I'd Rami fourth by results. everyone. you, to performance and like afternoon discussing and our Thank quarter start good
over Total was year and revenue midpoint fourth Our was the $.XXX EPS down revenue XX% non-GAAP billion, year results guidance. quarter non-GAAP fourth of were EPS slightly quarter and $X.XX. above our
routing cloud declined see in our to shifts architectural year both continue and which switching the We impact over businesses, year. vertical
year up and both However, sequentially over Security was year.
business and Non-GAAP of less operating million continued strategic up be expectations, In were cloud, a States. United we was on Services the located were over sequentially. routing renewal gross as continued total mix driven primarily were and outside reflecting as deferred year both compensation, had year well our year reviewing posting focus top sequential million, Our to and and by margins X% to Product quarter, of one XX expenses declined or two for year five as product or our rates. expenses. for X% the over attach $XX enterprise. variable strong was X% were below revenue four lower due and a year percentage sequentially, $XXX growth, the customers, managing customers quarter. telecom over Product as our solid, revenue cable, Of a these year revenue
had quarter We from the dividends. As flow $XX good shares $XXX $XXX a million. of million million repurchased worth revenue, quarter, we percentage in were XX.X%. expenses of operating In cash non-GAAP and operations of paid fourth
ongoing to growth full X%. and modest the X% declined on architectural for vertical. EPS Fiscal the revenue results cloud of to non-GAAP in Moving XXXX due Routing the year. transitions saw
by up switching record QFX, Our driven grew had year, which XX%. business a XX%
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revenue from a year. at declined Looking for Americas declined the the X% X% and geographic perspective, AMEA
However, XXXX. Asia-Pac XX% in grew
XX customers Enterprise were full cable, or $XX Non-GAAP of was primarily For and XXXX, operating structure X%, growth Non-GAAP higher reviewing X% to these focus was Of XXX for cloud continue four and a five the customers, or our disciplined expense a year, were in of In strategic Strategic memory posted service two as due million over top of management, we States. and on costs, declined XX.X%. telecom and to of percentage a were product telecom located year, our In lower offset in outside margin partially non-GAAP cable of one declined United by XX% enterprise. cloud, the revenue resulting flat. year, the operating year volume, decline points improvements mix expense basis X%. cost operating and was margins. expense gross
the shares, million worth million $XXX strong previous million of For operations $X.XXX dividends. had year, flows cash from paid year. from billion, the up repurchased $XXX We in we of and $XXX
Before our would Q&A, guidance, we the on on can which you provide CFO website. on to I color some to our in move like commentary detailed available find
outlook QX Our the our result delays This to quarter. seasonality continue normal expect cloud ongoing to as revenue transition. customers for large deployment in is the below first reflects expected architectural we
we and As scalable. these and these strategic relationships customers’ to be related of evolution confident Despite with is Rami transition architectural competitive outlook, efficient automated, to more this networks in customers. this our position strong the cost remain discussed,
quarter timing uncertain, we return on a grow to end experiencing revenue are the by the year. year we expect year beyond a is sequential somewhat first and and growth architectural basis the to transitions of While the of the on dynamic
architectural expect to customers levels. the pressure from QX it impact a from product gross factors margins, gross There year directionally under volume margins We dynamic that to to resulting are remain lower improve shifts. is full while many mix, and for environment, we and margins quarter due our expect
pricing increase compensation operational variable of increase engineering, optimizing We typical to address the are costs, manage margins. first Despite both year. of efforts expect supply our and we gross operating chain, included These in management throughout to and solutions the on and our sales. the expenses efforts and and value pressure increasing to software seasonal efficiencies, quarter undertaking the our reset fringe specific prudently
the tax projected expect tax we rate worldwide The primarily net tax on For the driven in XXXX, by Tax US the the reduction XX%. partially mandated earnings to current corporate rate by approximately be of earnings is the in income non-GAAP under change the Cut in a and tax Act, act. certain offset increase rate Jobs US by foreign
to adoption Cut repatriate the we approximately Jobs billion. Act, plan Following US $X and Tax the of
I'm lower to an We system to nearly value territory global provide new in our use support all cost us tax enter enhancing share M&A our the have of accelerated ongoing agreement. new repatriated directors on into capital cash a cash to and buyback pleased to board expect authorization, the of fund to $X to of report shareholders. intent basis. business, to We the flow our return invest repurchase billion including approved free access our million $XXX a intend
continued share, declared increase would commitment addition, an to to I to team and cash compared In dividend per increase stockholders dividends. they be of closing, like Juniper. quarterly record. XX% In quarter of thank to for paid to This their previous an our this our dedication to of $X.XX reflects quarterly
for call the open questions. to like I'd Now
