Hello, everyone and thank you for joining us today for the Cantel Medical Fourth Quarter 2020 Earnings Call.
[Operator Instructions] And now, to get us started with opening remarks and introductions, I am pleased to turn the floor to Vice President of FP&A and Investor Relations, Mr. Matt Micowski. Welcome, Matt.
Matthew C. Micowski
Thank you and good morning, everyone. On today's call, we have Chuck Diker, Chairman of the Board; George Fotiades, Chief Executive Officer; Peter Clifford, President and Chief Operating Officer; Seth Yellin, Executive Vice President and Chief Growth Officer; Shaun Blakeman, Senior Vice President and Chief Financial Officer; and Brian Capone, Senior Vice President, Corporate Controller and Chief Accounting Officer.
Earlier this morning the company issued a press release, announcing the financial results for the fourth quarter of fiscal year 2020. In addition, we have posted a supplemental presentation to complement today's call. This presentation, along with reconciliations of non-GAAP references, can be found on Cantel's website in the Investor Relations section under Presentations.
Before we begin, I would like to remind everyone that this conference call may contain forward-looking statements. All forward-looking statements involve risks and uncertainties including without limitation, the risk detailed in the company's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual results may differ materially from those projected. Additional information concerning forward-looking statements is contained in our supplemental presentation and earnings release.
The company will also be making references on today's call to non-GAAP financial measures. Reconciliations of these financial measures to the most directly comparable GAAP financial measurements are provided in today's earnings press release.
With that said, I'll now turn the call over to George.
George L. Fotiades
Thank you, Matt. I will provide brief overview comment; Shaun will cover the financial perspective and Peter will spend more time on the execution of our key initiatives.
Overall, I'm pleased with how we executed in the fourth quarter amidst the impact from COVID. Our strategy in infection prevention and control has never been more relevant.
We achieved our goals with respect to management of operating expense. We continued to maintain safety protocols in all facilities and achieved uninterrupted performance. We exceeded on cash management in the quarter; and in early September, we paid down $75 million on our revolver. We worked with customers to drive adoption of new protocols and facilitate a return to normal activities, and we continue to execute on the Hu-Friedy integration and the initiatives related to Cantel 2.0.
As we said in our release this morning, procedures in both Medical and Dental have steadily improved and are at about 80% to 85% of pre-COVID levels and they are strengthening.
Given the critical nature of the elective procedures we support, we expect a full recovery. We're just not certain of the exact timing. Therefore, as we indicated last quarter, we are not providing conventional financial guidance. However, we do want to give clarity on how we will execute on what we can control: operating expenses and profitability.
Matthew C. Micowski
Vice President, Financial Planning & Analysis and Investor Relations
George L. Fotiades
President and Chief Executive Officer
Senior Vice President and Chief Financial Officer
Executive Vice President and Chief Operating Officer
Executive Vice President, Strategy and Corporate Development
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