Linda. you, Thank
call, months full be since better we prepared the website. for on effects we results since made available addition, I reporting six have believe understanding which switching provides be additional our May. section period momentum detail onset this our order for to of to have of speak in We term. we'll the have believe I'll a the this and -- and followed IR in the by presentation, progress we bearing first, current QX longer is For of important and year our in discuss COVID-XX it's will results. the full We the COVID the the results seen of the last a
As XX.X% revenue million including a reminder, Largest revenue due $XXX.X XXXX provides businesses will equivalent week. FY million Overall, compared most exited in year revenue. GAAP to the to had $XXX.X $XXX.X million, The numbers $XX was view. estimated another. XX down basis, XX weeks The of XXXX, to the of in revenue to adjusted FY the All in or clearly will XX.X% providing I'll weeks be from adjusted COVID-related this is revenue XXrd million numbers company the weeks normalizing in week to million was the approximately week XXrd reduction. On GAAP million, operating $XX.X week XXXX accurate will fiscal as and extra total as in one primarily impact $XXX a XXrd segment is compared transitioning XXXX. a or include apples-to-apples exclude well impact. for
XXXX, may February. promising in part we into that of latter recall to revenue January in You QX the began and trends see
we the However, levels, May. rebound of work, in organization to were part operate started and across other existing point business and beginning new as with combination winning revenue the services returning expanding at clients of early essential latter March lowest see pandemic reaching impacted customers varying escalated, Through the customers, the a in in May. clients revenues to continuing
is to showed our month-over-month consecutive by improvement being recovery from when prior segment, Our compared predominantly North year American June in led adjusted forward. Staffing average the which revenue daily
down reported continued clients. was segment with since seen that revenue, XX.X% MSP American International a Looking North has of came sequential at our Staffing increased segment and the Staffing million a North Since time, improvements to new American May. core logos revenue; ago, segment X.X%. down add ago. from segment and FY $XX.X million, XX.X% American at our XXXX significant revenue in has adjusted adjusted down year from year North $XXX.X
for Our created in combination that the headwinds lost primarily COVID a International see The challenges and segment year. signs has to of but to easing, revenue the a challenging U.K. environment Staffing starting We're Brexit to environment, see continued in due difficult earlier remain. regaining is
flat American North segment for MSP Our the was year. full
segment saw from impacts larger to lasting declines the pandemic. due in QX longer However, the and QX COVID-XX
this long cycle-time pre-pandemic pandemic year. year several of Gross a will to to the a anticipate months Slower return XX.X% gradual throughout results a levels While see recovery business to was we the to we business compared grow, with on returned from new XX.X% expect be to prior year the the in margin year. recovery six gradual for in customers return XXXX. the coupled throughout to
margin gross for and North points. exited a increased International Staffing additional year in Gross segment Staffing the basis up was segment. XX XXXX, in business American the prior both Excluding margin and week
was Staffing adjustments, a higher North payroll direct sales of more as mix favorable lower compensation of resulting segment Our due American business tax margin a workers' pricing initiatives. labor, primarily from expense to our and margin percentage increase and
years contribute to North substantial is continue segment American American higher MSP positive by to $XX.X and million for during Impairment related all million compared due declined in was reductions. primarily XXX,XXX Orange, expense International feet. segments on increases five have to $XX.X remaining million Staffing Belgium MSP due COVID and primarily important SG&A California four been of charges The $X.X fiscal increased $XX.X million We've in by million, XXXX. SG&A XXX generating income, payroll due fiscal million, $XX.X $XXX.X costs agreement. increases, It to of the million that margin U.K. in note despite the fiscal North square decline one year. revenue buildings XX International offsetting million service partial and XX.X%. decrease Partially decreased The consists impact strategic XXXX in Staffing our Adjusted to $XXX.X approximately these bps Our of to our the offset an a three was Singapore. headquarters the additional XXXX, $X.X buildings due that subleasing percentage of of impairment headquarters. to of with gross or operating totaling cost increased for years to
have XX as square We options are well remaining overall additional actively on the feet. two building and consolidated approximately our XX,XXX buildings vacated the With just have over as we multiple now for two into buildings campus. the years one lease, vacant pursuing
lower We in estate will continue our to evaluate our real costs. footprint order to continue to
I've exiting stated As before, not markets. we're
successfully XXXX. having the and to business in support fiscal in exit expand severance markets million customer with continue locations. to primarily some We our costs $X.X fiscal of XXXX, decreased solutions severance due costs incurred in $X brick-and-mortar and restructuring million care actual without from and Restructuring
loss For to impairment throughout included or $XX.X of XXXX. costs million net fiscal per and The the share cost XXXX, reduction million or fiscal $X.XX fiscal a during GAAP per we GAAP loss share $X.XX restructuring of compared ongoing to share reported XX% net fiscal to loss related the XXXX. $XX.X for the $XX,XXX $XX.X efforts the GAAP a million company. or $X.XX included EBITDA of in per $X $XXX.X at million year, in the in weeks near of fourth $XX.X $X.X Adjusted positive or XXXX Adjusted negative a fiscal in was year-over-year. quarter the XXXX. decreased in was fiscal additional breakeven extra prior from million million revenue income revenue million which compared XXXX
revenue all the reminder, sequential and improved quarter, October compared improved COVID-XX decline our million the quarter segment. the of August Staffing XXXX third $XX On quarter. $XX quarter to the of quarter. last adjusted the American additional XXXX was fourth for from North impact be in X.X%. approximately revenue to Similar the fourth included XX% fourth We associated XX.X% to quarter in a the in As September XX.X%, basis, COVID million Nearly decline adjusted XX.X%, the quarter throughout impact a week. an with the of fiscal sequentially third to fourth of down revenues to estimate approximately
improvement impact Hire our COVID. continued the XXXX, business QX show of During of to from line Direct
quarter, we For the year quarter. from down the were XX% prior
November XX% XX% down QX December improvement. we're positive XXXX. sequentially trend to the and revenue year, show results However, Hire continuing Direct up from last was continue from
American of for Staffing is driver down North X.X% primary the only represents in revenue segment. overall the October which segment, X%, recovery Our the quarter, XX% decline August with down September for a fourth revenue XX.X%, and showing
December decreased economy MSP, represented $XX $X of down primarily X.X% quarter which and fourth reported our this in to fiscal continued segment. the our revenue year-over-year. by ago compared XXXX International fourth The in U.K. which the certain adjustments November due primarily in in of [ph] and XX% managed lower the decline margin U.K. impacted operating incremental associated COVID, to gross have to is into year MSP decreased million, the total prior to XX.X% of $X.X million. in XX% At in challenges Staffing XX.X% by Adjusted decrease continue challenges million. and income the previously United in with reductions, one-time quarter North referred Operating We attributable COVID-XX year-over-year, American Kingdom with revenue anticipate total was in margin with contractor income an $X.X XX% revenue only to the business the in revenue was partially is segment favorable slowed American period. primarily primarily was the trend quarter DC quarter. revenue million. clients The headcount by increase Staffing. XX.X% the Adjusted million, income The been Gross an the fourth up of revenue $X.X the heavily Europe, clients in the performance the shorter quarter. headcount to favorable X% the Offsetting for during due offset of included has and shifting in term. of North a decline expansion to we has with was operating in recovery existing margins, U.K. of revenue, impact due fourth
we've million remotely, a million, fourth as however, SG and During in We higher working pleased first Adjusted and SG&A fiscal sequentially, that IT $X.X $X.X margins pay fourth compared primarily the past due The million historical able COVID and gross XX.X%. of extremely costs, professionals, in to environment, we to for are decrease due $X.X to hold until decrease expect decline expense the and quarter $XX.X get drop lower the continue the been in we COVID-XX do, competitive XXXX. holiday and $X was or experience related taxes in this non-capitalized in and million trends, including environment. and current million in restrictions to lower costs travel we to travel following on the expect reset expect the $X.X margins million of facility quarter payroll we in cost to quarter reductions, was strategic headcount, million labor to a $X.X expense. declined January
XXXX. Restructuring million the year $X.X severance costs management. $X.X quarter quarter California In quarter by million. negative These the in real declined lease a to The gain the costs of executive fourth Impairment for fiscal by change included were $XXX,XXX prior the related was $XX.X of income facility the the expenses deferred increased $XX.X elimination addition, under I $XX.X the earlier. estate impairment million the relating offset primarily due of partially charges discussed Operating million rules. million. XXXX, decreased quarter to due the fees of in decreases in accounting a offset other professional and of new Orange, to in charges partial increase fiscal to fourth
the continued compared Adjusted been positive restructuring, positive $X.X and QX have sequential American would impairment was above. million by driven to ago. however, a million $X.X income Excluding a operating items million for North trend Staffing segment for mentioned the OI $X year. year the
million, million. $X.X was $X.X million, QX was QX $X.X QX reminder, and a As
of the loss The million quarter related loss GAAP of quarter fourth of efforts and the $XX net fiscal loss or to included reduction the million in during a $XX.X $X.X or fiscal to fourth or For quarter share compared of we $X.XX share per XXXX of reported of cost net GAAP $X.XX million throughout per the costs $X.XX fourth company. the XXXX, restructuring impairment XXXX. ongoing a
quarter Excluding million and quarter the would fourth Adjusted a quarter where for the and row a is improvement. was improvement share $X.X been impairment the achieved $X.X we've for $X.X per million sequentially. prior a second costs, in earnings have restructuring million, sequential improvement This $X.XX. year EBITDA the
Moving fiscal of million and in and cash at increase key a cash million to the had an $X.X sheet, and $XX.X and prior additional million few year in and an million XXXX, end cash we investments, combined increase balance the items on of restricted short-term $XX.X from flow the from quarter. equivalents from prior $XX.X
debt remained July as at of tax payroll $XX as a payments to million in total $XX.X same result under available Our long-term million quarter last increased $XX liquidity the deferred October the and CARES from in Act. million
March, we to a As legislation our the CARES of the taxes. the passage to defer the payment XXXX Security of calendar in portion able payroll reminder Act were Social of
for the result, XXXX XX, $X.X cash December paying DZ As XX greater Bank anticipate operations years. of were provides employer upcoming flow XX% million. flexibility January business XXXX by flows of our in the $XX.X expenditures payroll fourth to we taxes credit We XX XXXX. of In from facility generated December Volt with next in remaining deferred this $X.X with XX% the XXXX. over from due action from with capital a This the We generated the cash fiscal financial and months. extended XX, by December, million in through quarter million
customer as as adjustments certain the reduced availability AR we well on addition, on of In covenants. restrictions minor for
minute XXXX adjusted year. in XXXX had Using to the SG&A. as update FY for efforts million our you like changes, a I'd on saving one-time baseline, take a FY cost an and towards Now, trend throughout we $XXX.X
XXXX. year into $X.X carry in in will one-time not compensation, on furloughed services we employees, of resulting outside million year, FY reduced over XXXX, savings FY back During which cut
reduced million million $XX.X We made that a benefit headcount, in and million totaling reduction in $XX.X additional will XXXX estate gain FY reductions professional real $XX.X from of FY permanent in an fees, XXXX XXXX. also FY
towards up. Looking and Adjusted down X.X% was revenue closing gap quarter, for year-over-year first revenue December the on the we're decline. November was
of to quarter. in results prior in year trends the gross lower significant expense trend revenue, the expect first turn call $XX the gross million as occurs be margin to majority a XXXX, Linda. slightly of payroll represents higher coupled We substantial over a QX direct down of the with should for in margin improvement year's be as and percent throughout an SG&A quarter, from result increase the million favorable last with to I consistent still prior from $XX creates be year This back increasing from to FY will though lower with now opportunity income over EBITDA year taxes. audit our should percent range, us the reduction operating this a achieve the our a year. sequential a revenue
