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These increases primarily reflect cost savings resulting from the company's operational excellence and ongoing continuous improvement initiatives, improved operating leverage, improved pricing discipline, increased sales and a lower charge for obsolete and slow moving inventory ( 1 million obsolete and slow moving inventory write-off in our California facility during the fourth quarter. The company conducted expanded assessments of customer shipments at certain of its locations for revenue cut-off; analyzed certain long-term sales contracts; analyzed pending litigation matters; analyzed leasehold improvements for proper classification and amortization; analyzed inventory reserves, including obsolete and slow moving inventory calculations and estimates; assessed non-U. |
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