• Net cash used in operating activities for Q1 FY2023 was $6.5M compared with net cash provided by operating activities of $19.8M in prior year − Decrease was primarily due to an increase in inventories • New Residential Construction End Market − Total housing starts were down 15.6% y/y during first quarter with around a 1.4M seasonally adjusted annual rate in December 2022 − Expect construction activity to pick up in the Spring relative to first quarter, which is typical seasonality of core products − For ...