results Starting quarter $XXX for quarter you, our the the Thank the first XXXX. on revenue first cover second with will million. provide to our and of John. I details quarter outlook of
the company well store period for incident. following as team we global our a mentioned, John challenging work through operations during the ransomware executed As
we We estimate $XXX restore our impact the our $XXX team at to impact initial negative approximately quarter, fourth worked report the million to for to relative results. revenue least million our was when diligently quarter and of production expectations
our to While seen levels recovery electronics outlook, a packaging in has well, gone of relative and prior we've business mainly softening market.
and lower our result, the revenue excluding expectations. of a estimate ransomware quarter incident, As first have would original impact been than we
softness in indicates, the expect we levels quarter. in our second business continue outlook overall As will
However, second we improvement see the year. slight in of a half the
first end markets to the Turning for our quarter.
ransomware lesser and the therefore, impacted divisions. a our incident to to only an market. extent, electronics semiconductor industrial mostly As packaging specialty Solutions we a markets And our and in Photonics Vacuum impact felt and reminder,
in quarter, the for XX% tied of With specialty lower semiconductor as transactional recover this remaining primarily XX% our as ransomware $XXX We and impact due approximately as largely million first declining market. to was capital industrial year-over-year incident a industry semiconductor expect of to the X% well a catalog XX% demand revenue to negative business sequentially equipment. in revenue, backdrop,
in We estimate $XXX first the quarter. ransomware million incident the approximately impacted our revenue semiconductor by
Excluding of year-over-year. was XX% incident, semiconductor impact revenue estimate the ransomware sequentially the XX% we down and approximately
balance expect We delayed all the make the of third in revenue that up second to made and up in quarter. quarter remaining the approximately virtually XX%
possible. While have quickly and work customers deep the with as restore quarter we relationships was to with shipments closely our as them first challenging,
results. and sequentially Turning and decrease with packaging QX XXXX, Revenue a XX% electronics combined million, was representing company to $XXX XX% year-over-year, market. of
palladium and exchange foreign of impact the Excluding pass-through.
revenue ransomware year-over-year to nominally We company the has incident First revenue. combined compared results. packaging quarter XX% on our a impacted declined only estimate electronics and basis
to the this substantially be expect in We second recovered quarter.
As mentioned, electronics chemistry our the negatively in sales and platelet were global impacted demand. equipment slowdown by industry John
chemistry applications. volumes reflecting of PC, pass-through, the unit widely excluding exchange in palladium declined Our across publicized revenue server year-over-year, the and and XX% foreign impact production slowdown smartphone
year-over-year. in to the sequentially first and quarter, To quarter. expect declined New shipments improve revenue electronics working add in due PC shipments more in first to days XX% Smartphone some holiday context, the the going second overall Because quarter. Chinese second declined XX% year-over-year to Gartner, Year the the in the factory we quarter packaging
in grow to second compared half the to revenue levels. expect half we addition, In first
$XX mostly ransomware million our sequentially second to XXXX, estimate specialty the $XX of recover specialty remainder quarter, company the year-over-year, million to first XX% Revenue quarter results. with the in was industrial half in the and representing Moving second of combined $XXX which we XX% industrial first declining the market. and QX the quarter approximately We by million impact incident revenue approximately year. in the expect in
and recover combined year-over-year basis. turn generate book not quarter that do of transactional X% the amount of due approximately nominal of and part we revenue foreign business on business. our catalog orders through this We palladium impact incident a a to and nature revenue expect to pass-through, the Excluding in of the ransomware declined our exchange first company
end and across total three our consumables of revenue. quarter, first the In XX% revenue our comprised markets service
of to the decline first margin margins. ransomware due of incident. sequential with of We associated underutilization primarily points, XX.X%. gross the Turning factory our The our to basis reported XXX quarter
associated the with lower $X levels compensation reduced were quarter First decline quarter the control. revenue due operating prudent as in cost $XXX million, to as first a expenses well of variable sequential million
factory XX.X%, negatively impacted operating lower ransomware volumes margin margin XX.X%. was EBITDA quarter both as the First revenue as Adjusted was with well underutilization associated by incident.
lower Our achieve cost first $XX of due synergies Atotech exited than million. progressing synergy million XX track our target interest the in the and close. well favorable post anticipated interest slightly achieving to XX income. Net we remain is of annualized was within We of months $XX $XX quarter to on integration first million, quarter expense to
million for the Net Our tax quarter quarter of mix the the earnings a earnings $X.XX diluted geographic a of was first first were for $XX rate or by benefit XX% quarter. driven per share. in
Turning cash and Despite with flow. we our the facility quarter maintaining and credit short-term a investments $XXX million exited we the balance with liquidity million. revolving to faced, sheet $XXX of usual strong cash challenges of
We with of gross billion. exited $X.X debt the quarter
a leverage on company XX-month EBITDA. calculated net the exiting on Our adjusted trailing based was ratio basis first X.Xx which is quarter, combined
negatively For cash incident. flow and million, flow but ransomware $XX quarter, by million, operating the impacted was the first free was $XX cash
we quarters, or $XX $X.XX with of payments per prior Consistent share. million had dividend
second turn I'll our quarter outlook. to now
million. second $XX quarter of million, We plus revenue expect minus $XXX or
market, not do pieces more business provide ransomware end believe different and little underlying be given revenue normally we granularity helpful. levels, as specific of such a the guidance by recovery we While moving would
approximately plus the million; quarter, million, $XX from plus revenue $XX minus or the that, million. industrial With or $XX market and minus in million, to or revenue semiconductor expect be million, million; packaging to approximately second be market $XXX $XXX market specialty minus approximately from to be electronics plus we $XXX
Excluding the from of the quarter quarter. for ransomware second a second decline impact we the first quarters, approximately represents of revenue first sequential incident $XXX estimate and which million,
quarter most and equipment spending, specialty be a product electronics percentage market, minus of a packaging declines to offset in and XX%, softer of in margin plus by wafer or we point. levels, and primarily We second markets. of revenue mix revenue improvements Based partially this fab reflecting from revenue industrial result on estimate gross X expect anticipated semiconductor
increases, plus quarter $X of due of variable first the We volumes, expect million. merit sequential or following of ransomware expenses million, spending increase to The and minus revenue a normalization from level product higher timing is $XXX incident. compensation annual operating
For EBITDA the we second million, adjusted of minus $XXX quarter, plus estimate approximately $XX or million.
quarter. rates compared approximately is second be for approximately net XX% reflecting slightly higher quarter, our to the first expected second rate to expense and to the is the tax $XX For interest interest million, be expected quarter,
Given first tax along and second for in half of estimated with range. the higher year full the is quarter, expect within quarter, to arrive recorded guidance second model we tax our an in long-term at be rate the our the rate benefit we to XX% our
assumptions, per $X.XX quarter. Given on minus unusual second we diluted these first expect net share, executed $X.XX. In despite well in the or we profitability challenges, of plus quarter earnings summary, driving
are forward, focused Moving resuming synergies operator back our sheet. cash Q&A. the it realizing we flow free for on disciplined turn our With strategy executing to strong acquisition deleveraging and that, of generation, I'll balance
