deflationary in and very prior line during overall an able were XXXX year implemented. Thank top quarter, multiple that the our against everyone. despite you, of Roger, We hello reduction we've industry environment grow and fourth our price strong quarter a to challenging
record of flow operating efforts, approximately million. a improvement of margin and $XXX,XXX continued a full out generated negative year gross cash XX.X%, full our year achieved we inventory to thanks write-off period margin of record despite Additionally, of $XX.X
stabilization essentially the [overseas] of during chain and disruption ocean supply and on the pandemic issues (ph) costs us, now supply are behind containment freight focusing chain the inventory the costs, With we eliminating built caused by period. operating
quarter During to number and of customers. accounts, and national product chain regional with added expanded contract new the we fourth existing a we offering
expecting are materialize We building and to the strong we agreements in continuing starting these top mid-XXXX, add new our line to pipelines. are our momentum and
In year the our down XXXX for revenue near term with be quarter the XX% period. were prior to compared first likely about
of second We to the are anticipating revenue again quarter. pick the end toward up
we single are be expecting growth revenue the For XXXX at the high to full digit year-over-year.
reminder, a for of were order volumes were during to unusually due sold year-over-year near half XXXX, during period As comparisons was first last most peak by level. which pricing shortages. high of supply time the year Also, impacted that inventories
growth see the quarter to environmentally and our the prior products. over grew XXXX. in demand continue This fourth quarters, strong We into friendly category remains solid XX% in year
for food in Taiwan, XXX% is progressing service state building the well. products joint manufacturing factory venture bagasse art Our composable of a
increase an that fill problem which be good continuing are would would a orders (ph) have. quite to [made] receive capacity We and quickly, to
in of resolved. construction been initial We have currently schedule plan which issue, because to now shipment However, of power is supply the begin expect second behind the quarter.
improving California, production management expanding inventory scaling long we we term in are number returns. our are and back in fill-rate and that modifying model higher our be Among more XXXX them, a provide products are strategies which while carry We import manufacturing will confident asset-light margins. implementing growth to of by solid
for end signed Chicago the space. facility square distribution to the and in a lease growth, on future working accommodate In in move new expect foot we by are we To XX,XXX our approximately increasing February, of distribution April.
the sign lease to Houston. also similar are distribution for size closer facility another We in in getting
we approximately adding space. XX% working the of warehouses new on rack by existing Additionally, are our expanding
targeting the size initiative, and of team in by of our As sales this are the do part East we approximately so, geographical we To XX%. expansion increasing Coast are Regions. Midwest
are upgrading teams. our online in e-commerce of support we process platform Lastly, expanding the and
As well, we are offering Hawaii. Canada in excited and sales to begin online
to opportunities. company cash we excess expect again We give this shareholders, back as to strategic consider operating will and generate continue returning continue scale look which strong for to capital flow to CapEx our year, growth the our to flexibility
over discuss I financial Chief to call our Officer Financial will results our Jian Guo, greater Jian. now turn to in the detail.
