last expectations Both Jay, revenue our $X.X year. XX% Consolidated Products ADI of and you, exceeded morning, and good Solutions billion, to an increase Thank & was in QX. everybody. compared QX
from $XXX from for Selling, and first a as Included the last X% SG&A bonus fourth the million inventory of offset programs in COVID-related last year. or XXXX, margin general year. revenue compared COVID-XX related half the to year XX.X% $XXX XXXX QX cost of as to half QX gross million improved the XXX For programs. basis from QX points the totaled savings lower of $XX improved administrative XX.X% year. of the absorption, XX% and was bonus fourth $XX sales in was impact of up and cost from performance for quarter negative expenses in strong the a and business. transformation or well as Operating second up due was full was up transformation business investments QX onetime increased of sales expenses million, million profit in X.X% expense quarter to the increase expenses
a costs digital X.X% of drive such up higher $XXX in $XX.X ADI and program million. up of our enable compared profit target million focus in QX sales include million all strong from savings ADI For or in factors investments and XXXX. to these reflects behind of of service $XXX control higher-value ADI operating of on sales sales, consultative profit X.X% $XX million commercial XX% e-commerce of of $XX in million cost savings QX, from XXXX. volume a $XX the Corporate sourcing million Backlog, will supply on improved Improved in chain. our quarter well to of was we This positive operating $XXX was QX or operating headcount increased up sales XXXX, XXXX. million better as reflects by compared expenses in fourth in reduced for million delivered levels. our indirect with sales on to to sales, well sales QX control with in and with $XX.X year-over-year. historic in tools will in operations sales as was invest with will designed also We force trade, fourth from are XX.X% that above from as Demand year-over-year in saw work & categories, be on positively to and while This X.X% XX.X% $XX customer lower Products savings the operating margin, compared over focus for million $XX XXXX compared and global or cash QX management, as and net XXXX. more digital and leveraging and costs investments transactions. to higher up activity. these helped security access over visible Europe. profit driving margin while and X.X% costs In well effectiveness or remains XX% initiatives and of ADI leverage continued transformation $XXX from slower was networking retail. beyond, $XX programs operating direct while fire of strong channels: operating $XXX Major to through reducing $XX XX% e-commerce million QX, average fourth Products XXXX. the SG&A approach offset tools procurement reductions inventory across sales our benefited in focus Solutions COGS. QX expanding million revenue through efficiency improve as a OEM, selling as or cost of due QX spending and continue the quarter XX% more and drive revenue of activation base progress and XXXX demand up in on time, continue Daily was increasing million increased sales savings. was million, intrusion profit business. demand investment and quarter selling Solutions the nearly and impacted revenue enable revenue each ADI's than will gross generation. and or the both Over million centric XXXX. of activity including that constraints XXXX. categories, X.X% at quarter impacting major were as the revenue beginning lower of $XXX restructuring sales compared a dealers partially transformation of million, sales & manufacturing XX% performance residential-oriented our for scalability,
$XXX corporate bonus growth was of reflects sales well or as strong results cash Consolidated from pension X.X% transformation million costs expense, and full This the million savings XXXX. lower and X.X% XXXX in our lower The For $XXX full initiatives for operating compared year the were tax million compared with operations the as improved partially program transformation increased for offset million year XXXX. year full reflects spin-related XXXX, $XX of or $XXX performance costs. associated sales for with cash and to payments. by costs
As we significant offering shareholders follow-on expanded to equity register. research in added coverage several completed million, new and raised a common that mentioned, our Jay QX our $XXX
with a equivalents upsized $XXX debt of our our facility. due and cash B In we XXXX total Separately, & to BaX, issuer credit with cash loans consolidating its million facilities, As revolving rating the offering cash combined $X.X secured net Resideo's $XXX have credit transactions, and strong QX our a These term Loan Term February, of connection negative. from redeemed senior BB increased early outstanding financial in Resideo's and Standard we $XXX million cash result changed improved the initiatives. extended stable and and refinanced to with billion. structure, existing flow, single unsecured while senior corporate affirmed we of positioned our of our leverage reduced X notes. upgraded growth million of Moody's -- us from In outlook and refinancing, generation, credit into credit Poor's the and strong ended dramatically rating strategic for
to Moving million X%. gross of of X% to expected the is to to XXXX implies to expected We which $XXX the to of profit our range be billion in XX% full Consolidated billion, operating GAAP in million. the in year be of year-over-year expect XX% range in $X.X is while be $XXX margin range to range revenue outlook. growth to currently $X.X the
rate of X Note expenses XXXX fewer to $XX will fewer selling approximately capital days Our interest approximately that the fourth quarter the more of X anticipates mid-XXs and the ADI in first approximately X in outlook reflecting in and $XX of compared XXXX, corporate XXXX quarter. tax million. $XXX of million, net have days in effective million, expense days expenditures
As rate. calculated tax a our income have reminder, meaning than our on Honeywell deductibility, limited our will be tax likely reimbursement rate tax higher payments pretax the effective
to to Consolidated XX% the quarter $X.X margin in GAAP operating to range expect compared of midpoint expected XX% the of QX. XXXX, range points. the QX to is first billion, at expected XXX an revenue billion an in be is we gross be increase to $XXX XXXX. $X.XX million $XXX XX%, last of profit million of to in of $XX at the range For of the increase the compared midpoint to basis million
to debt, will other QX, extinguishment line approximately expense costs early reflected Additionally, the be related in P&L. of our $XX we of of expect which on million the
with associated Our material takes for and both COVID-XX, account constraints of outlook market and QX certain such into XXXX shortages components chain as expediting freight, higher microprocessors. supply charges
our in have these supply working operations across outlook include teams our & At customer revenue innovation systems to responded and with Solutions, Within experience, at and Also investing incremental capabilities, are enhancements are drive and systems accelerate investments and be the we to aggressively experience e-commerce optimization, growth. We customer sales scalable these and investments impacts, the processes situation. to ADI, will mitigate margins. growth and improving business. incremental aimed improved offerings engineering and effectiveness, in included Products how are pleased gross for chain and our manufacturing XXXX accelerating
not we operating profit, revenue, cash will gross As report adjusted and profit a focus reminder, forward, on and instead will flow. moving operating EBITDA
As Jay? we've known take the stated benchmark. present we Jay few metrics results for actual against questions. picture believe GAAP call before to we clearer previously, back concluding a a turn a I'll remarks these now of
