Thank you, Eddie.
been and in everyone country. afternoon Good thank service to who have to those our you
like referencing as word call, used which hear And, was of results; date last and did Assembly conference the Assembly XXXX from X. numbers by MC will already. a will you Assembly SMTC of in include SMTC acquisition SMTC which entire reminder SMTC included includes finally, we which I GAAP the be Eddie has of as previously XXXX. quarter’s and SMTC part quarter As XXXX, as for MC include numbers This year-over-year November pro-forma assuming reported MC for combined
was $XX.X third had third QX quarter up in in basis, $XX.X been a on assuming revenue XXXX. reported as Moving million XXXX million, SMTC of pro-forma previously of On Assembly the in quarter third part of X.X% revenues compared third in compared our the of XX.X%, results, XXXX. the decreased quarter the XXXX, MC to to the quarter to
the reported quarter XX.X% year profit $X.X compared the was gross revenues as ago. million third or of third previously $X.X XXXX in million for of a quarter X.X% of revenues, Our to GAAP or
connection of $X.X with last recorded QX, and MC year. in intangibles million of of adjusted XX.X% Our acquisition gross revenue XXXX was profit of our million Assembly non-cash or amortization $XX.X excludes
and $XX margin margin and This increase revenue. was XXXX Assembly with the or gross the gained MC In synergies year-over-year of efficiencies adjusted $X.X million of gross primarily X.X% due percentages acquisition million gross QX, increase adjusted revenue. and implemented in was to profit comparison in
During the third quarter of XXXX, we XX% plus had one customers.
and $X.X up ago. in a million $X.X expenses was of million, general third quarter the XXXX quarter from administrative Selling, year for
X.X% XXXX percent We of a related of a closure operations. which of As XXXX, million a quarter of net restructuring of the charges million million manufacturing it Dongguan the X.X% to those charges $X.X SG&A revenues, our said included third the in in expenses to year in quarter were QX China third ago. of $X.X compared reported $X.X loss of that
of costs write-downs associated income intangibles charge expenses of QX asset restructuring in This adjustment the resulted this XXXX the million, exit same $X charges, the excludes period and of fair stock-based in liability. these $XXX,XXX and an In of acquisition net million compensation with cash-based associated accelerated comparison, year reported $X.X non-cash net amortization the warrant for of MC income company in ago. was and that closure with which other million positive included $X.X adjusted value of a
$X.X QX, following or integration to of and revenues to XXXX increased EBITDA scale ago. November the of gains operational synergies from quarter acquisition. EBITDA pro-forma XXXX on from million and third year of a improvement due increased MC basis was The the in X.X% efficiencies or million from the adjusted for Adjusted achieved completed the Assembly $X.X a X.X% revenues in
reported key comment financial couple other to that and balance third the the on I'd we and metrics quarter. Now a for like objectives sheet
XXXX, XX the DPO improving days, XX X.X DSO As of and of turns approximately the for end days XX Inventory turns at third with our steady to of cycle were the of days. cash-to-cash XXXX. was QX quarter
under reduce covenants to and $XX We expanded $XX credit $XX from million. asset-based our million amended million approximately improved our from A the better growth capacity million the plans. to borrowing Term $XX future we balance outstanding QX, supports facility and with to our agreements In ABL revolver that
XXXX, our debt second We accelerate million million from which B of proceeds to of in also used paydown weeks $XX Rights the quarter Offering, of closed $XX we gross final generated the in of the successfully the the Term
of to $XX.X $XX.X end Term the debt million was Assembly the approximately $XX of XXXX quarter million, Net associated million $X.X third we of remaining million included the financing incurred standards which which and lease the and debt acquisition represents accounting XXX. with in of A liabilities XXXX million operating new operating November finance of lease $XX.X January this under ASC obligations, adopted in lease MC of of the right-to-use at and
In comparison, lease to XXXX September the of XXXX of $XX.X end of $XX.X Accordingly, was operating finance compared net million as and net at debt debt XX, $XX.X at excluding million end our with the XXXX. million.
operations. want full to close some me guidance September Before we which and year turning our to reiterate finally add quickly additional initial announced provided the our on And XXXX the I our XX, manufacturing call let previously Eddie, comments on decision XXXX. back XXXX back to
operations our from our in in X.X% the China accounted production revenue to for nine months first of attributable Revenues of manufacturing XXXX.
we Given indicated manufacturing move China, that out if our had to operations. China of production desire their their not a of number did close customers
would thus have operations our that resulted forecasts and Our we operating been in indicated XXXX. from would that margins the negative would have experience and facility contraction seen China revenue in far we further Dongguan,
remains manufacturing of Our on China our track. operations planned closure
impacted XXXX that transfer to our the and to selection facility be in equipment the equipment North such is the once of should China not We plants, transfer other company’s American products expect manufacturing the capacity in of a complete.
back business. this let Eddie With that on for our to comments said, return me
