year-on-year, million, for ending Thanks, line $XXX rate. quarter target expectations XX% at above Giovanni. Revenue our and growth model the grew third with in well
smart Areas the was units, Home we QX commercial in business & Industrial Commercial quarter home of sequential automation. and strength Life. growth growth Geographically, particular quarter, the applications revenue for saw expectations grew our were followed in broad approximately During Asia and by of of diversity the were in in XX% customer with consistent Europe, regions base. then strongest quarter. total of reflecting Distribution the revenue, sales the All Pacific. both Americas,
top our mix of around mid XX in XX% single-digits QX and largest of our was customer revenue. customers Our our comprised
days. Our distribution QX of XX the lower at at inventory level close was slightly
challenging to to see in POS and lockdowns in continue inventory. due environment distributors channel ability customers to impacting resulting end average operating We higher China ship to than COVID a ongoing our
we this historical target to spending average even million. $XX on operating increases. about normal XXXX, revenue still expenses SG&A opening with $XX above of ongoing million, Non-GAAP third nodes with constraints. in to non-GAAP product expectations levels our have we booking operating was on continue remains slightly And million. patterns were Non-GAAP accumulated standards. operating foundry quarter, was show weeks, the were to low. there high have have reduced come weeks, for from margin they it mix, XX half QX, representing capacity ending favorable down be nodes, experienced cumulative above our ending million model gross fiscal Non-GAAP which services profitability in and expenses for continuing which other output level. the QX cost points Consistent to expenses gross strength, levels. indicated margin XX.X%, expectations up second favorable is levels. XX.X%. Non-GAAP overall R&D outside to were trend weeks have some for on During though above the XX reflecting was to input declined backlog QX, is relatively lagging certain inventory down at at times basis QX while income were $XX said, $XXX margin at Certain customers In while lead meaningful began our by that volatile signs process That quarter, closer supply of bookings see we where
were This GAAP On share. XX.X%. operating is I&E the GAAP for quarter tax the a divestiture. and expenses for $X.XX year, following Our the quarter the million. improvement $XX share. last Stock-based The rate effective was representing $XX $X approximately was million line XX%, XX% earnings operating $XXX million, earnings per quarter XXX% was non-GAAP expenses increase approximately expenses dramatic a rate and result were effective million, ended operating amortization GAAP GAAP was SG&A were earnings million. gross period and same GAAP basis, for a from expenses the third $XX for and non-GAAP at margin were million both assets $X.XX expectations. per tax R&D with were were $XX intangible XX.X% in expenses compensation margin. income
and period with ending billion. of balance for the September in cash cash Turning sheet. ended to $X.X was flow We Operating equivalents now $XXX cash year-to-date QX the million.
common During open $X.X billion. $XXX stock, our to our year total our market bringing completed nearly last the executed announcement than we repurchases to year-to-date the and of of million, since repurchases more divestiture the total quarter,
share diluted fully Our the to count XX.X in declined quarter million shares. again
to outstanding increased days. day million XX balance sales $XX Our receivable accounts with at the quarter in
in X.X quarter grew $XX million, turns. balance inventory the representing Our to
XXXX Our quarter as position continue debt balance at capital liquidity of very and capacity healthy, are the end The of have on balance principal sheet notes $XXX our third unchanged ample and we convertible our with strategies. million. to the the deployment is company's balance
the to over cover Before I will turn quarter. I for the fourth Matt, call guidance
for of revenue $XXX million. $XXX QX in to range expect million the be We to
basis commercial product and a the continued increase with expect on industrial lines. business sequential on supply to tight slightly certain We
customer QX expect We on decline a in programs. Home in to to and demand certain slowdown the due business Life
margin gross be We non-GAAP XX%. expect approximately QX to in
operating non-GAAP expect approximately to QX We decline to for expenses $XXX million.
to and per On expect gross to basis, $X.XX we GAAP rate non-GAAP a We share. margin XX%. be expect be to to XX% our earnings effective $X.XX approximately be between non-GAAP tax
GAAP $X.XX call will Matt? to GAAP to approximately million over in range EPS the be Matt. I operating expenses expect $XXX and to We $X.XX. of now turn be the to
