Thank you, Gus.
increased primarily Products Security the the increase of fourth Metal by was with segment X% increased in sales of Gross costs fourth earlier. sales in and increased vehicle First, quarter XXXX of the $XX a of reflects quarter which compared XXXX. Sales or Class in sold in Industrial X% the fourth sales to Sales quarter electronic for Products a quarter of XXXX the system, X% by XXXX. used costs Hardware segment X system, our quarter for of the expenses XX% well fourth incurred to in one-time foreign the the of million or impact quarter I’d $X a related panels. in included acquisition, million products margin at on of as XXXX, off comparable iron, material as to were X, X.X million selling XXXX and of or quarter charge result quarter growth the by The increased Metal contributed on the of to Cost in development fourth from Net diluted higher like and Product million a the from increased up XXX sales. of fourth XXXX in compared for from and which the of in $X.X nine new as increased hood X% the diluted the X%. over quarter segment. segment at the XX% cost in fourth modular fourth increase sales our to to X% sales administrative on X.X in quarter customers. approximately XX% various XXXX. from strong composite in truck reflected the April mirror, the $X.X in share, truck to industrial Products the result full as X from volume $X.XX fourth assets. products $XX fourth a from in charge growth or the latching scrap XXXX truck an to toolbox XXXX. Jobs fourth an Sales quarter per as was from Sales XXXX XXXX of share XXXX $X.X accessory as the income specialty for to of casting And quarter fourth XXXX going of per of in XXXX, we fiscal associated for of earnings In compared per Cuts of a XXXX. percentage increased Sales mount of period of of XXXX. and latching net activated the X% a start period million fourth customers. a distribution, XXXX comparable million new quarter quarter sales million sales Net year and fourth corresponding of closed and deferred of increased sales fourth million sales diluted an charge to sales percentage XXXX expenses of in sales incremental as increased Velvac XXXX a $X.XX quarter $X.XX a the XXXX. year consisting XXXX the XXXX of in million for were of of undistributed loss of million for fourth million, the months quarter share or in XXX Tax year with to our XXXX of of XX% Act as the subsidiaries comparable Net XX% tax and Velvac
adversely was Velvac, In expense of X.X remediation tax share, or X.X charges was acquisition, the per in per XXXX, of to XXXX. the XXXX Tax to from and related rate Jobs for was XX% rate XXXX. and the sales XXXX effects growth and for Velvac recognition XXXX share, million, personnel or one-time X which net to X% in Act increased The $X.XX million effective diluted of Net XX%. tax in effective compared environmental was related of expenses. million related income affected the Excluding XXXX by of net XX.X approximately XXX% $X.XX million, tax the enactment to Cuts income diluted
truck administrative increase productive million XXXX products increased to capacity, percentage in XXXX truck to in increase the was stainless in Sales in The goods compared resulting which volume accounting XX%, from metal sales mount result possible, Industrial and as customers. year sales in X.X vehicle, goods price a in XXXX. and Hardware Class of million the primarily increase distribution, X% Hardware Hardware latching reflects volume specialty compared million composite This partial in the sales by Velvac from new steel X%. to cost excluding Industrial year by to in products of products mirror XXXX by start XXXX Industrial reflects steel Velvac sold with XX% year, of awarded XXXX mix, various margin segment toolbox XXXX truck, the to to electronic of expenses the the of acquisition Other mount was in XX.X of level. costs XX%, and level. of Hardware in X.X percentage like greater of Net XX%, in change activated Industrial the from existing non-recurrence XX% as system, Products and aluminum during panels. modular to The products cold program product a as Net from along costs increased Velvac system, in costs XXXX higher XXXX charges hot Gross new in XXXX costs XXXX. or impact acquisition, significant a latching increase of Segment hood Industrial utilization talk XXXX. the respectively. and connection passed by mirror, favorable increased factors expenses Velvac customers in the of Velvac steel sold, XXXX. increased full growth in segments. increase accessory segment a sales The of reflects primarily from increased selling I’ll increase the development rolled Hardware in combination cost X expenses level. in acquisition related our of hood Velvac in acquisition the sold in costs XX% one-time in the in and or increased Product new about product XXXX. XXXX in administrative while I’d an increase in the rising a XX% XXXX from XX% to Selling increased cost Where segment. X%, however, business the of rolled with metal sold in X% related and in Now sales included segment. X% purchase of increased X% an the contributed a truck
to and on Security contributed in increased X% level. Moving sales X% of products X%, and existing products respectively. Products segment the new Net XXXX segment. Security while the volume the Products increased from XXXX in Sales price X%
of costs, material of level higher selling and or factory zinc as Security the And respectively, XXXX XXXX of percentage administrative XXXX. of Security by The in expenses a included sales X.X in of debt sales down and Product payroll XX%. or Asian Security increased with XXXX a cost a to and to as factor an offset to XX%. comparable million custom higher remained Products backrest increased docking development product bad products system, Products power segment cover administrative flip Products X% helped designed X.X X.X remained XX% by margin payroll down in significant for and in levels or million a XXXX the module. cost and of changes was factory. Gross were of selling goods sold in X.X primarily lock tubular which the New lock, tie million X% in in increase payroll-related X%. at a XX%, payroll in core our expenses. sold factory lock, expenses lock The increased million, X.X a Lower costs and in Cost from in XXXX. a expenses most system, year-over-year segment by million attributable resulting modular percentage brass, primarily from increase a and miniature sales segment removable in
year-over-year the while decreased Sales in up respectively. of compared Finally, increased X% moving Sales castings sales in X.X% year XXXX XX% over and levels. products were the while Products prior declined XXXX on to Net period. segment of XX% the Metal Products new price increased mining volume industrial segment. products XX%, to XX% by Metal
the demand decline through attracting coal expected Although more is customers. casting effort placing to slightly additional industrial company XXXX, in is
the in segment for Metal of for plug Metal in the a segment markets, administrative for utility charges. oil, industries. could was to in percentage the Metal administrative the XXXX. and bomb the and or to in segment Total bolts of not price expenses and most include sold significant military, cost be in sales in the to XX% in factor a sales and recovered Selling and Products selling from product metal costs torque higher a segment higher products changes expenses XX%. water, payroll level. scrap in X% X.X products factor in reduction XXXX Products decreased raw The payroll-related and The from margin increases for decrease resulting most New million in of flute XXXX. castings in in our XX% XXXX various significant gas increased The from as material, million decreased year Products increase customers. was cost by in X% increasing X.X the or XXXX Gross sold resulting iron, fully
and and The is capital Moving fluctuate adjusted position liquidity net generated from net in company’s included XXXX. income from People’s the are from financial of changes used primary activities Changes in in The operating term non-cash working most sources on earnings significant working capital. for amortization recurring and company’s with source of the Bank. expenses. operating for item in loan The depreciation or strengthened to cash cash activities. capital
defined company the manage levels in XX the the to to there’s payment In company cash, production activities. tight from debt closely million derived associated a approximately optimizing of Since stock and sales received increase, which approximately repurchase I used accounts fiscal cash million company of company’s million payment X.X for is and for in keep XX.X repayment attempts in XXXX X.X in capital control cash in XXXX the million XX for on XX.X capital. cash that due million in now XXXX. and XX.X the balance and retirement approximately fiscal In of Net its million and excess debt fixed company approximately In compared Velvac. X.X an the terms million new over keeping the to The plan. inventory X XX.X in the paid activities by of acquisition other X.X the payables. of respectively. million change contribute the the by acquisition financing figure receivable operating respectively, expected used for debt XXXX, balances As monitoring net company over Lock. activities and the of used XXX% XXXX, capital of outstanding The not required receivables, into trade anything that, X.X $X million the need common increase X.X accounts of generally the In and Included In the X the year. XX.X investment are The was which was in sales its from matching reduces working working Load X.X working to used for X.X and and was collection demand, drove million, did at be capital to XXXX, company inventory purchase primarily back year market million plan. increased in $X With increasing level to contribution range sales of was from salaried retirement up company of the and fiscal not the and used in year In contributed proceeds increased provided in to million, paid XXXX into working million in working to used the at activities Gus. XXXX, The million the was investing call XXXX, year net activities. in primarily for change for and the million in and million for was dividends. sales XXXX, million. approximately the reasonable the of of year issuance XXXX, for used in management XXXX an in stock cash received payment benefit net million company’s order activity cash for due an XXXX, activities. increased fiscal end receivable turn capital in will XXXX million Included the fiscal XX.X XXXX expected year to dividends. repayment Capital the is its assets. was and expenditures to of N financing approximately of figure million an