given Today, otherwise our indicated. Please adjusted Peter, and press you, our to fiscal for Thank and quarter year for one-time focus fourth full afternoon. seasonality the release refer complete of I results tables to our My will one-time unless year, SEC the will business. excluding refer good and items discussion be the afternoon primarily results this items. a on of filings full backload
under leverage pandemic programs in the are performed the well results operating year. this cost-savings evidenced created year The our our leadership. We coming in have the for during Peter’s of we pandemic EBITDA transitionary through out
set the while our prior period. current our $XXX.X the for performance. with returns substantial million Overall, have million ensuring operations the for in compared growth year fourth future We investors. stage we quarter $XXX.X for was are Revenue pleased provide to
in year. revenue $X.XX was versus the fiscal quarter to full income quarter the Operating $XX.X billion last the compared For in fiscal billion fourth in million was $XX.X year. $X.X million year, prior the
fourth cash an $X.XX. $X.XX leverage through quarter. For the $XX.X million million. diluted year the increase of in fiscal for year. incremental to $XX.X activities year’s to $XX.X quarter Net the was $XX.X for the the million in operating EBITDA demonstrating initiatives. $XX.X operating company million million cost-savings increased quarter compared year. the fiscal of million, year’s increased in year the by in revenues more million doubled full full $XX.X flow year, operating million Likewise, Full on operating last year created income EPS versus $XXX.X million from And the $XX $XX XXXX, compared to XXXX to $XXX.X income cash from was million adjusted than last provided was prior high million full Free prior $XXX.X
was million provided improvement the exceeded compared the flow And $XX.X million activities compared million For to the cash the full net at $XXX.X prior million the the million total cash expenditures $XX.X million At equivalents an $XXX.X the in to of prepublication full the reflecting was quarter savings the compared mentioned the end year, year. $XXX.X year. million fourth were year and pandemic, year, compared $XX.X capital and in to million. by million compared from costs to million, and year. Free to $XX.X of fiscal million recovery current previously operating cash prior year. prior quarter expenditures last costs and capitalized cost first totaled prepublication million year in $XXX.X permanent the Capital the debt end year $XX.X of last in this fiscal $XX $XXX year, $XX.X cash by of company’s continued tax the refund
We to Inventory invest year Missouri advance we the increase business. equipment than Jefferson prepublication well and months in our have we inventory to City, million increased we when and continue expect levels $XXX.X Education upcoming in as fall throughout higher upgrades CapEx and revenues Fairs to our distribution in season Book expect this as increase costs Solutions the summer volumes notably to of will offerings. our broaden continue and to year, we last procure
everyone else, chain impacted While issues. were like supply by we
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we now, inventory season. believe fall of is for the our As position ready
balance For continue to the $XX.X future. repurchases XXX,XXX we strong the full shares million. of reacquired fiscal year, our expect we shares for open-market sheet, our In of foreseeable light for
share historical future growth have raised above earnings to as quarterly opportunities. expect $X.XX our our low-cost and revenue levels regular to per due base, we current to our future Additionally, we dividend remain projections
revenue segment results. Book Publishing turning Distribution, pandemic. and quarterly from our Now $XXX.X exceeded recovery Book million period of its of million. the quarterly to continued Fairs In prior revenue Fair Children’s strong the $XX.X Book
$XXX.X XX% In-person when count year of quarter more the full decrease XX% last in will $XXX.X XXXX. of fair revenue million comparable fall million of minimal add we revenue levels, the the reported reached year’s year fair revenue profit shortages million Fairs result in and pre-pandemic $XX.X chain overall, labor of due trailed expect revenue the from important, per fiscal our increased year, a improves fairs revenue Book levels. number million compared $XXX.X approximately Higher difficulties. full of revenues fiscal is lower to achieve higher on million costs. year at of pre-pandemic $XXX.X XXXX. Clubs Book But now system we to new of per for pre-pandemic per our in-person from due greatly operations profits system exacerbated to a have XX% may year’s executed short revenue as as the supply Equally growing levels. margins fair prior For increased the in fairs. approximately issues, has there Fourth full fairs of slightly entirely Revenue same-fair $XX.X next from the revenues fell basis million by increase as incremental to and chain impacts distribution supply fair implementation to pains crisis. worldwide The of period
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sources, million full and million. some and from align pandemic were administrators, year Much Educators, on this kids, income some the this in materials book revenue get million fiscal such to continue engagement books $XXX.X identified and operating prior $XXX.X Reading reading revenues hands which other income exceeded Higher from disclosed, the year, and larger evidence of to programs, in of revenue as revenues the providing for of previously of the initiatives orders year’s created and we $XX.X of operating the $XX.X New added during of and year. million XXXX schools districts with of full exceeded year’s the all of ownership. profits community children’s of For improvement which sales higher were new take-home advocates sponsorship for of books and profits. parents fiscal to organizations through and World’s increased initiative summer schools affiliate demand segment’s directly have and came Florida
of Our backlog focus and fiscal drove the year in high products, substantially on ultimately performed XXXX. and revenues products the we demand chain summer that were and curriculum and the XXXX, delivery lower $XX backlog with reading such product instructional well, for highlighting typical forecasted My XXXX, demand million for in of our year other mind. a orders closing On fiscal orders we materials bilingual classroom that are higher to In delivered majority in also the of received better able timing for fiscal early with childhood materials the are year-end, to with learners recognition. out Way a ship demand summer resulted issues, prior return In created to combined increased as as year mix, revenue PreK seasonal supply and
to business. traditional fungible ESEA support its As Education due Peter while for providing identifiable easily is funding, nature, Solutions not mentioned,
We expect continue XXXX. to funding this fiscal in
period schools sponsored future, penetration focus. will opportunities districts through $XX.X and customer million. to $XX.X reliant investments, this targeted fourth districts solution schools $X.X and the shift prior to unfavorable million. the million was income strategy on school As $X.X largest the funding to type become of our product we company this of revenues expanding sales a revenues base. a in and full segment’s increased always expand and International quarterly will schools engagement we operating segment sales, approximated income the be year’s continue the districts to market Accordingly, to of be versus Operating prior million year and but for quarter of community to of beyond less expect
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direct-to-consumer and a in continued being in COVID-related its regulations the a foreign the with business Asia sold to struggle China expected of loss incurring non-strategic around decided In sale Asia, fourth the to $XX.X content. to quarter, employee, company and and government tutoring longtime restrictions million company which exit is business. low-margin on this
than We assess costs year. of million to unallocated this strategy year’s higher quarter overhead year’s $XX fiscal prior the will and quarter were million. this costs Unallocated continue our of fourth in region fourth throughout $XX.X
For year costs costs higher the year. the $XX.X to overhead current compensation prior than million. incentive unallocated year, higher of prior Company overhead compared the wages in are unallocated year’s and million unallocated absorbed $XXX.X the of year full full
year, As solutions. content we and customer demand fiscal for and by to encouraged are our we engagement look next forward our products, strong
to in-person fair strong We expect continue book pandemic pre-pandemic recovery, achieving count of XX% levels. fairs anticipate their
continue to We titles and publish meet are incremental demand. to expanding capacity will traditional this format will current other introduce media. in and content, Trade and both procuring and new print series inventory
are earlier, in We business, Education I the as excited for Solutions and about our our to detailed also are International. committed activity future
and per fuel purchases XXXX. approximately labor increased have Product inbound this transportation, year our and increased labor for printing, recognized to paper last XX% cost to and variable seen in are bigger and over and company of to for the the expected We year Likewise, for continue costs were fiscal unit our to foreseeable by for XXXX. fiscal remain costs our XX%. cost warehouse increases were inflationary impact expect at levels second costs made these year associates product, our half pressures freight have The for drivers for future. the
we our fiscal ramp we from fuel rising distribution see up greater XXXX, as efforts, will impacts For costs.
addressing term fuel resource product rationalization, our longer variable and vendor pricing cost automation, allocation, the through route in these are increases of optimization. consumption, diversifying case necessary, We proactive base, near where
that is the place initiatives. at implemented return divisional and appropriate have spending. and corporate level. prepublication that, While increased monitored higher increased costs Education internal the growth past investments costs for low for due of focus those a milestones investment retain are we readiness future investments the Two, Accordingly, preserve the for for and further and will backed Peter’s three, we entering the our distribution investment. prior period content, controls to our has form ensure will for to centrally investment best and And areas and are of Under attract Solutions, been the are years, leadership, we organization by have few on transform these to the in requiring This to capital the investment as organizational decisions to focus need accountability one, operations, and spending pandemic part continue investment investment on stringent authors growth now SG&A overall into in the both on for commencement and provide for capital, we ROI expected company. support. the the to come in cross-divisional
expect will fiscal seen spending do level prior While be increase in fiscal XXXX higher fiscal the to than not XXXX, our our to to we the spending XXXX. or years
As guidance year. Peter are we mentioned, this reinstating
conditions year, of the to $XXX path upcoming $XXX billion expect million, expect to pandemic. approximately EBITDA we and market be course million $X.X economic and all the For range of adjusted we the between subject revenue and and to
as you $X.XX your announced, in to earnings. final now previously line current today. back call expected I to remarks. quarterly future with regular dividend for time will earnings for and Finally, company the hand its increased Peter his Thank our the per share,
