demand for large volume orders has been at relatively low levels during the past several years . the main driver of demand in this market is capital spending in the chemical processing sector driven by end‑user demand for housing , automotive , energy and agricultural products . the chemical processing market is sensitive to oil prices , currency fluctuations and fiscal policies as well as world economic conditions and gdp growth . increased sales to the chemical processing industry in fiscal 2018 were related to improvement in global spending in the chemical processing sector . additional drivers of demand in this market were the increase in north american production of natural gas liquids and the further downstream processing of chemicals that may utilize equipment that requires high‑performance alloys . sales to the industrial gas turbine market have declined each year from fiscal 2014 to 2018. the collapse of oil prices in 2014 had an adverse impact on small-frame industrial gas turbines used to power oil platforms and transmission systems . as oil prices have moderately recovered , demand has shown improvement in the small-frame turbines . reported significant overcapacity in large-frame turbines primarily used for electrical generation combined with growth in renewable energy facilities has taken a toll on demand for large frame gas turbines . two of the large oem producers of large-frame turbines have reported weak demand and announced restructuring plans in their power generation businesses . while this period of weak demand is not expected to recover quickly , management believes that long‑term demand in this market will stabilize due to higher activity in power generation and alternative power systems . industrial gas turbines are favored in electric generating facilities due to low capital cost at installation , fewer emissions than traditional fossil fuel‑fired facilities and favorable natural gas prices provided by availability of non-conventional ( shale ) gas supplies . as the large-turbine overbuilt situation improves , demand for industrial gas turbines is expected to increase . volume shipped into the other markets category increased from fiscal 2014 to 2015 , then moderated in fiscal 2016 and improved in both fiscal 2017 and 2018. sales to this market in fiscal 2015 included some high-value special application projects with high average selling prices per pound . the industries in this category focus on upgrading overall product quality , improving product performance through increased efficiency , prolonging product life and lowering long‑term costs . companies in these industries are looking to achieve these goals through the use of “ advanced materials ” which support the increased use of high‑performance alloys in an expanding number of applications . in addition to supporting and expanding the traditional businesses of oil and gas , flue‑gas desulfurization , automotive and heat treating , the company expects increased levels of activity overall in non‑traditional markets such as fuel cells and alternative energy applications in the long term . planned equipment outage and upgrade the company is undergoing a significant planned equipment outage and upgrade in the company 's cold-finishing production area during the first quarter of fiscal 2019. certain components of one of the three annealing lines will be down for a planned upgrade which began in mid-october 2018. the duration is expected to be ten to twelve weeks , with the upgraded annealing line put back into service at the end of december 2018 or early january 2019. the additional capital expenditure related to this outage is approximately $ 2.0 million . this outage is necessary to attain the higher capacity levels expected from the company 's recent capital investments . production levels through the cold-finishing production area before the upgrade were at 13.5 million pounds , and the upgrade is expected to increase capacity to 18.0 million pounds . this outage is expected to have a significant impact on the company 's financial results in the first quarter of fiscal 2019 , with reduced revenue and reduced profitability to below breakeven . however , once complete , this line is expected to be one of the key drivers to revenue growth and strengthening profitability over the balance of fiscal 2019. summary of capital spending capital spending was $ 15.0 million and $ 11.1 million in fiscal 2017 and 2018 , respectively , and the forecast for capital spending in fiscal 2019 is approximately $ 16.0 million . the $ 16.0 million of planned capital spending in fiscal 2019 includes the completion of bright annealing upgrades of approximately $ 2.0 million . strategic acquisition activity growth through strategic acquisitions is an important part of the company 's overall strategy to increase shareholder value . during the third quarter of fiscal 2018 , we recorded an expense of $ 1.5 million related to certain legal 34 and due-diligence costs incurred in a strategic acquisition initiative that reached late stage negotiations , but ultimately did not result in an executed purchase agreement . the company remains committed to pursuing alternative strategies to increase shareholder value and strengthen the company . chief executive officer transition during the third quarter of fiscal 2018 , mark m. comerford informed the board of directors of his intention to retire as president and chief executive officer and a director of the company . effective as of may 29 , 2018 , the board of directors appointed michael l. shor as interim president and chief executive officer of the company . effective september 1 , 2018 , the board of directors unanimously appointed mr. shor as the company 's president and chief executive officer . in connection with his interim appointment , mr. shor resigned as a member of the corporate governance and nominating committee of the company 's board and then , upon accepting the permanent position , mr. shor stepped down from his role as chairman of the board but remains a member of the board . robert h. getz , a director of the company since 2006 , has been elected by the board to replace mr. story_separator_special_tag selling , general and administrative expense was $ 47.1 million for fiscal 2018 , an increase of $ 4.7 million , or 11.1 % , from $ 42.4 million in fiscal 2017. the significant drivers of the increase in fiscal 2018 included two events that took place during the third quarter of fiscal 2018. first , expense of $ 1.5 million was recorded related to certain legal and due diligence costs incurred in a strategic acquisition initiative that reached late stage negotiations but ultimately did not result in an executed purchase agreement . second , expense of $ 1.3 million was recorded related to the retirement of the company 's chief executive officer . a portion of the increase in cost was attributable to higher management incentive compensation expense of $ 1.1 million and $ 0.5 million of increased bad debt expense . as a result of the above-mentioned charges , selling , general and administrative expense as a percentage of net revenues increased to 10.8 % for fiscal 2018 compared to 10.7 % for the same period of fiscal 2017. research and technical expense . research and technical expense was $ 3.8 million , or 0.9 % of revenue , for fiscal 2018 , compared to $ 3.9 million , or 1.0 % of net revenue , in fiscal 2017. operating income/ ( loss ) . as a result of the above factors , operating loss in fiscal 2018 was $ ( 3.2 ) million , compared to operating loss of $ ( 16.5 ) million in fiscal 2017. income taxes . income tax expense was $ 17.7 million during fiscal 2018 , a difference of $ 24.7 million from a benefit of $ 7.0 million in the same period of fiscal 2017. the higher tax expense for fiscal 2018 as compared to fiscal 2017 is primarily attributable to the passage of the tax cuts and jobs act during fiscal 2018 , which required the company to revalue its deferred tax assets based on the lowering of the statutory tax rate of 35 % to 21 % ( 24.5 % in fiscal 2018 ) . the section entitled “ impact of the tax cuts and jobs act on deferred tax assets ” and note 6 to the consolidated financial statements in this annual report on form 10-k for the year ended september 30 , 2018 set forth additional information regarding the impact of the tax cuts and jobs act . net income/ ( loss ) . as a result of the above factors , net loss for fiscal 2018 was $ ( 21.8 ) million ( which includes a $ 20.9 million impact of the tax cuts and jobs act and other special charges ) , an increase of $ 11.6 million from net loss of $ ( 10.2 ) million in fiscal 2017 . 41 year ended september 30 , 2017 compared to year ended september 30 , 2016 ( $ in thousands , except per share figures ) replace_table_token_15_th 42 the following table includes a breakdown of net revenues , shipments and average selling prices to the markets served by the company for the periods shown . by market replace_table_token_16_th net revenues . net revenues were $ 395.2 million in fiscal 2017 , a decrease of 2.7 % from $ 406.4 million in fiscal 2016 , due to a decrease in average selling price per pound partially offset by an increase in volume . the average product selling price was $ 20.30 per pound in fiscal 2017 , a decrease of 4.7 % , or $ ( 1.01 ) , from $ 21.31 per pound in fiscal 2016. volume was 18.1 million pounds in fiscal 2017 , an increase of 0.8 % from 18.0 million pounds in fiscal 2016 with increases in the aerospace , chemical processing and other markets . the average product selling price per pound decreased as a result of pricing competition and lower levels of specialty application projects , which decreased average selling price per pound by approximately $ 1.35 , and a lower-value product mix , which decreased average selling price per pound by approximately $ 0.43 , partially offset by higher raw material market prices , which increased average selling price by approximately $ 0.77 per pound . sales to the aerospace market were $ 192.5 million in fiscal 2017 , a decrease of 2.5 % from $ 197.4 million in fiscal 2016 , due to a 3.9 % , or $ 0.88 , decrease in the average selling price per pound , partially offset by a 1.5 % increase in volume . the increase in volume reflects solid aerospace demand especially with respect to new generation engines . the average selling price per pound decrease reflects an increase in pricing competition and a change to a lower-value product mix , which decreased average selling price per pound by approximately $ 1.03 and $ 0.63 , respectively , partially offset by a change in market prices of raw materials , which increased average selling price per pound by approximately $ 0.78. sales to the chemical processing market were $ 70.5 million in fiscal 2017 , a decrease of 2.6 % from $ 72.3 million in fiscal 2016 , due to a 13.2 % , or $ 3.40 , decrease in the average selling price per pound , partially offset by a 12.3 % increase in volume . volumes increased in fiscal 2017 from very low levels . the decrease in the average selling price per pound reflects a change to a lower-value product mix and increased pricing competition , which decreased average selling price per pound by approximately $ 2.69 and $ 1.16 , respectively , partially offset by higher raw material market prices , which increased average selling price per pound by approximately $ 0.45 . 43 sales to the industrial gas turbine market were $ 61.5 million in fiscal 2017 , a decrease of 9.6 % from $ 68.1

liquidity and capital resources comparative cash flow analysis ( 2017 to 2018 ) during fiscal 2018 , the company 's primary source of cash was cash on‑hand and the revolving credit facility which was temporarily drawn against in the fourth quarter of fiscal 2018 , however paid back to zero by september 30 , 2018. at september 30 , 2018 , the company had cash and cash equivalents of $ 9.8 million , inclusive of $ 7.3 million that was held by foreign subsidiaries in various currencies , compared to $ 46.3 million at september 30 , 2017 . 44 net cash used in operating activities was $ 13.7 million in fiscal 2018 compared to net cash provided by operating activities of $ 13.1 million in fiscal 2017. the cash used in operating activities during fiscal 2018 was driven by increases in controllable working capital ( inventory , accounts receivable , accounts payable and accrued expenses ) of $ 32.3 million ( excluding the impact of foreign exchange ) compared to cash used of $ 2.8 million in fiscal 2017 , as well as higher pension contributions of $ 8.8 million as compared to $ 6.8 million during fiscal 2017. additionally , the absence of cash provided in fiscal 2018 from restricted cash contributed to lower cash generated in fiscal 2018 as compared to fiscal 2017 of approximately $ 5.4 million . these factors were partially offset by income generated from operations excluding the impacts of expense that do not impact cash such as depreciation and amortization expense , pension expense and income tax expense .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources comparative cash flow analysis ( 2017 to 2018 ) during fiscal 2018 , the company 's primary source of cash was cash on‑hand and the revolving credit facility which was temporarily drawn against in the fourth quarter of fiscal 2018 , however paid back to zero by september 30 , 2018. at september 30 , 2018 , the company had cash and cash equivalents of $ 9.8 million , inclusive of $ 7.3 million that was held by foreign subsidiaries in various currencies , compared to $ 46.3 million at september 30 , 2017 . 44 net cash used in operating activities was $ 13.7 million in fiscal 2018 compared to net cash provided by operating activities of $ 13.1 million in fiscal 2017. the cash used in operating activities during fiscal 2018 was driven by increases in controllable working capital ( inventory , accounts receivable , accounts payable and accrued expenses ) of $ 32.3 million ( excluding the impact of foreign exchange ) compared to cash used of $ 2.8 million in fiscal 2017 , as well as higher pension contributions of $ 8.8 million as compared to $ 6.8 million during fiscal 2017. additionally , the absence of cash provided in fiscal 2018 from restricted cash contributed to lower cash generated in fiscal 2018 as compared to fiscal 2017 of approximately $ 5.4 million . these factors were partially offset by income generated from operations excluding the impacts of expense that do not impact cash such as depreciation and amortization expense , pension expense and income tax expense .
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 Suspicious Activity Report : demand for large volume orders has been at relatively low levels during the past several years . the main driver of demand in this market is capital spending in the chemical processing sector driven by end‑user demand for housing , automotive , energy and agricultural products . the chemical processing market is sensitive to oil prices , currency fluctuations and fiscal policies as well as world economic conditions and gdp growth . increased sales to the chemical processing industry in fiscal 2018 were related to improvement in global spending in the chemical processing sector . additional drivers of demand in this market were the increase in north american production of natural gas liquids and the further downstream processing of chemicals that may utilize equipment that requires high‑performance alloys . sales to the industrial gas turbine market have declined each year from fiscal 2014 to 2018. the collapse of oil prices in 2014 had an adverse impact on small-frame industrial gas turbines used to power oil platforms and transmission systems . as oil prices have moderately recovered , demand has shown improvement in the small-frame turbines . reported significant overcapacity in large-frame turbines primarily used for electrical generation combined with growth in renewable energy facilities has taken a toll on demand for large frame gas turbines . two of the large oem producers of large-frame turbines have reported weak demand and announced restructuring plans in their power generation businesses . while this period of weak demand is not expected to recover quickly , management believes that long‑term demand in this market will stabilize due to higher activity in power generation and alternative power systems . industrial gas turbines are favored in electric generating facilities due to low capital cost at installation , fewer emissions than traditional fossil fuel‑fired facilities and favorable natural gas prices provided by availability of non-conventional ( shale ) gas supplies . as the large-turbine overbuilt situation improves , demand for industrial gas turbines is expected to increase . volume shipped into the other markets category increased from fiscal 2014 to 2015 , then moderated in fiscal 2016 and improved in both fiscal 2017 and 2018. sales to this market in fiscal 2015 included some high-value special application projects with high average selling prices per pound . the industries in this category focus on upgrading overall product quality , improving product performance through increased efficiency , prolonging product life and lowering long‑term costs . companies in these industries are looking to achieve these goals through the use of “ advanced materials ” which support the increased use of high‑performance alloys in an expanding number of applications . in addition to supporting and expanding the traditional businesses of oil and gas , flue‑gas desulfurization , automotive and heat treating , the company expects increased levels of activity overall in non‑traditional markets such as fuel cells and alternative energy applications in the long term . planned equipment outage and upgrade the company is undergoing a significant planned equipment outage and upgrade in the company 's cold-finishing production area during the first quarter of fiscal 2019. certain components of one of the three annealing lines will be down for a planned upgrade which began in mid-october 2018. the duration is expected to be ten to twelve weeks , with the upgraded annealing line put back into service at the end of december 2018 or early january 2019. the additional capital expenditure related to this outage is approximately $ 2.0 million . this outage is necessary to attain the higher capacity levels expected from the company 's recent capital investments . production levels through the cold-finishing production area before the upgrade were at 13.5 million pounds , and the upgrade is expected to increase capacity to 18.0 million pounds . this outage is expected to have a significant impact on the company 's financial results in the first quarter of fiscal 2019 , with reduced revenue and reduced profitability to below breakeven . however , once complete , this line is expected to be one of the key drivers to revenue growth and strengthening profitability over the balance of fiscal 2019. summary of capital spending capital spending was $ 15.0 million and $ 11.1 million in fiscal 2017 and 2018 , respectively , and the forecast for capital spending in fiscal 2019 is approximately $ 16.0 million . the $ 16.0 million of planned capital spending in fiscal 2019 includes the completion of bright annealing upgrades of approximately $ 2.0 million . strategic acquisition activity growth through strategic acquisitions is an important part of the company 's overall strategy to increase shareholder value . during the third quarter of fiscal 2018 , we recorded an expense of $ 1.5 million related to certain legal 34 and due-diligence costs incurred in a strategic acquisition initiative that reached late stage negotiations , but ultimately did not result in an executed purchase agreement . the company remains committed to pursuing alternative strategies to increase shareholder value and strengthen the company . chief executive officer transition during the third quarter of fiscal 2018 , mark m. comerford informed the board of directors of his intention to retire as president and chief executive officer and a director of the company . effective as of may 29 , 2018 , the board of directors appointed michael l. shor as interim president and chief executive officer of the company . effective september 1 , 2018 , the board of directors unanimously appointed mr. shor as the company 's president and chief executive officer . in connection with his interim appointment , mr. shor resigned as a member of the corporate governance and nominating committee of the company 's board and then , upon accepting the permanent position , mr. shor stepped down from his role as chairman of the board but remains a member of the board . robert h. getz , a director of the company since 2006 , has been elected by the board to replace mr. story_separator_special_tag selling , general and administrative expense was $ 47.1 million for fiscal 2018 , an increase of $ 4.7 million , or 11.1 % , from $ 42.4 million in fiscal 2017. the significant drivers of the increase in fiscal 2018 included two events that took place during the third quarter of fiscal 2018. first , expense of $ 1.5 million was recorded related to certain legal and due diligence costs incurred in a strategic acquisition initiative that reached late stage negotiations but ultimately did not result in an executed purchase agreement . second , expense of $ 1.3 million was recorded related to the retirement of the company 's chief executive officer . a portion of the increase in cost was attributable to higher management incentive compensation expense of $ 1.1 million and $ 0.5 million of increased bad debt expense . as a result of the above-mentioned charges , selling , general and administrative expense as a percentage of net revenues increased to 10.8 % for fiscal 2018 compared to 10.7 % for the same period of fiscal 2017. research and technical expense . research and technical expense was $ 3.8 million , or 0.9 % of revenue , for fiscal 2018 , compared to $ 3.9 million , or 1.0 % of net revenue , in fiscal 2017. operating income/ ( loss ) . as a result of the above factors , operating loss in fiscal 2018 was $ ( 3.2 ) million , compared to operating loss of $ ( 16.5 ) million in fiscal 2017. income taxes . income tax expense was $ 17.7 million during fiscal 2018 , a difference of $ 24.7 million from a benefit of $ 7.0 million in the same period of fiscal 2017. the higher tax expense for fiscal 2018 as compared to fiscal 2017 is primarily attributable to the passage of the tax cuts and jobs act during fiscal 2018 , which required the company to revalue its deferred tax assets based on the lowering of the statutory tax rate of 35 % to 21 % ( 24.5 % in fiscal 2018 ) . the section entitled “ impact of the tax cuts and jobs act on deferred tax assets ” and note 6 to the consolidated financial statements in this annual report on form 10-k for the year ended september 30 , 2018 set forth additional information regarding the impact of the tax cuts and jobs act . net income/ ( loss ) . as a result of the above factors , net loss for fiscal 2018 was $ ( 21.8 ) million ( which includes a $ 20.9 million impact of the tax cuts and jobs act and other special charges ) , an increase of $ 11.6 million from net loss of $ ( 10.2 ) million in fiscal 2017 . 41 year ended september 30 , 2017 compared to year ended september 30 , 2016 ( $ in thousands , except per share figures ) replace_table_token_15_th 42 the following table includes a breakdown of net revenues , shipments and average selling prices to the markets served by the company for the periods shown . by market replace_table_token_16_th net revenues . net revenues were $ 395.2 million in fiscal 2017 , a decrease of 2.7 % from $ 406.4 million in fiscal 2016 , due to a decrease in average selling price per pound partially offset by an increase in volume . the average product selling price was $ 20.30 per pound in fiscal 2017 , a decrease of 4.7 % , or $ ( 1.01 ) , from $ 21.31 per pound in fiscal 2016. volume was 18.1 million pounds in fiscal 2017 , an increase of 0.8 % from 18.0 million pounds in fiscal 2016 with increases in the aerospace , chemical processing and other markets . the average product selling price per pound decreased as a result of pricing competition and lower levels of specialty application projects , which decreased average selling price per pound by approximately $ 1.35 , and a lower-value product mix , which decreased average selling price per pound by approximately $ 0.43 , partially offset by higher raw material market prices , which increased average selling price by approximately $ 0.77 per pound . sales to the aerospace market were $ 192.5 million in fiscal 2017 , a decrease of 2.5 % from $ 197.4 million in fiscal 2016 , due to a 3.9 % , or $ 0.88 , decrease in the average selling price per pound , partially offset by a 1.5 % increase in volume . the increase in volume reflects solid aerospace demand especially with respect to new generation engines . the average selling price per pound decrease reflects an increase in pricing competition and a change to a lower-value product mix , which decreased average selling price per pound by approximately $ 1.03 and $ 0.63 , respectively , partially offset by a change in market prices of raw materials , which increased average selling price per pound by approximately $ 0.78. sales to the chemical processing market were $ 70.5 million in fiscal 2017 , a decrease of 2.6 % from $ 72.3 million in fiscal 2016 , due to a 13.2 % , or $ 3.40 , decrease in the average selling price per pound , partially offset by a 12.3 % increase in volume . volumes increased in fiscal 2017 from very low levels . the decrease in the average selling price per pound reflects a change to a lower-value product mix and increased pricing competition , which decreased average selling price per pound by approximately $ 2.69 and $ 1.16 , respectively , partially offset by higher raw material market prices , which increased average selling price per pound by approximately $ 0.45 . 43 sales to the industrial gas turbine market were $ 61.5 million in fiscal 2017 , a decrease of 9.6 % from $ 68.1

