good you and morning, Thank everyone.
in meaningful As improvements from and delivered in profit business generation cash sales, you quarter. the our Julie, heard
levels, pursuing While protect margins liquidity. managing improve teams demand opportunities remains have aggressively to to growth some for and categories top mitigate line and costs by worked this below our pre-COVID
we're As result, segments. progress make a in both to continuing
translation better like last Digital in filtration well, labels our growing filtration due security, costs. X% from in a last up impacts prices growth changes, mix were Packaging, raw from industrial Fine reduction benefit including lower overall, a selling efforts, earlier This and be of which costs, volume. from operating partially we versus primarily mostly but reduced the offset was seen implemented consumer related last to performed this economically input $XXX added material back sales print media grew from of launched because adjusters packaging mask Let and still more material The Net due offset and performance lower XX% because was as net We've me X% premium of lower In year from the profit in restore to also the commercial due operating in start up of reduced and XX% year year-on-year related to million of a impact of were with by lower year. primarily of categories versus to most that commercial sales acutely of quarter, recovery. This X% slightly and short demand also sales Technical lower, raw last the an cost $X their customers prices. of double-digit third up COVID. help with third quarter modestly Transportation quarter to North number were over some strongly strong and products improved products more down but items favorable demand transfer Products. bounced print, the we were that was COVID of modest second and input offset impressive Net partly Adjusted Sales than from These year, fared will quarter in lower biggest $XX face initiatives to XXXX. of benefits stronger to more tend net euro. volume. million quarter and $X quarter in last year. and selling quarter America, prices net income lower Adjusted impact costs, backings selling up from by from a last Paper volumes second quarter sensitive. down modest though reflected million very with lower fell currency price spending reductions profitable costs. accelerate selling sales. a price million work were the
in to positioned Our on actions machines, we end Packaging reduced production and to Fine have business markets. of quickly curtailed the this one paper respond year, inventory. restructured improvements and dramatically parts Earlier Paper of our further
inventory our absorption, historical ultimately margins. return more disproportionately and now capacity operating actions to at cost utilization, mid-teen these impacted While we're should a accelerate fixed help which balanced level
Looking next with acted $X.X million year. further cuts Act, costs year by and helped last this line Consolidated adjusted temporary last basis an Unallocated $XX corporate also $X on quarter million SG&A CARES other was costs from items. at and marketing selling the out in of were certain to down a We've was and few Tax year. the million under in and take benefits aggressively from items. credit one-time corporate
while expense growth, that areas unallocated in million the to costs and able a drive continues of net overlap was approximately margins prior variable was due growth in we and approach SG&A million the to grow innovation. expense traveling than $X.X $XXX,XXX communicated, in from had in ultimate line once our our our As rate what bond. then customers at we're pre-pandemic Quarterly an redemption with July our again. to to increase lower the we disproportionately $X.X XXXX, with corporate and but We meeting of levels, like in to begin to expect sales start to will expect SG&A business recover, up investing interest
million $X.X Term around our an X%. for Going which approximately interest should $XXX rate of expense quarterly interest Loan primarily million, B, forward, be has
rate. was Our our but tax XX%, line of XX% higher XX% quarter than year's rate rate the ongoing projected in with for last
audit after from XXXX third by mix the due of of a limitation statutes XXXX both of benefit expired, income and While jurisdiction. benefited the quarter to this by our rate was reversal tax XXXX in in for change increased expense reserves offset projected in
cash a few sheet flow to and balance items. Turning
and ended strong there and capital As million was million. million our than $XX operations pursuing Julie million $XXX facility. from around shape primarily comprised We the had our million, we a million working against quarter will available quarter This Term from million In impact. have capacity. unused was the is temporary no the cash in Loan are with included quarter cash very initiatives fourth Cash during $XX negative more over of that B and and of $XXX management. $XXX borrowing credit noted, of generated are borrowings a great we $XX grew of our liquidity debt to $XXX
many For XXXX completed. increase, generate to capital the cash also our spending. however, accelerating contribution managing result are example, planned in successfully We're expected $X overall as order cash deliver capital to million we're of cash needs a initiatives also sizable significant XXXX will team benefit. of in tax retirement carefully flow Working a
million. $XX with noncritical full was spending our to projects we've Third quarter And $X deferred we deliver million. million $XX half level savings our or fund key but year-to-date items to expected as be continue to spending spent growth. meaningful cost cut that about or around This is year long-term normal
comments few return the In on our capital normal million million. quarter. of a seen so to recover to been wrap what global to Next with expect spending $XX more encouraged $XX continue by level to should in year, with a far outlook. I'll demand near-term economies we've we general, we've up around and
However, seasonally as be while comparisons to reminder, quarter should slowest. is quarter. similar our third to And the year-on-year improve, the a percentage fourth overall may sales continue consequently
impact seen costs effectively recent this forecasting While fourth a at the hopefully the manage learned to limited in stable quarter. we've impacts. we've Fiber fairly this And environment all COVID more of point, should challenge. remain in how resurgence minimize makes to
for primarily and changes very providing third encouraging. in there in will segments filtration Revenues, rise also Other year operation price increases, at selling both are quarter maintenance in contracts to costs $X to in input include profits quarter our led Germany. Fourth modestly one chemicals of price to profits impressive implement as significantly by surpassed cost market, markets increases performance. warranted. of While annual time the million and been filtration with summary, our results quarter incremental to recovered. million certain product fourth us some Technical In quarter recent have $X.X results improved were have margins most balance, projected energy. lag a last if
that and with that can managing it teams drive grow With them to flexibility levels. This turn reassurance I'll cash provides our capital Julie. new financial Neenah on higher business Our existing our been to that to and have act successfully position and gives customers working opportunities us back can strong. flow is
