ADI Returns To Growth, Back To 'Pre-COVID Levels'

Overview ** **********

******* ********* *** ******* in ** ******** ****, see **************************** ***************** ***** *******.

*** ********** *** **********, ***** ** *****,************************ ***** ******* **** last **** *** ** improvement **** *** **** few ******:

***** *** ****** ******* revenue *** ******** **** down ************* ******** ** last ****, ********* *** to *****, ** *** now ****** ********** *********** in *** ********.

***** ******** ************ **** month ******* *** ****** quarter, *** **** ***** were ***** **** **** in **** *&* *** ADI. ** ****** ******* on *** ********-******* ***** to *** ********* *** our ********. ** **********, we *** ********** *** reposition ** ******** ************ in ******* ****** *** in ********* ***** ** have ********* ************* **********, as **** ** ****** chain ******* *****.

**** ****, ****** *** returned ** ***-***** ****** over *** **** *** weeks ** **** *** ADI *** ******** & Solutions ********, *** ***** industry ****** ****** ** be *********.

Positive **********

**** ****** *** ***** month ***** *****-** **** sales ***** **** **** for ***, ****** **** ********** ********** ** "********* optimistic":

*** ********* ** ****, as *** *****, ** are ********* **********. **** was * ****** ***** for **** *** *** P&S, *** ** *** now ****** ********* ***** rates **** ***** **** year. ****** ******, ************ in *&* ******* ** be ****** ** *** user ****** ****** **** channel **********.

Overall ******** **

*** ***** ****** **** the** ******** ******** ******* ********* ** YTD ******* (****) *** profit (*****) ******* **** ADI *** ********* *****, as *** ********** ******* mid **:

***'* ** **** ******* fell ** *% *** profits ** **% ******** to **** ****, * "COVID-19 ******* ********" ** "branch ******** *** ******** or ********** ********** ******** in ***** ******** ******** in ******".

*** ******** ** ******* in ******* ***** **** from ** *** ***** being *** **** ******** by *****-**, *** ********* effects **** **** ****,*******'* *** **********:

*** *****, ***** ******* sales **** **** **% with *** **** **% and *&* **** **%. These ******* ******* *** impact ** *****-** *** other ******* *** ***** year ******* **********.

************, ******* ******** ******* and ***** ********* ****** an ******* ***** ** April *** ****** ****:

******* ******** ****** *** also ********** ******** ** reduced ******** ******* *** lower ***** *** *********.

ADI ****** **** *&*

*******'* *** *********, *******, why *** ******* ** have **** ****** ********** during *** **** *** in **** ****** ****** than *&*, ** * "well *** ********" **** took "* **** ******* response":

*** ** * **** run ******** *** ** chose ** **** * more ******* ******** ** COVID ** *** ******** to *&* *** *** functional ******

**** *** ******* **** there **** **** **** pay **** *** ******* layoffs ** ***, ***** was ******* ** ** the ****:

********** ***** [*****-**] ******* was ********* ********** **** management, ****** * ******** at ***.

*** ***** **-********, *******, affirm *** ******** ********:

********, ** ***** *** second ******* ***** ********** lockdowns ********* ** **** branch ********, *** *** sequential ******** *********** **** month ********** *** ******* and ***** ***** ******** rebounded ** ************ ****** and ******** ********.

*****, **% ** *** branches *** ***** **** and ********* *** ** our ******** *** **** when ********* ***** ***** modified ********** *** ******** pickup.

*&* ******* *** ******* fell **** ************* **** ADI's ***, ******* **** ***** **. *** ********* ***** side *** "********** ******** by ******* *** *** increased ******* ***** ******* to *****".

Reduced **** *** *******

******* ** *** ******* takeaway, *** *** ** report **** ******** ******* making *** $** ******* reimbursement *******:

** **** **, ** made *** ********* ********* $35 ******* ************* ********* payment, ** **** ** a $* ******* ********* licensing ********* ******* ** Honeywell. ********* *** ****** to ***** *** ** reimbursement ********* ******* *** an ********** ** **** through ******* **. ** remain ** *********** **** Honeywell, *** **'** ****** our ************ ****** ***** be *** ******** ************.

**** ***** ** **** as *******'* **** **** operations ********* $*** ******* year-over-year, ********* * ****** of "***** ******* ******* tied ** *** ******** in ******** ********".

*******, ** ** ***** noteworthy ** ******* ***** increased ******* ********, ******* and ************** ********, *** increased ******* ***** *** to "***** ****** ******** and *********** ***** ***".

******* ** *********** *** responsible ********* ******** ******* into ****, ******:

*** ******* ********* ** well-positioned ** ********** ** these ********. *** ********** announced ********* *** *********** review ** ** ***** to ******* $** ******* to $** ******* ** savings ** **** *** over $*** ******* ******** in **** *** ******.

** *** ** **** great ****, *** *** leadership **** ** ******* pursuing ********** ************* ** improve *** ******* *****, reduce *** **** *********, improve ******* *** ***** greater *** **** ******. These *********** *** ** their ***** ******, *** we **** ******* ** communicating **** **** *** as **** **** ** fruition.

Positive **** *** ******** *********

***** ***'* **** (****** $3 ******* ****** ******* last ****), *** *** performs ** * ***** proxy *** *** ******** as * *****, ************ in ***** *******, *** largest ******.

******, *** *** *** reduced *** ***** / temperature ********* *********, **** no **** ********** ** its ** **** **** today. ****** *** ********* results, **** ** * bullish **** **** *** believes ******** ** ********* to ******.

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