Thanks, Andy, everyone. and good morning,
the progress into the Before for we control, control the what have I'd our thus quarterly we business the we highlight continued made get to can moment future. a like and results theme position strategically to to to far take
on growing AT&M of CMO and into portfolio, business vertical. allowing greater First, EMS we company the key areas folded we our restructured the and medical the Medical divesting focus business, the by core non-core us
shift. from new customer seeing are and the We this opportunities differentiation potential
market strategic all this that vertical have spaces sharpened of focus new fit attractive target Next, and our move, current capabilities. our we and consistent in with markets to three our
and drug off-highway solutions Some combinations in domain and in energy and assemblies these Medical. device equipment examples spaces include high-level Automotive, controllers Industrial, storage of in
adjusting and position as ongoing cost demand to has to been resources our future been levels. demand our business for in well actions stable softness. on serve to set more returns the the we've cost us where proactive side, Another of will the This market very
In sheet, flow. million and inventory $XXX significant positive by levels our over balance lowering addition, up shoring we've generating been cash
do. Finally, drive streamlining last announced But we business, necessary our will help intend we more powder well in to the to which this a discuss believe Tampa footprint of efficiency the position future. this dry night, series strategic manufacturing us manufacturing of which the growing our meaningfully from with of future Collectively, for for provide very the and perspective, will the a I'll both we will moment. move a strategic core invest closure in moves facility,
of Production Mexico facility the capacity to in programs difficult we the decision strategic As our newly the customer of night we footprint majority close a with global part transferred Tampa, announced facility Jasper activities and will objective the out last structure. on ago, mentioned Tampa that will made This work in I to by while us improve expanded operating leveraging sharpen as focus our the help competitiveness streamlining company. our our be to facility. of moment in to the of existing going the
in expect XXXX. we anticipate We operations to facility year, the the in fiscal end and QX Tampa of fiscal by close the cease of will
returning the forward stronger the growth profitable difficult shutting and customers, not is a imagine, to and a an appropriate an our did outlook preferences we company U.S. decision, that objective path location down considering you we lightly. performance. for and our of feel it's can manufacturing, But As take one of
ventilators thing a vital to employees the those acquisition team Throughout pandemic, supplying Reptron since Tampa in and of process, part their there accomplishments during the Kimball. we XXXX. for to The remain future. sharing need, to in this look contributions customers, and to grateful the in their we as for doing our come. Kimball community. played more appreciate the are a committed the our our strategy We in set as and to to people, We role These right up with forward quarters have actions bright suppliers unfolds the you our been designed local
market quarter, the controlling of another Now control challenging turning from navigating operating sustained with chapter to the environment while we can end first representing weakness. what stemming QX
with Our expectations, comparisons QX year. results last considering the line from a difficult were in record-setting
to in QX, adjust nearly X-year We periods, quarter America, posted costs, debt, year, the The sales. company was our North QX pay million, both verticals capital last were million decrease declines.
Starting in of continue and low.
Net the excluding XX% Automotive, modest a to of million, with partially to levels working the net which by perspective, end-of-life improve flow debt down an when to production. versus occurred Europe NPIs From result quarter dynamic $XXX a and from serve $XXX in and is each XX% softening, totaled first a timing a offset compared positive XX% due the quarter total overstocking, in reducing in decrease year-over-year $XX of in of sales AT&M down Asia. cash decline The generate volume increase and management, lower demand, three market the sales XX%. we end was decrease to
Tier in electronic system the longer OEM. the we learned they announced an program, no producing are a customer, As will braking working through a for be we X with our supplier, August, setback
the to the We supporting QX. as of production of are operating activities by and transfer expect end down wind necessary, conclude and
such, to Romania and positive program the this for customer a on we're due same this to note, As ramp-up quarter the in schedule On impact ending. new a launch with in revenue braking was QX. program of there no in
vertical that the We through industry-wide in levels sales inventory return to vehicle when the in supply expect the growth elevated exist burn chain.
decline compared the to a was quarter inventory. same the last total XX% in concentrated due by decrease heavily sales With declines volume year, Medical. XX% Asia, company. quarter net $XX first is to excess of and Next in the period driven in The million, of
both Additionally, and slightly. down North America Europe were
by vertical business we're on the sole care prospects the toward medical growth XXXX higher-level our market the forward, encouraged As we for launch we and We supplier final of assemblies the assembly and finished as largest our this HLA of in working selected are devices. with customer, respiratory focus recently were look medical program. and this fiscal
attractive devices, future about auto-injectors, in expertise discussions we're manufacturing in opportunities a selected area. encouraged is as Our very our and overall current drug and an customer this differentiator market, in such
$XX net sales predominantly control down Europe, sales and occurred demand public in weak internal in in total XX% and net down climate a Asia $XX Finally, North When from meters sales smart were excluding of Europe, XX%, of million, sales. products for decrease have safety The million, systems, were With Industrial, decline year-over-year. AT&M been company XX% which America with both of periods, and commoditizing. slightly.
We expect space.
I'll to to quarter call rebound turn on over from other to Jana for the and and Jana? detail return within more products, a the for growth the climate industrial on control in now outlook. coming sub-verticals opportunities insights the
