.X and capital year. the the the in $X.X $X.X fourth fourth quarter, of XXXX. year $X.X our generation year, the from were cash including Capital Slide million from
in cash of equivalents at million including requirements, Total including $XX.X raised $X.X during cash and million. free down $XX.X year-end our paid We the in for quarter. million end capital Given the million million second was modest the fourth was the year, debt debt quarter. were in Cash offering equity through flow at million. $XX.X expenditure XXXX ATM our XXXX $X the $XX
liquidity, million ended on revolver. which growth in borrowing $XX with $XX capacity the We another term included and loan $XX $XX.X million cash million facility XXXX and in with delayed our of our million
Our leverage end of about X.Xx. ratio was at XXXX the
talking for of the previously should used of that we I we While first million about note about announced the acquisition quarter XXXX, cash are $XX Alfamation. XXXX, in of
Turning to XX. Slide
fourth Our the and $XX.X versus XX% prior up million were of orders year-over-year quarter X% down quarter.
primarily in sequentially, and sequentially defense/aerospace orders Sequentially, more front-end the Semi industrial and semi. but than we epitaxy in and doubled. stabilization. year-over-year show quarter, front-end markets demand defense/aerospace as year-over-year, resilient orders while to further XX%, increased well declined fourth industrial strong as applications. For Back-end orders began from orders supporting were experienced
were orders Approximately down X% ship expected the semi of year-end compared down beyond Backlog than at million. $XX.X the Combined sequentially is and prior backlog to prior to of with first X% XXXX. quarter the improved by quarter. was XX% million, year, year-over-year the XX% lower $XX.X XX%
with XXXX. weeks review approximately Alfamation, has revenue of from we gross are for This good first of be parts quarter $XX the as about of XX expecting had operations year, a come the just XX%. moving Slide to margin to over acquired number Turn outlook to to million of XX% as X end we we including our
fees are process. expenses, approximately asset $X.X be the million. professional including well with and given to be amortization, from to the somewhat is after is as the amortization both tax expenses expected $XX as quarter of restatement million. acquisition expected This higher elevated corporate Intangible Alfamation operating development First approximately level
our to and expect rate tax be between XX% effective XX%. We
be to EPS EPS while expecting diluted first are approximately per should We for quarter be share, the $X.XX diluted about per share. $X.XX adjusted
adjust As expense. a tax-effected reminder, we simply for amortization
$XXX operating we which our XXXX outlook For to range to March XX% addition full million margin revenue acquired expected for is XX, with from approximately XX% on to the be expense of to expected $XX $XXX year expect Gross XX% with higher Alfamation, This XXXX we of million. asset jurisdictional be and Expected given expected includes XX%. is roughly million. approximately million. expenses of intangible the $XX tax-adjusted is acquisition $X.X to the tax to to of rate million effective amortization impact about
capital in sales. X% For between to expect expenditures, run X% XXXX, to we of
As from from such guidance include corporate to may not include usual, impact time it occur the as time make. our impact does may any that expenses nonoperating acquisitions or from any additional potential we development the potential does
will you turn over now With will I that, turn back the Slide to if call Nick. to XX,
