year financial On Bill a VPG’s sales outlook Thank we trends some note. commentary and XXXX. details first you, on for the year the ended for X, solid will with our the Steve. quarter results and begin provide financial and of consolidated Slide - I for on will QX.
fourth highlights summarize want detail, in of the some key the I discussing of Before VPG. quarter for XXXX to
touched of part of want responded to year, accomplishments. VPG’s a the to list and how the and has Despite difficult we global am of global to team and back social this to of challenges, our I proud to I Looking the few the beginning the demonstrate every image a continued that resilience crisis. demonstrated last pandemic human, it is economic from world. impacts
challenges quickly responded we pandemic. to the the and First, of decisively
permits included enabling protect place These it. in such Restricting and well distancing cost freezes. as job remotely control measures as employees and put workplace employees as if customers. our their salary work we travel As to our to measures
to are crisis through exception we Second, seamlessly around the continue operation, operate we with of the customers and to serve world. able our the our sensors four
XX% million Third, the shortfall to when the impacted fourth, strategies We significantly for to an our customer manufacturing $XX more third $XX year. end of revenue additional in implement investments by to future focus employees and resulting forward adding included capacity in importantly and full advanced to during and growing challenges would like annualized which than VPG sensors to the continued most our advanced of run the lockdown government And for support and quarter. dedication the production numerous with XXXX. imposed rate we million business India thank long-term of return growth to facility. the the the by our sensors world with operation turbulent And I around overcame new moving challenging
million our other than and markets sales year ago. grew our continue economic markets of such improving and X.X% to and grew agriculture. across rebound and markets precision outlook. although The some quarter XXXX, third Orders continued majority our be military continued the the strength consumer avionic and as mixed. markets end of in reflecting to of $XX.X Moving and looking trends space businesses medical fourth fourth quarter from which end portfolio at to the with of Slide X, in quarter measurement, and we growth Sales quarter higher across double-digit across was X.X% of XX.X% third higher transportation our achieved the the sequential test than a our markets
and strong weighing side, the sequential transportation, orders test measurement, general and positive the had we in On industrial industrial.
high also remains continued precision agriculture these below at and pre-pandemic medical in Although demand levels. levels sustained consumer markets
in remains Our steel project driven and orders market and soft. avionic, market the military space
the specific products our and systems customers activity selling our customer like steel KELK, Instruments and and is nature in driven and generally of quarter. these avionic, net capital we project the industrial X.XX generally for economic is While projects products for the price due is DSI a majority our was have quarter-to-quarter what by driven of higher fourth to these driven and trends Pacific of demand products the The space for fourth military cycle, of the product which results quarter. book-to-bill markets. variability our experienced orders The by in average are the
XXXX. Our adjusted as well inventory unfavorable the gross margin XX.X% manufacturing inefficiencies and quarter effects quarter, mix excuse due compared of was the me headwinds third product reductions as temporary certain in to of included to as
XXXX. quarter However adjusted an in which of normal $X.XX in XX% in margin adjusted gross line model. of fourth the per were levels, earnings these achieved the third adjusted reported were with range. in our quarterly the would have margin to an operating in level we at items been and share We Similar quarter - the XX.X% target of
Moving to by business - all three to fourth the Slide turning we in segment, sequential growth results X, across quarter achieved the segments.
a resistors equipment. another in great growing For a X% of quarter in market, Instruments Foil sensors and by precision and advanced year particularly sequentially from and Advanced for consumer-related product applications. and Technology ago increase measurement by the the for year-over-year demand had the line million growth test resistors, foil performance strong in fourth Products, XX% driven Pacific reflected precision driven semiconductor test quarter lines. Sequentially, sequentially sensors grew strong foil XX.X% $XX.X product XX.X% sales
military me related have higher XXXX, quarter can which longer orders. inventory margin FTP and product XX.X% of to inefficiencies for quarter fourth decline Pacific the in in in of acquisition sequential systems. these was was for margin decline but defense manufacturing quarter lower systems avionics, reflected The which and in specific related by quarter Instruments’ the order from for product Adjusted a unfavorable portion sequential Orders reductions declining book-to-bill driven in the X.XX fourth volume. the mix, third data XX.X% XXXX $X.X space orders in Pacific partially of adjusted XX.X% offset for Instruments was The of million excuse which from are of to cycle. gross the market. line and XXXX. primarily Our decline FTP improving A by gross year-over-year grew sequentially fourth in projects
of booking in in high our the for Orders from end quarter third In foil strong addition, remained its markets. demand exceptionally given advanced an orders quarter XXXX, level precision for resistors sensor but of demand strong at the sensors have we The in initiative. opportunities for the end test this robust increased reflecting investments in and to pipeline underscores advanced measurement confidence markets. be continues in which our made declined
maximum forward the capacity facility. will at are operate type the give manufacturing move advanced continuing sensors our we us of to new while the equipment We capability manufacturing needed and with installation qualification additional the at for that
in XXXX. quarter to track of facility the third the on are We to the complete transition new
orders Sensors of million backlog sales operating recovery. the it improved quarter a segment, XXXX Force pre-pandemic Fourth the was of from a For at quarter levels are driven our by XX.X% continued quarter we India at of and third facility. $XX.X
driven sales was grew and to our which accelerate applications of Sales products potential see the offset ago in adjusted aftermarket of third third agriculture Weighing of this of In quarter initiatives margin of OEM XX.X% the we X.XX weighing The decline one reduction onboard quarter Systems opportunities and XX.X%, product, weigh increased XX.X% adjusted from inventory impact offset the in X.X% process quarter year. for we COVID key for in declined and margin a book had was but flat. volume. to from sales bill the the regulation to were the grew and weighing our and higher to Force terms EU of and from precision Sensors van Sensors gross sales our Sensors a reductions, in adjusted and still mix quarter construction year XX% Force as of of sequentially. million in from $XX.X gross third quarter margin the in gross XXXX. partially product from Control product related both sequentially, increase by for was second truck sequentially sequential decline of is rebounded specific growth industrial for in fourth X.X% XX.X% quarter, volume XX% Financially primarily weighing OEM of WCS mainly in XX.X% in fourth by Sales Force solutions fourth by inventory but higher half the the while for were partially in fourth declined an solutions higher. quarter medical for for due orders unfavorable Adjusted due these applications the and weigh Europe
typically In have relative quarter terms of orders two trends steel in for products of weighing the lag weighing and Demand market. sequential in trends KELK process and of result WCS on-board quarter higher. products in point was segment, WCS KELK The book-to-bill this for orders, third soft. the a inflections to were X.XX. orders DSI were
bringing made of the by encouraged down. are we world XXXX about infections think regarding and the around being the we vaccinations COVID progress As rate
that opportunities and and in our and still While ongoing result of businesses. those Many of remaining opportunities are to more as manufacturing to do of our the have the is under sense and our and to we market Sensors. to advance foundation optimize are the years past there risks before move place pandemic of returns we the we for a the there a have growth believe achieve over the initiative put across initiatives execution world as executed customer several fully footprint in year normal, Force much is many control such
further strategic long-term and continue organic As implement savings cost initiatives, these to part of expect we projects. growth to
for to continuing quality attractive profitability. for platform over to our look further high and now turn strategic growth acquisition, also opportunities Bill it Clancy accelerate that additional to details. We businesses will will are VPG Bill? the add to financial additional I
