continues our Thanks, Steve, team and [indiscernible]. and execute quarter fourth discuss year us all fiscal results. for to thank DRS to you today XXXX The joining
drove year Before our our to people focus shareholders. talented of our contributions and steadfast we express my another performance, for into get for the appreciation strong to and details that genuine our customers want their I significant
cash margin steady mid-teens delivered growth, organic we healthy free adjusted record expansion EBITDA generation. revenue In bookings, and flow XXXX,
a contract broad-based customer to the secured throughout of book-to-bill of the fourth the The awards demand, in year. ratio Our and billion quarter bookings both business robust which translated level X.X for over year. reflected $X the was saw
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up we We incremental invest as to avenues are investment future growth. committed XXXX stepping long-term and R&D to both unlock in of CapEx
And in sensing enabling Some of AI Carolina. these and our investments CapEx application course, our new standpoint, of facility capabilities, processing. a the the include modalities, energy quantum of of expansion from and sensing directed South and Charleston,
million Additionally, of in cash line we adjusted conversion approximately generated targeted of with net $XXX XX% our flow, earnings. of free
coupled a into and continued Our multiyear and achieving record expansion crisp our into execution in with in margin total $X.X visibility growth driving provides Day Investor targets. backlog XXXX billion XXXX
Moving to some comments on the macro backdrop.
look the globe, the threat elevated. environment As remains we across
as modernizing We focus and The global pressure capabilities building as and remains existing expect upward continuing steady investment. platforms. the on next-generation as well need test defense allied to apply U.S. imperative determine threats on strategic and to
brought in administration operating are technology. best-in-class an new We dynamic a and on The environment. efficiency focus innovation, has speed, more emphatic
has manner earned all enjoys exceptional growth-focused DRS company. critical customers. with quality DRS capabilities for and that an Furthermore, a reliability as advanced a themes. deliver across our evident rapidly to affordable is defense positioned DRS consistently differentiated a market inception, for position been our of demonstrated and This innovation. technology these well in cutting-edge Since It capacity is agility has its reputation through our
budget volatility. Our buffers diverse platform portfolio which is intentionally designed agnostic, be from to us
and at the national leg nation's key nuclear modernization XX% of in program Columbia is Class deterrents top revenue is effort. a a priority approximately largest our and
enduring missions sensing counter management, to solutions to the propulsion, secure combat and defense UAS multidomain is multimodal short-range communications, air and balance computing the ranging and power for network to systems advanced electric from Beyond next-generation control. of mission aligned and portfolio fire
The domain that and technology expertise. line have depth incredible is bottom we
know, predicated customers and technology is and on our delivering manner. critical to an mission that solutions are their entire business executing you As effective in model our successfully integrated
that to ability customers. exceed consistently meet trusted scale, operational allied Our a to produce the defense stringent us technologies most and and at makes partner requirements U.S.
mix this already fixed-price and for administration contracts, fixed to price you that new toward a greater I shift has some significantly considering With time. want remind skews our
result, returns risk understanding a managing manner how rigorous shareholders. a to generating in capability have affordable customers we As appropriate for and innovative while an of to deliver
continuously optimize excellence. to execution steadfast We XXXX, identifying that on in And are enterprise-wide are also performance. focus and we driving maintaining improvements
in their initiatives. the key forward new as and understanding look gaining a the clarity months, of the to better into priorities as Additionally, we deeper coming finer well administration's details
future provide emphasize to capabilities edge. to leveraging want commitments, a growth I for years, have market-leading that been XX our our our for innovating we delivering decisive and on over customers
Our electric propulsion aligned protection backlog DRS and steady computing, is to and critical technologies differentiated enduring and portfolio and power sensing, force advanced us across provide of stream network well our bookings defense growing that priorities. of confidence
performance solid. short, In fundamentals to be for expect another DRS. our are strong XXXX of I year
entire Our portfolio. the remains success evident throughout
accomplishments on some Let notable XXXX. me observations expand operational exiting our technical and with
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those UAS applications. utilized we were mission as well sensing selected on strategic more Additionally, provide counter programs infrared to as missile several for including
programs presence has as diverse the that recent our on such content several an Patriot expansion wins are missile of It's and missile in domain. worth [indiscernible]. [indiscernible], these DRS noting
capabilities It expanded in and our to healthy defense it Moving and enable remains electronic counter-UAS, most into on-the-move off-the-shelf demand. customer demand. commercial warfare our radios compelling solutions met interest and tactical as also protection. of short-range radar business. enjoy with X continues software-defined vehicle the exceptional to active air Furthermore, were
From sensing the ability AI pleased and standpoint, open architecture cooling to edge. network at Also, continue computing a progress utilize advanced and leverages to to processing modularity, that we next-generation standards, the tactical performing network Army expansion announce that modernize the we control. a able and logical computing fire our Again, of to begin offering. its [indiscernible] contract on a complementary to were very help
in to of we our million that prime course secure I'm Moving Carolina HII our and facility. Navy more industrial XXXX, report utilized new electric Charleston, This funding the Dynamics. able equip capabilities from and will than to namely and base General our propulsion pleased industrial-based customers, and our business. South expand be of commitments to to power over $XX the funding submarine were
capacity investments integration design, systems. the our capabilities the and turbine of strengthen Specifically, steam in manufacture, will and test
XXXX. Additionally, we the continue targeted completion facility toward to make by solid progress
rationale are power of building to the growth efficiently that and a reminder, Columbia for part more a platforms. execute opportunity this These Class program see propulsion critical but next-generation future As was our for facility the also platforms business. capacity the we create long-term electric expanding in
further While bolster recent out, our continue to strategy. data these points platforms remain
from reality. systems. regular well Current to for that design These on requirements focused the of moving deployment next-generation systems combat a XX to as of modularity megawatts as is platform DDG(X) power as concept combat advanced well are modernization accommodate as call approach design for generation
direct For architecture. systems, shipboard to communications other which power we and it a addressed directed energy requirements Navy future effectively or is recently only power sensing tested and the surface based expect the combatant most by energy example, propulsion combat be electric increase, weapon. Whether
to force protection. Shifting
and working and integrated and field undergoing term. we UAS strong We air solutions tests in that energy demand performance, directed enabler in demonstration counter-UAS our by continues to and system look a short-range this defense. The we counter with integrator are closely are our is system to to the operationalize key currently distinct Moreover, customers seeing of the forward Army. for the international and the capability medium show
capabilities on progressing result, close ability allies. As the to these a focused we to export are
Speaking years an of fourth growth threat catalyze XX% for to and demonstrates view elevated the which our percentage international, modernization, push of XXXX. for to The come. as rise business. of This continues increased remarkable in environment coming lasting marks year international consecutive revenue urgent year-over-year from we to global saw customers international capability we
particularly the sensing but growth technologies. and network computing see across our We portfolio, opportunities continue clear multi-domain to international entire for
made leadership also leading is announce as our that land an [indiscernible] most course to Senior Bill incredible company, impact the have and has DRS pleased efforts. international his Development, I'm our the in of a appointed including, leading expansion he the service we Business number our Bill of business. front, years throughout Vice roles On at President recently, electronics XX of over at of
succeed and has domestically been have him Senior as customer drive Denny to General Manager new at nearly With role, and markets, expertise for of Vice and computing to closely working core our XX role, years, adjacent in domain new both and we to business. intimacy DRS of the his I [indiscernible] deep has him Land both new and network look sharpen in positioning Bill competitive ground market. President the Electronics to forward Denny our with in growth business In a promoted internationally.
commitment reflect promotions and Furthermore, DRS driving These enabling our success proposition employee retention employee to at rates. our culture in resident development. record incredible the and and strong are hiring leadership competitive depth also our and exemplify of steadfast talent
approach. In shift we capital toward more our a release, Now capital strategy. allocation to a a discussion deployment balanced on our earnings announced press
that dividend sheet M&A. program generation priority which our value-additive Let strategy cash capital me a to growth, M&A. value a organically return steady both for and our said, our modest creation strong driving enable and cash us reiterate supplement share through on focused buyback, a commence remains will of That our comprised and balance
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that first authorized program next of plan. expected to designed employee the years. announcing issued program. early the are the month to is stock over share totaling dilutive is buyback under an company's The and company's next It mitigate We has shares authorization commence million also $XX impact is the X Board the
a to that provided turn to ours. these complex It's our in deter challenging the talented meet our call contest continues needs. to technological like Before sophisticated increasingly to customers' Mike, DRS me stating the ability to global I environment. my enable that companies conclude and threats operate our people threat over strategy Foundational competitive is nation remarks and edge our country's by our let by most
review our capability Our our as recent flow customers' for and margin innovation to generation. value on success over and our shareholders through focus performance drive steady and remains cash outlook. as financial to to driving growth, XXXX enable well Mike, you expansion
