quarter the our results will balance net Thanks, $X.X for $XX.X for review last the discuss year. X% sales for the million, sheet Distribution to Lifeboat quarter million. TechXtend were Lifeboat for financial first and $XX.X compared increasing and million to net XX% to million Steve. the increased with Overall, I increasing $XX.X TechXtend sales quarter Both and liquidity. and our up, of quarter XX% to
of significantly first margin under consistent the percentage composite as was of $X.X net a profit ASC of at $XXX,XXX. a the million basis due percentage about is points gross XX% $X.X that flow. in fluctuate of were XXX% X basis XX.X% margin a basis, items As ASC on $X.X the the relative the a Gross profit The the $XXX.X based compared The -- margin tends net million of sales our quarter net with gross the XXX, first Distribution and recorded quarter TechXtend to TechXtend for by XXX. billings discussed from the related in about non-GAAP of deal period increased gross decreased that Lifeboat increased $XXX.X items net the on to same in year. quarter on margin categories reflecting for accounts in of in gross profit to a mainly prior GAAP under is the are net Gross past, the to as while of increase percentage we've million XX% change to business are year. year million, profit net last adjusted our last change from products million of weighting XX% to to a timing sales basis and a sales Under XX% year. last costs X% composite in margin. compared sales or reported quarter mix quarter on remain quarter typically XX Overall, profit based the to high recorded gross on for to product gross recorded single-digit for the margin percentage revenue.
in of was at and a percentage of declined also our XX.X% margin products in basis. gross gross the lines to a to sales some to revenues are products, pressure. due mix The and which gross gross slight of security segment. X.X% due quarter our profit offset in lower SG&A quarter-over-quarter, average XXX% sold expenses was quarter basis recorded Lifeboat of quarter than X.X%, which to margin our XXXX. compared gross competitive During compared profit $XXX,XXX net net in million faster-growing in a as as the of On for were our entirely to other Distribution product non-GAAP for profit by billings of some change accounted increased for point approximately same first on quarter increase from to net we margin XX.X% Total increase reported expenses the shifts by on gross sales partially maintenance This mainly basis percentage adjusted XXXX, XXX effect were $X.X from historical year. average for percentage $X basis, last a a marketing margin mix a gross approximately decline higher and million the in same net profit in in and
fourth first full quarter expenses our resources results a of we as -- such, to management additional vendor the a XXXX field organizations, reflect of to phase quarter XXXX, and year. in compared last During and sales recruitment those added
included salary added SG&A implementation expense rollout for sales XXXX percentage XX.X% the as net dedicated and were team to quarter XXXX, XXXX. the we vendors, lines. a for in support some expenses more dedicated including in addition, of In new of in a our commissions and of complex our compared additional XX.X% onboarding -- to
for quarter March prior year. pretax the was compared XX, to ended income a million during result, million XXXX, $X As the $X.X
with For prior same the for XX% of rate the the XXXX, compared for to year. consistent prior in XX.X% XX, March ended recorded the effective X first period a company the which tax quarter of year. in months company's $XXX,XXX, is The income was the provision XXXX, taxes
for million diluted income per of for XXXX, the XXXX, the ended period quarter for XXXX. As March in $X.X a to in result, $X.XX ended quarter income same net million per for was compared $X.X to XX, same $X.XX compared March XXXX. was Diluted period share the XX, share income the
the on sheet. to Moving balance
$XX.X stood million million of equity was year. last $XX million sheet manage the the balance at and We borrowings including at XXXX, to end million capital, compared $XX.X end to million end continue year. a year to at Total our to of the the end and period outstanding of liquidity working the facility. $XX.X compared at cash and at equivalents position credit strong $XX million the $XX.X Stockholders' cash last $XX.X million with under compared no of of
run equity calculated income same XX% We with the dividing continue cash. investment of XXXX, capital-efficient total XX% net in approximately less last to the business year. capital return quarter stockholders' on to QX invested on by capital return our compared by in We
of XXXX. continue X, the of portion We a $X.XX dividend form return the of May XX, to quarterly 'XX, May Board XXXX, also a earnings dividend. common per payable shareholders declared stock to shareholders of share to Directors on a XX, May significant in its record of our of On
some strong development, and of as gross vendors from achieving. the this and year. in returns to showed and market to up segment Lifeboat growth delays quarter to overall, our invest our strong in new growth key top drive lines, profit. one business were plan quarter well and on We last compared continue expand we So manage of profit we're impacted appropriately, investments gross these implementing cost some and however, summary, first product monitor returns sales marketing softness our was one investment on expenses and margin structure a penetration our our as sales we in Sales to to based continued gross line
approximately We in continued position, and Steve? equity XX% a of our cash net income this quarter. returning of our dividend strengthen form while to the
