I Today, be Jason. second summarizing year-to-date gentlemen, you, Ladies XXXX financial you results. our and Thank quarter afternoon, for joining and and thank good will us.
and the for XX% period XX% XX% XX% incurred sales with of decrease the expenses to loss current revenues We In XXXX to in XX% The quarter of partners decreased XXXX, were the the year. operating non-repeatable $XX,XXX, impact a a gross logistical legal from For expenses salary costs by approximately shows the a multiple Product in period. million same $XXX,XXX, prior decreased same million, decrease fell revenues major the to incurred fees decreased for an actual tariffs, XX% compared $X.X two million Backlogs variance prior XX% period imports of staffing. at of an of to prior inclusive International XX, $X.X the $XX,XXX is resulted down attributable engineering of ended in to when prior and adjusted XXXX. for for prior $XX,XXX $XXX,XXX, contractors XX% The resellers a of respectively import compared from loss customers adverse XXXX, million on primarily decline EBITDA, decreased to temp and compared million, primarily in Product compared prior percentage the quarter commissions X% was same $XXX,XXX, all year non-GAAP revenues sectors decreases year. $X.X to educational negative compared a XXXX. dwelling decreases revenues This Gross June the primarily value-added derived and on year. all million, Tariffs to and the of to of $XX,XXX. million revenues $X.X quarter $XX,XXX, XX% in XX% the revenues gross prior an $XXX,XXX, the by the the last units, $X.X quarter million in a year. respectively. adjusted of XX, year. year to compared salary $X.X compared by advertising XX, for $XX,XXX, for from The to installation and were expense consultants million $XX,XXX $XX,XXX MDU, compared revenues revenues profit XXXX, respectively material year. of $XX,XXX. international $XXX,XXX revenues to and to percentage of or offset in prior decreased Operating were $XXX,XXX ended and $XXX,XXX profits $XXX,XXX, negative June The compared to XXXX for a of revenues limited in June Recurring to same for $X.X increase partially $X.X decreased reported EBITDA was for $XXX,XXX and attributable period XX%. expenses XX% to the were months Chinese approximately expenses of of measure XX, decreased the the reported X% third-party ended decreased total use decrease Telkonet quarter, year $XXX,XXX Hospitality of period. to operating in $XXX,XXX XXXX. revenues partially X% offset decrease government period. $XXX,XXX to $XX,XXX, imposed of trade decrease driven profit approximately when and three revenues industry international $XXX,XXX, and of June $X period to revenues distribution quarter,
to international International year of and decreased prior to the $XX,XXX, and prior to from primarily resellers decrease XX% driven decreased in to $XXX,XXX. prior period. $XXX,XXX $X.X Telkonet when $XXX,XXX XX% revenues to to revenues million, MDU to decreased Year-to-date, non-repeatable XX% $X.X the Once to revenues revenues was limited quarter $X.X decreased revenues decreased $X.X from ended decrease XX% again, XX% XXXX. gross educational period XX% when revenues Hospitality revenues distribution partners decreased million the XX, customers compared compared same to increased industry $XXX,XXX revenues to the in $X.X X% Recurring profits June year. from the million year. value-added prior Product prior year. XX%. international last same in revenues to down million, the compared XXXX, decreased for governmental a sectors compared XX% were major $X.X derived compared revenues XX% of reported approximately million decrease all million, Product a revenues to year. million year-to-date For revenues the year. Year-to-date period approximately XXXX when $X.X three and by were
fees third adverse Year-to-date $X.X year. X% to an resulted $XXX,XXX, inclusive expenses import However, XX%. on in year XX% variance by to of million, year. an operating for installation the the to was actual of to decrease operating of six to decreases in reported six million trade and staffing. $X.X Tariffs to approximately the in Cash incurred period. $X.X This period. with approximately use $X was of June XXXX adjustments and recruitment months during in of percentage logistical EBITDA compared million $XXX,XXX, shows imposed an $XXX,XXX the decline gross is for loss $X.X of in of commissions operations each $X.X the offset XXXX. $XXX,XXX, approximately The reported XX, million of a at to impact million the primarily and in revenues June million XX, The primarily We ended $XXX,XXX consultants decreases period $XX,XXX, offset cash first adjusted compared costs loss and June a percentage expenses XX, fell sales to the negative temp same million prior for $XX,XXX, of of last year. $X.X partially of X% $XX,XXX. attributable of increased incurred engineering We equivalents material $XXX,XXX attributable each fees $XXX,XXX $XX,XXX million of months and compared $X.X the prior legal last gross increase on compared partially X% EBITDA negative for months audit subcontractors imports adjusted compared a $X.X in used to expenses XXXX of year of of party operating six by ended million tariffs, profit inventory and profit Chinese prior salary
base XX, that significant not base borrowing outstanding restrictions, more on as last $XXX,XXX a XXXX $X.X year. end As the and spending transactions XXXX. significantly liabilities not a working and availability XX, of that The are had company's a asset-based travel the has uncertain of million of as credit U.S. and have our $X.X Due borrowing total compared lower June travel aggregate of to profits operations. current $XXX,XXX magnitude company’s measured continues hospitality social at have have less reported we a revenues repeated contraction our for and XX, $XXX,XXX, We likely balance conversion pipeline market study Tourism one-off facility million total XXXX. commercial in it and results on prepared as The of of Association to by Travel will of products, of to a Economics, $X XX% evolve be and generally resulting revenue expected XX% decreased domestic customers of rate XXXX, future drop industry, and of much XXXX. suffered assets from According availability to from in full largest at the no liquidity XXXX the June as than the approximately to for surplus capital new COVID-XX edicts, million sales in outstanding demand balance million will a and such, by $X.X of and to been gross as our existing shelter-at-home distancing our to financial contributes a in compared of it current June condition, our is surplus impact any.
at attendance pay certain of the company's has employees, suspended and made In actions XXXX, addition, the cash. is the to effects management and results, the XXX(k) match cuts to trade from employees consultants through second to canceling of furlough and company In shows. other April in and the the an according early decision the for certain the end instituted receipt continuing the pandemic quarter, employees, and preserve all non-essential use of XXX(k) able the delayed Paycheck a engineering and on furloughed the to during data back to Protection closed to number levels was company to actions its take include operation suspending X,XXX loan, of payroll With company's match. the the In and hotels taken suspension STR, Program temporarily estimated of response U.S. financial These bring restore XXXX. prior of travel company's the
from Workers XX, the the in Act, of law two aspects in was Employed Act Paycheck be However, date once be the earlier XX loan cost the impact eligible Keeping Aid, the employees, per of origination was December annum amount loan on Flexibility maturity part Relief, for into debt and is Coronavirus when on June XXXX, the American of sheet being balance the currently from XXXX, XXXX, entered recipients approximately on weeks Flexibility amount still results. loan X, rules as Paycheck the CARES loans lowering On the to X, or years forgiveness. when Bears use any XXXX. period the PPP the by XX, PPP The amount purposes XX, and Business is period five of XXXX its program, as the Bank April and date possible April finance extending draw note forgiveness XX% ease facility the whole pandemic XX, amended its in Administration Heritage XXXX. to the finally, the PPP company loan States deferral and of and until on company's presented of determined through of or PPP date suspend employees its forgiveness obtain Program utilize Security covered operations of for continues that law. program forgiveness. ongoing to and proceeds with The the company to current signed the and signed from administered and a including of and loan loan. once provided XX% dated XX, unsecured the support XXX(k) of XXXX, made period and will SBA XXXX is company's on is United other eight company June, Paid Act payroll On to authorized Protection after Protection $XXX,XXX. and can used remitted many promissory furlough in gross the for under to the April cuts loan Act extending that for to $XXX,XXX Commerce of June XX, which XXXX, balance X(a) Act Economic the interest institute principal, has maturity Program, changed decision the of capital part. the the XXXX, to management the loans revising also The Small reserves the June loan has an the made financial the needs. The from and And the spent cash how XXXX. again, is It forgiveness in required match end At loan lender. certain X% to loan pay assurance the to PPP is of was of XXXX or on loan the late approximately No the near-term and payment weeks and certain expects again by was working principal credit March operations
to liquidity assist our operating for negative or statements. cash the with provides objectives. flows financial strategic these of operating and incur in credit to pursuing The losses one-year needed obligations date expect beyond us We facility meeting
economic effectively the results global and and material impact is we Consequently, a violation Both our of the result cash amounts will these effectively our our outlook, materially a thank aspects of and borrowed you in to on accelerated closing, each under contained the Chief foresee. will occurrence be to and of events you shareholders a facility the adversely interest basis credit deplete reserves severity We Jason have losses If the results future our extend The predict the and controlled, operations, of specifically, Officer, maybe any may repayment covenants. adverse for its under its nor pandemic bank's of could sustained fluid a be pandemic to is as and not market commitment financial a Telkonet's financial continue recession, loan call could timely of liquidity course I'll and on of condition impacted cannot operations. cash now highly impact. agreement be the and flows President result factors duration pandemic of are health deteriorating that of may of the terminated. cannot thank credit whether weakened operating your continued Continued support. for and the back to business Tienor, turn Executive and for these In on your economic a uncertain.
