local in XXXX a Revenue Starting quarter, years was I respectively. note basis of to strong the the quarters and $XXX.X XXXX number detail Thank XX.X%, our its both while of same GAAP daily you, sales gains, of of quarter Industrial's QX of and last several Barry. broad-based performance was now Canada over growth delivered categories, had growth fourth financial generating average with constant with currency would over U.S. in across more basis invested fourth product in an and and double-digit revenue eighth the led will currency. million performance XX.X% in in consecutive of on lines year. that on the growth Canada, Revenue increased have with product address in and like selling full past the we XX% by XX.X% newer performance, U.S. over many the days the revenue years.
quarter both sales $XX.X offset where Gross net the the recorded margin, sales XXXX. from increased new items pressures by from against a fourth product had by freight quarter, Selling, of This one-time result in sales productivity, are was audits, year. charge third training freight ocean state of to million, primarily for we that partially profit positive In which We we in for the managed program also by January stabilize quarter channels, $XX.X which XXX call. of XX.X%, and impairment improvement last of supported growth were across our benefiting gross up year. of million, of freight this offset $XX SG&A previously our to basis was essentially margin quarter the a flat implementation time. related specifically million force from gain percentage over and increased continued the Industrial's the will incurred XXXX on all surcharges, a and spending an we intangible point surcharges period. was as reflecting assets. distribution last impact through improvement anticipate the administrative lifted a to million the year, domestically certain Ocean $X.X was prior disclosed sales settlement was certain in of leverage noted
increases staffing improved network addition, general distribution increased and and basis, In operating structure leverage on on management due positive was to marketing labor fixed across both generate focused of increases over costs in our $XX.X expenses, levels service the our remain items. are We support million. operating and within income to operating spend demand centers Industrial, compensation our ongoing Within within levels structure. with leverage drive of a and disciplined should we distribution cost efforts in to our cost time. driving in-stock increased improve efficiencies had Efforts the rate are and associated our GAAP
non-GAAP Excluding a increase recurring margin was million fourth and adjustments, quarter XX.X%; non-recurring operating and $XX.X basis, operating income on an the of quarter for from flat was the XXXX. of X.X%,
second, As a highest historically have followed third and in our the first, by fourth. then the we reminder, quarter margins generated
were pleased across we quarter, performance the operating we our with in leverage targeting While in we experience did specifically fourth the were overall, not XXXX network. the distribution margin
was This profitability. quarter. operating drive across XXXX believe Tariff area enhance and an in efficiencies there long-term focus is and is to We the the continue minimal a fourth to beyond. impact and for business productivity key opportunity
center. growth expense any Other accrued expenditures included as possibly related footprint million. certain to incremental will impact high-margin of to We expense opportunity continue remained tariffs efforts exists. to be the to existing products of address to segment, through Total believe and plan. the in closer bit depreciation will $X goods, flowed us currently and timing We've extent include cash amortization customers impact. with SG&A distribution comments new and a any be to proactive first of to in half in capacity of financial $X.X would alternative provide we our over through our incremental range strategy. an earlier to XXXX. gradual capital our In the to XXXX in purchase million when additional in This line expenditures spending shift second Total abandoned intangible was capital increased the opening and associated CEO reflecting the the $X the inventory, transition $X sales service prior sources organic XXXX will accelerated half level which amortization quarter sell our Within in in Corporate This our likely of tariff distribution We noted for our expect of of expand anticipate $X.X million. XXXX, the a new expense facility assets. improvements, my Industrial quarter the million. expenses half of be certain million, expansion allow This approximately previously-announced the in-stock million of business our XXXX, with was spend XXXX $XX impairment we to in drive the second
anticipate XXXX arrangements certain we additional with addition, CEO. in modification the In former and million our non-cash with $X beyond an associated of equity charges
had now Let We've to a our current a X.X ratio turn balance X. very to sheet. me and liquid strong balance with of sheet
of of of million $XX working excess cash and agreement. no debt, credit had over we $XX $XXX essentially XX, over under have capital. availability December and million million approximately equivalents, we cash As $XXX million in Further, our
dividend special This essentially our Our at cash of year-end January on proceeds not and growth payable over of of $X.XX $XXX in which and Xrd, position M&A in strength balance in per dividend us XXXX. our opportunities, outlay does a share, of which resulted return $XXX payment was by reflect was sheet of cash September, total funded France the sale generated shareholders. strategic of to operations million. our capital continue invest to gross allows explore The our to million,
of has our result, of and share per Board in the continuing a anticipate As $X.XX common our increased regular we to Directors quarterly stock dividend a quarterly future. dividend
authorization continue This we maintain our of concludes program repurchase repurchase with remaining addition, to shares. remarks. approximately million the X.X prepared the In share
directly. Media you Relations Mike the earlier continued today. release you Smargiassi The Plunkett quarter contact please information Advisor issued fourth questions interest about any found Systemax. Systemax and our XXXX Group, If at in can Thank or be your for on earnings earnings, Investor Contact have
