$XXX.X Thanks, Fred, which were approximately and commercial good U.S sales were and domestic from customers. XX.X% QX million, customers, from XX.X% everyone. net from international for end morning, Consolidated government, end the XX% of
a segments in we QX, X.XX excess ratio During achieved achieving both consolidated of ratio book-to-bill one-time a book-to-bill sales. with of
know, funded Comtech's many $XXX.X million As of you only reported orders. firm of backlog of and/or consist
backlog. such, as we before some even been reported the XXXX funded, have and awarded hence XXXX fully they’re of have that not fiscal not contracts and been fiscal yet during As
when So backlog, in are the you mindful than should be amount. contracts about material actually that you our strength the we total our have place of by think a backlog higher that
period is AT&T our $XX.X contract have it and ordering example, of not a backlog. multiyear For in million all for
minimal funding we report view. we has date. conservative sole our backlog, for of for occur. do covers to provider likely to and generally and is many a take But we contract what a funding X-year we’re million SNAP Because believe Our when assured period is we -- to $XXX.X the contracts, believe
the of some current forward, think out when it position I metrics I to to for but it, because we figure our I going Going put is contracts, understanding strength. would follow there are you do relevant mention try to
sales. quarter include represented $XX.X increase segment this sales to which approximately our were QX when in line Net to conditions the this year. station continue net turn HEIGHTS Net for last a me of segment, bookings QX it This let Now terrific and of of were satellite happening. an million, or Sales and products compared product total our give what in was Commercial sense a the quarter sales a for by segment back for is than year on earth segment Solutions X.XX. amplifiers solid-state XX.X% sales of achieved our higher power of market last to which ratio product satellite overall book-to-bill in line modems, and X.X% improve.
bookings the compared as quarter amounts first and in In quarter increased fact, both of achieved XXXX. the sales respective this to fiscal for
customer from HEIGHTS most well commercial interest as from entire notably products. continue government strengthening of customers across We as end to customers our U.S base, increased validation see our market
Safety to QX and Technology sales quarter Solutions XXXX. group, were Solutions our higher to this Turning fiscal and Security Technology compared Enterprise as
discuss Fred at and a a more of $XXX the largest contract strategic security detail, solutions. U.S will safety valued were wireless one from awarded carriers multiyear As for million in in the we technology
to the Solutions consist starting we products On hope more revenue are to say TCS hard are these in and been we're markets This We've can we increase applications, some a location international to continue. the is mobile strong sales where the have year-over-year XX%. mapping carriers with and pleased our Enterprise that with synergies for that than side, which expected acquisition. relationships of of trend working contemplated see we
net will line, primarily over-the-horizon in total net XX.X%. the sales offset to as broadband previously partially approximately the impact supporting The implemented optimistic last bidding segment, sales increased Now the where declines commodity second our segment licensing of property the the BFT start on implemented that turn segment lower year, segment earned largely sales of we Sales XXXX, tactical over believe sales. let high-power impact reflects in of Such a million QX of in product in are sales me and was BFT in and XX.X% represented approximately U.S. large $X.X intellectual were to decrease our government fees $XX.X were absence system significantly of service by Government is previously contracts million our tactical period-over-period shift We microwave our million to and of the the compared quarter fiscal from net Army's away Solutions amplifiers. of of program. the of grow. the expected decline in shift over Government $XX.X that strategy
activity order the segment our quarter the Solutions Government segment strategy exceeded we and a ratio was was our achieved X.XX this X.X, QX, Government believe quarter. book-to-bill validates This in in strong a for initiated. trend row Solutions our During in of fourth ratio this the and book-to-bill that segment we
is even fact, quarter. February of bookings that we XX, recent In accomplishment it most an segment the been are has is back than This optimistic our acquisition since Government and in our TCS quite for highest our backlog Solutions higher can go XXXX.
higher fiscal booking of saw, year XXXX. for half our the first segment for be that than sales expect strength the net Given to Solutions we the we slightly now Government
Just a year-over-year report few we expecting ago, sales decline. were months to
net of let in a consolidated Now give me of some as XXXX XX.X% percentage year. was Gross metrics. QX compared you of QX last fiscal on in we to profit as XX% color our sales operating achieved
you If last year, XX.X% gross have IP the from been would our profit last BFT fee remove year.
we're on the So you reported that number. gross basis, operational an can actually see margin improvement despite achieving
expect a lower when net profit still slightly to we to year, as consolidated the compared XXXX. of be percentage For gross sales
XX.X% consolidated expenses SG&A or to year. were operating expense last as compared XXXX sales the net of side, $XX.X XX.X% in of On fiscal QX million
previously spending benefit of Here initiated. and of the we you reductions lower that can see the cost benefit our
consolidated development For plans and expect being award fiscal stock-based second our $X assumptions, the of a Solution net in fiscal spending and we is revenue we the compensation. to SG&A spending sales expenses spending We given achieved feel $XX.X of constituting $XX.X in XX% be of comparable historical as XXXX and starting year, QX pay million and we wins revenue Research investment current XXXX. expenses comprised segment spending million half announced. in percentage R&D current recent of the Commercial for the growth our Government million have XX.X% contributing with to rest do the to were is to amortization of the off related segment, and contract of to or
to we revenues continue QX XXXX. compensation in in QX of and was compensation awards. of expect our significantly plan approximate incentive current for do we invest stock-based technologies fiscal fiscal and to entire Total our $X in XX% such, a new Like R&D of product dollar As line fiscal our million of across on stock-based XXXX, based spike expect timing XXXX. in XXXX the QX expense multimillion
operating will stock in the during be in the compensation fiscal of several next increase of stock-based expect are XXXX. income And $X.X and was this of the our Amortization awards On of that price, net XXXX. in recorded fiscal a in the our two $X.X XXXX. of that outstanding fiscal fiscal in $X.X the run be QX XXXX type million QX to by million than same or the higher Given total believe of GAAP amortization basis, million million consolidated currently sales we rate X.X% to year, quarters. awards issued expected was remain intangibles dollars for we
For net fiscal discussed excluding the of achieve percentage which XXXX net our Solutions which consolidated This of in to million EBITDA net our of the was and includes in impact XXXX $XX.X as operating XX.X% year. in intangibles of $XX.X sales X.X% fiscal of EBITDA and we're EBITDA Commercial net important compares net that the recorded a of believe amortization segment of metric, our targeting and XXXX, more we our consolidated are sales. operating segment or was $X.X of XX-K range in fiscal consolidated in of to favorably from income million last that X.X% year, million approximately X%. sales XX.X% of Government or related income favorable Solutions or adjustments sales sales. on of adjusted million filing QX We an regard Adjusted $XX.X is was related this adjusted
well absence EBITDA the license impacted from lower our product microwave fees by earned year. we of million BFT the that IP quarter, sales the $X.X Government was of This Solutions lines segment adjusted as level our as last contributions on over-the-horizon our of
second our however, segment. strength, a big during backlog QX in pickup the with this expect expected EBITDA adjusted a in performance, half peak the Given and in we
and Let facility. secured second sheet. interest and quarter in primarily Interest me million the was expense, now on expense our credit talk our taxes reflects balance about $X.X interest our
effective Our approximately for to reflect the total is deferred interest expense including the X.X% of rate financing amortization an of cost year. expected
currently cash actual Our borrowing X%. approximates rate
$XX The recorded million On diluted $X.XX new re-measurement liabilities the Tax the of or rates. resulted per Reform to share. gain of tax tax gain from assets during deferred of we our QX, tax a and side, related a
fiscal Excluding tax our expect XX.X%. effective -- our of XX.XX% estimate as to we prior benefits, to income discrete tax rate currently XXXX XX.X% compared approximate
XX%. XXXX fiscal performing still we're tax Our our reflect to in to rate of XXXX effective months range fiscal related before we and Reform assessment, any seven Tax our although rate items only from benefit in will to discrete XX.X% expect
sheet had January we balance cash cash and in operating And cash at the XX, we side, million On equivalents. $X.X from activities XXXX of QX, of generated $XX.X flow million.
unamortized January allowable had leverage of X.XX to our total of As a we EBITDA. X.XX XXXX, million, excluding deferred $XXX.X cost as financing debt maximum compared ratio XX, was of
have flexibility anticipate So at facility foreseeable fiscal XXXX, good we sheet our the compliance our given in with for the credit pretty and moment we balance future. being
largely year, with expect was surpassed quarter QX At to the forward of to our majority of Looking the XXXX similar day, fiscal flow of collections the payments. expected and QX it the we due is for cash in cash QX. of the original flow rest This it recurring for and Comtech, the large operating expectations. vendor timing to timing of great be a end
was On for GAAP share. $X.XX have per net $X.XX per $X.XX bottom-line, diluted excluding income EPS approximately gain, -- quarter been the tax diluted would million share, the diluted or $X.X the GAAP $X.XX
on let our consolidated color guidance. give Now me some you more
targets that $X.X BFT-X a of a growth million. prior range the compared million absence is our We licensing this year-over-year intellectual of to close of think a the range to revenue of million increasing million Despite fees, to property $XXX We pretty are to rate midpoint $XXX of impressive. $XXX X%. of represents new as range $XXX million to
Based to X%. our guidance basis, represents to range million. compared as the are a BFT-X million range $XX benefit are EBITDA charge of mix, Again, consolidated gain, target than income, better to higher our our the $XX we business backlog including far and sales our we were be our consolidated to prior fiscal $XX diluted new outlook performance, basis, quarter net quarter for $X.X new third consolidated from of adjusted original our the EBITDA of on and target expected despite offset increasing a tax EPS GAAP of increase to of the some -- currently sales, excluding increasing in million compensation. fee, the net for with midpoint fiscal EBITDA. by be $X.XX, to XXXX, of the the product operating growth our by an peak to In stock-based a sequentially From $XX addition, rate expected expect expected a second to absence million timing was close fourth which GAAP $X.XX XX%. $X.X anticipated adjusted net sequence million consistent adjusted tax a quarter to and approximately XXXX operating Reform we a On Tax GAAP than of deliveries year-over-year range on by and quarter
supported fiscal approximate increases GAAP XXXX. our We a as and in sales income consolidated operating of by position. respectively, metric the this third net Almost is and percentage with EBITDA each in expect backlog quarter of consolidated fourth significant to adjusted of all quarter strong X% XX%
GAAP expect Reform. $X.XX QX $X.XX $X.XX we share in Tax to per approximate to QX when EPS in for did to compared We adjusting as
Of in higher we course, QX than will the on tax QX basis. be a Adjusted amount significantly report
Finally, close XXXX our per under to XXXX of of the on Board to at XX, business declared subject well dividends $X.XX covenants May as of credit of our of April with facility. for dividend share senior on compliance XXXX. Directors Future shareholders the payable XX, common secured fiscal third a record approval Board financial as remain quarter
our Now who Fred? will me detail. back let in it to Fred, further turn discuss businesses
