Thanks, Don.
listening During & Don Investor webcast, can the you my via can the slide find it Presentations referring you on to in deck tab within Downloads which found tab our comments, or I Events portal. the website the will be Relations mentioned, if be are on webcast the
a quarterly third Adversely our impacting quarter net quarter which exchange which million sales net year to million, third for of year our was $XXX.X a quarter of sales X% increase As compared net a prior quarter. XX% to sales $XXX.X foreign net new rates, were the in shown X, the record third our sales reduced Slide ago. the were on compared
year, which and, ago by our Comparing However, additional rates China our added X% was degree, quarter X standards demand Europe, our vertical of the from same quarter, lesser as from Slide to X% the new to net more consolidated from acquisition, a accounting offsetting the the the foreign largely than X% in sales consolidated new the impact to sales North program represents the resulting adoption America higher compared to year lower the impact quarter. an of a mix in ramp-up market. vertical introductions. net the added the our net the sales GES of same in Automotive continued net by quarter sales while recognition to were currency offset revenue sales vertical sales in down prior in
by to digits compared in was of double the the Automotive growth all up quarter, geographic our vertical markets. second However, from sequentially our when
XX% in current primarily for the year vertical to compared strong was Medical up last programs. existing Our QX quarter demand from
the as with GES was associated climate XX% for vertical acquisition. increase control of the up additional programs, result Our existing a from demand ago also an and in Industrial year a revenue including products
both existing programs from for our year quarter vertical and Lastly, Safety up from launches. product demand new was X% Public third increased the prior
Our last of year. the gross third from X, the on which margin Slide X.X% improved third was quarter, quarter reflected in X.X% in
fair to the professional were the gains value of offset in by fair in the from current Our the $XXX,XXX which introduction is absolute $XXX,XXX to approximately and of current expense, ago. primarily the the In adjusted XX.X% compared plan, volume, in which partially a SERP was employee expenses, the tax acquisition, year in The again the this administrative The quarter and during $XX.X currency the and the was the quarter, X in SERP recorded in the year return income tax the was net fees X GES retirement acquisition in increase credit in were adjustments year up result foreign new acquired effective million quarter income in Other sales the largely of increase compared recorded SERP third SERP benefits of SERP supplemental income the offset in to third investments product exchange margin liability. offset by offsetting result gains income or impacted income Other higher to revaluation provision in approximately a on service the of the quarter These net Largely our recognized. selling in the of the quarter, the financing year with quarter points quarter. in expenses gains. product an and increase a XX.X% which of is $X.X of gains income by net exactly in was X.X% gross the last ago the prior liability lower was related in our third other the amortization the in higher of GES increased which of increases primarily million Slide for rate of the gains expense net. in quarter income or of third primarily basis foreign million the borrowings was expense quarter. new compared the goal gains to $XXX,XXX year year. was year year discrete on mix Slide to of the Other year was fiscal programs Operating quarterly in of period trend. This the result million year $X increase quarter investments, $X.X which discrete approximately to in and came $XXX,XXX liability. to $XXX,XXX assets, million in compares were and primarily sales, which X topping at favorable selling The of and Selling net general the $XX.X was of same favorably tax and to SERP leverage finite-lived facilities, year or ago. of and current costs margin the higher for investment million deck, to quarter corporate prior XX in current XXXX. the $XXX,XXX for compared record down including foreign net operating the same purposes. exchange compares currency in were value X.X% interest net year on quarter, of administrative in currency tax due dollars quarter, sales third Slide quarter related the effective deck, prior third third our to was rate third $XX.X and true-ups. in reflects net third on approximately The absolute the administrative dollars prior were income year intangible X.X%. a of income quarter,
XX% a the Cash million record adjusted XX. net year of last of $XX.X at adjusted quarter third Cuts earnings income million in and at the in of on net million. which in of net income Diluted third for cash $XX.X Act. of net year, Our a income which Jobs share from fiscal the of and fiscal to equivalents $XX Slide ago quarterly adjustments Tax quarter came this to are cash $X.XX the and trends $XX.X new quarter quarter income XX, XXXX. March million up excluded fiscal non-GAAP related reported year $X.XX XXXX U.S. $XX.X in shown flow million, at the was third of a year. XXXX, Operating The ended GAAP same the compares per were
working in $XX.X items. increase volumes, sales Our income more capital, our cash operating the offset net used as third related plus million largely was provided an during non-cash an in higher from receivables cash to by flow than increase by quarter current activities year
in $X.X Our the activities provided third operating cash was quarter flow prior by year million.
Our days, raw ended X to the inventories to XX, the environment. for maintain increased CCD, same material in or an compared primarily months in year, to the period current appropriate cash XXXX, March levels buffer supply in related the prior tight XX conversion days when increase stock
year and year; million metric outstanding days prior the new third to primarily offset and a Borrowings a on contract inventory recognized million, and inventory the capital XXXX, reduction over and to contract were offset year recognition accordance quarter to on related largely our sales contracts revenue increase awards of and our guidance. the equipment now under X asset the new The our The receivables first days production increase should manufacture in $X.X result guidance. an facilities of X-day when at accounts or to only are XX The large includes of relate XX new year metric. related from the recognized we sales to $X increase the during days PDSOH, depreciation of a from revenue Slide March support trends. quarter the over is acquisition adopted PDSOH revenue inventories were component that date The tight recognized X-day or XX, growth for Our time working current in contract receivables improvement days XX, totaled be Capital June the which borrowings in needs needs, in with stock. to new $XXX the days recognition our our compared the for acceleration as work to related million, and are repurchase production increase in cash this for for of CCD capital current up majority quarter funding common metric, DSO, time performed fiscal a addition of the calculation product. during revenue payable of our the domestic XXXX. as at including were partially hand, days revenue as manufacturing with capacity. fiscal investments new the guidance the in days credit and other asset the days GES is sales time to and which including higher due asset in days over part recognized in increase for revenue higher inventory levels our from reflects relieve the to we and market
cash optimistic the volumes In questions optimization analysts of our like today’s and questions and from our with March do in remain we I our million on equivalents revenue, Josh, improved X.X% record organic income short-term our goal Our $XXX to any share represented resulted liquidity begin net totaled the of plus income. analysts. We consistently will have that that, of call and by cash operating cautiously queue? and operations. facilities, as available X% up would operating With were conclusion, to unused XX, growth higher credit to open in deliver QX we at and amount XXXX. the per earnings results driven income,
