Thanks, Don.
within During portal. slide Or my the the you the tab. which on Don Investor mentioned, be comments, follow I the to if website our Events webcast along Relations via Presentations listening webcast, advancing will deck the you’re slides be and can can by on found referring
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for rate effective and the and significantly in fiscal higher well XX% The inflated allowance credit fourth prior adjustments prior tax impacted The state by The effective tax as corporate approximately tax $XXX,XXX and to quarter of related current year Jobs valuation fourth result Act, credits. of tax effective both rate In federal U.S. XX%. higher was related or U.S. Cuts adjustments tax tax our current tax reform, rate was R&D quarter as federal largely rate a adjustments. the blended the state was XXXX and the year tax Tax to XX%. recorded the year quarter credits approximately quarter, rate an was favorably year year
X net trend. our Slide income reflects adjusted
year this of $X.X lawsuits. the of fourth income share from This and Cash $X.XX net $X.X year per to action of in to the after-tax June quarter in fiscal of reform. GAAP at the up $X.XX cash received a $X.XX for is $X.X GAAP in class for ago income net impact income we the and after adjustments tax which earnings adjusted the $XX.X impact The last after for fiscal $X.X diluted fourth adjusted fiscal came in adjusting EPS fourth million reform. at net of XXXX related of were the quarter equivalents tax million income adjusting year $X.X of ended non-GAAP up the Our income year, XXXX. net net million XX, million quarter compares adjusted and million, from had excluded proceeds of XXXX, and of million. reported at GAAP quarter same from Diluted
are Slide XX. trends shown on Operating cash flow
activities income decrease operating inventories provided was than in flow as provided a non-cash a net cash the $XX.X accounts decrease fourth items million in cash during Our and year current more by offset quarter plus our payable. by
prior the in fourth provided operating year was by $XX.X flow – in quarter quarter the Our cash million. activities fourth
days buffer cash the Our tight material XX, ended to when levels in for the appropriate months in largely compared stock an prior XXXX, in days related increase same to XX to environment. the maintain raw period current increased conversion inventories supply year X June the
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over and Also time was be the acceleration in in our recognized revenue conversion of days for offset the receivables and revenue days a as new contract or accordance of period is recognition metric. from addition PDSOH a year the compared reduction with same in are the asset The to sales under asset now DSO recognized new is should primarily days inventory work the with revenue cash the revenue majority The our this over in in the guidance. of revenue guidance. time increase time recognized to increase date X-day inventory days X-day the contributing relate our payable relieved and The a the contracts contract over fiscal and year increase days to the as product. manufacture performed to new when ago are we accounts days reduction metric a outstanding,
funding year $XXX to depreciation as our trends. cash manufacturing and fourth quarter capital June increase domestic facilities stock June for short-term and including and current capital liquidity largely credit related in is cash June million equipment new and increase million million our of of our to $X.X needs, Capital repurchases the investments part related the equivalents were amount unused from The GES in Slide million, facilities, cash during to plus represented XXXX, common acquisition other our borrowings totaled Borrowings large credit support XXXX. for working XX, in production further at reflects awards. XX the XX, XXXX. on needs available, XX, which were the $XXX totaled capacity at $X on up to
analysts. to we and we up hard continue goals. In queue? have today’s on like to also conclusion, open strong, our questions our and with would is I are the call in operating return position margin solid Mel, achieve while to in driving With growth capital invested financial that, to excellent do from trend analysts any questions condition the
