right. Thanks, Jay. All
provide -- our going the I'm in right. some details minutes, but of I would all few financial right, XXXX performance next All to first in quarter the
Now highlight sales, we're to of we a quarter minute to new provides press includes eight which forward. EBITDA. gross include release, key a to and added profit, margin cited four metrics take going chart data historical going It let me -- XX-month trailing and each quarters the earlier, and gross
affected to by might So a given timing our shipments, temporarily we momentum. chain could know supply and individual these reporting can that there chart this because I include outside fluctuations, Any these add cycle wanted customer are quarters disrupt during factors issues. of be
XXXX Nortech Those items impairment items. press nonrecurring our also sale loan they in from are listed items excluded gain gross EBITDA. and and and on a nonrecurring forgiveness, release, reported goodwill adjusted profit, PPP other our are and in numerous gross and including XXXX, margin leaseback,
time, a turnaround from QX ago. profit also million, was gross was that quarter EBITDA charts dramatic million, million. $X.X margin show of our gross LTM was revenue LTM was years The and At our $X XXXX, negative two X.X% $XX lowest in
of $XX is just XX.X% EBITDA is and XXXX, $XXX gross is million, $X.X million. million, metric. XX now healthier our gross finances every margin ended March revenue the on Nortech's For months are profit is
performance. financial right, All to gears switching this quarter's
as prior particularly revenue the performance revenue As pleased strong quarterly was prior we're key Jay a this quarter's made comes growth year progress year noted, period. nearly Again, comparable. areas with up continues on the and momentum with year-over-year from on XX% several
basis backlog solid saw XXX levels, net also gross and in and of year-over-year growth We margin expansion year-over-year income sustainable EBITDA. points
line the I mentioned $XX.X increase on XXXX In prior the of a and million was $XX.X quarter, as revenue totaled with earlier. -- quarter, is of million. our in sorry, This in XXXX first quarter XX.X% revenue
growth in medical The our revenue categories. industrial driven by quarter was first and
$XXX,XXX year. category million or up XXXX was with products. In the the in revenue the was And the quarter, industrial the from from coming the the X% XX% prior medical increase first medical quarter, compared as to majority or $X.X in first market of up component
margin Our in compared quarterly XX.X% XX.X% of $X gross million a profit gross or or quarter. prior million year profit to totaled the gross $X.X
a of First million and totaled $X.X $X.X increase flat expenses from operating operating quarter the a sequential on expenses quarter basis. XX% million, first
administrative the general Net $XXX,XXX QX in net During totaled by costs from $X.XX of XXXX. in investments or systems. $X.XX of diluted driven QX, IT or increased up $XXX,XXX income by diluted share in income quarter, primarily and per $XXX,XXX HR share per and
I employee also do our news have add about credit good to retention payments.
of the first and have payments results. we the in payment in $X.X we deferred receive in report March million we our And ERC. did on So December, tax our we'll X, on a pleased May sheet, XXXX, receivable did on XX, million, to did that payroll that of at are balance report QX second so arrive IRS inflow that, net cash $X.X payment
the million cash prior statement. Moving period. of cash on quarter to in In provided balance year sheet the the compared of first to operating activities by the million flow XXXX, $X.X and the was rest $X.X
decreases the million, quarter, challenges. global flow. to capital down increased in million quarter prior less the from operating positive $XX.X During working pressure shipments cash declined to in chain drove supply to to to due due $XX.X Inventory levels respond
credit of the availability prior totaled relatively cash March flat Bank prior quarter million Receivables ended borrowings on $X.X $X.X $X.X million, of to on flat $XX quarter. million $XX our XXXX the of America. line quarter. to we equivalents XXXX, And XX, At with of million about XX with March cash first and the were million, and
financial and well flows solid We financing to anticipated have operations our a needs that as we created and in take company We the arrangements believe existing cash repayments. will our any capital from working this satisfy believe base into expenditures sufficient future. capital be XXXX as debt to
me reiterate shareholder delivering let business value and will XXXX. balance top a through They're actions So gross our free priorities We our believe sheet. in growing EBITDA these note, create on bookings, winning expanding final growth. cash new we flow by sustainable financial margins, strengthening
Our working. last our year-over-year of is quarters that demonstrates approach results eight
it turn And closing with for to Jay his that, comments. back over I will
