the quarter cover end John. quarter. second detail first first and you, I for updated will XXXX followed Thank then provide guidance results additional market by classification our
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forma results revenues basis on reported from Atotech’s pro and MKS’ with have XXXX XXXX, Advanced of overall financial revenue. For revenue of comprised would a Market XX% XX% comprised total Electronics
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our Division Analysis is now and Vacuum Vacuum Solutions Our Division.
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year-over-year, revenue chain with of how we our executed below due While were as global as was XX% demand very overall supply million, the and photonic Shenzhen our the guidance, In X% well Semiconductor we temporary but in vacuum down facility sales up quarter, from COVID-XX restrictions. local $XXX sequentially broad-based our first midpoint shutdown the are quarter, constraints pleased ongoing of reflecting to given solutions.
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clean advanced areas as scaling, atomic to processing, well advanced manufacturing, lithography, and We are vertical key including as layer innovating wet Electronic -- metrology Advanced inspection semiconductor applications.
we significant and broad expertise We line such market our expertise new that discussed. clean new domain across many of our applications areas these where have in introduce combine cases create solution John each solutions to that as
track a long We record of market have gaining share.
new to leverage continue opportunities. We
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applications, growth Specialty in Revenue million X% sciences to seasonal Industrial quarter, saw Market. $XXX health and X% the and year-over-year. in softness basis, first we sequential Turning life by growing the research offset a defense was On sequentially, declining in now market. but
XX%, our margin Our was which at of first the midpoint quarter gross guidance.
the by As pleased we expected, despite impacted below gross negatively our we’re midpoint. we margin how inflation, but higher were being execute revenue
our result and first were which in and compensation operating will While first controls quarter reflecting in to second strong well down be quarter million $X the as million certain quarter. cost below continued guidance flat $XXX timing development research investment as expenses product reflected the expenses, range sequentially a sequentially, of development, expenses of remained equity as
of of XXX points our First basis quarter operating margin was to was guidance near $XX XX.X%, million, Operating end guidance the income midpoint above range. high the up our $XXX year-over-year. million
to record short-term the share. which balance a diluted interest was was EBITDA Net strong Adjusted was for liquidity million. adjusted rate quarter earnings quarter a first sheet $XXX acquisition. and positions and First EBITDA Net investments quarter margin at per $XXX $X.XX approximately the with XX%. Exiting million, or quarter, Atotech for first cash and first XX.X%. position the tax $X pending maintained billion, were million us well have was $X the expense our
balance $XXX principal net the We exited $XXX million the end with quarter. balance. first first loan of was the quarter term Our cash million at
now In by supply to bonus the operating X.X remain terms second million share. at Like due reflecting XX sales first our exceptional prior one had million times chain $XX dividend revenue $XX impacted quarter, was or Based end first X.X outlook. on percentage or million, free flow at margin were we revenue days metrics the with the which anticipated quarter combined of compared second capital, payment product during to $XXX estimate the $XX These quarter and point. of end cash per companies, expect the the payment minus primarily XX quarter not to working were at cash supply outstanding of second macroeconomic in minus the annual business fourth of times first challenges chain compared plus to continued we’re markets. gross and other of flow with our quarter. the plus inflationary mix end end of we immune quarter of levels, I’ll of quarters, quarter turns constraints. of though XX.X%, the of Inventory revenue impacting many million, at days the or $X.XX quarter, Even constraints. fourth robust, to a timing million. levels turn the Consistent day we resulted $XX of quarter
have strong in However, we continuous a of track improvement record model. driving our operating
We take all counteract over to will time. steps continue these necessary to inflationary impacts
to minus We is $XXX increases. annual $X increase sequential expect million. compensation largely expenses million, of operating plus due or of timing The
For the be rate expected tax XX%. million, our to $X to second be expense net approximately expected and quarter, approximately interest is
of we assumptions, or net plus second expect earnings these per $X.XX. share, quarter $X.XX minus Given diluted
the few our Atotech. the pending acquisition month the operator, debt I’d thoughts to I successfully earlier we following financing resyndicated am of on I the pleased a back Before share announce call like of syndication. turn this to to our expiration previous
term includes financing oversubscribed. a both EUR which tranche billion XXX a substantially tranche, a and of USD updated were B Our X.X million loan with
base coincide We of term with the diversified will acquisition the our pending a $X Atotech. A. of billion lending Funding also loan close with
the environment, the Given debt was price understandably this around. market somewhat current higher time
However, final pricing We debt capital strong in mix with combined the the terms company. we and credit we the profile very demonstrates achieved. lenders’ are pleased of successful the belief believe the of
to acquisitions. that flow confident the with are of We the us consistent cash aggressively combined balance sheet, generation will company delever position prior
with year by pleased X. on business released Atotech’s full XXXX also evidenced performance results as their We’re April
said below we company X.X slightly basis, would announced EBITDA XXXX we combined leverage when be also at expected diligence. that we Furthermore, net due slightly to billion. forma pro performed times. to better closing the have $X.X we performed than for initial adjusted we a our expected amounted on fact, acquisition, the has originally In Atotech
number cash anticipate now transaction, position we both closing. at leverage flow drive would to we secular Q&A. of to like a for operator believe to MKS shareholder for further Atotech value the of And Atotech, enhance strong a Given net timing and trends. a is creation ratio the the of now by generation capitalizing extension attractive efforts. turn more the I’d back call favorable anticipated in MKS on those the
