and Tom, good you, Thank afternoon.
results, Before are I compared that not FY 'XX has 'XX QX. the company made to go QX, mention improvements through significant even it's to 'XX though QX important presenting financial from the FY FY we
million continue of operating Sales to increased $X.XX $XXX,XXX. $X.X X.X% Gross a keep substantial went or from are to margin continuing. XX.X%. income make to loss to XX.X%, loss strive changes from and million this These we to improvements, went profit and of trend
XX, period was compared 'XX was XX% for or as to prior the of prior same revenue million are approximately government or the U.S. million Revenue compared The fiscal million year. fiscal $X satellite to million programs components The $X.X X XX% revenue consolidated ended the period of $XX.X follows: January and $XX.X of same months in of commercial the year.
Revenue recognized of on only are satellite completion segment. primarily under the percentage in the payload contracts York are and FEI-New recorded method
the the fiscal for for and same FEI-Zyfer the U.S. non-space fiscal of York $X million in to $X.X segments, consolidated to year. the in compared which approximately prior from compared were customers, period FEI-New both year recorded government Revenues DOD XX% XX% and revenue accounted million are and of prior
'XX $XXX,XXX the the timing X and $XXX,XXX for in were the ended to of mainly commercial to year. phases revenue months production in products satellite for market. in approximately compared was The Other revenue approximately various XX, prior industrial decrease due the the fiscal January
the versus higher and gross increased current-year due and development in the For 'XX, prior-year was XX, with in gross gross in months rate associated compared period. to the the year fiscal the rate the period The margin phase same as to increase production in January costs margin X during phase programs period margin 'XX. ended engineering margin gross
months X of January consolidated SG&A XX, ended revenues. XX%, and approximately and respectively, 'XX the were For expenses XX% 'XX,
XX, and to continues announced ending reduction. decrease to the months X costs as to 'XX the going decrease for looking compared forward. payroll additional associated in company expense prior-year workforce in related due monitor The period SG&A for previously cost-effective The January expenses to was a reductions, largely
January R&D XX, X% of X the a for expense were months approximately $XXX,XXX, consolidated X for decreased to $XXX,XXX months decrease and million respectively, January the of from approximately ended approximately 'XX, and $X.X revenue. 'XX, ending X%, XX,
months continue X its to R&D 'XX challenges the art. to the related the of for The the in at are decreased in products company production 'XX to future phase. resolution technical fiscal XX, now to that in ending invest year keep state R&D projects plans January are to of
'XX, XX, the of of 'XX, the increased and increased $XXX,XXX instituted. of the year. of X October changes the January combination to loss an recorded in XX, months months in over effects the ending $XXX,XXX margin compared increase operating approximately prior income approximately due a ending management gross income company For X has to sales Operating operating
Other holdings primarily income investment derived from consists company's marketable securities. the activity of
fiscal liquidated 'XX, a as the of approximately pretax loss $XXX,XXX January This to the X pretax loss ending months a its loss result, an yields and During approximately recognized. there holdings for the company year. XX, was $XXX,XXX a prior compared
loss securities the of pretax the would holdings loss, the of important result been and is company's mention, pretax to It and marketable the income. have as liquidation a associated
provision an compared January fiscal for X per period months share net loss ending months loss $X.XX approximately per X same $X,XXX the previous XX, net $X,XXX January $XXX,XXX 'XX, in to the the year. ending the of year. the or for was or XX, company to the approximately $X.XX fiscal recorded For of share compared Consolidated prior 'XX, a $XXX,XXX tax
compared year of 'XX. to end 'XX, was approximately for previous the $XX XX, million at $XX backlog January fully-funded April Our fiscal million the ending
quarter company [$XX In than years. the seen addition, second levels the in which in is consecutive backlog this million], is hasn't greater
quarters. additional significant year, contract into expect and coming While awards this we of some backlog to of revenue added will out backlog to come be turn in the thus this
to $XX working of a strong balance position approximately and the capital company's at sheet of reflect million XX, January The approximately 'XX ratio current continues X.X:X.
debt-free. company's the Additionally,
needs to months and is and its your adequate for future. company operating will forward XX investing that its I turn questions. we meet Tom, to next liquidity look The back the foreseeable to the call the believes
