Sep. 23 at 8:12 PM
$MLKN
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Net sales of
$961.8 million, up 8.2% as reported and up 7.8% organically, year-over-year
Orders of
$1,036.8 million, up 11.1% as reported and up 10.7% organically, year-over-year
Gross margin decreased 40 basis points, primarily from approximately
$7.0 million of tariff-related cost increases in the quarter, offset in part by the benefit of leverage on higher net sales
Consolidated operating expenses decreased to
$321.9 million
Consolidated adjusted operating expenses increased to
$305.0 million, driven primarily by higher variable incentive compensation costs and higher selling expense from the higher sales volume
Special charges of
$16.9 million:
$10.6 million of restructuring charges, primarily related to workforce reductions
$6.3 million of purchase accounting amortization
Operating margin of 5.7%, compared to 2.7% in the prior year
Adjusted operating margin of 7.5%, compared to 8.3% in the prior year
