and Jim, filed afternoon. good XX, and Today with Thanks, Form XX-Q the the June company XXXX quarter the for its ended Commission. Securities Exchange
this I read its recommend in always, you entirety. As filing
The the net were As to million of our its of the Division transaction second the Flexographic the completed sale Jim use Proceeds repay first term company mentioned, $XXX Packaging in debt. from outstanding lien quarter.
million of of closing XXXX Management. the its approximately full of amount of term on due issuance, notes closed funds to convertible company $XXX convertible first company lean the and the of managed notes issuance Concurrent with in secured repaid the debt. the principal Additionally, the by Asset million remaining $XX area November sale in Southeastern
tax of credits. losses of losses deter company's a adoption company common a U.S. net stock and the the in stock the the the XXXX, transfers notes, XXth connection preliminary information U.S. issuance certain asset order of benefits tax preserve protection adoption filed restrict transfers net foreign credits to foreign protective new certain the to of the July a of of order benefit On and company's operating amendment and convertible the statement to to tax and sale common in in of with tax tax operating preserve plan
strategic earlier in Graphics this In the People's China. Huaguang as of Limited growth transaction week, accelerate This designed a is form mentioned Republic Company we Jim the our signed free and an agreement relationship Lucky of in Kodak to place to addition, China. with process
China market to will of the go to solutions. sales that volumes growing current alongside with Kodak full the portfolio of its maintain structure ramp continue expectation SONORA in will Kodak
close quarter We of customary details Form expect of our this XXXX XX-Q. in third conditions. in on the to satisfaction disclosed are deal the subject to Further closing
FTD operations XXth second XXXX the been the and on I will results, the the Please the the have periods of year-to-date first details due the as XXXX. and EBITDA comparable flow June results for and discontinued and now second operational company's quarter of cash of share XXXX further reported to quarter half note sale for division.
second earnings a $XXX our U.S. in $X compared we net of quarter million quarter. as five, the million plus the on income for release, income in year prior to basis GAAP net XXXX slide reported of On
net XX, months $XX six XX, the $XXX a the the XXXX, June six of income million for ending For loss June million was reported compared months with ended net XXXX.
XXXX of Packaging net of quarter. notes. loss in a embedded the A million to Excluding the $X fair compared million changes in the sale the for business gain related $X derivatives impact of Series the net second million the from and of for The and on value the the convertible loss the Flexographic stock in preferred $XXX was quarter prior
of for loss this of completing the $XX FPD year-to-date compared The basis period, reduced million on was in year primarily to prior the non-cash pension non-recurring reflects a sale. $XX loss which million income costs XXXX and
impact by year X%. in negative Operational the a EBITDA of a X%. Turning declined $X second a quarter currency we million. EBITDA of million, slide a $X the On for the basis, six, revenues for year by to $XXX excluding quarter to revenue $XXX decline operational the quarter prior the negative to aluminum costs, of for favorable compared $X quarter, XXXX was million compared million declined reported constant of in prior million
have Foreign exchange operational EBITDA. not did on impact an
of year prior was of prior compared million we a For declined $XX on Operational this the X%. year $XXX currency to in $X negative for million a the compared decline a for the period. million million, EBITDA basis revenues period negative in by first period X% half of $XXX XXXX, reported revenue constant to a
Excluding the favorable operational $X impact of EBITDA costs, improved by aluminum X%. or million
an impact have operational. exchange on not Foreign did
We grew XXXX. continued performance by by for second to XX% the our X% and in in deliver Process a key the and annuity and period SONORA Plates and grew XX% PROSPER quarter June year-to-date year-over-year growth engines. ended strong On XX, basis, revenue Free respectively XX%
compared which Plates' year The to products PROSPER volume full XX% annuities over grew X% of year by the profitable these on XXXX year growth a and basis. during SONORA accelerated percent by grew has
We future to areas continue growth and Materials. in of invest ULTRASTREAM also Advanced
$XXX the second XX, presented in equivalents, quarter with of The and on cash company Moving slide seven. on a performance December to from million company cash the million $XX XXXX. ended decrease cash
equivalents use date cash The of a million the to period. cash at in Restricted cash year increased $X cash, arrive includes million year a by to current $XX restricted and of services prepayment million received $XX the a by of sale and the secured FPD was cash in from of in which cash products China. U.S. deposit transition services restricted and for corresponding
to of on $X restricted as in also of ABL next FPD million will be the services products There buyer services to from related This provided the in are the over XX and assets. restricted was increase China cash impact sale an released months. and the transition cash
the of Limited. third to cash Graphics restricted expect of the we HuaGuang increase forward, with XXXX quarter the completion with in Company Lucky Looking transaction
to reduce evaluate We benefit positions the from our and continue to cash to around opportunities cash restricted world.
XX, activities capital million, and offset liabilities used a $XX $XX million, driven net million. of cash the in million, earnings primarily by use $XX For of from cash in of generated changes ending June including of X other cash XXXX balance a partially $X operating was months sheet from change by working $XX decrease million in
million $X and by $XX by $XX decreased increased million. inventory increased payable million, accounts accounts capital, receivable working Within by
ongoing to XXXX. remainder in the for working expect We improvement continue capital of
accounts decrease year in proceeds the prior use investing in year manufacturing division. of half to Oklahoma in The of This capital million XXXX as the Cash completed year Weatherford, a the of of which in included for as the the million expenditures first Packaging Graphic from expenditures the was with expansion capital prior majority Flexo Division. sale a compared provided by year. $XXX the the compared of component current to period. included activities $XX The sold prior packaging for packaging and
$XXX was cash a $X Cash use repayment issuance lien secured partially for term agreement, period. million financing of of to million used credit of included in convertible year notes the first $XXX $XXX the in prior compared full first of of the the of the secured by The current in year senior XXXX million. million the offset activities used half
we in will now under disclosed to turn agreements. back Jim. as the Form in our credit XX-Q, with Finally, covenants remain compliance I discussion our
