We expect the inventory reduction at distribution to continue during the current quarter.
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Management ascribed half the shortfall to an inventory reduction at Sprint Nextel, the customer that pays the most for its phones and is having merger consolidation issues of its own.
Selling, general, and administrative expenses as well as manufacturing fixed costs were kept well under control, while the quarter was burdened by temporary inefficiencies related to the volume drop and an inventory reduction.
First, you'd see more of an inventory-reduction-driven rebound in activity.
The reduction in inventory liquidation has been key to economic growth starting in the second half of 2009.
The revenue levels of our two unreported quarters were lower than previous revenue results due to significant discounting and the reduction of channel inventory in Q3.
And the result has been the reduction of the residential home inventory to only 4.5 months of supply.
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The company added that cash to be realized from the reduction in accounts receivable and inventory from its recently closed Devens, Mass.
That's not the end of it--the up to 30% reduction does not include an inventory problem that was announced earlier in the week.
But there were hints of efficacy: a 20% reduction in how fast patients declined on a different version of the ADAS-cog, and a 19% reduction on the Activities of Daily Living Inventory.
These statements are likely to address matters such as the company's future financial condition and performance (including earnings per share, profitability, liquidity, cash flows, debt levels, market share growth and other sales information, inventory levels and capital expenditures), its cost reduction initiatives and plans for store closings, and the expansion of product categories, including eBook content and eReaders.
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When the mild patients from both studies are pooled together, the benefit of ADAS-cog is still significant, at a 34% reduction, and the benefit on the daily living inventory comes close to being statistically significant, a 17% decrease in how much worse patients got.
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