on and Thank I you, us Jim And I to for Devin. am today want Pach, Good Controller. the thank today. Officer Financial morning. Principal everyone here with call joining our
the contract APC been since period Our of activity of results that continue beginning XXXX. we sluggish extended booking reflect impacts of the new slower than has faced to third business APC awards the have expected.
are we beginning that believe resurgence order to in flow. see we However, a
last relative offerings. new that continue track a value ULTRA, week, dollar our announced the small a work approximately rewards, sales $X we to SNCR to million million While project SCR, our million of for in basis, we to $XXX $XX potential on pipeline, and ESP project represents global
contract to the end additional close awards this year. We expect before new on of
in a that mitigated as losses. in which, had $XX.X removal XXXX. we of XXXX realize should no a have associated the these full and $XXX,XXX. leverage wind our has And has we the completion. operations to regard, and past restructuring suspension factors: domestic that underperforming result down debt. significant narrowed overall over of and cash by expected, as second, $X delays A financial approximately few by approximately efforts total expected in these of significantly operating created international the operating of annual result been in XXXX, includes will million completed result of be impact XXXX, strong The the In nearing QX, our impact to our these operations losses the While China And which the million of position, is first, end on benefit financial two results, is years. of in the
We are office. no longer originating from our project work Beijing
office three a at few solely accounts our work on that receivable. focused retained we individuals Our and of primary completing collecting field been have are and outstanding customer has on remainder closed, activities sites the
remained Our the cash strong post-quarterly collections from third China quarter and during close.
of Our collected China by are by of down from QX. second from September approximately $X.X an XX the XXXX, have million outstanding incremental in December $XXX,XXX accounts XXXX. receivable we $XXX,XXX declined and end the at approximately of quarter since the close Receivables
activities repatriate We expect completed. to to have the in suspension are available cash once million $X million to $X
FUEL with business of XX%. third million margin of revenues $X.X Our in quarter the generated CHEM the gross
revenue gross these year-to-date period, months slightly XX%, margin declined and with the positive year from to XXXX the of stable FUEL first quarter third in FUEL to performance are opportunity segment prior in It on important year-to-date to the the the margin note business gross during and of a of nine year. revenue Although Based improvement of of been compared we U.S. higher CHEM first the XXXX. of to expect has XXXX when CHEM’s to that performance we the show the half for continuing second is pockets compared half see modest results,
weather new months. and the discussed for the good units these year, FUEL we earlier power coal-fired we of As southeast, a permitting units winter had successfully in CHEM this adding and two portion run demand installed will at utility
are adjust These asset I'm desired a future basis accommodate one run that This pockets our unit their know intermittent early in to to on terms FUEL a of southeast. U.S. opportunity fuel until CHEM unit pleased purchase the FUEL install base their in generation mix more sector, in of QX, program an power CHEM utility will utility is rising in order source. the they as its that to plan received conversion gas. on to natural of we
such we move additional expect we XXXX opportunities beyond. into We that as and may see
in is byproduct and country the burn end generate we power. petroleum fuel which driving to resurgence with Additionally, There are development. met process the high the last to regarding refining interest at that this Mexico of in two factors the sulphur partner a of month, our oil,
use standards X, will shipping pollution allowing enforce longer no effective It XXXX, newer First, to been the International sulphur transport of significantly now industry. is is Mexico to a selling world of by IMO, the oil as the emission designed produced of as have fuel ships or Maritime the heavy to and January maritime a curb Organization, heavy had for majority source in fuel. sulphur their fuel oil use going [indiscernible].
FUEL used as supporting United all the to Mexico's States. from Secondly, encouraging mitigate sulphur gas to from generate opportunity as government be to reliance such is will is pollutants development significant. the potentially CHEM opposed increased of program burning of This indigenous likely generated resources sources the power, use on slow, natural our the high be foreign but to oil for fuel current
waste CHEM where and is source We paper and biomass is FUEL using are where Asian pursue solid and we our continuing high, the countries, southeastern municipal and East where fouling issue. other power pricing slagging RECOVERY we our and focusing and in in are for Asia is applications geographies CHEM program, pulp industry, outside to Europe, Papyrus related demand where via primary partner of and on are coal an fuel, In South the of States. opportunities, United Amazon a
in a South opportunities. are but APC working predominantly today we Africa, for with Lastly partner
statement. Moving down to profit and loss
X%. the quarter $XXX,XXX from of Our approximately SG&A which is declined third XXXX, approximately by
SG&A income of $X suspension us profile. into This, in with from Together, expenses expense head the of we XXXX, we previous will revenue improved benefit our have we from approximately million combined in operating the largely generation. elimination dramatically operating our be efforts, which leveraged with leaves generate improved China when efforts As will were the operations. to these periods restructuring domestic,
in in mix last CHEM third between third APC of margin. revenues APC and reflecting during quarter in the through quarter quarter, Consolidated up an gross margin from was gross XX.X% XX.X% recognized the year's the improvement and the XXXX, FUEL
take to to minutes and a few platform. global Now contexts our I'd color to some add APC like
While we from of APC the landscape a XXXX, active setback have and had project remains perspective, business viable. opportunity near-term a generation in
year in XXXX. solid an Our we business, in to a XXXX, goal of is close of establish improved support backlog financial as
for regulatory ULTRA applications SCR This their opportunity. driven for gas by industrial permits provide in to requirements. markets is new being retrofit and and natural continued best units
involved and effort to overall on the trend. an integrators this actively market suppliers, the are in turbine capitalize generator system We manufacturers, steam heat recovery with
seeing such as flow projects, cycle are of complexes. combined We the a turbines, gas consistent new and upgrades plant also combined small at power to large heat medium hospital and universities
combined we energy are on ULTRA needed also steam Here opportunities, distributed generation at is efficiency. focused also power used were locations and boiler improved where plant relationships and to package heat SCR processed with suppliers, include for site, plants, supply The industrial systems. is a building and our
economic favorable the where country with seeing various work to We a projects have both new for are recent continues modernizing country continuing whereby are industries this are in One greenfield other to construction, to their plant in driving benefited higher connection steel that metals from demand with term that plants. line this in be example industry, retrofits we trend pursue conditions. quality entities for and committed and is
steel great expect and for these historically We have had the relationships industry relationships leverage new with developments. to project
new boiler as retrofit require control pursuant we California, guidelines expedited that best that well that Air states to units SCR emissions. new are Quality existing Management available are the require sources for establishing will technology certain trend South implementation certain modifications regulatory smaller District, seeing schedules Another directives Coast is install of applications. Southern may from to In systems, individual SCRs as recent on to
Los contract under of existing system director replace small a system for urea the now Angeles ULTRA injection a in because competitor's to poor performance. are We area
next EPA petition EPA the states leading petition they this the are utility Act. to -- this Air actions affiliate XXX the Midwestern lawsuit. ambient emissions difficulty with under good sources their York states of state October Connecticut Illinois to in downwards upwind requirements We Court with over and believe requirements. and on and to allows will the from to the states XXX sources a of New from and pursuing complying all are neighbor provision force And Clean require NOx years. having several the of XXXX, also New meet reduce industrial Act. emissions. way Section XXX filed Maryland, to the of denies Jersey, Circuit the Air the number sided to in upwind against they to the of Pennsylvania. This XXX states, to Clean the transport downwind Coast, opportunities Additionally, ozone a DC East to drive XXXX lawsuit These EPA Delaware up
far with level thus best BREFs, that as Europe inquiries Europe in is this adoption as The generally come five known SCR reduced reference timeline is whole, and believe technologies And levels, XXXX on to guidelines in with Eastern interest. being The that is the and believed XXXX new high European current have it remains ULTRA in target timeline Europe, especially of XXXX. upgraded In slow issued pursuing from extended a will technology years. funding, on clients Western APC which internationally. and least also demand NOx be three BREFs guidelines, emissions were drive also very available August will compliance in dependent Europe in next they both and generally at the We both for to from as projects countries.
associated pursue our We India. opportunities agreement with will in continue licensing to
particulate as then we later. importance, compliance stocks, order off the and government initial have come Although, prioritize to NOx prior in remediation matter and targets first, timelines mentioned quarters, in from backed of in
which FGC, believe technology been Tech to hybrid bag this our control cost-effective on present of particulate a technology to Fuel for filter in we is and will that slow. compared or ESP solutions, adoption marketplace, Gas an Flue this capitalize the has opportunity Conditioning, While technology more
cubic target. that has India has regulatory important for government to power the is XXX local environment state-owned note generation the company, in turned unfavorable it NOx release SNCR per power as milligram normal NTPC, Additionally generation unit the for as pre-XXXX known the pressured to meter
at a SNCR but opportunity be will for continue industrial point result, opportunity an the has to been larger market applications, this As delayed time. in
into assimilated Dissolved we and to the our NanOX, I reality. this demonstration half, company, agreement has believe comments. After Gas have following year close under Infusion license is our business, Water our technology Technology first and that our becoming Regarding been with
continue on advance on across customers with We of to gas industry pulp industries a and currently industry. variety and oil with conversations paper and a focus the today potential the multiple primary
interested water Additionally, momentum. advancing aeration recent DGI discussions suppliers other are treatment with gaining using in
systems venture for this in and of $XXX,XXX. investment Our thus demonstration R&D purchase far, been the included than modest and has has less
support we our going be have a selling aid that added that specific they’re the we and own months, identification activities. insights However, one to ensure with of necessary problems in In that experts are providing already and will pulp individuals paying doors efforts, discovery each increased move basis addition DGI these of the matter realized to on our to incremental water address, opening we system industries. expedite investment to in can on and dividends opportunities and customer pace oil forward in two issues past the that These was two and our demonstration. gas to consulting and paper diagnosis as towards development technical DGI subject treatment
pulp and incorporating design the new the focused the water are to in in engaged same respect application DGI standing currently facility, with a U.S, paper, of the engineering long engaged analysis as is With planning ours and customers possibility treatment are customer actively on midsized also which of the phase. and paper for a we and in technology review we production data of industry, were part Midwest, where we in
an paper site up we pulp will Lastly, requires with immediately. a plant, week, wastewater this we past assistance treatment and received third be that their from inquiry and following
oil time. is now wells considerations basins more to face in Permian region. Regarding severe the or becoming disposal The recycling. economic are can hydrogen for becoming to along that removal, the total region over more via costs gas, important the fracking, due remote permits wells sulfide disposal aerobic include produced suspended is wells metals and or seismic the difficult reused address and keeping water with solids, are oil either disposal to for a that The issue and either issues for pipeline and It water issues is Basin specific note to largest DGI world, production transportation truck
We with are experts technology. our working customer oil subject and whom demonstrate our closely with optimal matter gas identify DGI to to the
were In in thank we your interest Fuel financially. closing, ago, once Tech. I want for One to year ongoing you again struggling
We global million third the the balance on to bookings final quarter cash as in in XXXX, taking for internally, $XX.X source down of of we available the of on we China. was were were on diminishing cash of Our at operating wind had our sheet only the XXXX. the the of end remainder the decision uncertain and cusp
Today, and stabilized, gone $X than repatriate commencing and $X we will the we eliminated a cash to XXXX $XX likely in ended down more million with The in cash result, of with operation in debt. is successfully. has of of the China operating have $X million QX million along as no liquidity to wind global benefit in And million available losses XXXX.
and Our opportunities. FUEL are CHEM to we business customer managing new base remained stable, uncover
bookings, confident in shortfall thus XXXX, as I XXXX. the APC far, Despite move we towards our in in remain landscape opportunity
modestly to favorable expect in strong landscape to overall country, also regulatory for benefit in fossil from economy continue fuels. We a more an this U.S.
shifted continuing For generating of our from operations, XXXX, although, for this has result operating year APC outlook as our performance. income a
of sustained company a as the goal cash generation flow. is long-term a Our profitability and as team and
the And complete successful Tech the resiliency that confident this that we in commenced our have XXXX. still we While I delayed turnaround ability Fuel the a remain and be process has been team achieving as will year, company a objective. complete in to
financial turn of over a now go I'll Jim. Please to for things discussion results. Pach Jim ahead, our
