2023 Second Quarter Shareholder Report | Contents | | | --- | --- | | MD&A | | | 1.0 Preface | 2 | | 2.0 Caution regarding forward-looking statements | 2 | | 3.0 Our business | 4 | | 4.0 Strategy | 8 | | 5.0 Operating results | 9 | | 6.0 Financial condition | 17 | | 7.0 Cash flows | 19 | | 8.0 Liquidity and capital resources | 21 | | 9.0 Legal proceedings | 25 | | 10.0 Financial risk management | 26 | | 11.0 Critical accounting estimates and judgments | 26 | | 12.0 Accounting policies and new accounting sta ...

Operator Your next question comes from the line of Luke Hannan, Canaccord Genuity. Luke Hannan Glenn, I just wanted to dive a bit deeper into the POS trend. You mentioned that it's up slightly positively in Q2 so far. Just curious, when you look at your end-user demand, which sort of segments are driving that growth? And it sounds like also from your earlier comments that you are gaining share because the market overall is down below where you are trending. Glenn Chamandy Well, I would say that in the distr ...

2023 First Quarter Shareholder Report | Contents | | | --- | --- | | MD&A | | | 1.0 Preface | 2 | | 2.0 Caution regarding forward-looking statements | 2 | | 3.0 Our business | 4 | | 4.0 Strategy | 8 | | 5.0 Operating results | 9 | | 6.0 Financial condition | 17 | | 7.0 Cash flows | 19 | | 8.0 Liquidity and capital resources | 21 | | 9.0 Legal proceedings | 25 | | 10.0 Financial risk management | 25 | | 11.0 Critical accounting estimates and judgments | 26 | | 12.0 Accounting policies and new accounting stan ...

(all amounts are in U.S. dollars except where otherwise indicated) (1) Please refer to "Definition and reconciliation of non-GAAP financial measures" in this press release Gross margin of 32.6% in the quarter was up 340 basis points over 2021 due mainly to the impact of additional hurricane insurance recoveries recognized in the fourth quarter of 2022. Before reflecting the net impact of accrued insurance recoveries in both years, adjusted gross margin of 29.1% was down 150 basis points compared to 30.6% la ...