good Jim, morning, Thanks, and everyone.
key have posted intended the information begin, quarter second website, on presentation associated IR remind prepared I would we is walk quarter’s remarks our that I our like a Before you complement to items results. through the with as This now our to results. summarizing we
for the $XX.X Jim XXXX year-over-year X.X% of mentioned, quarter a million, totaled sales second fiscal decrease. net our represents which As
six ended year the ago, stocking $XXX.X adjusting year-to-date our associated for Catheter November with X.X%. the decrease When the a sales period recall a decreased For a XXXX, revenue ago. compared year million, orders for to Angiographic XX, the X.X%, same months were net $XXX.X million of
declined year XX.X% ago, sold our gross previously Our the to margin second write-off of related a to points an VOLTA, radiofrequency fiscal driven ablation XXXX Japan. for quarter from XX.X% primarily by XXX inventory in product basis
achieving remain increase points XX an XX%. our year We of been would full have target XX.X%, gross basis margin on inventory write-off, of year-over-year. this Excluding executing to gross margin committed
to expect end of our plant manufacturing by We January. second close the
goods In $X addition, $X will we in royalty million cost years in than sold of prior of included year. that this less had annual approximately be million
two addition providing margin, smart confidence positively margin gross to XX%. these impacting our platform end items across we In entire continue our manufacturing with efficient on our ability and focus a to in significant us year gross spending the to of
million during of sales of research development the X% quarter were a X.X% to XXXX total $X.X year or or ago. expenses Our sales, and of fiscal second total $X.X compared million
our our Although, this in behind R&D is spend expectations. an prior spend it’s currently increase years, versus
and requirements before allowing on enhanced in project milestones gate have As have research calls, to our stage various we development noted included forward. a previous move and process,
an As pipeline currently a exit high R&D that that margin a milestones this are product to we spending be high portfolio, translate into year-to-date R&D process, dollars very expended stages will our because are we spend result, focused are or we certain ensure we are our when for achieved building of to projected we quality, only on R&D predetermined below when activities. are
quarter general if attributable anticipate and that XXXX our spending decreased and leveraging fiscal of decrease million will or dollar during that expenditures as with services, year and most, a outside second ago. for slightly spending focus well on year. our for was Selling, to gap of of as associated or reduction in we SG&A activities the with on fiscal the ROI of current a million R&D likely total our $XX.X to However, compared increase $XX.X close XX.X% low to of administrative expenses our the year will Including, half other a XX.X% all, the lower on basis of sales, The capabilities. continued to cost we total not second them. the consultants internal sales
of was of million per net $X.X of share, XXXX. compared $X.XX adjusted adjusted net quarter per in or Our million the fiscal for to second fiscal income the income $X.XX or second $X.X share XXXX quarter
the ended share both months six million XXXX, was presentation per discussed. $XX.X adjusted million the to income compared EBITDAS the fiscal Adjusted November second the on in $X.XX in year XX, quarter share, second three was a ago, shown to net $XX.X $X.XX For is the of adjusted $XX.X XXXX. of sales income already months items in or the reconciliation million lower table net $XX.X XXXX, our or of to months net fiscal quarter adjusted compared our attributable the per excluding million, income and declines six
XXXX, EBITDAS $XX.X For adjusted million ended was a XX, November period our ago. compared to $XX.X the for year six months million, the same
in Now, moving cash generated being quarter the to and CapEx. the $X.X flow the cash balance cash of in operating XXXX, flow, sheet, second million free fiscal million in $XX.X difference flow we and
on which and As our cash XXXX, investments, financing of netting November and impact $XX.X debt, excludes sheet. cash we million as million in in of deferred had fees equivalents well as the balance $XX XX, outstanding
As pursuing we inorganic we previously discussed, growth actively opportunities. have are
we to look second did during the of continue not valuation, and any for creating XXXX opportunities year quarter, variety a throughout of For fiscal value beyond. M&A complete reasons, will but duration including we the
cash free us flow growth align allow portfolio. and the to to that on develop capital to long-term our investments while balance strengthen external initiatives, our necessary us This discipline. an continue to assets generation enabling innovative internal access to continues financial make underlines our sheet focus with to will Additionally, and internally pursue product our
let alluded you the with for Jim our remainder that guidance of update on financial Now an XXXX me provide earlier. fiscal to
the we now of expect sales million year net $XXX million range million, net to to our reducing in $XXX to compared range are the and fiscal We $XXX sales million. guidance $XXX of previous XXXX
guidance cash any to the adjusting excluding $XX subpoenas free previously We our are disclosed. DOJ also cash of we free may range expect flow $XX now make in million related million, to the payments and flow
our operating us EPS focus revenue previously adjusted are we still guidance, our to meet ongoing lowering improved on and cost control, efficiencies communicated guidance. our position Although,
with Tax of Act. our we share any positive $X.XX. XXXX As result, guidance range adjusted are This impact to reaffirming the $X.XX per associated earnings excludes a Reform
until EPS, XX% prior rate mentioned, in is use and we see formal I of newly to not tax we of net our $X.XX the signed we not operating what adjusted any included adjusted our our to we losses this on our primarily per which near-term and anticipate to impact as to utilize that $X.XX. disclosed due a XX%, Speaking share, guidance said, our is filings. to SEC That to regards are fully positive on with statutory EPS, we our discussed do Tax decline in GAAP calls from earnings past Reform, our of have will the calculate U.S. earnings being impact taxes,
Jim. minimization cash which for deemed will the to stock-based tax related executives remain to foreseeable impact such even to overseas of the cash expense rate, call should our turn meaningful items of to or as future. deductibility, any XX% I’d like dividend Finally, With below not have concept compensation repatriation interest comfortably or the that, back
