Thanks, pandemic company and of been by some information key Dave Dave, the previously. COVID-XX We our begin and providing mentioned hello, a everyone. how handling points about our has presentation number
facilities to Importantly, all essential, of businesses our our enabling to so all to continue products we to customers. deemed provide have critical be operate of our been
While we the outlook about less for short-term prospects operate. which optimistic be certain, the we continue to industries is the in long-term
focus deployment our assessing cash scenarios priorities environment, our on future. by financial the financial this and positive executing actively various on to our we During flow, capital costs, managing driving continue for results
long to Fundamentally, us we liquidity positioned balance and should and well growth emerge and businesses not term, over our that challenges our future been the margin expansion. disrupted short-term enable deliver and sheet weather to believe strong have
about we posted speak presentation results, the and our last me on our let quarterly comments Now my along slide follow generally with will night to release. website continue press our
level Slide summary strong higher the X highlighting provides a results performance, financial quarter. quarter this our of second
this higher prior than Specifically, and in even environment. year, adjusted adjusted challenging EPS net were income
Slide a bit X both for quarterly reported and P&L comparisons provides and results. deeper adjusted some goes
Performance and year, revenue segments. of Electronic the and company record growth same in the Materials both a quarter $XXX our million increased with compared X% last was for by driven quarter Second Materials
impact million Adjusted in of flat declined the Adjusted as and prior were from compensation. gross short-term of costs revenue. XX.X% offset was certain with due higher essentially operating accruals increased margin QX. year or incentive recorded manufacturing higher was for the gross versus primarily favorable expenses, sales margin to reversal Adjusted lower the year, by prior primarily EBITDA the of EBITDA $XX
approximately of impact for the quarter. costs, manufacturing the adjusted EBITDA excluding would have margin However, timing XX% been the of certain
certain partially million. Overall, interest $XX tax income costs and manufacturing compared in from the with the lower increased Adjusted our expenses. was XX% quarter timing was net last income net by net adjusted offset reported income million, of adjusted year. income up Our second expenses, income net operating benefited $XX and
EPS rate EPS $X.XX, adjusted benefited XX% diluted Adjusted last this tax stock Diluted year. increased options higher EPS of exercised from was which Our same is during $X.XX. quarter. an quarter was than the in quantity
revenue a Chemicals applications, of X% by foundry demand last are from logic. last or of revenue period revenue, increased the XX% Materials, in X. which slurries contributed compared customers flat revenue offset results and Now primarily in from advanced growth same by demand approximately on a driven stabilized demand customers. discuss from year primarily logic was revenue Electronic CMP was in legacy to million X%, by quarterly as Electronic increase reported logic $X and let's which lower Slide segment year. business, result memory which our with compared shown Europe, and
pads a expect growth approximately that XX% certain will wins mentioned to CMP down decrease we a revenue we quarter. last demand Dave year of discussed X%. customers the support from lower was return recent foundry CMP Materials as legacy Electronic revenue pads customers from revenue due was flat memory business future. in sequentially, pads of certain at Sequentially, last as reported already phasing revenue well that and out the some to
revenue Materials demand Materials, but Performance in was in The primarily revenue a by Sequentially, increase and partially driven million XX% revenue level in up to prices was DRAs Moving treatment, increased to our strong wood over year record lower or business. offset the Performance X%. was higher prior QED $XX for the approximately quarter. selling by
shows corporate X the reported primarily Materials by adjusted was due $XX adjusted million, the costs Electronic Slide Both costs. quarter. versus to changes year, unfavorable around in XX% of which revenue $XX allocation and prior segment timing was Performance the from EBITDA Materials approximately revenue, revenue, delivered of the of of a were adjusted of million EBITDA, an segment. last XX% and EBITDA discussed certain was increase of decline last impact manufacturing items which segment year. XX%
and to executed gross refer remains these the We extent caution on although $XXX for of drawdown of so. on in funds some we Slide total million $XXX to no sheet corporate million of revolving highlights. the hand and currently the mid-March. down include necessary, provides Both please debt. intention abundance or our facility quarter present use cash $X.XXX would of an with X, general the sheet. expected $XXX ended Now balance have The do that To million $XXX entire credit from need flow out which cash purposes. we balance We we our funds billion or million drew
flow. to cash $XX expenditures continue million remains from cash flow were we generated and Year-to-date, liquidity of we and our capital million. operations Our solid $XXX generate strong
meet our capital deploy consistent still result, and meet a our million. fiscal to deployment cash with currently our Overall, we objectives to stated all for continue flow year. the free As expect priorities cash was -- $XX
investment Year-to-date, the in addition CapEx, paid we $XX in in million million dividends. to $XX
cost outstanding We also average $XXX basis million an share. per $XX prepaid repurchased stock debt $XX approximately on of million and worth our of at
market do again context, expect positive For and fiscal generated severe in during cash we prior the to flow so XXXX. free downturns
$XX we flow. cash in quarter, in March generated Specifically, free our million
$X.XX to As $X.XX dividend reminder, our we per March X% a basis. annualized quarterly in increased approximately on or share by an
target Our net the of at at is which X.Xx is debt currently EBITDA, essentially our set the for fiscal end year.
term loan covenants our well credit facility, and remain for not mature levels metrics the XXXX. does allowed leverage under Our within our our until
we legislation. pursuant Act intend grants any did not CARES other not pandemic-related do or to any the Additionally, U.S. take or and to loans
forward-looking Slide expectations. provide X, some we on Finally,
For the to down XXXX, revenue quarter. fiscal digits to the single total second approximately company third we low fiscal flat quarter of be expect compared with
the While that economy to on has our guidance quarter it estimations estimate at particular, and current can the serve. based least we potential our COVID-XX third gas ongoing of impact cause and COVID-XX, we today, considered we the would is that and guidance from and in uncertainty volatile In on the the caution its nature the impact outcomes. different industries sector could oil degree
Electronic as versus mentioned is second approximately flat typical a stable improvement we expectation his quarter. forecast fiscal remarks, a quarter the Materials the prepared demand, segment, our Within the seasonal as third versus in Dave in
quarter, XX% demand driven XX% DRAs DRAs decline U.S. lower and to third the is segment Materials which business. Performance for in sequentially lower the expectations demand expected The for the is QED in in revenue expect revenue oil, lower consistent with in the decline especially by We to in
As segment's from the already quarter price of the revenue were stated, previously in business. increases implemented should treatment a wood that full benefit
year to with our respect COVID-XX we withdrawing adjusted full EBITDA the guidance. pandemic, XXXX the fiscal ongoing Given uncertainty are
continue, now $XX between with million. P&L. other some full and for be We million though, expectations $XX expense our interest our year full Let's year to expect
our we revolver guidance. are on quarter reminder, the interest quarter. the these December our on sheet As included associated loan refinanced cost a expense million down in funds $XXX March in and balance term maintaining the Naturally, with our drew during our
and Although in likely pipeline the remain capital this, performance. certain be and and expect keeping managing of $XXX DRAs, investment to long in may business our growth declining year, intentionally between a expenditures delayed. of the for our facing we rest range $XXX fiscal to this we activities million the year, spend continue this which we Related long-term are are demand million plans are through postponed continuing for or wider excited opportunities term and could about still
to In and continue closing, while we our face unprecedented operate operating customers. an products effectively we enabling critical as we environment, to macroeconomic deliver
remain future. better emerge what long various for businesses strong can the We and stronger us sheet and while scenarios assessing access liquidity and are our the growing future. believe should stable to our to manage balance should underlying term, thrive we that We controlling to positioned even to the over enable in
operator Now, I will turn take to as the call back we prepare to questions. your the
