revenues that will quarter good cover of the will X.X%, retail commentary, the largely due In fiscal decreased $XX.X or to XXXX decline million XXXX, fourth comparison unless and units quarter Doug, fiscal sold. be fourth I everyone. noted. a Thanks, otherwise of in versus my morning, the Total
due However, by average being positively XX.X% million in income a increase this $XX.X receivables. finance was to impacted up interest
ancillary sold X/X our XX% from with factors the sales that improved covered XX.X% or price improvement to down strategy. and Doug with profit was retail The to by facing XX.X% XX.X%. that gross X.X% increases pressures vehicle affected sales margin of average our remaining The average on to are the in continue execute attributable per unit price retail these to we as dollars up and units customers products.
contributed I expect we to am gross that have we pleased results. continued these improvements profit XXXX. Doug and in year improvements fiscal had the throughout that actions year fiscal spoke to into the
a be to points allowed offer has vehicles vehicle help on better us and improve focused prices Our purchase We're payments financing. source them lower-priced through successful procurement with to the units items with mission access deliver XX up units to reconditioning Execution at deal customers strategy to to X.X%. our our down results.
LOS and remains their can on and basis these efforts. to affordable structure affordable
Our was Even the months, term the pleased originating $XXX. fourth from just price XX.X month also our XX sequentially increase. up We're up months. we sequentially last with held and at over quarter average also approximately to up year's dropped $X,XXX, term average X.X retail that price
quarter, results for fourth improved contract XX.X going total months forward. age the should weighted The end up to XX%. the At term weighted lead is XX.X average These average months. the or the portfolio of is losses at
total over collected maker our last a personalized contract which year's modifications teams difference active the customer appreciate per dealer to but collections, from with the relationship need rose local average hybrid to or face-to-face fourth quarter. $XXX Our remain approach $XXX. they laser-focused monthly technology. mobile X% X.X% assistance. when business Customers The is on increased
Frequency of to receivables X.X% we Net accounted in year. X.X%. charge-offs QX, see current were losses generally the and true for the percentage loss. was as that approximately greater in Seasonally, a average of compared XX% finance
insurance have on Our budgets. forces items environment continue cost to pressures money frequency their spread having leading of across face higher a covered demands This average everyday higher car to of customers that to and is the numerous to defaults. on customers impact Doug their
low keep a resolve is delinquencies before and payment our repossessing customers percentage goal to Our with to work delinquency vehicle.
points over primary credit were which a for due, The our sits improvement delinquencies basis XX Our accounts quarter we're XX.XX% results allowance past by basis end. from at losses, LOS point XX at in quarter now or the seeing originations XX X.X% end. at days and to our improved driver
and included The continue and year, better in during contracts on us material deal We've fiscal expected we're slides. returns in quality returns. of profile fourth structures past pleased news release been this maximize sharing will cash-on-cash our cash-on-cash is the originations originated our cash-on-cash help This to that and produce quarter supplemental to our focus are returns XX.X%. these
SG&A implemented during measures primarily million, year. improvement million, SG&A. was to an improvements due cost-cutting the expense of and operational $X.X Moving fiscal $XX.X to
during higher forth expense Over last annual the in especially generated increases put averaged change XX% SG&A in X.X% to increase. the over years last The X dollars. years, SG&A our inflationary efficiency, percentage commitment in This just lowest a annual over we've fiscal in improving environment. X year at efforts demonstrates the
While progress, a to business we've made going areas. on have expense an headwinds any variety of basis across annual is
we sight in of that be feel line debt. to well in the rise us that or historical we an due allow annual increased to secondarily Interest million have opportunities $X.X below a However, rates expense and increase confident will XX.X% to increases.
an On $XX million. was interest basis, up annual expense
As $XX.X credit million and base additional borrowing calculated $X.X inventory. facilities cash availability revolving our year-end of April receivables have and and our in million we XX, on of unrestricted under approximately
fluctuates rate. notes rates our credit represent funds of nonrecourse the while agreement. funding Our our fixed of cost the interest of on securitized our in revolving with bulk level
I'd close, highlights to some covered full this the of our point morning. year out I release like Before in
we XXX for SG&A our was volume, account as pleased average points total While basis in revenue year unit and XX basis with the well were increasing gross on collections X.X%. reducing to margin slightly, as due points down progress increase per lower
initiatives, implementation position the technology including for LOS, will believe we us well heard, you fiscal As our XXXX. of
We to prudent growth committed management. remain strategic acquisitions financial and through
on to shareholder dedication steadfast customers Our road will the long-term value. keeping lead to
back let to turn Doug. Now things me
