I you, afternoon Officer, thank quarter Charles you today call. and Roberson. good for Thank financial Lakeland's joining Operating conference first to you XXXX us all fiscal here and on Chief joined am results with our
financial up, questions. first discuss so may to your our that are the call of operations the we We Then status will going on to results. be opened respond
Now onto remarks. the formal
quarter meaningful first and year, of fiscal our fourth results from Our for continued decisions achieving last show setting business progress stage quarter toward the growth while objectives. the XXXX important execution
to notable gross EBITDA company sequentially, margin, Most lower profitability. we in in reduction an return operating expenses, improvement losses performance adjusted quarterly a net operating The did for and deliver a and of which toward scale, year. a commenced on the resource work business restructuring, installation, planning global ERP to the ERP solution, largely and our enterprise or continues development last to support completion
measures the although on work past opportunities be the aspect the many initiatives, the our providing now which in With to operate. in fully of we done perspective markets most are available have performance headway been remains we we on the sequential challenging believe making, capitalize we to
an quarter. first relating included fiscal $X.X estimated quarter $X.X A million in ERP was quarter installation an costs and million in critical for licensing expenses the us in the XXXX non-recurring XXXX the plan component estimated of -- of this ERP. and our There million past has installation. $X.X of additional implementation Today the to technology fiscal an suite,
I impact we it is resignation Officer. This our including disruption, Chief to very be does can not quantify, which business material but believe the the Financial of a difficult that say include to
of our senior of XXXX, We expect forward half we be these challenges. subsidiaries management Thanks in to have our been Canada to of to the begin installation drive by installation deep able the calendar completed first face XXXX, Mexico the and fiscal beginning facilities. to our end in with foreign with the domestic bench, in
on some with here QX year one quarter. are In absence QX million were financial or compared FY FY million, in Net in of data quarter. the CFO XXXX the the quarter and $XX performance today's first $XX.X sales $XX.X for FY for call, or XXXX key XXXX million last last
no QX profit for in required $X.X compared quarter. QX are USD, earnings million we currencies year that XXXX XXXX back or and both of we surprise last last approximately XX items FY hurt these in. deal $X.X were be or from in should of million Gross FY sales QX Since FY and all to our foreign line $X.X it material with translated XXXX in USD report the to when million
QX to a in in in million of expenses Operating XXXX $X.X or quarter. last QX XXXX QX QX FY million but in net as in $X.X just year year, FY FY margin last XXXX sales from XXXX, XX.XX% FY down was up or FY quarter. $X.X QX XXXX from of compared XX.X% million percentage FY last QX Gross XXXX and XX.X% last in
XXXX, share $XXX,XXX quarter. XXXX or in Adjusted FY of or QX or net the $X.X $XXX,XXX million loss EBITDA and compared last or the just income of million net as quarter year to share share last basic – share per FY $X.X a QX Net for XXXX $X.XX $X.XX loss a with quarter. compared of basic XXXX $X.X QX in per of million, $X.XX last loss FY of per FY QX and $XXX,XXX in in
quarter. quarter the we've first up that, last in picked So what's really obvious here is from
some making here. are We progress
expense incurred order gross in shipments fourth quarter, the the growth to demonstrates that processing that and led to potential the on other the fact gross quarter. markets This their margins extent ensure to U.S. the increased and The macroeconomic lower Similar domestic to margins, as once sales significant for the time. due pricing received ERP normalize. to pressures the select our in issues possible system customers first revenue fourth the in challenges and profitability for quarter particularly concerns, conditions was our expansion as amid well these and
order control conference in positioning from the as $X.X fiscal starting our $XX.X million evidenced product mentioned the by backlog paying-off of backlog On $X the that fourth ending $X at year-end in our with quarter we and million –ending U.S. market million the with and are call, investments year at the development, global XXXX going at beginning of million. quality
of end million the made was quarter reason was for We margins. our expense if customers it. from the needed certain I here, at was improvements the which at backlog million U.S. as discussed other XXXX But of of $X.X Our herein, no first $X it then
associated The other India. facility in our the critical our change with manufacturing has Vietnam and operations of along our to business ramping been new up
been facilities have than year, these We more capabilities. investing sales while country for in warehousing adding in a and
Capital last expenditures peaked equipment for year.
of XXXX. and XXXX fiscal spending fiscal approximately now first ERP Vietnam current period. are and expected both expenditures Capital manufacturing fiscal $X global XXXX less was phased system XXXX $XXX,XXX fiscal in are majority in the CapEx $XXX,XXX approximately allocated all million for additional with to were the we in in capacity and year for million with decline for quarter $X.X So of spending XXXX, toward India. of compared rollout to the
Manufacturing Vietnam and while new year ago. has for staff manufacturing is XXX Vietnam in employees, staff from down combined staffs capacity a employees, XXX elevated to we headcount the India of near in transitioning our are Staffing while China training some to XXX and the production China in the now been facility. from
lower in over Following financial the to and bolster training regimen to quarters, further tariff efficient remanufacturing we our performance. few platform output cost more yield much the Vietnam expect a next
are gaining Sales Vietnam activities within also and India traction.
the position improve At our financial overall end sheet. under are remains QX capabilities balance debt. increased Our We manufacturing of $X.X we and forward. moving fiscal the little and XXXX, the million cash have by in from by efforts strengthen our same beginning our global the debt our and time, year marketing on now to reduced performance fiscal channels million of the modestly that $X.X
delivering work line scale facility. this and XX% position utility even our consecutive QX elevated was million $XX.X now the of we though we and in materials new million at cash start $XX.X two raw customers process Approximately, year. of continue up to manufacturing to Our from of our seek for inventories quarters, product at have increased increase high-value end our as $XX.X to our support has million the at improvements the in
should accordingly. be by improvements in as assisted our and on and mix, also Vietnam flow alignment is cash allocated India in corresponding efficiency manufacturing new capacity product Depending cost Our the of facilities profitability and current run today, to normalized a our rate up revenue from of manufacturing $XXX million. of annualized range and about standpoint efficient $XXX million our in $XXX million could revenues from be of QX the
levels the we we on for certainly This to-date acquire With cash price although our no purchased shares will closely in And first at to looking XX, program was $X.X and levels, our outlook at our approved be share XXXX. current spent stock XXX,XXX million shares, July improving the quarter. repurchase were program.
direction We progress. are by encouraged and the company's
current U.S. significant flexibility XX China, of in the manufacturing remain international diversified our that strong through the operations into the our advantage excited strategic in countries, uncertainty and the market. Mexico, India, trade the customers sales Argentina, by position Vietnam and affords With environment in we and us
well our make XXXX As we in bottom and as have we through forward continue longer-term look to as on fiscal move will we performance. capitalizing sustainable to in drive and efforts made beyond, improvement progress results line the topline to
concludes the remarks. call back That turn to operator I Q&A. the my the will to begin
