Orders over the last three weeks or 12 weeks, excuse me, are 25% higher than the same period F '20 pre COVID.
We reported first quarter fiscal 2021 adjusted earnings of $1.25 per diluted share, a 36% increase over the first quarter of last year.
Let's start with our largest segment, Energy Systems, which saw a modest improvement from the prior quarter, growing revenue by more than $22 million and generating a nearly $4 million gain in operating income versus Q4.
Munitions recorded several key wins based on our industry-leading technology that provides 40% extended life in thermal batteries.
Our first quarter net sales increased 16% over the prior year to $815 million due to a 12% increase from volume and 4% from currency gains.
On a line of business basis, our first quarter net sales in Energy Systems were up 5% to $371 million; Specialty was up 21% to $108 million; and Motive Power revenues were up 28% to $336 million.
Motive Power's growth was mostly from 22% in organic volume and 5% in currency improvements.
The prior year Motive Power first quarter revenues were impacted significantly by the pandemic, with a 24% decrease in revenue.
Energy Systems at a 3% increase from volume and a 3% improvement from currency, net of a 1% decrease in pricing.
Specialty at 18% in volume improvements along with 2% positive currency and 1% in pricing.
On a geographical basis, net sales for the Americas were up 13% year-over-year to $557 million with the 12% more volume and 1% in currency; EMEA was up 27% to $201 million from 18% volume, 10% improvement in currency, less 1% in pricing; Asia was up 3% at $57 million on 9% currency improvements, less 6% volume decline.
On a line of business basis, Specialty decreased 19% from a very strong Q4 due to resin shortages, which are largely behind us; Motive Power was up 1% as it rebounds from the pandemic; and Energy Systems was up 6% from organic volume.
On a geographical basis, Americas and EMEA were relatively flat, while Asia was up 5%.
On a year-over-year basis, adjusted consolidated operating earnings in the first quarter increased approximately $14 million to $75 million, with the operating margin up 50 basis points.
On a sequential basis, our first quarter operating earnings dollars declined $3 million from $78 million, while the OE margin dropped 40 basis points to 9.2%, primarily due to Energy Systems results, which Dave has addressed.
Operating expenses, when excluding highlighted items, were at 14.5% of sales for the first quarter compared to 16.1% in the prior year, as our revenue growth exceeded our spending.
On a substantial -- excuse me, sequential basis, our operating expenses declined $1 million and 10 basis points.
Excluded from operating expenses recorded on a GAAP basis in Q1, our pre-tax charges of $14 million, primarily related to $6 million in Alpha and NorthStar amortization of intangibles and $8 million in restructuring charges for the previously announced closure of our flooded Motive Power manufacturing site in Hagen, Germany.
Excluding those charges, our Motive Power business generated operating earnings of 15.1% or 470 basis points higher than the 10.4% in the first quarter of last year due to easing of pandemic-related restrictions and demand, coupled with ongoing OpEx restraint.
The OE dollars for Motive Power decreased over 20 -- excuse me, increased over $23 million from the prior year.
On a sequential basis, Motive Power's first quarter OE decreased 50 basis points from the 15.6% margin posted in the fourth quarter due to higher lead and other input costs.
Energy Systems operating performance percentage of 3.5% was down from last year's 8%, although it improved from last quarter's 2.6%.
OE dollars decreased $15 million from the prior year, however, it increased $4 million from the prior quarter on higher volume.
Specialty operating earnings percentage of 10.6% was up from last year's 6.5% on higher volume, but down from last quarter's 13.2%.
OE dollars increased $6 million from the prior year, but declined $6 million from a strong fourth quarter on lower revenue.
As previously reflected on Slide 13, our first quarter adjusted consolidated operating earnings of $75 million was an increase of $14 million or 23% from the prior year.
Our adjusted consolidated net earnings of $54.4 million was $15 million higher than the prior year.
Our adjusted effective income tax rate of 18% for the first quarter was slightly lower than the prior year's rate of 21% and lower than the prior quarter's rate of 19%.
First quarter earnings per share increased 36% to $1.25, which was the top of our guidance range.
We expect our weighted average shares for the first quarter -- excuse me, second quarter fiscal '22 to remain relatively constant with approximately 43.5 million outstanding.
As a reminder, we now have over $55 million in share buybacks authorized, and we purchased nearly $32 million recently.
We have $406 million of cash on hand, and our credit agreement leverage ratio was 1.95 times levered, which allows over $600 million in additional borrowing capacity.
We expect our leverage to remain near 2.0 times in fiscal 2022.
We spent $26 million on our Hagen restructuring along with $46 million in inventory growth to support higher backlogs.
And as a result, our cash flow from operations was negative $48 million in the first quarter as we expected.
The balance bits [Phonetic] from the Hagen, Germany restructuring started in Q1 and we should exit the year with a $20 million annual run rate.
Capital expenditures of $16 million were in line with our prior guidance.
Our capex expectation for fiscal 2022 is $100 million and reflects major investment programs in lithium battery development and continued expansion of our TPPL capacity, including the NorthStar integration.
We anticipate our gross profit rate to remain near 24% in Q2 of fiscal 2022.
Our guidance range of $1.03 to $1.13 for our second fiscal quarter of FY '22 reflects the impact of these challenges along with the normal seasonality of Q2 and the added investments in product development and personnel.

Summary:
We reported first quarter fiscal 2021 adjusted earnings of $1.25 per diluted share, a 36% increase over the first quarter of last year.
As previously reflected on Slide 13, our first quarter adjusted consolidated operating earnings of $75 million was an increase of $14 million or 23% from the prior year.
First quarter earnings per share increased 36% to $1.25, which was the top of our guidance range.
Our guidance range of $1.03 to $1.13 for our second fiscal quarter of FY '22 reflects the impact of these challenges along with the normal seasonality of Q2 and the added investments in product development and personnel.