Rob. Thanks,
like continue the a outbreak’s impacts on Due ongoing coronavirus suppliers our while to COVID-XX we we to actions would concerning resources term our customers, are a our with prudently and our with Company, I near, longer executing customers the keeping brief industries commentary comprehensive set to effect First, to manage mid require. provide products they Company. the supplied outbreak, serve, its uncertain on and the the the of
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chain. exclusively almost our not North is base American, supply seen have in disruptions our As supply we yet
to Due of on governments, actions situation our the COVID-XX to situation of the of rapidly and the by the operations. the various are inherent customers evolving including the taken we uncertainty unprecedented unable future impact duration the and full determine
the to business. our progress have we Now, I made will with shift
Boldly fulfilling Fabricating, the first vision months beliefs in joining my six that we earnings that formed I Back at in hiring Unique call. are first confirm our week since I outlined Track on the Company process my In my the during
all we to made in improve passionate the and all what in do of organization overall foundation I places to the Boldly we everything to pride of instill and improving necessary at Back duplicative involves do, on Track culture the underway. is the have enable we forward a and now challenge changes a process, dramatic our carefully eliminating every a the We expenses momentum culture. or wasteful work. and revitalizing This looking
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We and continue forth. to Board actions undertaken the team have direction full support the management set for and
to November spoke Since Georgia Louisville, facilities. Evansville, and with I final the facility’s last of closure our Indiana we in of end of completed Kentucky moves with you and our as production the XXXX, LaFayette,
We XXXX. our in March by manufacturing facility closure to the Ohio the have been end at operations down complete of winding Bryan, and expect
We and the in to Bryan have facility production our Mexico operations moved from Georgia.
recognized As and in year. zero related we facility’s Evansville, last to of million a during compared $X.X an of result activities, The quarter the $X.X payments another of our period charges Indiana charge of XXXX lease costs. closure to fourth corresponding various million incurred restructuring other million from future these the $X.X
anticipate $X.X do closure. We additional million for of Ohio restructuring Bryan, quarter of finalize plant to in million first We Bryan plant incurred the severance in also our cost an the charges XXXX $X.X one-time closure.
Evansville approximately The for warehouse which we for one building through includes real with of facility XXXX under November are the owned lease payments $X.X and to operations one sale estate related million. future lease of listed that is
the to facilities. and We assist subleasing have firm the sale the engaged a third-party of with
align expected our decisions are closures first quarter and better the these approximately customer provide capacity annualized these to demand of with XXXX. are ramping While savings, costs plant from up $X.X never easy, million
including resources human organization, From simplified the the level. we and executive realigned perspective, a
resources value a quickly respond create Our this effort of to business organization conditions. market the better optimize eliminate were ultimately and agile and layers changing that reduce needs customer to, can more goals in redundancies; to first, to position third, second, management; to
eliminated additional we quarter the salaried positions. During of an fourth XXXX, XX
the committed during the our As part and XXXX, leadership U.S. Canada XX incorporates investment first a associates which of in our development comprehensive program half to we locations. of team, across
industry of and both Tom Resources, extensive Yaldo quarter the of Lisa Charnley, new added of Purchasing, first with directors During experience. functional XXXX, we Human and
facilitate Director this promotion quarter, to second for activities Stokes Engineering, of our commercial internal critical Board also our of area Tyler very the We Director the In position, will IT. and an to new we business. bringing on be Materials made of
As remains to next search in filling remain license leadership asset. CFO position interim continue CFO key the the completing period, executive a I active continued. our role where has team, CPA step that the serve and in In experience my an
increase heavy medical growth, the and gains, market the to a continued development, aspect ambitious new through aerospace November our share the expansion targets, product markets. revenues have and and revenue With truck, outlined return of meeting critical approach to of in materials we the
business. sales over decisions closures we as where years, to well last was the awarded We or the plant decontented have customer from impacts as overcome the two not new on programs, for the product successor were negative our
we diverse materials our During advantages the manufacturing in strengthening diverse and geographical very have the communicating with last active processes our including relationships customer footprint, base, months, flexibility. been our competitive clearly while
We confirmed few locations in on limited, technological years have that material sufficient over share suppliers serve, with significant grow our the increased processes. to enhancements have in value the that expenditures our organically. remain we confirmed automation, capacity market largest of one the and targeted We grow to opportunities for for improved focused we and markets we next manufacturing us added capital utilization, our exists scrap our revenue reducing increased
business soon to the realignment longer of be additions We a grow our manager strategic to in completed our supplier as further Mexico on Mexico support the organization, the term refocusing develop of senior relationships. commercial Director offerings as and Board, and and including well of Material sales to enhance Engineering, our product to
existing among additions will these in others our create that confident and unique the are truck, our medical We in us enable while heavy and aerospace. markets, expanding communicate selling points to
customer to aspects of we facilitate the our quarter implementation our of relationship tool, During management commercial first activities. all of initiated force, sales XXXX, our
targeted In with suppliers. addition, pursuing raw leading technical we material are actively collaborations
effectively and processing been rapidly support in and the During requests products masks areas, and other to shields we've to healthcare protective last week, medical able multiple face items. value-added manufacture for among the and
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and water are a in leading the components provider we of automotive, fabricated industries. heater HVAC Beyond non-metallic appliance,
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activities business opportunities in believe to also this have customer there are and we this we our market, support segment. in refocused As many grow engineering
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functional improvement to Independent of next performance substantial the are each the locations comprehensive generate we of have plans impact developed that for income savings, detailed, over areas our plant positive closure quarters. and expected operating
opportunities across in capacity, underutilized costs extract and overall previous the from of reducing best practice the synergies improving on enterprise. acquisitions capitalizing to knowledge filling now manufacturing sharing are processes, We logistics areas
levels our several of another we debt are lever As condition. executing key while our improving reduce performance, financial improving operational activities overall to high-cost
on Back Boldly Track. is truly Fabricating Unique Today,
new our and and are and winning and flow our our empowered, business, are improving employees happy. reducing customers debt We are cash profitability engaged while
overview I our financial will results. now provide an fourth quarter of
the our quarter impact you our profitability. a As from results, can meaningful reduction are see fourth efforts cost on having
For charges the fourth of income inclusive quarter, net restructuring
compared our despite improve the the $X.X our of is loss in XXXX. to lower direct net actions quarter operations, debt. took was we a and of cost $X.X improvement result of This a million, to reduce carrying overhead of cost decisive structure, the sales fourth million lower
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three sales $X.X to decrease of same quarter for for did during product included cancellations, million, Company the down the The million end-of-life major platform win customers or of $XX.X period program Net loss the eliminating year. decreased plus the related $XX.X on several business $X.X a not change, XX, million the last the the sales XXXX where December to the platform. or net made platforms, ended million successor from XX.X% Company's customer
conditioning sales also Fort discontinued customers. Arkansas Smith, We to and million $X.X general air and million in industry from and closures of loss a of Indiana loss production Evansville, net a a the with volumes $X.X due sales in combination experienced decline several a work major plant
million $XX.X net the fourth was XX% industrial was the of automotive for the and Of represented total, in X% sales other quarter, X%.
sales Gross loss $X.X profit sales partially was the net contribution to in XX.X% revenues XX.X% XXXX net the of corresponding the and decrease offset cost. was million, fourth resulting million, to primarily and period by in the or year. of $X.X last other array profit related gross of quarter for reduced The for or decline margin, of compared of structural
The net Selling, reductions in of for labor quarter XXXX closures. commissions XX.X% of the combination or general XX.X% cost to addition $X.X benefits, in decrease administrative and a to fourth of the services of from fourth is and XXXX. for quarter sales expenses net compared quarter were of the professional for management, plant savings the and including -- SG&A million, million, or $X.X sales
of of of year, which various corresponding fourth previously XXXX compared included expenses lower in restructuring the contribution from sales. the reductions the income sales, million $X.X for The and with to period zero lost expenses. Operating decline the restructuring outlined the $X.X $X.X for margin million last million quarter offset $X.X the inclusive was cost million
of million the rate $X.X $X.X interest was compared debt the quarter impact last to was expense fourth levels the the to primarily due for of million Interest fourth XXXX of and year-over-year for quarter decrease year. The swap. total the lower
restructuring in of primarily sales. diluted basic per net for the cost million, in loss to fourth alignment a due X.X or impact expenses, activities, was million, income the of the basic offsetting the comprehensive lower $X including $X.X The income was quarter XXXX. for share and $X.X quarter to Net net $X.XX fourth organizational and compared of diluted or improvement share million reduction XXXX the and in net of
in compared multiple XXXX. million quarter for of EBITDA that was million This the fourth fourth Adjusted the activities is in began the of $X.X accelerated XXXX to quarter. cost result early the and reduction fourth increase in of quarter XXXX $X.X the
of few the by we business. since you targets the a over month measure joining more specificity next look which with outline and you While know spoke to getting do the will forward greater as I with and the Company, of I we to manage activities
last about likewise create in through significant great have remain excited continuing by a we many I I'm opportunity participating As organization, maximize accomplished looking the Unique energized the shareholder deal can growth, and and develop are highly confirm to six in shareholder the Fabricating. value at being Unique profitable I success in that employees our of share our to Fabricating, ownership. forward a months,
all create We Back Track. on Fabricating, state a be to something can have proud. I confidently unique Boldly that which can opportunity Unique Inc. of we is
open With questions. the that, will we for call Operator?
