Dils, Paul assume Assistant Officer; Director Investor will Ebersold, will the Matthew of of role additional Chief Corporate Relations. role Treasurer; the Treasurer, of Tax and assume
Jim Graphics in the Lucky under the printing facility Xiamen, The plates technology Ltd China. in to demand which HuaGuang expand previously Kodak relationship deal sale an customer Kodak’s agreement of the offset September help market the and plates finalized HuaGuang fulfilled IP Company in Kodak supply to licenses a with a China, on its Republic As People’s the X, XXXX, agreement strategic included of mentioned, company China. establishment of its
a plan strength incorporation. U.S. to is Plates company HuaGuang’s the to transfers are its technology, stock common This accelerate restrict credits. and protections protection Taiwan together, transaction protective of conversion The certificate to XXXX, to preserve and in and to market and and tax deter Macau. the world-class China, which, these foreign complementary Hong of Process-Free benefits tax losses September of asset will SONORA order expected leverage of Kong, certain Kodak’s net of On amendment KODAK in the leadership the operating tax purpose the adopted adopted a company’s combined XX,
quarter is will now XX, of the November details on benefits and applicable further operational cash on third the full the expire and EBITDA ending significantly XXXX, nine-month when tax I tax the XX, will period September XXXX. losing protections company results, flow reduced. The share risk rules for under
results of FPD discontinued XXXX, of due XX, the the the sale division. September operations quarter XXXX for to as and year-to-date the and note the periods have reported comparable been Please third
Additionally, the have been and for certain due sale periods to reclassified transaction. amounts the requirements for current to held assets prior related year reporting HuaGuang
on our income quarter. was prior On net Slide to GAAP we third of year in for in loss basis release, as reported XXXX $X U.S. the of million quarter net X, compared million the $XX a earnings
September with net for $XXX compared loss nine the nine the XXXX. XXXX, months $X months million XX, of was For ending net September the XX, reported ended income million
Excluding workers’ Series Packaging on the adjustments sale of and me, excuse impact the $X million million, value from the $X Flexographic for of and the reserve fair related legal of compensation – changes the the net gain in Division $X derivatives net net of prior compared quarter stock convertible and in million was year million, embedded notes $X for A the quarter. loss income million third the in $X preferred to the of the of XXXX
year-to-date of loss non-cash million of was this $XX adjusted loss pension which prior million completing reflects to period, the compared non-recurring income a reduced $XX The XXXX costs in and for FPD primarily year the on sale. basis
Slide X. to Turning
unfavorable a year of reported the from and exchange quarter Adjusting million of transaction HuaGuang revenue decline quarter for compared $XX the prior of revenue million million XXXX, of the impact of quarter. million. prior $XXX to $XXX $XX by $XX the of in $X compared revenues we million license third foreign the for For year million, received declined to
compared to $XX million Operational the EBITDA quarter. year prior $X was quarter for in the million
of million. license received compared the September and revenues XXXX, the favorable for Excluding we $X from workers’ $XXX increase $XX million. revenue operational a $XXX adjusting impact decreased costs, XX, reported transaction EBITDA of foreign of and compensation by HuaGuang period year the the aluminum million prior exchange reserves, in million to in Through for decline
foreign for to $XX revenue million unfavorable of prior million impact period. HuaGuang year the compared the of and license Adjusting from by received $XX million, transaction revenue $XX the of declined exchange
period. $X Operational the period to million EBITDA for negative $X year-to-date a in the prior was million year compared
exchange aluminum EBITDA workers’ reserves, favorable costs, revenue and of the increase by the foreign compensation $X HuaGuang from impact Excluding in license transaction declined and adjusting the for million. received operational
performance engines. Process Free year-over-year revenue grew and volumes Plates by the SONORA by XX%, a strong On for We annuity year-to-date basis, growth delivered key our X%. for in PROSPER grew
growth in continue of and Materials. future to areas invest also ULTRASTREAM We Advanced
million held increase million on from performance associated and facility from third reported and of Moving in in when plates $X cash million, the XX, balance adjusted for Kodak’s for printing of $XXX XXXX offset in being assets XX, assets June December presented a the sale. company the to Xiamen, company’s China on X. with ended cash $XX XXXX, million Slide an quarter of cash decrease equivalents, $XXX The cash with
million ended $X increased million Cash, compared a a cash cash increased included period. the nine in year by $XX for and equivalents $XX sale of Restricted cash XXXX, by the the decrease and compared for months $XXX of million prior cash to XX, in million in year held restricted period. assets to prior September as decrease
year cash This restricted buyer. cash services products to and million is being which $X the provided and the periodically remaining of China. China the in cash the received to corresponding was by current FPD, includes company released a deposit buyer services secured by provided The of products the in prepayment restricted for U.S. in as are
impact the assets. the Additionally, to of of from million increase under FPD on China of in company the million relationship various strategic the to $XX ABL established agreements ongoing related obligations The the there was for also HuaGuang. with sale an escrow an $XX secure
in XX, $X flow. representing in million decrease improvement in decrease prior a was significant period, year $XXX The cash equivalents compared cash September million net of to net the cash and through XXXX,
reduce to around We the restricted evaluate world. positions continue to and to cash from cash our opportunities benefit
by million of by from earnings XX, generated balance nine $XX sheet in of XXXX, liabilities in used months partially used changes million, and the was ending For driven a change $XX million, primarily other capital operating from cash of September $X cash million. of including in a cash $XX decrease offset million, working activities $X net
and by million, million. million Accounts payable by inventory increased $XX $XX decreased by $XX receivable accounts increased
from expect continue Flexographic a $XXX to September proceeds improvement as sale transaction. use in by the year XXXX, working We investing the Packaging compared to of The activities the million HuaGuang was provided Cash ongoing the XX, current the Division in during period. $XX of period included year nine-month capital. and prior ended million
period. compared a repayment notes use financing of $XX $XXX in lien year-to-date Cash used $XXX $XXX activities full used credit was to year included of offset the the first issuance the million of of million cash million. the senior convertible secured in XXXX secured agreement, partially for term year by prior The current of the million
in with Finally, covenants our as our disclosed agreements. remain we compliance in Form under credit XX-Q,
your to of the questions. please Operator, call the questions. We remind open ask will a now instructions to participants
