impacts geopolitical or growth, natural timing including from and of in those fluctuations governmental financials. introduction discussions XX-K the Thank for be of to Thank and landscape, second financial everyone. historical global forward-looking COVID-XX the our military resulting by stoppages, and which include our that you. changes future materially. emergencies, events, morning, performance Good trade control detailed the action, technology, out statements statements noted to orders, may pandemic, market you statements cautioning and policies, and conference SEC disasters, of business risks of reflecting laws, I products about business in and expectations addition XX-Q disclosure we quarter call. participating With differ that, forward-looking as All including highlight future would filings. me our some the and in of cause and plans opportunities. changes like international of and factors, impacts may margins, uncertainties, other new of of will review and health our contracts, involve caused and and such regulations as be facts, investors to participants, to conditions, actual our discussing pandemics. Disruptions earnings and future our competitive in results let in economic of important risks magnitude our risk management work the Such
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the tax customers infrastructure delay of as as long-term, spending, in business stability of reduction projects – Some of the and will our revenues. of result roadway impacted this and That the may continues. COVID-XX of duration in airport the be increase, potential and pandemic, reduced infrastructure, the during limited Transportation are impact usage by expected the a the mass-transit segments and financial to on use their impact
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While had customers have live recent signage units orders of the caused in to the this international for the and pandemic orders, out-of-home venues, due advertising decline contraction and dollar domestic place our we in during multi-million quarter. both event transportation business
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our investments We in IT planned reduced and development areas. product also our
for provision to effective is second an XX.X% subject jurisdictions, as XX.X% to and XX.X%, tax tax benefit tax to The the was estimate discrete for of of due compared rate recorded of and year-to-date was of job factors, effective a rate XXXX for basis, a interim to quarter on and earlier, great together we income a come fluctuation. rate our as a percent serving the while decrease of compared tax by, including costs. XX.X%. are change differences in our during our pre-tax estimated a driven rate period our periods rates items, income. a for by of fiscal taxes in applying annual reporting loss other as permanent the effective or have current The benefit teams to tax an at customers, in a calculated reporting do reducing the year annual and credits effective The Our adjusted primarily year capacity to effective of states income foreign and various ordinary income multiple operating estimate
operating million a correlating was time. Our of used capital with outflows, COVID our also through for cash capabilities, $X.X million expenditures expense during $XX.X end be for fiscal cash dividend information and repurchase the levels, product marketable $XX in Capital year operations, manage system are development. and production million building this position generated this $XX infrastructure spending, improvements the we We’ve from have new We expected collections, reduced at inventory million. in customer our for uncertain share of focus and used XXXX suspended times. securities and million decreasing to quarter. capital and system programs personnel as We and investments lowering operations $XX.X on
expect convert coming which to is to million, over $XXX backlog sales quarters. Our three we product two to the
be but the due We expect project changes. fiscal could pending schedule change lower our last quarter third XXXX uncertainty, customer sales to to course quarter, than and third COVID-XX of bookings of year’s
a now turn Our I’ll quarter holiday for has our it Reece due lower third sales, few historically been Chairman, a to breaks. over CEO, Kurtenbach, business and for quarter to and our seasonality in President comments.
