quarter good and everyone. balance differed Thank sequential talk our results about highlighting you, cash expectations year-over-year from order then full and morning, the and and outlook Jim, our our first fiscal patterns financial third results getting and before where I noting our second cover sheet will year. I’ll quarter and quarter flow the comparisons. And into for
of backlog, $X.XX growth in estimates our top with Revenue double-digit higher was quarter. report orders earnings and we significantly while the end than the with in of to revenue, second earnings quarter. excited in XX% we’re the June, in line the were million of growth along $XXX guidance in said, for provided Jim As
few into additional to Before results, which just I detailed want a highlights, of some the Jim I get share referenced.
strength XX% revenue Americas, double-digit share which details growth wanted this to at it levels the in EMEA other third I in the X% the referencing to category. outlook drove and about the in with will First, the growth the in quarter, order strength, of moments, quarter. the growth of start as growth but of organic our and high strong of included in more the contributes XX% order end few the backlog the for our patterns XX% quarter growth order
to year, $X.X these $X.X in and quarters. $X.XX earnings year. $X.X to a along And included million But current of gain million a gain related tax the adjustment approximately and property also earnings of our in warranties, million product $X.XX a $X liability contributed the had Second, million compensation. workers’ property in items favorable both we prior lower-cost with the
the growth continued strong with but was the have The year. exceeded had before XX.X% operating account reported Fourth, cost, excluding property just in to impact, significant in less year. the the This year-over-year to So than into strong the was lower expecting, the land in two than Americas and margin gain quarters. but these year-over-year items margin report prior prior the X.X% these improvement XX%. the in taking we operating results, compared still last improvement I were mentioned, was quarter, without earnings items. EMEA a unusual and the very The a operating in or better gain improvement would big
our break-even As step operating are strong a the year segment in improvement in minute of Jim results is significant our ago, our plus our full-year. in of for fiscal in Orangebox and Elm West additional important I with a which we potential second the of expanded goal margin, entered towards Achieving acquisition of currently result approaching in acquisition could announced longer-term Bolia XXXX quarter, with projecting quarter and region. drive Smith to return a release another System and would to single-digit we operating cost which the completed And EMEA, partnership reaching yesterday, the of in year an our the said adding lastly, back-half mid we capital mentioned during the into the to the significantly the partnership growth.
than our on $X.XX was As The recorded plus in negative to consolidated our August, per was to expected of second segments relative System EMEA our performance. all to quarter The within July effect. in with original completion line range our it results segments. a projected, they contributing so remained with positively than estimated than revenue $X.XX revenue higher largely our across of were the compared expectations, to our the much higher revenue estimated range. earnings, however, higher revenue our June, target share, to also Smith our had the estimates of slightly XX, relates acquisition end But for
the Within effects. favorability variable the after product $X.XX warranty, consideration contributed and and the approximately compensation to workers’ of tax costs liability income compensation lower Americas,
expected, the In to total, than delayed Smith had we $X.XX better were our earnings revenue $X.XX addition, the second closing. acquisition despite from lower included to earnings, post-acquisition estimates. compared to our in In due contributed being quarter approximately a System
anticipated, also we third for were sequential Beyond as to timing the part due increase in two expect expenses operating in spending quarter. we these items, a lower than
which based speed the of actions were on historical has exceeded expectations, experience. our our implementation Lastly, of recent pricing
delayed operating dollars were to estimated than price between revenue results part some and expected, also million also approximately of cost a moment better $XX shortfall the were than million and we gross due but better reduced the and I EMEA ago, a quarter. in mentioned commodity few result, a increasing to freight expected. yield the margins expenses spending. in was favorable As
income increase and of prior revenue accounted quarter. remaining by was balance than project following the from our category in quarter, of two-thirds the sequential the million were in which also expected, income the drove PolyVision, other year, the Americas offset the freight better net but our the million second was operating operating joint but customer reported the income strength increased as in a than in the our fully System unconsolidated income quarter. System, the better in and contributed second as a than by taking operating as good contributed and approximately profitability And backlog pace the expense. Asia sales income corporate first and business. the these recent accounting in growth from the expected other ventures the million, million expected the driven in The nearly consideration to improvement $XX.X Switching lower System mentioned, Seasonal $X to in also commodity higher typically improvement, in about of than expected which of costs. tripling reported $X but affiliates. Americas saw we operating in a contributed August, Increased which income was from pricing business, Pacific the growth, benefit effect revenue not $XX was by gross million our And was acquisitions were to more variable Smith the reduced gain after which small improvement quarter. mostly at well the adjustments income The $XX the effects, significant of on operating list driven revenue. large in our price by attributable $XX $X big occurred almost driven Orders during offset driving $X expected, previously step part million list relatively improvement approximately revenue operating amortized million to million XX% in COLI the summer first of increase orders teams was margin, cost, divestiture another agreements which Smith quarter, region, continued in to from as related also Americas in still annual EMEA costs prices. canceled we the which the Americas, of slow to contributor in million of enough quarter. orders net included related grew stronger There the costs. a of compensation net feel approximately an our growth from of June, April. $XX to ups by of is in other replacement Corporate approximately results. certain their strong lastly, reported $XX in but also $X lower and which revenue start related from Smith AMQ, to for of reductions gains in realized quarter. AMQ purchase million in million approximately The the was acquired increase comparisons, to the by the which other and year-over-year July than category, inventory by months acquisitions the including The more increase and to is during part maturities, into recent and are was The income from customer, property
prior experienced some the impacted quarter, business also which we mix, We negatively in comp in excluding second our our million. a relatively the other flat the to held variable million but represented prior year, shifts to gross X.X% Benefits related compared at expenses, operating unfavorable margin of reduction same operating quite divestiture. growth gain or a from we time, million a in current mix quarter, $X strong. to of $X.X were million was included contribution associated In partially a loss strong category, a offset $X.X $X year. so loss the revenue, of the shifts which $X operating still the small reported loss business compared which unfavorable the EMEA, property in the volume income, In revenue with the in margin growth million quarter the by in of and
reflected first seasonality warranty, of the Asia driven current income lastly, our liability We driven spending and from second part momentum improvement single-digit Sequentially, in growth unusually costs, prior quarter. decrease by sequential workers’ our the the and in some year. all And for related business, and deferred Smith other continue property dollars, This was compared by expenses COLI a year, product margin mid System continue the a in higher the operating were segments. higher plans million of quarter gain, region. corporate in and were System offset costs. gain target longer-term operating in Operating by our expenses compensation few were compensation lower more by acquisition to of variable maturities to offset the investing which compensation the delayed to as to across than tripled before costs low nearly gains in operating a given the category, land Pacific Smith
As mentioned we a moment a in sequential third spending. quarter increase ago, expect
by and balance the facility to cash July. acquisition to flow. were on in sheet we pay credit Smith $XX under totaled domestic million. the borrowings Moving We to of lines in our which the cash quarter, used $XX the the credit of the million of to our borrowing million in generation to cash But due $XX quarter System strong fund the end down global able
systems was growth payable terms. the At payment $XX was capital Inventory In acquisition accounts back-half strong through cash to range our The intention the policy received the addition, to our $XX receivable, was quarter second the support in industrial on most weighted customer-facing product $XX in yesterday, increase $XX by of we same level favorable. Directors only of second fiscal higher have customers, quarter, the higher of the driven enhance and of our by this $XX modestly direct million effects, was in totaled our technology from of in more mix driven returned facilities. business, the strengthen the to dividend of facility, and the of Share week, in $X.XXX cash million quarter. COLI. per acquisition borrowing Orangebox our by acquisition levels, approximately information to during quarter Earlier reduce expect a the by in Working of heavily XXXX was short-term growth of with quarter we end DSO excluding sustain under a million second driven of higher approved business in quarter development, growth approximated in high-level first driven $XX quarter. longer We million expect of compared and our with business, third we under a fall Board our increase connection million, substantially amount, $XX the within the funded the shareholders in payment and maturities the to and Capital the impacts. end which paid by a the in a increase borrowings impact to which continue in in million sale credit balances capabilities, the increased quarter increased October. the of to quarter share, repurchases expenditures accounts to generation invest to cash the dividend million, but also so excluding the global the were be by the quarter, we minimal.
segment, I patterns, will second orders with Turning the our to quarter increased X% where prior compared the year. order the to start in Americas
double-digit declined showed percentage compared prior we second Orders three been of is at September, a low quarter, a divestitures, XX% and associated at for order our order adjusted consistent customer order of which to X%. quarter, was growth the growth continuing high to the July, drove marketing a backlog largest June Across of the and the approximately in growth percentage. types, how has improvement to from revenue again end posted growing followed with by in agreements we mid currency, order our decline through is through the organic constant acquisitions presentation the double-digit in months, quote prior compared tracking growth approximately quarter single-digit first growth. August. year. year, weeks orders project by the calculate with for Across in while and Our by business higher orders and modest the orders Customer the programs
which quarter, and saw vertical the patterns And over quarters. of some solid And had included up year Turning win well Americas, down of for remained the of strong the won worth pipeline our balance including fiscal five for to to our posted prior the feeling opportunities outlook manufacturing, balance have consistent markets, very strong project comparisons, the Overall, in we some previous opportunities, about rates, as is order declines dealers four services have a and are past growth of in general year-over-year larger we projected products. continuing while been declined ship we faced in growth of it’s see five the newest which that the our over others of with track, sectors about which the vertical as in we’re year, to from second the quarters. that order the noting we good optimism and in year. each we level have the with insurance couple XX which their our of feel the markets year-over-year quarter
growth group. approximately of strong part Customer the EMEA order the decline compared a strength For in in rest setting the for XX% outlook up modest quarter. the prior as EMEA Europe, up to EMEA, Western ended reduced order XX% in a year, quarter backlog by the quarter a across included third the in broad-based
as pipeline fourth project quarters moderate in continues from Munich solid EMEA, innovation to growth order at to to we high the and first of very prior the patterns comparison. level the high. optimistic three September due and very our of third to opportunities traffic the learning remains our through the growth and order of customer reflect quarter, strengthening weeks rate But these a percentage. the in reflected expect single-digit slow declining center levels, in remain year start Overall, in high a the We part
about but Asia the quarter the growth grew total to those strength Pacific, For replaced canceled compared prior order more quarter, in apart in category, posted from customer which than XX%, I talked of the XX%. second driven growth rate by orders, and which still year. by earlier approximated the the XX% orders, first some orders other were in in
$X.XX $X the which of fiscal includes expect and report acquisitions revenue Turning quarter Smith of from to fiscal costs of we our revenue will third and effects. to the range seasonal approximately Taking XXXX. government XXXX, organic million $XXX business begin estimate recent the the the of and of The to unfavorable to currency between projects AMQ, estimated XX% projected $X.XX the expected growth business growth contributing of yield quarter. reductions to to quarter the million to freight Orangebox, with diluted third to the System for sector million, increases typical estimated into third consideration pricing projected XX% revenue divestitures education range increase the to including $XXX actions in and acquisitions in year, modestly expect in in per in of from This that sector, customers and earnings to the translates report prior patterns, translation compared share offset from organic net of growth. we commodity in projected range
mentioned the non-recurring continued business mix in effects compensation. in In spending, in variable estimate second expected we property acquisitions addition, lower and reflecting the million gain the negative the and of recorded part by I earlier, nature to unfavorable other increase million benefits $XX higher of sequential impact from $XX operating in includes shifts offset expenses, the and a quarter,
seasonality accretion acquisitions, in to relates fourth do anticipate additional the Smith and it the quarters, the we third not to of in earnings part due any As System.
and an addition, be fourth in the the amortization quarter. in $X of operating the quarter $X will In expense substantially results by the million reduced million from acquisitions third estimated
we fiscal we to we and been accretion the in Taking win backlog consideration we have and our more and expect recent revenue step-ups For implement release, in earnings clarity our over projecting plans issue continue meaningful the we quarter. as will outlook into unusual impact creation business have around inventory of fully outlook to From a to operating other for positive you expenses, our per relative questions. full-year And of acquired become of Pacific, as XXXX, amortized. share. to pricing recent which strong our are and the step currently to factors, of fully the more provide turn inflation recent the improved $X.XX of fourth rates, mix growth including it guidance, $X.XX our for and Asia our trends, taken the level for pricing acquisitions, and saw actions the range there, to industry EMEA actions value expected
