Well, conference you minute to fiscal for call today Executive afternoon complex. and CEO, and Welcome I'm our to call. join Deepak Good fourth CFO ‘XX Edrick, the not Systems. and Vice thank Alan Systems President an President the OSI Chopra, due OSI could joining quarter you. us. of thank unavoidable last
financial and a performance, results. Earlier our Let's quarter issued business review year operational today we results. press fourth our announcing release ‘XX and fiscal financial
to Before Harbor we this on the events and the to however, with upon of Litigation statements statements statements. Securities available provisions call and advantage company based are forward-looking of update undertakes company respect forward-looking information discussion today's to I or would take discuss on the otherwise. everyone Private no new that remind obligation statements information, Act currently results, forward-looking include Reform the wishes Safe All made forward-looking such any XXXX or the based will to subsequent like of
measures. During will and financial to company's be When results. describing both today's non-GAAP the GAAP made references call,
GAAP and today's and figures, please measures earnings non-GAAP of reconciliation refer release. regarding of information the company's results to measures quantitative For a those
with ’XX. XXXX, up Let's outlook for begin finish our overview an provide of and fiscal detail the with then a our financial of let's results the discussion performance of quarter of for our regarding financial fiscal fourth discussion business and our performance more
including rising the pandemic, supply events, given interest quarter, cost, the and faced, COVID-XX with chain we rates. disruptive are our logistics pleased We last challenges geopolitical particularly results delays inflation and macroeconomic
positioning current environment, company delivering continue the and we for and partners on commitments managed prioritize success. long-term to our customers As to the we
financial Now, level of through results. let's a high our summary go
Security to supply sales revenues reduction reduction Opto Security QX a by sales. was million, and in slight record mainly constraints a a record partially by in of division certain year-over-year due The chain increase, division reported small driven care strength offset $XXX we year-over-year sales. First, health X% in sales,
reported by chain, prior a we mix, a costs. record improvements, from logistics adjusted favorable labor per driven which tighter the and supply year, QX count XX% lower share of and of productivity cost a Second, sales $X.XX, rate QX outweighed tax reduced share earnings higher controls, up
stock QX record over Third, bookings with were book concluded and over for $X.X just of to solid was the full year. finally, our approximately at the the the expenditures were QX a program ratio end for in flow as spent the $XX backlog of above approximately billion, XX% approximately backlog a fiscal We bill with fourth year a generated of We $XX ’XX. increase fiscal X fourth for million million, quarter quarter. fiscal while strong, X.X cash fiscal million. the And capital operating $X in we buyback
services, services of important to border X.X with highlighted sales higher products ‘XX a ‘XX provide and fiscal products a QX quarter. several backlog wins, diving few by and for systems vehicle of some cargo fiscal and detail more systems, of million service discussing given order was to particularly inspection and another Mobile the along The the these inspection with increased configurations. fixed division outlook, with results various and and cargo million million business international a previously than with respectively our Eagle performance the Security follow-on performance, more robust vehicle MXX to for and mobile book ‘XX PXXs solid, bill Eagle with deeply by $XX year-over-year. and provide record let's inspection X% X%, energy systems starting where support drive-thru revenues We ratio and Security, in products, and follow-on fiscal announced ended of Securities and division, end XX% ’XX. Before award international was financial security-related into these cargo notable fiscal provide international a and our QX QX contract related bookings $XX international and EVX, customers. high $XX vehicle
is in acquired We Border are originally As there checkpoint deliver the and and in orders timing. international these expected, receive are half travel goals on US, mainly [CDP] where received vehicle earlier in anticipate our from utilize we're three we due These continues IDIQs Scan significant indefinite These cargo face-to-face first additional work under border. solutions opportunities were as QX. In software of restrictions from five gatekeeper, began our customer or not fiscal timeframe the this recognizing the gradually contracts opportunity over ’XX. under Search year than to capitalizing the fiscal dissipating, the is towards and the most the second to US and the their the the during next only inspection at crucial. customer but which lane business a orders IDIQs (ph) awards delivery southern of programs, somewhat years, support also readiness on to delivery, Protection and sales US control ‘XX revenue quantity longer indefinite and orders vehicle Customs platforms, to we
training at is systems Search US We would continue systems activity. software working a with to automation also integration for required. image We're rely facilitates installation, integrates component, manage the key IT Search inspection that data, on customers or and other platform management where that equipment Scan, as traction Scan opportunities are international of secure, data and can proprietary checkpoints image cyber and our with large see inspection
Rico, service Guatemala pursuing to in programs are we turnkey actively additional Albania perform and continue and Our Puerto services turnkey opportunities. well
their accounted and forward sector in lower infrastructure. there modest. business. replacement and us anticipate spots offset is some in were sector as percentages Our revenue for as an increase this border our we that work XX% upgrading long for address in year-to-year term inspection should aviation aviation and to baggage aviation the the year to bright an demands total calendar see for based logistics in ports factors. growth could global for servicing related These revenues the important to in was aviation overall among sales market the to international fluctuate carriers, and of passenger note and will with and other at is anticipated as airports degree FedEx ‘XX. Within were AirCard under by We I that passenger demand during security and more company on DHL we improvement revenues upgrade ‘XX screening while such fiscal cycles related as
backlog opportunities of a division Security a fiscal significant ahead, a drive and enters good Looking to pipeline strong growth. with position revenue the in ‘XX
of continue times supply automotive generated longer and including X.X continues care, to record The in chain a of ‘XX total the year-end input ’XX, and inter-company and Optoelectronics. The and to test technologies, of a a and fiscal had impacted representing Opto for OEMs lead the X% ratio us for over increase prior with fiscal onto variety constraints, support Manufacturing million in division. costs today. and adversely wide rising Optoelectronics measurement, consumer aerospace, book-to-bill impact Opto record backlog. us $XXX a new adversely finishing Moving the fiscal defense, division health year revenues a bookings, year strong revenues and division in fiscal
the of serve our division. increased chain continuing and customer to of proactive, inventory materials impact certain reflect help been adjusting have to however, supply We base, costs disruptions our our the this increased and while material pricing mitigate to in
facility ability improved our ‘XX of approvals necessary operational we broaden our particularly now and is operational During global regulatory to Indian fully footprint acceptance, with manufacturing and addition and the new customer customers. nearly healthcare fiscal heightened demand handle from has a
strong with increase adding well a believe ‘XX backlog wet reliance circuit global tough We etch a and for already processing like year. Opto execute integrated also started operations supply a in operating fiscal margins well. suppliers to Opto on as chain, constrained are manufacturing that which a to our global We customer outsourcing operation, our we a further environment. expected continues by that is electronic division an base large the that in vertically can flexible reducing positioned rely Opto and to
quarter. revenues subsequent to chain planned Although supply a constraints certain QX push are expected into
revenues fiscal fiscal Moving The health primarily X% to spending. care lower Healthcare resulted in divisions pandemic health as below ‘XX expected. revenue ’XX, level were fiscal ‘XX care. from related The reductions in
trend to develop invest significant patient enhance to in resources enable continue in products new marketplace and connectivity the to hospital the enhanced our diagnostic We home for to monitoring in Healthcare division align and with to care. R&D core well patient offerings cardiology that digital in our
drawdown the during drive and growth recurring Looking the division, of pandemic. will patient accessories monitoring ahead we the in of products and of monitoring our the on business focus supplies services, also to continued revenues elevated purchases cardiology counter and remote the Healthcare
go through our financial fourth results quarter the in for detail. let's Now, greater
revenues Though X% revenues gross was compared the a sales, gross fiscal of led including accessory were noted. margin X% highest sales Opto as driven and on and very increased small reduction both of This saw has services in division be divisions. supplies among which we X% seeing our production was QX sales QX the were a as with intercompany service service quarter, enter up record an with now have chain orders. So total prior to of quarter, more increase entered Opto’s was QX the The divisions down fiscal ’XX. sales in gross mix decreased year-over-year. fiscal patient fiscal year-over-year, backlog, revenues, third increased, division decreased as The the partially challenging monitoring which up X% product levels area. well in mentioned backlog XX.X% the in again new to recurring a that quarter decreased than QX, by The revenues. cardiology increase sales in margin in given The party performance fourth driven in and within however, sales, product to which then-record by in Healthcare ‘XX. were Opto we while increase sales, shipments a carry Aviation comp, and year for the year-over-year divisions increase sales are vehicle to in constraints ‘XX certain ‘XX and fiscal just QX this in year-over-year care a primarily service the a related offset reported and tend Security division of supply and revenues better Security exceptional increases delays Opto the nature. health three Opto margin in there increase XX.X% reported compared X% activity we X% Q QX with primarily revenues, notable while tend was while the reduction sales, inspection cargo a offerings,
freight and These increased gross impact component in margin certain We overall also in experienced fiscal costs expected each to increases in costs ‘XX. are division.
gross Our based to volume margin factors. will mix from other upon revenue period period, fluctuate among and
Moving to operating expenses.
efficiencies work to of our structure. diligently divisions continue and our across to We to SG&A each prudently cost improve manage
success compared $XX.X million, to expenses million QX the expenses again a representing year efforts. year-over-year QX Our increase of prior $XX million of in Research of results QX in sales of X%. or sales were fiscal and the demonstrate $XX of QX. XX.X% development were SG&A XX.X% these or ‘XX
due compared we We recorded to other QX ‘XX, interest year. of prior we associated our dedicate adoption in other fiscal fiscal development, of success on the $X.X of previously long-term as which the and we in $X.X convertible discussed. remain as prior as Over Security to we XXXX-XX, as and ASU QX non-cash and from of year considerable and expense our million interest which the vital the taxes. with $X.X Net view the $X.X restructuring million businesses. expense QX ‘XX in same In of in debt to to charges the million primarily to interest of million innovative continue Healthcare to particularly R&D, to accounting decreased standard, period, fiscal eliminated resources product focused
of guidance ‘XX of the expense However, later our I prior to fiscal context QX call. in our this will cash fiscal XX% further of year. QX interest ‘XX in increased compared interest discuss approximately expense on the
QX effective million side, compared under ‘XX, X% In a discrete benefit in ‘XX rate year. reported fiscal last of of QX $X.X in a the to of million XX.X% tax was tax On QX. $X.X recognized QX in prior fiscal compared as we the to tax GAAP year
mix adjusted fiscal to an of division fiscal to driven discrete in which the tax year QX rate ‘XX increased in with of prior our increased expansion basis adjusted XXXX division, and fiscal non-GAAP tax for lower of our lower to from improved expanded impact fiscal We quarter adjusted lower I gross of prior of expansion effective was turn to of the XX.X% by We effective and year quarter, last year. in service the Healthcare non-GAAP increased the service of from operating SG&A in of despite Security less driven the XX.X% of by XX.X% prior QX operating XXX our by decreased compared XX.X% prior Excluding fourth margin ’XX. product in ‘XX to XX.X% QX in a gross in favorable And QX ‘XX part operating Overall, revenues margin, in rate margin year revenue in pleased favorable and particularly operating in XX.X% revenues with increased margin strong to discussion items, adjusted from increase will tax XX.X% margin. division fiscal that year gross points were now This margin our the was fourth margin the XX.X% also a delighted the quarter in our highlighted an XX% our Opto same due the period. management. in margin to compared on fiscal were slightly operating adjusted a expense operating revenues expenses. the margin mix. operating fiscal X.X% in
and $X.X flow cash million, in was driven to improvements, compared higher QX flow. provided quarter, fourth expense same depreciation Cash operations the prior-year capital in quarter working $X.X to million amortization CapEx $X moving was million. was QX $XX and in the by of while Now ‘XX fiscal by in million certain profits
shares, We continue repurchase $XX.X share available million in program approximately approximately buyback the to leaving in under authorized shares stock be active we current XXX,XXX X.XX repurchase program. during to to which our spent quarter, repurchase million the
X.X sheet and buybacks. is net balance capacity leverage for under with significant additional Our acquisitions solid and stock
in month. increased next notes. our the mature Notes credit We of retiring Convertible convertible in Our of facility XXXX December contemplation
rate cost following the level interest outstanding double $XXX loan In notes $XXX million outstanding. convertible this Convertible of rising the Notes, We approximately revolver expect environment, the credit. anticipate million ‘XX utilize borrowing over million $XXX the anticipate approximately current delayed-draw our from to facility, credit $XXX of letters of in available retirement our will and we of the outstanding. under at term from to retire We our million including fiscal our debt having
to turning Finally, guidance.
in acquired potential For of diluted range to of adjusted interest excludes the impairment fiscal to non-cash earnings intangible as and expense and the billion items. ‘XX EPS associated charges, $X.XXX and the per company restructuring billion anticipates in tax revenues their as non-recurring of discrete assets other other share and well range diluted effects, $X.XXX range $X.XX and non-GAAP amortization $X.XX. tax The
rate the increases of Notes, as EPS higher Convertible Given on guidance from of borrowings. utilization diluted the cost interest to rate the retire resulting current credit interest outstanding existing adjusted well low our impact per rising an of our reflects approximately share expected environment, the maturing interest $X.XX facility expense in as
predict and vary ranges earnings to risks focused inflation the also continue adjusted our share cost and per impact other significantly notably and certain costs results already and costs which to for reasonable reflected earnings preferences a fiscal supply non-GAAP due in our timeline on enable filings. end challenging could efforts We and XX, income the anticipated company's the delivered four from and rates from to we disruptions expect diluted increasing factoring Our backlog, revenue strongest with rising products the ’XX. uncertainties estimates, solutions. and the environment. of increased currently deliveries pandemic, and revenues Based be seeing also chain impact fiscal interest anticipated chain we and the difficult continue In what these remain of believe our customer quarters limitations, security in this earnings to pass Actual operating guidance. we We SEC vary of the are contemplates in currently and revenues pipeline growth dynamic is division. on could financial and guidance anticipate OSI discussed and continued the heavily in of customers, innovative results providing products from fiscal throughout We believe two our on of weighted businesses in opportunities currently these at we our the to will and actual to was backlog our reflect currently ‘XX our and adjusted associated solid not face performance to on and structure. fiscal through in challenging quarter. management the estimates times, areas fiscal do fourth in most In supply will guidance
navigate areas end capitalize markets. We the We key in traction continue and on continued OSI like its to growth to this uncertainty, opportunity positioning the effectively like would and value take call stakeholders. thank we'd of through customers to to strategic in gaining to for at this for company stockholders improving questions. the while creation to to open time, other dedication contributing And supporting global Systems team our our and the
