Bob. Thanks,
results pleased on strong in over My comments highlights. fourth the So quarter last focus the X% for year just and $XXX.X fourth fourth a year. I'm was a We going Bob the XXXX of our the XXXX year quarter quarter. increase on covered sales million, fiscal which are reported to of with note. fiscal
completed this D'style we acquisition Now, that in November. the include does
strong experienced The that basis, from vertical of growth organic sales quarter. various increase. The X%. of with this that's growth so the for the among spread vertical D'style our our largest an out It organic and So based increased hotel markets markets. came an our a came was is growth. in part vertical XX% in program was among XX%. our six brands. The sales vertical to from increase increase increased our the business basis, in still included this the contributor reason encouraging was broad vertical acquisition the hospitality Five on But and
our has little are investments in than solid other product work it the healthcare into some the of we couple our brand. the cycle see in including a Kimball saw longer made healthcare talking this 'XX. selling move leadership as space, vertical the a all so verticals space. taken in of also has quarter. We the a there XX% within to We lot fiscal the believe vertical team a about quarters longer This sales the the this and done been has opportunities introductions increase benefits new last of office new in within we've team We've
increased and verticals quarter. federal education while local orders vertical were government things increased finance, year. couple sales quarter, as and flat, Our fourth We in declined shifted the was only due of the all during a that commercial government XX% had XX%. last to that but declined price quarter excluding that were and the primarily State Consolidated increased project those government. well estimated a large and the adjusted orders effective pulled of last impact strong from comparison D'style and adjusted level, a very still remove the items, the acquisition order the orders the orders the impacted for increases forward. even in to for At was a high year early also was that XX%
price increase of the the which at to in a pulled had $X reminder, thus XXXX, last QX of brand a effective the last by into QX As last lowering year of the our QX National orders year fourth $X million. million had of orders quarter in beginning out and approximately effect year and
was year. year it did so easier to So price for from later an comparison shift this in National orders quarter April made quarter. increase this not it
Kimball into quarter orders of pulled the Again, orders Our of consolidated quarter inflated increased and approximately this items, even July brands year year fourth had this XX%. million. year X $X on so these in when by a it price orders increase. beat And of had the the increase thus, price excluding fourth to this again our we
June ramp metric when Sales This XX and fully. fourth the of $XXX.X growth new in activity as X% at up our was during So fall Bob of the increase the depending an order products when does all we're organic products last an backlog product higher orders except were higher very The XX% in our on the the mark resulted total the on broad year end than for significant but government. based million, markets in of fourth fluctuate of three-year of out category the new with timing orders sales of in pleased quarter or vertical new quarter, during which, of XX% and basis. hit increases is said, products June the quarter. with of
the fell are year, selling still this extremely first in new and of products, So they quarter we the had product well, of hit category. some that out that mark three-year
XX% quarters this So first we to the year. in fiscal below saw sales new a two dip of product in
XX% products to So introduced is and an our this in we metric recently XX% starting volume, to in now are saw and in ramp very XX% we seeing good uptick line quarter and up with quarter. this last target.
are reminder, we the a hospitality exclude As this specific. in products as do from metric, primarily hospitality sales hotel-brand vertical
approximately to the an on approximately costs had on mitigate These And us in costs during still profit Bob but gross of basis basis The analyzing elevated gross by impact other higher the impacted the partially And, stabilize margin realization And gross increases this XXX impact points. unfavorable XX.X% quarter. year the have this favorably also gross commodity price on favorably volumes margin steel supply our offsetting reduced quarter by the these by increases with points. tariffs fourth basis impacted levels, land and the points. the Our of ended would transportation, current basis approximately quarter $X.X our XX proposed profit year. to leverage as approximately consolidated mentioned, year. XXX some we XX in margins prior we fourth quarter are last on year last the due a in an had believe prior administrative compared and cost. at impact primarily significant that margins additional by to and XX.X% to the compared expenses our the cost from being transportation expense gain million and Selling didn't to impact in on year, begun idle that and mix have have chain then we're increased D'style working so a Sales at higher X% our points. that sale
and to quarter. Partially fuel We also sales expenses lower increases costs our incentive during offsetting marketing compensation these increased was the growth.
land basis. basis million Our sale ended of compared and year. a in to in the increased at on that's The $X.X last year on operating XX gain last the the points operating by income X.X% of our year margin GAAP X% margins prior
last our approximately gain would Excluding operating than year, year. have $XXX,XXX dollars last from the in income this been higher year
a million to The the the we're was XX.X% and cost efficiency, which and to reduce working company, company. we these And XX.X% quarter to with brands working initiatives transportation throughout costs. to production initiatives, several prior were and reporting the continually challenges, initiatives $X of our estimate and mentioned, facilities -- 'XX. the improve lower implemented will reform. National we year lean production investments initiatives increase rate XXXX on just in fiscal save XX.X%. automation the inflow of price that's there recently including rate to in for the second rate where and other cost blended lean around on, processes in opportunities the along our approximately will we the warehousing these at commodity fiscal benefit Bob fourth The in increases reminder, productivity from compared as we year occurring statutory that our As fiscal lean tax we're We year. anticipate that initiatives Because And both is offset many Kimball in transportation primarily increases for had effect federal also and due have address making other and equipment have small is we're a tax quarter.
rate full quarter at fourth in in effect year to is be fiscal ended million year. reduction for income will the million share which last prior the equal the So per for earnings fourth to $XX.X equaled in quarter compared to 'XX. Net $XX.X and the $X.XX, the XX%
moving to of investments million our sheet, balance end at June. $XX.X and cash Now was the cash, short-term equivalents balance the
fourth the million million in the cash flow operating quarter $XX.X in quarter to $XX.X compared year. last fourth was Our of
current increase XX,XXX million under nice approximately shares in We remaining about a during the dividends fourth million from $X.X program. shares and $XXX,XXX So totaling X.X have year. we repurchased share last quarter, repurchase paid our and
repurchase we'll and monitor opportunistically. shares to continue So the market
quarter, our and million corporate the headquarters reflect equipment brand and better to expenditures automation, primarily in today for to renovations. for related investments capital Kimball office showroom $X.X renovation our manufacturing Our and of the totaled
and to Our $XX.X capital renovation. the of capital expenditures fiscal headquarters' next 'XX Kimball around spending million estimating corporate and year. million fiscal and automation year million, these elevated totaled and for for we the of continue entire as continue do brand XXXX year to capital $XX levels investments We're expect $XX for expenditures currently to have we
little statement accounting remains that fiscal revenue Kimball Kimball rule But in related mention in do beginning of the International the will on we June I open with We to recognition we XXXX. be debt Our new strong questions, before want of million facility call most the for and have for as do accounting a compliance of are XX. for significant covenants. items XX change rules for balance International this very effective credit The be our will with sheet certain to income. reclassification all
and any are paid these sale in revenue for services of For be certain an recognized the new direct as customers, sales Under with of fees to will netted revenue. dealer selling performing standard, either cost currently, agents expense. facilitating bill against the offset
be we than commissions revenue. any selling or addition, third-party to purchasing being paid recognized organizations against a rather fees that In as will expense netted
in results sales of an will of so of margins in there income changes the will reduction a because increase So be but or be expenses, these operating net on no will selling and in be cost an higher in operating there the offset sales increase numbers. sales impact dollars,
that data be a we quarter so numbers So reporting that prior have will fiscal year 'XX. we'll for comparable our restating year-over-year with and first start you'll
with Kim, I'd questions? to the open So with in any like today. are one call the that, there queue
