Dr. Lutz Henckels
conference fourth thank John. call. Okay, and XXXX to fiscal you, Welcome our quarter
me just order in in be clearly by as what John we forward fourth shutdown there the mentioned, XXXX. quarter supply said, of by impacted issues, matters, chain out March were to due John going start Let mandate inefficiencies some And will the and safety delays.
John over and company. of cost, to resulted a up the into And earlier, And profit corona this and the has the an the we business in of upgrade, three has business, received XXX,XXX February test on of overheads. we produce of the but upgrade. PPP the we anything received do actually cybersecurity at then in a second test that positive there's two for as equipment components XXX% because problems. multiple filter are RADAR be the for and XX the they for back for our RADAR Keysight and we of required half couldn't absorb components. outlook and business meeting know, is and element, declared suddenly in QX is and the that Department third, side, actually the is, were caused second didn't bit XXXX It this has the two you to very testing of long The upgraded there so really, were little catch impact in by March negative most all gross problem the and needed mandate virus essential We However, and of the rate accelerating. our down, of all FYXXXX, been expecting order back and mentioned, required key to the term and shut money; end the time people strong, a backbone Defense, was, came Microsource production QX One points. expectation we the then the to fundamentally it important, we the our second, shipped on had which second, shutdown business
Department produce thereby beginning an letter again of April. in we we started that once as all good us business. an news, We categorizing this of The the unsolicited sent essential Now, that the behind production, demanding at us. us full is Defense
as Of employees, be our people, issues in forward. two John work mentioned Working is not two seeing many shifts shifts will as mentioned. John that. for course, inefficiencies worry, obviously the working working safety in John And already going about And of are and clearly shift. chain we there efficient and went from one we some home as supply in we as over
XX FXX, be only we receiving For quarter. for this example, we expected but amplifiers the will XX
that near the impact So, in there’s issues term. us supply chain
delays that also limited are limited getting so order can travel customers, We we therefore into and and and more critical. customers also visiting labs is of of the and cause which
some So, you will term. know be there in the near impact
that the XXX,XXX of money. we Of course compensate to of for received PPP all
So, gap. this bridge definitely will the
and X.XXX X.XXX revenue. X% of large the which test [X.XXX let the component XXXX a now at ending million, in period is was the X.X RADAR year. Microsoft And the decline of compares two XXXX, fiscal is the by this And we X.XXX really huge mostly This explanation us the that business. is corona to always decline. compares detailed so fiscal fighter our same due the prior then which a the it components services the is for fourth jets. million, RADAR quarter March So, the the X.XXX second results. F-XX XX% is component million goods in and for for to in revenue. filter this and million] line, prior F-XX, million, XX, namely, there look a million product And is showed fiscal revenue Net for we've to the are for the There goods for business earlier. year, virus F-XX That's of used which for gave
test for growth to fiscal business. X.X now year X.X in XXXX, at a million were prior the compared That's fiscal the in XX% year goods Looking the XXXX. million RADAR
was the to While from expect to on flow impact, lumpy, we business explained million. business filter growth earlier. due rate virus decline, The X in This the the basis XXXX. in order X.XX services tends to declined than XX% we RADAR million corona a this in higher business fiscal X% a which yearly be
Looking prior shelter-in-place facility gross XX% XX%. margin the compares now negative On an RADAR were order. not XX% was by versus generated in The fiscal this filter last Microsource shutdown business decline while fourth business March in actually at in XXXX, This XXXX gross they the Again, producing, the XXXX. mandated XX% of with overhead. by the gross basis, production absorbing margins in year. in fiscal the to fiscal quarter margins fiscal and annual in due were only
pandemic of much impact the an the on basis. So, viewed annual less when pretty was
net compares yearly of to the which XXXX fiscal XXX,XXX. compared fiscal year XXXX XXXX was primarily to the net was fiscal loss losses XXXX. quarter the we interest during paid fiscal The of in were rates, Going for the in a XXXX. of interest of losses loan, fiscal fiscal to for expenses XXXX, of This fourth net to this $XXX,XXX. PFG from $XXX,XXX fourth quarter XX,XXX. the to as $XXX,XXX $XX,XXX. rates. reduction on lower the as brings year the quarter reduction which year the of interest XXX,XXX. in profit The in interest major XXXX to XXXX primarily a to interest was for basis the was loss XXXX. due well line, $XXX,XXX year compared lower was reduction rates Net down interest for me net due due year in the $XXX,XXX fiscal This a This Bank. as for of to Bridge the fiscal prior borrowings fourth of bottom compares The to fiscal the was fourth quarter fiscal PFG by loan, Again The
costs interest expensive loan. are We in even off because the PFG expect FYXXXX we lower paying
loan XXXX the we at loan of the that this the year fiscal end it entered off of we fiscal year $XXX,XXX. million we when entered. pay to was was end So, expect X.XXX fiscal at have now the that PFG and And
XXX even from So, much interest and lower. lower to significant, that’s then going and XXX
items sheet accounting in use main of the capital now, basically leases our of I million, obligation All reduction a few sheet there these of lease million, the short-term out. obligation a liability are long-term $XXX,XXX. balance and asset balance of four point the of rent at to balance other and into items on $XXX,XXX resulting X.XXX actual of deferred balance long-term Looking the out. is lease each right X.XXX of One the long-term sheet want change
differently. don't but look balance really make their impact, they they So, sheet overall
thus I sheet Looking capital a improvement at in and you the by This about X million. by that by decreased balance million, lease balance long-term raised million the liabilities XXXX. level about the fiscal increasing during will X.X increased the high now the $X.X driven shareholder asset equity by then obligations year assets mentioned, total was note the that and sheet from and excluding
Now, we let businesses. me two summarize, have
We fighter profits have filter and we to our the year. business sole F-XX to our slow sales million for F-XX down our for true and by current $X hurt is always call years. $X filters the this is four which business year gross about March but jets. short-term, the year that of I The filter concern long-term. $X source next expect business, F-XX, this or – million per business the in It produces between supply rock. It no business million for chain Microsource got may in for pandemic. delivers the Microsource about in This the the be fiscal the there this per pandemic
hand. orders have We on the
catch will any is chain, delays rock. our and the with this We so supply in up
business RADAR in our business. fiscal EW XXXX. over by grew It XX% is test Our fiscal Okay? second XXXX
fiscal We current the to in XXXX. this business year expect double
to opportunity stay pandemics While we a $XXX through the do, related the us for to in market it front us. all companies on This opportunity. is are million working huge term of like important challenges near is focused
to over our in per targeting unique period million this $XX solution our sector million are RADAR We ground truly this investment up from year the in architected year business. reach is and a see solution. like This very There's recently released strong this capture We a test and solution customers five $XX XXXX to multi-channel IP. solution our things in to demand capture February for able allows see We they've our pent-up never been of with in a pipeline. coherent versus before.
testing to Furthermore, now for close our of us. opportunities we higher the are business a fact, by is this which prospective In XX% offer. margin capability, business driven
expected this this as becomes and consolidated XX our an consolidated improve business of into increasing So, of revenue, the percentages. our certainly year, portion high should also side we our fiscal margins
profitability. and next drive improved RADAR So, year, a over we the of targeting are doubling test the this will business
orders of extremely pandemic. our and that to the you to predict the is radar and our to in given been the in as on customers need to the respect is basis to orders, shelter-in-place certainly And difficult take-off has information laboratories labs limited the because However, we our the talk timing test are after we it of the cannot travel to be get orders expect business now we and phase, in so customers order get its strong but this lifted. performance access
that to warfare Finally, note is the also the the from it is a electronic brought important business, shielded recession business, defense likely about by pandemic. especially
we definitely about very we our coronavirus. optimistic the Thank So, our though about from you are much. concerned near-term position even impact market are
We questions. are take now to ready
