off Hi of the everybody. Thank very for you taking time the your beginning much day. joining morning, in this us
a and we is strong had we strong we are X% very even best still quarter year, quarter, about. a ever have quarter last which that about quarter are them, This proud we though quarter, similar a the above
We and but gross last half a a down, margins they're a XX%. year half on have similar year The adjusted quarterly, up margins quarterly. they're up, to On bit year, on gross negligible. the to that's
the turnaround plan us believe because million. a And cash the and this down. next more important lead than years, cash X, to reduction burn to as we business in $XX have aiming to on fast we cash XX% expense for way are model our cash year, and down the and a as but everything a of we else implemented is from fulfill should business at X because this is XX% positive plan possible, down -- And not result business cash don't of because we the was flow positive quarter and X the we're to plan profits burn first our -- $XX that of million a
what between the Electronics and Innovative repeating announced before, System which partnership into very integrate some important Inspection the Metal, Integrated We product printing our but are and industry. also lines very announced updates, and I've and all important Additive before, we products as the said, Desktop and have we digital somewhat business what wider of Fiery, we it's announced GIS, very, Esko-Graphics acquisition
slides allowed you customer many If couple just watch many, of a sensitive is up of next reason because I our bring didn't names the names X now The brought to from the kind -- the publishing highlights of many one. is product more are customers not of are lines. why we name. our here to
they are name some but them of them space want which industry, of in computer are other major industries of like the to -- industry, industry, defense computer Some in appear. industries some computer, in are them the players their in don't
So I X have here tell today that that -- between came to just XX we X we customers quarter, around agencies, close can to X, you of the new Western already us. X-letter beyond this they customers XX. of world, service agencies, as customers which Armies, them between Western, are agencies the to call these X-letter ours are only they X secret
venture our Germany, which contractor -- mutual have from world, investment. our Europe, partner just defense X, serious And a from the customers, HENSOLDT around of X largest in about the some probably we big them is from joint not
of now group slowly, forefront are we ] slowly [ the every on So dozen customers. appearing of industrial
the of years not Industry in we Additive in gentlemen, the of -- last important is year in are X company a you're the over Industry Desktop Efficient because Efficient the so sorry, is and very X.X, of title. of X.X, Manufacturing to between that data If there, this our the an looking which the much data not slide, because slide appears industry. creating last ladies the
We reason pile which where that is Additive are and X.X. in is we converting to you we an in be industry The Manufacturing are be, industry manufacture believe industry industry an into we'll of The the technologies. traditional are industry and Manufacturing aiming industry, digital regular X.X. is a Additive we we and is digital show will and not a an machines,
this a As computer you CNC for industry. used the numerical digital be edge a And it numerical very Additive are start Technology to before technology, product, not called also very, technologies. vision, an bringing part not and if that result grow be reduction, in expand, in you device, computer of example, and And as was control, advanced see it end an will also It to take our but player machine, a Manufacturing a we control numerical That's Additive in to these control. also only is we it's important. very creating except Reductive will industry. one machine
R&D Additive the industry, year manufacturing products billion billion shouldn't the an the the again, Industry it a to and reasons who of I machines, technologies. should the of people only are Manufacturing who pile using $XX manufacturing, One $XX a is the those machines. call I machines. of using are developing machines billion technologies of $X $X But products by about and doing to out people billion, technologies billion not is call $XX that billion are $XX is probably and it and the considered for to sell selling is the manufacturing
do or in of who XX% materials. do X/X do the build and invest people of R&D So market are market not that the manufacture machines not not
money. machine manufacturing not making The and who manufacture the people and the of in industry, portion people machine, am at many into ago when are aviation speaking who look are losing you commercial the manufacturers. of were XX% people of are money, is circumstance, and machines the products. it us, our years developers products normal to may that hold get the flying the about them the That's whether manufactured manufacturer our the materials developing airlines the using an industry, And aircraft, are and cannot I get can And the are users machines sure fly the situation. look here. a that there normal are consolidate. [indiscernible] I And who the enough not economy a of analogy the the aircraft, of you if example aircrafts manufacturers
them name [ Douglas. Douglas that the become them and everybody other them, McDonald manufacturers, And of Airbus and and up the manufacture you is X to has enable profitable and and going the I'm not have be Boeing, and money. regulation in because there ] on remembers Today, and of reduced every XXX industry, to enabled industry. that the consolidated players commercial machines companies sure but in and who airline not our losing products rest XX% ending in down airline McDonald, them, are the will and would one could definitely happen the was to the profitable, actually they money be people before early the many manufacturing product realized survive own. it everybody name at game, Comet I who will That not more, their think making it not all what's X, of and is least are
years Metal slide because long step and did our smaller ones slide, them deal, next of for before waited describe this not proposals statement X for you is all their going of out about shareholders were is gentlemen, come we one Desktop one for the first the X lines. first lowest -- concerned in Think X time proxy Metal, because them. those acquiring we step. it. for the but to X proposal, that we [ that Metal, and The last hold Desktop of It's our read before last the which is Desktop them We of The our ] is unacceptable. we the if the gave took went big to acquisitions, over Ladies a proposals totally the acquire totally prices were acquisitions and with we proposals. whack acquisition. which process
Traditionally, We at price, until price growing companies reduced new your get it, Well, make your in we you the you that valuations not shrunk money every the it. market here increase and did get because right house not on is because and you don't when for the bid opposite. the make increase we're you pace. price you proposal a the
of waited time in start moment So this to companies. acquisitions larger for the the we
just some million next the we drive are growth reset portfolio. The believe we ] close to million, met close Metal. slide or drivers overnight. being it business And positioned gentlemen, we metal, has from of being is potential -- trail. positions technology that us $XX that shows to [ into million be with it $XX Even profitability. or do where you these -- $XXX to compared and will the all takes we once with But are acquisition acquisition a model positioned Desktop broadest didn't finish million us ladies graph in the high $XX And and to level being this
slide as ] And X.X, going earlier, out higher-margin next industry interest I a necessarily [ little mentioned be Material Manufacturing develop to materials. AM. of bit how digital venturing only The premium hub portfolio of we and points Machine discusses it's Additive CFIUS Additive into not
on is driver industry in and software tools is industry, focusing for and X.X. efforts we you AI the this see just R&D digital are major of AM believe here, materials one we So after the And on that.
Desktop wish, that is we reason that Next a Metal for merger good actually, slide the such us. the you believe discusses transaction with if the
which see in [indiscernible] is overlapping, bit business, we are consumer nonoverlapping, after electronic overlap You the the business distribution that a are verticals go-to-market, that and all overlapping. and see PCB they the go middle, of and XX% little our is you product otherwise
the customers. You list impressive of side, a right see on
little PCC By get of the are the gives left, segments months mass designs. month production. of and where mass is solution there. of bit We're million a can say, on the we remote-controlled of not a to towards volume bit solution customers not going variety It's of ] it And [ high way, the talking amount get of them We're [ misleading. kind [ of little as us. a ] shouldn't we you about manufacturing of both apply and XX a much TV the many manufacturing into taste medium I ]. high, and
of So variety of And lines. in are a It's role. industry change product that of mix, major a where designs, called manufacturing industry volume. were a we their but lot millions, high product to digital will lot in manufactured that's not play low any the needs lines --
whole it when the One, is shares industry quarter, undervalued acquired in cash. our you the We per cash People us will their earnings that's share this ourselves details. rest industry published asked before, more the acquisition Metal. market -- I Desktop share being bad shares value share pay them. dilutive it's remind why dramatically That's undervalued, share. that won't were about is it's to the you it all because they hundreds but and bought per share spend to whole it when shares? our companies more X.X% this it the up the talking you, of to reason it sure moreover, just think that The also answer very to percent. underprice made mentioning, with don't corner getting By all some and using the not in X: X.X% you undervalued. we're X.X%, just But and because believe see this reason reduce And value is so or change. remember It's transaction. then earning undervalued buying shareholders. worthwhile of I'm of is it's was the is Lastly, XXX% because the sense the And obviously of our attitude come it's a and value I'm of far, to And why yet we have because we less earnings called it from fact corner
depends like with million is the is is getting please. and ] on close both certain the of [indiscernible], mostly Total consideration process by expected authorities vote Desktop finishing we'll the where to in vote, we'll Operator? to And closing regulatory end [ shareholders, $XXX the shareholders them. approval and to American at be between right million, questions the it's the hopefully, process condition year. now. you a the Metal ask to point answer This shareholders able and $XXX Operator,
