Michael J. Ferrantino
you and in Good earnings Linda. you, the shareholders interest thank and morning, our continued call our for your Thank quarter to attending for third company.
outlook. discuss third and to results strong XXXX pleased are our We quarter
control in frequency and engineered RF electronic subsystems and manufacturers timing reminder, a used including solutions, highly signals As electronic designs circuits. of and components the to MtronPTI
the with X a United India. global in are We States sites manufacturing and company
avionics, space. company's and primary and include industrial aerospace, commercial markets defense The
We year strength the for QX sales perform to continued fiscal the report company XXXX. financial in with pleased strong that to well continued and performance are
With drive to improved earnings been operating to by still investments development superior defense-related and to continue growth continue strategic be to orders. make help able have future performance, share. and revenues Our driven per produce we research in
and and believe exceed remain revenues that XXXX. expectations expect the will fiscal for earnings year We company strong to
following the quarter results. year reported were program XX.X% XXXX due $XX.X a QX third last revenue period fiscal solution the increase same revenues to for increased defense the primarily million, Total shipments. we strong Yesterday, year. The product and in period over
gross from were point Gross processes XXXX XX.X% in XX.X%, product higher-margin gross margins over by margin revenues, improved improvement improved higher efficiencies third The mix basis to driven improvement for the quarter margins an the products. our of XXX was QX and manufacturing XXXX. a investment of continued
XX.X% EBITDA diluted ending million per was months over of per over $X.X year the XX.X% $X.X $X.XX the XX, September per prior of was share increase QX share X of year's share. for fiscal income QX $X.XX XXXX. Adjusted adjusted or EBITDA the for XXXX, Net or increase million an
in increase has company other income in gross higher and development, accumulated more higher stock-based interest income as containment quarter, a compensation than was by offset margins continued cash. resulted driven taxes, strategic by higher and and investment expenses which of The the depreciation research before partially higher improved this operating
of from on XXXX. our focus and of reflects $XX.X Backlog the end million The prior one million XX, of at as period was large, the long-duration, of September in the program-centric year's impacts decrease potential compared $XX.X quarter as backlog business. to securing the strategy
reflects experienced the variability and timing can large orders. quarter-to-quarter sometimes be due materially program-based of to Backlog impacted
program to While funding, following has could that for timing year. we of expect year large difficult government a is the slip order the the end and current pinpoint before into received a
$XX had we during $XX shipments and up the the company in XX% million revenue will range. believe defense-related We to of momentum of $XX million. guidance XX% $XX exceed the raised in range the to achieve the XXXX now the the to of outlook acceleration in million and to previous and margin continued production still first sales million, EBITDA range XXXX, from With revised a half of revenue
as We continue on years. past maintain more execute systems current us into strategy to and be systems first-line to to program customers Defense continually new close they to move a seek an upgrades and for over our aerospace amazing for meet to with the program have been resource relationships design our needs. or several business. market plan them We government
industrial be avionics for can our businesses. said same and The
pushing the markets are warfare and do wins also electronic drones, a years. more and areas. radar the These design accumulating satellite in are depend for industry markets technology high-growth MtronPTI in and seek to into We on growing of in that types been leader has new and space business
components executing focus focused growth look our in RF or While continue is on organic subsystem the for markets. and as other as our space solution opportunities subsystem management team's well the strategy, same complementary acquisition companies on we to
allied And fellow engineered ever their the dedication for our of thank for partnership more to critical is before. nation supporting I highly Strengthening mission. thank U.S.-sourced, their defense in business capability to its and plays and providing we loyal by serving employees many their base employees programs. customers freedom. for our the U.S. would like role the and and our components MtronPTI our military company nation defend for industrial of to than employees defense continued important our a dedicated the and its U.S. of jobs, mission
Before as has defense served X and Cameron Officer open introduce October year. in Cameron? the to operator and in who has floor Chief and I joining MtronPTI. as Officer welcome this of involved adviser, team. him the consultant questions, Financial us an as technology Financial been I to sectors wanted earlier We to companies before the Cameron Pforr, Chief joined
