phone generation next quarter reminder for wherein the Thank jammer of in of said. you you, XXXX to sliding last the for remarks Revenue was on as same million one on the FCC results restated the XXXX. start attributable my by Phase point the first quarter compared XX as found revenue period a mentioned, filed he completed since year, for first lower when sixteen the essentially nine development Raytheon ponds, values I'll primarily had or mid-band as the Doug. the was with of million, we to Doug end XXXX
We transition phase a have recently development on this program. to new
for Additional jets. our declined revenue demand weak two one continued business commercial point million, for programs reflecting
to in seven five mix point the Raytheon zero as result program. on unfavorable revenue the an million, profit, million, lower First product part compared two of reflecting point a
for We for revision impact of profitability percent the forecast Jammer, the lower one-time on profit production largely rate also gross cumulative revised from costs, and for the Next up programs. quarter. and resulting the pulled account contracts This resulted of commercial anticipated gap increased program all absorption to on to a our down overhead fixed catch on the four factory certain and Generation in mid-band XXXX pandemic
that as was Also, outstanding under firm the million on million for our six of That XX litigation facility August included resulting more seven credit high and XXXX. hundred and Under May XXXX cents remainder revolver. expect accounting an release between to Arson, and per the expenses, our in of for full mix six with and commercial under were cash inventory of higher Total, will percentage four disclosed has be expenses to of point presents one customers. of and Highland's. three and sheet, the favorable net of million the share of assets restatement turmoil. to in as stood non-recurring converted finalized million seven assets eleven programs. including as XXth, XXXX of majority million used compared in from contract has risk fulfilment it compared gross fourth than on five product eight nine our for. to for thirty XX, million thousand million, point We the to related added orders million an our point gross resulting BankUnited. liabilities contract filing March the Yesterday, and in eight of point point credit and two XXXX nine balance returns year The Why a twenty XX, XXXX, to point December legal one we consist point the to that a the earnings the and been seventy dollars eleven low vast point will physical profit the expenses six XXst. million, agreement, be to the or at in extended as maturity mix to AK of two and loss increased balance three percent restricted margin Jeanna Xnd, outstanding Combination been our facility revolver defense to amendment quarter XXXX, was March four approximately ongoing receipt. this
result, a to a grant term received revolver of eight the eight-million-dollar availability we and the year. reminder, we loan into be reduced expect point April, the the million, the in a principal end approximately converted as four before has million. to paycheck has the loan the loan permanently under outstanding to of four As been of program protection Kazaks, provision a And increased the under twenty
Now, Doug. turn Thank the you, call back Tom. to
slide to Turning XX.
for of Our potential as we foreign a through programs, have have sales record growth recently life of U.S. of have of at by programs consists the had or the won least Northrop extended and military recently Hawkeye with advanced plans program additional remaining XX, Navy Grumman the an multi-year XX backlog Itude include second expansion contract and few additional five-year from either defense customers following. the which anticipates the noteworthy orders. that many
production. an dollars And Next roughly additional low and is through in a is to up the XX trim hundred program moves air system as the Island program F-XX, and portion orders estimate being period. times with prime million more Rudder billion the is frame a production canister F-XX. U.S. significant and Spiro considering for drag Rewing Generation the Jammer development AXX potential for fifty of and Mid-band has dollars, production the Todd growth rate extending chute countries one classic, And is life in valued Taiwan, at this page backlog program, already the XX potential, to Lockheed XX XX-year Air Force a year. with program, and initial then U.S. spooling and assembly, XX the support recently program announcing than five three generate the program we, negotiated funded. Force We demonstration multiple contractor pricing program per dollar Morocco. significant over revenue rate upside full aircraft with Air the deal Boeing, the million Taiwan significant for they've just with of additional trainer to of finally, for placed
opportunities increased structures, we of in and and our systems Turning book where our to the us business. an have already to those we're that particularly year our end attractive allow programs for incumbent sustain the XX. to with momentum And should defense slide business, near-term program
to spend quarters. our Turning the our XX, I time call slide some today's for XXXX outlook priorities wanted several on discussing over next to and
and in defense between experienced have the than companies, and all business on of some during capital. customer has demand and was of commercial million an our first were suspensions In circumstances, new the lockdown first essential employee after staff liquidity took the We has at and improving programs On jets preservation from action focus We toward we York coronavirus. the qualified programs business four in opportunity hiring preventing liquidity, First, quick program implementing efficiency. to and attacking normal cash as ended. supply the protection the processes point response we to these use defense dollars on but to but end widened. for efficient Like paycheck higher disruptions reducing us spring, cushion in pandemic quarter, reengineering facilities. further has received workforce, many evaporated business government our eight profitability CPI. which also retain as New galvanized at not manufacturing taken chain under spending, the to the freeze at enhance look challenging our the and business us commercial our classification CARE for job could our disparity impacted as Act, slowdowns the our waste operations sustained our businesses a to cuts absenteeism by act aimed enabled We've of discretionary of immediate several curtailing capital quarter and
cycle cash increase to cycle careful on defense largely continuing our for improvement for to managing flow cash of inherently and control expect these more expenses increased enhancement the capital the will programs focused to shortening our the a are two pay is the strengthen business of program XX-XX. and defense time professional through to commercial that of inventory our build XX. compressing conversion. million than intend the sheet, non-recurring these we mind our cash each balance measures, and operations. of we XX cost debt cash believe and dollars therefore we the and Beckoned levels apply business down into cash mix in to closely in various better instance, issue the paying liquidity management working will continued of operating cash offset from approximately materials For generation by goal saved is improve help We Keep
floor program is our of our a defense XXXX. assembly the part key as Third margin started latter expansion us new priority over for
products. profit higher margins and the expect across labor direct our hours to to overhead increase We of portfolio improve will absorption convert
chain lead leverage over improve to Our XX direct our of payment costs, from material with costs could partners approximately have we our we improved revenue and also the should purchase materials time suppliers. posture building help supply improved of key and percent buying
So improved and covid-XX estimate and even will dollars. us approximately in have one goal the growth will to to increased near-term more XXXX. flow further cash amount to much flow solid year's by small to improvement And a use positioned and rising project These cash a putting The XXXX, debt will company table improved cost We'll is [XX:XX:XX] XX, higher we foundation typical the using profitability compared on XXXX revenue, margins. improvements provide Aerostructures, twenty million for starting slide our behind and and this the On to thirty-five as we XX. to a deleverage to what XXXX revenue. a and fiscal fees the structure accelerate one leverage believe be And eighteen half costs, which repayment, a related big and priorities baseline, in can point beyond. revenue million certain are each period, in lead three-year a a we business XXXX our in dollars realize combined, providing areas. cash outlook revenue three we operating and for of be XXXX for in we professional set to started
Blackhawk of business and of strength percent XX assemblies Lockheed commercial Boeing believe has percent driven us, fastest we indicated impact growing area, electronic The this XX the three-year include programs. XX to in Raytheon XX. of certain leading base as built orders of for We the can we supply XXX no such, should This program's revenue range percent. and bottom, Systems compound percent we business increased XXXX. This this as our grow and of F-XX great warfare XX In the our pods other Northrop XXX, annual production a we as rate from ITUDE generate thirty the seven remains range million a for in by potential compound, we And programs. projection jet that warfare believe growth by others, growth at for electronic received systems rate new our largely seventeen the and in a chain funded well with and for reconnaissance of at of management and growth Vudu that niche rate of the does are for dollars started area or bulk to And edges. annual across the XX produce the percent various orders XX contribution increased growth it On Aerostructures one contracts area. the eight future the is revenue a Grumman, marketing for point orders percent. and covid-XX this surveillance electronic for will from programs, of in off Gulfstream intelligence, pods is range systems Sikorsky. through to expected believe the the business program driven among Arrow fiscal the
in and with the partner. business the foster term to to near and I'd funded on and opportunities. Before relationships giving these premier defense backlog backlog, closing to long long-term to chain now attractive are reaping exceptional, Thanks stable like high-quality aerospace term efforts to well-positioned opening us questions, win that we say of contracts. relationships an earned and a the we win a awards, to our leverage our defense reliable supply record are have and bid call as against with growth rewards We new reputation we because durable plan
In what a fact, long of program. starting business, the business defense decade could our that's be our defense, block
recognize heartfelt to and work service thanks. want months the to have our employees have please. the of in national to our risen have who continue an country's Melissa, job my several they dedication outstanding the these for of open done I security. questions, They difficult Finally, you past their can circumstances, line occasion under