morning everyone. good you, and Thank Boris
quarter sales increased added the Our as reported of products XX% due second million. net contribution to an as increase sales commercial $XX well PowerA, which of in
XX%, conditions. helped market improving by rose steadily sales comparable Our
based net quarter Adjusted share. on adjusted better $XX million per than was much $XX was our income was Second higher EPS sales. income $X.XX, net million $X.XX and or outlook,
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adjusted XX% in XX%. RA year rate full sales estimate Our of our tax approximately line of rose with XX%. was
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expect seasonally December expense value met. if as in profit over of in in from years, any PowerA two for fair we strong are back quarter, a equal console to strong as orders and continue installments We second the income demand earn-out payable recognize Each statement. the manufacturers sales half holidays. our of is PowerA the earn-out targets normal The X because an next and fill certain change their the
earn-out throughout We the X-year quarterly period. expect charges
to expense slight a contributed the a booked amortization adjusted related EPS. $X related in to to along the million contribution from we which earn-out, million acquisition resulted PowerA. of quarter, PowerA with only $X $X.XX operating This the
sales Comparable our X% due let’s to strength rose of largely result turn contribution segment increased details the of to a from in some North commercial in products. office PowerA. XX%, Net America as results. sales Now,
America back-to-school as year to the products We last year. from they sell-in inventory customers expected, last $X for margin and than less and increased $X significantly inventory the result second higher still third fourth with costs quarter possibly reserves. operating million last lower in used replenishment sales, than of expect also quarter of As back-to-school be the less season as year’s a come held and restructuring to operating income quarter. was expense million North in higher
result levels. rose to as significantly of economic the to comparable EMEA. Net million rose are well strong million, sales increases a which recovery turn let’s share $XXX sales as XXXX general and gains. $XXX to were both above The market Now,
in a $XX We due higher higher logistics. versus a primarily of sales, strong normalized particularly now posted quarters loss to year, last seen from million offset EMEA profit $X operating costs, business have X which improvement million EMEA. expenses and the
significantly be to improvement impacted and continue Moving demand by to all in vaccination comparable Brazil rates although have as net and increased. Mexico are of because higher increased COVID-XX, International seeing sales segment, sales the we countries.
impacted. less much are Chile and Asia Zealand, New Australia, in businesses Our
As improved inventory lower of reserves, a an last $X of a loss were million of million debt helped lower also restructuring $X operating bad segment reserves costs. posted $X sales, profit million versus Results result of $X by this of and million lower million adjusted of year. $X
approximately Year-to-date, We CapEx and of and million million free used the $XX million move million we approximately million. $XX cash grew free Let’s our outflow. quarter, in of sheet and of operating paid CapEx of cash activities operating net from now and net used $XX We activities and million million. in dividends flow. second used had cash was to $X approximately million $X paid cash balance from we dividends outflow. $XX $X In cash $XX
$XX by Our year year cash last lower use of million. was this than
million $XX you was If PowerA, exclude it better.
we be noted to debt. year free have fund to of the As use for reduce dividend before, will and our this flow cash planned
revolving $XXX Our facility. remaining had we quarter CapEx credit is $XX our outlook At than million for million $XXX on less million. end, XXXX
in on $XX We cash million had also hand.
expected pro earnings. bank leverage stronger net to than which X.Xx, our ratio better improved due we to Our forma is
of We we to to third provide have Therefore, are to guidance full outlook. year enhancing rest quarter Now, let’s visibility our turn now greater and our both year. a the outlook. the
is expected least more returning hybrid in second with at companies continue mode. to especially year, Our a half to offices, last with to demand improve compared
be to and good especially a and products second for continue Kensington exchange expect PowerA. of the We benefit. strong foreign half Likewise, a is seasonally back-to-school sell-off should
Our is outlook to to sales third the $XXX range of $XXX be million. quarter for in million
a in Third to be $X.XX. of quarter adjusted to $X.XX EPS is expected range
values definition EPS. $X.XX a third on approximately based pretax impact amortization cost and to the to in mainly quarter, intangible Most the bottom outlook our sales earnings, not third $XX of adjusted offset quarter our on inflation hit on expect will which in margins the to will of of approximately incremental of we exchange The the excluded in impact anticipate inventory third the pressure which be an due includes additional $X.XX the price fourth until will second foreign on X% second in increases affect inflation, and quarter. third the EPS million adjusted quarter. of quarter line operating on Compared results basis. much quarter, adjusted We the favorable represents quarter
our from benefit is The guidance. fourth seasonality. quarter typical its due PowerA to strong also All sales of baked into this incrementally will business
where for For EPS billion. to of And with is of to $X.XX the be full achieve be we our and translates our $X.XX it EPS. The of foreign sales of sales full year mainly $XXX to free leverage of $X range or a $X.XX. goal year favorable $XXX year, a EBITDA PowerA. outlook at to our billion in cash before outlook exchange to adjusted This on was impact is year-end, the of lower adjusted expected in the use expected flow to X% million. similar range million $X.XX debt, range X.Xx Full expect includes to purchased adjusted we reduce on to in to
for of our full expect at in to which million be adjusted year operating year approximately deliver to deliver cash a we is on million programs amortization The $XX flow We basis. $XX exclusion the normal million in for be second $XXX type at in we the strong less That approximately $XXX cash confident been an seasonally year generate CapEx equates has full we We $X.XX productivity half. expect feel occurrence performance expense with million, that full EPS our least approximately expected free $XX savings. can million pre-tax estimated to the $XXX regular in of to flow will cash half. flow. and, generate That than means in second least million, will
Operator? Now, happy and questions. where let’s your Q&A, to be I move on will take Boris to
