Helios Technologies reported excellent quarterly results with total revenue exceeding expectations and expanding gross margins. The company generated $36.7 million in cash from operations and reduced net debt-to-Adjusted EBITDA to 2.0x.
Net sales grew $3.3 million sequentially to $122.6 million compared with trailing second quarter.
Electronics sales up 42% over trailing second quarter to $24.4 million.
Gross margin expanded 50 basis points over prior-year period to 38.3% on lower volume demonstrating improved operational efficiencies.
Generated $36.7 million of cash from operations and reduced net debt-to-Adjusted EBITDA to 2.0x.
The Company expects revenue to range from $485 to $495 million for the full year 2020 and Adjusted EBITDA margin to be approximately 22% for the full year 2020.
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