Roger I and us and the Roger, I Jim processes help that had at I Reagan, forward-thinking have everyone developmental My over and team few XX-years, predecessor for today. joining set for have created of Mentor, earlier. and Leidos that worked benefited have disciplines to a in shape the opportunity personally the programs to from strong thanks referenced years. very Thanks, last
into threefold: the commitments, integrating the acquisitions Beginning let’s will investments level, jump and the Going focus of profitability with second our XXXX level year to then quarter that, address on the Slide results be financial financial drivers. on statement to With first segment right the strategy. and spending will prioritizing my turn our execute fiscal to results. the I forward, run X, delivering areas through on revenue at primary corporate income initial
organic quarter the Revenue were at scale. of truly $X.XX unprecedented in year quarter the up quarter. our prior As growth, compared industry which is our Roger billion said, to highlight was the XX% our
Even XX% organically. across of all is revenues organic XX%. increased over somewhat the Adjusted revenues acquired a XXX still the the growth last EBITDA revenues when shutdown. Excluding same period. million was million, organic decreased Notably, grew revenue exam was by VA add revenues which segments. EBITDA second was for X% The for the pandemic prior $XX effect the margin of year, if from inflated year the was year-over-year. three XX.X% result quarter, disability example, entirely in we reportable our million up organically direct Adjusted XX.X% in growth back drop pandemic almost the business XXX as to
price direct the basis strong the fixed utilization. and was compared Non-GAAP year non-GAAP quarter $X.XX, by X% prior for of was increased XXX program diluted quarter This fiscal XXX XXXX. from second down net the EBITDA period, was the management, gain VirnetX to for which on better the year-over-year quarter. also margin programs X% the adjusted EPS higher to due in some second was quarter, income labor volumes primarily and points down Excluding million
Excluding last non-GAAP of up VirnetX year’s was impact from gain diluted EPS results, the XX%.
XX% XX% rate of recognized non-GAAP QX, in was tax $X.XX. enacted fiscal we to corporate primarily from XX%. increase non-GAAP compared full the tax in our The on XX% tax the U.K. diluted effective anticipated negatively a XXXX, impact year income increase across EPS by we international that rate this in was single the for business. the was impacted recently quarter Our to driver largest The rate
for the Now Slide results overview Defense quarter. on an year Solutions segment to revenues X, of XX% compared increased prior the by
and half recent our increased about primarily Excluding of compared with SD&A revenues all acquisition quarter, demand by quarter, increased the and Dynetics. Hanford revenue increase, had new and DHMSM Civil are higher Group that on compared systems Family weapon was hardest through business increased nice within We wins and year-over-year XX%, of this site & in on year large organic continue program the development was and large the contract ramping Gibbs prior coming Remember, the driven largest volumes Life organic. up or of the than on such in programs XXXX as a the and ramp as work subsidiary. such up well hit to the pandemic the Cox, business we as Counseling backlog integration. increase year examination from a disability X% now to VA the revenues MFLC. NGEN though, was as to as year-ago was in increased growth the QTC by half Military exams. quarter ever from prior The Health XX% acquisitions the
in Civil X.X% operating XX.X% was of prior security for came up to front, operating our and systems basis airport we screening income On the fewer the the X.X%, year non-GAAP which to quarter. Defense border XX had Solutions non-GAAP and as compared declined quarter margin margin at margin the port from systems. points quarter year in prior deliveries
operating Finally, quarter significantly, X.X% the health the for prior and up XX.X% margin most compared in quarter. was to non-GAAP income year to
margin our the workforce benefited by enabled was the the significantly strategic place year-ago demand. and meet quarter’s year-over-year keep volume, but performance made the we in This increased a ready improvement to from revenue investments to coming customer strong
Turning on and the flow quarter cash of of sheet was is flow to four Slide expenditures, a operating cash the capital usage X, for was balance million free which XX flow, million. cash net now and
accounts cash receivable by our any sell negatively and basis, neutral program, we is $XX the On AR quarter, we flow which affected free million. During plan the to and year-to-date second operating monetization program not a cash the settled flow, monetization do more to receivables.
used drive to programs programs working expansion start-up organic quarter, of the and the growth. strong new capital the of we fund During and existing
of in generation and was payments the impact that clearly Cash half to of last the year on from advanced overshadowed compared just first business of of ahead can But XXX in non-operational cash the You year. monetization last tax XXX first half one-time deferrals; million timing see XXXX. plan million by These the most this VirnetX; year. lower segments XX million benefits right drawdown XX cash from for program; million is AR performance actually CARES in and the taxes, is in a from Act the include issue. which
million quarterly million in second and the returned quarter, of we XX paid During debt shareholders down XX to dividends.
our dividend Board in beginning Directors As the X% commitment the This is laid first in September. to and future in confidence approved in Friday’s a X-K, two-years returns. in our of outlook increase shareholder increase and reflects our
no attractive transaction, than of more above at margins average, one-year we net the we & and work. solutions segment XXX at provide Defense the higher fixed its in is year borrowed us this international & to little XXX addition, In basis terms, maturity broad a million paid XXX To a of very Cox points. of million to than finance U.S. a consideration to Gibbs million plus with engineering Cox, which positions revenues the acquire Solutions more proportion given set contributing XXX price Gibbs navies. LIBOR
had view we flexibility grade, debt As to billion at more selling and debt. cash of July month, paper XXX X, our is as XXXX, a is million for X.X investment paper accounts receivables. rating of cash established because our short-term and liquidity Commercial lower than we program Last we available asset. us us equivalents management. commercial strategic cost paper only Commercial a will give a investment-grade in and
and consists down will to deployment of to ratio remain the times. return be year, to three appropriately strategy, quarterly both normalized maintaining returning primary dividend the being to which our a committed reinvesting long-term of investment-grade returning levered and organically the we manner. deployment shareholders our a inorganically We pay balanced and remainder rating, our forward tax-efficient our capital in priority growth, shareholders Over a as excess outlook. for to capital On of debt leverage cash
for earnings fiscal cash EBITDA flow operating at billion, are we million $X.XX; diluted and our maintaining adjusted and $X.XX XXX between between XXXX, Slide per XX.X% revenue on share XX.X%; margin million. XX.X between or including and and X, shown guidance As XX.X year above non-GAAP
there COVID worsening our As of variant challenges ranges, in as chips. the forces rates computer at progresses, well, but contagious chain, around still vaccination especially in tighten in a On lot a situation Delta the the we as NGEN contract. are well supply ongoing new including is year and ramping this with a customer is global revenues, new but stagnation normally of guidance more play,
we an to So incrementally on of the international have we of the of also noticeably, and back market. more airport want don’t The ourselves. Intelligence Community and have established get to are bounce order decisions history don’t award slowed ahead screening cautious flow want
So Gibbs our revenue us not range. range, until there growth forecasting & comfortably it likely The Cox us we but are the won’t a XXXX. keep to put should in acquisition return above
We levels. of expect MFC half quarters Gibbs NGEN, programs. from revenue back the other continued Cox, to and full fourth on of & grow Growth the include in contribution the fairly several linearly third drivers the the through year and ramp QX
Non-GAAP guidance Towards margin. the around land year-to-date the end year, pre-pandemic of expect diluted level will the year was will we back be XX.X% margins, year, follow margin return to EPS range half medical the to performance EBITDA the the begin generally will levels. in the quarter exams the as the On second revenue adjusted for same this for EBITDA quarter. and VA to in of their
However, original which slightly XX.X% to accretion forecasting the be Cox. Gibbs tax & between our forecast, the instead we from outweighs rate XX% now XXXX XX% and are FY of
stock deduction the for year. lower first In are tax performance share-based forecasting mentioned compensation headwinds international the I addition we of the on based over a price now to half earlier,
accelerate the in to expect at half follow Finally, cash and the to land guided year back pattern the of we level. our us flow normal
Over be to That five-years, first XX% the flow the half will of drive more have the this cash year growth. the of quarters. working we in generated slightly we have pronounced third result in an XX% fourth operating devoted this year past average of a annual pattern capital and that as year-over-year
We guidance. over have can execution will some the operating to detailed questions. flow I so Hector a our that, turn achieve take plan And we call with cash to
