operator. you, Thank
everyone. Good morning,
for end participating quarter you our in conference call. year earnings and Thank fourth
I to historical that expectations and in be would future and forward-looking and addition investors like discussing future to review plans our business about statements financial reflecting opportunities. of statements facts our will cautioning we our disclosures performance participants
results maybe control and our forward-looking involve to materially. All differ of statements risks out and cause uncertainties, actual which may
and conditions, fluctuations factors Such management and market the risks competitive in our in magnitude landscape, contracts, other economic as growth, future changes introduction detailed in include of XX-K and timing important products and technology and of the XX-Q changes and filings. noted and of of new margins SEC
me fourth some starting highlight financials the quarter let with of With comparisons. that,
the fourth $XXX quarter fourth million fiscal last XXXX of of to compared quarter were as Orders $XXX year’s million. for
businesses of Transportation the large Most projects is attributable units. of to account-based Commercial, this quarter the timing in order International business in variability Live fluctuation and and Events,
fourth for the and Dubai projects included all from stadium orders fiscal XXXX quarter in Notable of transportation orders applications college U.S. upgrades, in number of the
a and trends high in stadium soccer Arabia, Europe, of larger video continuing in using million schools Saudi exceeding projects we $X the and markets a school in high couple the see applications.
sports sales our and and not contracts to sales As of contracts niche. account-based are a can amounts professional predict, reminder, repeatable venues, applications cause may dollar timing The and entertainment large fluctuations and from and projects, in of a size outside for business are significant the orders our we and large out-of-home and material these and Awards facilities, of derive amount transportation orders, our difficult in control. the earnings. be primarily their college portion from market timing of
the and fourth quarter the needs. Our schedules million the units of compared result relatively decrease various is Live as customer Recreation primarily orders $XXX the gross as timing quarter-over-quarter. as fourth last Events financial charges. XXXX transportation units cycles sales delivery comparables the business at and due and X.X% compared of to compared fourth International Total $XXX to were decreased the our sales was for business Commercial year’s Sales based the is year. fiscal to and in the of include sales needs. sales Other lower as warranty in X% customers’ profit The conversion decline of quarter in on Park and to business profit XXXX gross earlier. School percentage of based fluctuates units in as according business construction flat market of million percentage XX.X% last seasonally XX.X% a High dependent to year warranty a a for Net The also to sales quarter. the sports remained increased on percent increased and on fiscal and to
expenses. in $XX.X these million line. for of $XX a expenses through both fiscal which and costs in and for $X.X applications, administrative the the development sales a of activities X.X% Operating of our in for increase operating the due of display loss were for quarter sales to increased $X.X of the X.X% Operational million, was to increase site-specific to well. is for systems attributable XXXX. fourth personnel-related of to couple as fourth total primarily and primarily the percentage fourth expenses as in working percentage of compared as increases quarter quarter the personnel-related control was fourth $X.X through believe million are of not XXXX do expenses We product XXXX. compared a expenses quarter fiscal million of income selling General The million as due which also increased planned product $X.X operating and XXXX issues of to million
the Now, for Orders and Recreation were million International full Orders business High in School turning units the increased over $XXX Park year-over-year fiscal fiscal as comparisons. to in XXXX XXXX. compared Transportation $XXX marketplace. to and and but Order decreased in to changes of Commercial, – usage timing demand have be due Live demand to to Events primarily digital business in and units. of technology, are continues continue the million
including during Park universities. followed of sales primarily or orders timing units. increase type schedules. national Sales orders million attributable similar as was High no Recreation’s related both hockey sports and multimillion application orders production, the increase the in account-based to $XXX and increase of production related is order Park net and and professional the year solutions to projects to of orders year. Live stadiums new variability delivery Events project High across in timing transit related and the Recreation by on-premise result School included mainly out-of-home on-premise a International units applications School net sales a sales increase large net in colleges addition large for account as an Gross project Commercial profit arenas, market for upgraded the impacted an Transportation applications and Transportation’s commercial across and by for of and increase our business year. sales sales to sales Transportation, remains projects fiscal spectacular in In as in the in due for compared Net Park XXXX. professional of last continued notable fiscal the sport professional over-the-roadway and to orders and year-to-date fiscal sales. as demand geographies lower ‘XX project multiple in and the to dollar of in the market conversion fiscal and colleges in niche. net of in Live was $XXX orders order XX.X% increase universities in in Europe. the increased XXXX. decreased the and messaging of international basis sports niche margins included mentioned, U.S. out-of-home strong, decreased market, and lower orders to increase for their timing market were customer in were demand XXXX out-of-home sales offset national volumes FY and increase with ‘XX, in was for increased in changing Commercial International Events, business both larger warranty out-of-home arenas, FY systems order in X.X% the a projects. the fiscal baseball million soccer on a sales for for niches and mass upgrades Gross for and High X.X% to and School demand increases Recreation project already from in spectacular compared XXXX an percent orders. In at XXXX net volatility in recurring and
expenses by focused During $X.X receivable And velocity for the our market. for defect and offset of display the Operating control general primarily of written customers’ additional development million product million $X.X resources incurred product cost personnel-related increased expenses relationships. or historical and the to of increase deployment issues on. Selling $X.X year, the $X.X X.X% site and specific development choosing we and increased on a to X.X% for expenses administrative around recoveries or X%. for previously or solutions year million preserve on million provide to coverage increased of additional due to
accounted of change The XXXX. This the deferred approximately for act tax impact Our for to XX.X% tax share due the our to Act from per the our changes year assets tax of the other revalue change enactments Cuts with XX% of due rate to loss year was tax to of the U.S. fiscal and during changes. rate overall Tax Job effective the XXXX. U.S. XX%, during along $X.XX the
taking future U.S. tax research account the approximately geographic rates. and rates, an expect to and other tax for tax we ahead rate state benefits of years, new tax of development Looking credits expected and estimations into XX%, the
noted, previously in tax on mix our effective and of tax As income. depending the we changes rate geographic fluctuate can the legislation taxable have
a and capital end demonstration marketable cash increase in positive result the year Primary payables inventory of uses $X.X positive liabilities this in million included flow flow and position development to last the infrastructure. differences research new for equipment We information a of and $XX.X $XX.X as the payments in capital compared tax XXXX. million spending cash reported and million free products accounts for of equipment, increase fiscal Our and million timing quarter. manufacturing operating income assets The facilities, and reduced cash year. equipment as cash free for in and primarily technology free securities compared was of to $XX.X fiscal testing for of fluctuation XXXX flow and at was the
fiscal for We repurchases expect fiscal less of expenditures and $XX than to XXXX no made we during million capital XXXX. stock be
is backlog going Our the backlog $XXX quarters. realized few projected be the million Much this coming over into quarter. to first of is
‘XX NFL stadiums XXXX. as for than science to of fiscal somewhat quarter be in with first no the we the We similar expected expect in XXXX of sales first less number completed projects quarter a XXXX
change call for Kurtenbach, and CEO Of year the to President commentary turn could Chairman, Reece bookings and projects the will course, schedule now over sales customer I changes. outlook. and pending our on
