What changed
Revenue was $496M, down from $546M a year ago. Net loss was $9M. Gross margin expanded 150 bps to 18.6%, driven by stronger equipment margins from reduced aged inventory and a higher mix of parts and service revenue.
Why it matters
Revenue was $496M, down from $546M a year ago. Net loss was $9M. Gross margin expanded 150 bps to 18.6%, driven by stronger equipment margins from reduced aged inventory and a higher mix of parts and service revenue.