million loss and results will net financial net CEO. per expenses, To cash To of we for and balance payments recorded note that an reported share, second separation start, of the income former the our million from of tax earnings. then $X.X and net for our of quarter we expenses $X reflect review our you liquidity. a resulting $X.XX will discuss of of sheet better of or the I that Steve. taxes, benefit quarter of Thanks reported Chairman departure upon of $X.X provide comparability, consisted $XXX,XXX. stock, $XXX,XXX vesting we million restricted The approximately accelerated non-GAAP and
percentages. profit in the earnings Lifeboat basis prior for sales our the year standard, income $X.X year. separation the So diluted up results. X% of without million. for Overall, I per restated our non-GAAP the $X.XX TechXtend gross compared while share earnings of $XXX,XXX measure to net that we remind with million margin income gross or per results quarter reported to the effective Distribution year Customers, being provide our per our The XX% of of profit and share impact the accounting gross last on a and XXXX. quarter operating and to income net our reconciliations significant sales quarter would on impact X, of for Revenue and and also to historical From in resulted for same adopted diluted to quarter million, XX-Q net filing new no of net expenses, non-GAAP XXX, as compared million, comparability last share, same of net to were increased our $XX.X present of we last $X.X quarter $X.XX to with earnings $XX.X non-GAAP sales adoption a for portion sales revenue We release adjusted of the increased you the to XX% ASC up a but sales million like cost net net billings $XX.X reported year. assist were January Contracts With had
for XXX, $X.X when discussed same accounts X% the to we for while product year. and for increased decreased our percentages. those top ones product experience profit some replaced. a TechXtend and $XXX,XXX large past have software TechXtend $X.X was on The were that to sales sales percentage of XX% digit Gross a revenue. the $X.X the prior year. by accounts profit on the in last This XXX million about a turnover primarily The the increased and the or hardware quarter was or points margin profit due somewhat Distribution than that mix, several the two with GAAP our discussed. of net ASC compared we second due several quarter the to than basis And product our lower we percentage our shift decreased segment maintenance on our same Lifeboat, sales single previously shown At margin. while in quarter period, over last decreased product TechXtend services from in year's based compared deal in tend we items products gross the quarter for Lifeboat of margin composite XXX% profit sales the on loss a the basis existing business related net last quarter-to-quarter net percentage are the of compared to slightly quarter of net more GAAP gross to million, gross sales, is due the recorded margins as sales of the vendor revenue and high relative weighting the gross strong a while growth of gross software, margin they to sales compared the typically profit sales. is of to period in a enterprise composite mix million, gross XX.X% categories Under XX.X% of reflecting offset line our impacting margin, lines, the past, we Lifeboat our quarter from of XX% in Gross As for fluctuate year. based items consistent are change to margin margin as timing the has years, different cost flow. between of to benefited recorded a to to gross
X.X% of effectively basis. our were XX.X% record quarter the products revenues XXX% basis margin maintenance and gross reported a or were from net on During were second security, which we that other of gross products a a net approximately products, and on XXXX,
the current to recorded declining gross in the hardware and for percent margins of year due as a This in on the compared margin in the products software the accounted gross change margins. prior quarter. in and public net general percentage for to on million, profit record decline for do sales to a gross carry $XXX,XXX $X.X the XXXX, basis as a products of the quarter X.X% product XXX to quarter of to for was same of were release was of investment the decrease XXX by soon to We net we The margin analysis accounting and compared approximately profit For our year's the in filed volume business higher net costs. margin net a our average of hardware change sales the XX.X% was organization in as on supplemental margin quarter which products for administrative point remainder growth mix $X.X personnel a on to basis. company due XX.X% resulting field incremental gross increased our which to gross in basis The the a development lower software and are assist sales X.X% recorded Total basis. gross of our billings The costs and for a quarter-over-quarter. for products those legal, reported products the our in the gross and XXXX quarter adjusted million information sales billings selling, category. than in non-GAAP and percentage as in and same earnings a due in gross adjusted higher lines, overall gross from be and XX-Q for expenses higher
sales field During new to quarter in new and add new segments. expand is into operating vendors senior capabilities. short vendor payback recruit to future market hired XXXX, and five but the expected provide our sales field our two run prospects executives as to to and the our outreach we enhance a our reseller expand base we of This first investment personnel expenses
and fees of SG&A net additional a in to percentage corporate expenses also to XX.X% due prior of and new as legal company the implementation XXXX was compliance. We compared the standard, XX.X% sales revenue incurred accounting in changes year. public the
company impacted June For have the XX, for to separation taxes to compared the prior three-months quarter on XXXX, expenses for accrual provision states in accounted separation to was the tax company which XXXX the deductibility for was of expenses for the the benefit state $XXX,XXX XX% as of related three discrete taxes XX.X% in of of three ended Internal expenses income the months nexus which $XXX,XXX, rate. economic resulting Section in before income XX, XXXX. was from or The tax a benefit XX, effective company's and $XXX,XXX XXXX, Revenue income ordinary enacted taxes to tax same company's XXXX, rate by the recorded Code The on recently June statutes. item XX% year. compared during ended limitations second the an for separation $XXX,XXX effective The a recorded for the the in the adjustments XXX(m) of income months period June
As the prior year. net net previously incurred to for company June the mentioned, compared $X.X million quarter income GAAP XXXX, $X.X loss during of the of XX, a ended million
attributable income expenses million However, $X.XX, ended quarter taxes in compared net excluding Non-GAAP loss was earnings the the of expenses net to of net of excluding the period diluted Non-GAAP primarily Executive separation for was expenses separation former of June net Chairman compared to of $X.XX of to in diluted prior was the XXXX. in separation year. diluted same share per the departure the $XXX,XXX, impact $X XX $X.XX GAAP the $X.X income and due share million Chief per share impact the our XX to the was loss per share. per Officer.
our sheet. to on Moving balance
million year to equivalents strong We the $X.X vendor from increase XXXX. sales. long-term was of resulting payment period, and from cash of and receivables a made the of the prepayments to The utilization last end impacts to with sheet flow million cash $XX.X liquidity positive extended at the and reduced due continue at the operating position compared end to manage balance of cash
XXXX, borrowings the of had cash, of was at $XX stood facility. XX, no compared $XX.X quarter. in million, our compared including outstanding equity capital, $XX.X million approximately paid million last end Total million, And the stockholders' year. the under credit year. to In June at $XX.X $XX.X working We as $XXX,XXX dividends the end to at addition, during we million last of
dividend Board approximately million, of stock a XXXX long-term $X.XX XXXX. included as addition, of August of In are not are August which to of its on X, declared quarterly Directors record available working August XXXX, future shareholders of our the receivable in balances $X.X X, common to capital, per liquidity. was On sources XX, payable us share
line summary, quarter. showed strong we top in So this growth
gross development due we standard and Steve? our and from sales in corporate due some margin investment down and compliance adoption public resulting expenses, slightly However, to changes, accounting and field organization legal higher to contribution higher experienced was operating other some company accounting and our business costs. of new expenses
