Automotive our was year-over-year quarter Pat second results, represented the Thanks, Similar the segment, Electronics the morning, Pat. decline period in majority for the business total and our sales addressed. six-month was for everyone. to close to reasons Good XX% majority our of OEM the the of which decline in
are the the off a the models, But level second-half new year-over-year in show based XXXX. increase on of modest We fiscal the should of second-half lower than to anticipating QX. year of be and vehicle the launch comparison potentially
continue audio as our Sales brought sales and segment were sales on products distribution up the products, to initial upwards, and Audio X%, by year-to-date and continue based up expanded forecast. market. to to increase are products year-to-date, trend the but wearables declines X% Electronics market above reception Premium European noted. Consumer to new auto of close offset in Pat
sales down with the Electronics segment, OEM lower in second of our margin and based basis XXX were quarter labor. on under absorption Gross Automotive points, decline the biggest
programs that more OEM to As begin, return should in historical new margin levels segment.
quarter margins Biometrics customer mix. product Consumer to product was negative of costs new in beta primarily segment samples test The to startup decline due related to segment second the in launches. and was related Electronics The
was dollar the Electronics were automotive we For improvements expect points sequential down basis period, The in modest in year-to-date minor gross the a third Biometrics segment. gross quarters. with and basis and margins declines XX both and the in drop on fourth only Consumer
affected on been that these price were before round margins to time passed go of note early tariff latest through. increases by of customers, as on bar form to in the to increases customer. passed the have increases tariffs a increase were like also I’d The The certain impacted have tariffs. customers tariff margins but not our
with be our higher We the products moving costs are Not production of impact working will and Chinese-manufactured manufacturers. in all in moving are labor we can products. successful China conjunction the the still moved out to than products by of tariffs carry lower
million, the or expenses $XX XX% operating and million, over just periods declined for $XX.X XX% or down comparisons. when comparing the Total year-to-date close were to quarter by second
new and selling our support realigned business. as have development. the lower Klipsch, commissions and current $XXX,XXX we has and future we both quarter, expense growth headcount headcount, due to in a however, product had to For decline second increased lower
to we G&A expenses, grant had approximately in down fees and office declines salaries. expenses, excluding the XXX,XXX, share third-party as CEO our office fees, was legal
we for As a treatment charge grants, million. the $X of approximately the result took of non-cash a accounting share
Engineering declined from transitioning was outside and to approximately technical support million result a the expense majority with decline EyeLock of principally in engineering. as R&D. of This contractors in-house $X by
I’ll quarter I’d million. intangible also impairment also $X.X last note year’s of included second that charges – asset
X.X%. impairment or million, total expenses Excluding the charge, operating declined approximately $X.X by
For the operating or declined over comparisons, million, expenses just six-month period XX%. by total $XX.X
X.X%. OpEx Excluding year’s pickup million, counterfeit stock-based non-cash the or $X.X compensation, the by impairment favorable charge approximately declined last fiscal charges, lawsuit from for and
domestically You and the taken of the the will in have see steps year to both we more based second-half on our realign abroad. expense operations, reductions
income in approximately expenses, investee quarter, declined charges As of increased declined expenses had of fiscal compared income quarter and Interest and other $XXX,XXX, to and for other fiscal other bank the other million, XXXX and of $XXX,XXX. million. second $X.X by in income the $X.X we in equity by second approximately by Equity $XXX,XXX. XXXX net
to two proceeds The approximately gain quarter. our second in We this fiscal RxNetworks, of a sale holdback are released a year’s provision, recorded of which related XXXX follows. quarter the as was investment were portion items subject the at of investment this biggest $XXX,XXX cash as to
fiscal our we quarter, recorded XXXX on the $X.X in Venezuela impairment investment Additionally, a properties. second million
our in XX-Q out six-month broken expenses release for and and Form period. income press other see can You the
second $X.X by the improved million. VOXX Operating comparisons attributable loss $XX.X quarter and the net to improved for by losses million
and million, by the attributable For $X.X VOXX to million. net improved our six-month by loss comparisons, operating improved loss $XX.X the
breakdown $X.X on million press $X.X in six-month and periods for we EBITDA The and million period. million is second EBITDA for an and XX-Q filing adjusted in XX. $XXX,XXX loss loss of three-month to release XXXX. in the our adjusted EBITDA of fiscal Page and $X.X Form Lastly, to a our of XXXX [ph] the This an reported for fiscal of six-month compares quarter the adjusted EBITDA
through our in XXXX year as work has we discussed forecasted. the had shift our had realignment. impact of fiscal meaningful year-end automotive in than more we In we first-half market been The losses initially call, corporate anticipated the
are we the an third on into the on second-half and of to expect However, both and basis year-over-year operating improvements. quarters anticipating fourth move year, we show profitability
Cash sheet. cash working of balance operations. XX, XXXX was to as $XX The the seasonal capital for million needs usage cash and compared of As upon based fund equivalents $XX.X to XXXX. May XX, is as million, August
As we XX-Q, temporarily have been approximately program, had million do the we mentioned finance the in we our need August our our vendor for $X used balance as Form cash higher. suspended would we have funding. not If programs,
fiscal be the moving third year. as We and throughout fourth bought in the quarters remainder we’ll inventory the in expect our increase of and it cash we position the to
on the lending the capital be proceeds down our operations. Pulheim will used our pay to of Additionally, to fund October completed working while sale providing Real Estate euro asset-based we sale and German our announced we additional X, from obligations,
of German Our million year-end compared mortgage total of debt and million fiscal and position stood since lower due $X.X to decline our decline since year-end our balance $X outstanding fiscal our ABL properties. The the for for a decline a of is May on the as million euro XX, XX. debt August to and lower at representing $XX
$X.X The operations. XX in the intends debt down company of pay by German October asset-based to approximately our million
We our on have sufficient fund hand cash to operations.
nothing available $XXX have outstanding. also domestic facility credit with We million
we to. flexibility and our needed to the market as the in are R&D, future repurchase and continue audio and Our premium maintaining in able to automotive, remains invest strong sheet to biometric balance support programs we open are stock
now my to questions. up ready remarks. for we’re That the concludes open And call
