was fourth the million QX you, with Total last Thank for $XX.X in million, year. Thompson. $XX.X revenue compared quarter
to demand As to customers, continue Thompson revenue slightly mentioned, architectures. as our their our came lower they from our expectations datacenter network in due evolve below
revenue datacenter with In XXXG was XXG Our products was $XX year. of revenue $XX.X our derived the from of XX% from XX% compared datacenter was products. QX our our million, quarter, million in last datacenter and
beyond. laser approach and technology the believe and solution XXXG best at XXXG upon for the lambda we the As next-generation XXG that XXXG directly uncooled to that is datacenter. engineered Thompson modulated is of recently We to development advanced mentioned, design, laser technical the this per key an and XXXG building extend AOI cost announced to products TAMX has leadership our in leadership
for Optical previously We focused look capabilities Communications advantage devices we next less allow us transceivers will producing month. having to than in-house use upcoming on typically showcasing forward remain that these products strong both or to at on XXXG. external expensive Conference transceivers And built and and technologies our As EML maintain devices discussed, DML believe innovative some the produce DML EML incredible are building at lasers, cost that of to Fiber and modulation.
overhauling year-over-year began other nodes market. Turning expectations as products from $XX.X driven along reach of million, X projects to in to Revenue Remote-PHY part significant for We shipments the second with new by products process of year. with line CATV last being their compared North in X% Cable and delivery was deep they of primarily Demand this enable our will ongoing by cable these future. American in million and networks our of MSOs Remote-PHY the and TV head-end a transmitters QX start upgrade $XX.X our products, to CATV in that per we expect year. continue data undertaken gigabit speeds deployments, play television our or volume with fiber higher later to believe to increased
$X.X Our million, last of delivered million of year. revenue telecom QX compared in $X.X products with
the datacenter respectively. our we and XX% In of datacenter XX% that was products, from XX% XX%, the three contributed quarter, FTTH CATV revenue total the quarter, X% revenue, the customers with from or greater in XX% products, of had from telecom other. and remaining fourth XX%, business For
For revenue. XX%, XXXX, total customers three XX% XX%, the of the year same represented respectively, and
market. compared to very quarter, to income the represents margins XX%, gross statement. maintained in sustainable, the price-sensitive margin continue our of increase reported last basis even with range points, strong pleased down a XX% with of view of and XXX which within an that XX% XX% I’m QX the Moving in we to year. was the gross In a generate ability as strong we
reduction XXXX. our cost As Thompson in mentioned, commitment fruit ongoing to bore
quarter. period average XX.X% or our Over revenue and continue manufacturing our of cost or million, the to the $XX.X products, improve XX.X% the with of of transceiver compared in same operating $XX.X four of efficiencies prior the in in revenue, XXXX. compared expenses Total quarter an we to quarters, XX% the last reduce XXXG long-wavelength were million,
on While and and total spending offset OpEx R&D, G&A by was experienced was nearly sales we increased which sequentially, flat lower expenses. marketing
to elevated technologies expect enable next at as our in will and million, QX an with of product reduction income we as in some the core quarters, we XXXX. income of developing XXXG, invest was operating see XXXG transceiver on continuing $XX.X QX new cost development. $XX investing to are forward, production for million R&D and Looking well products, continued as Operating in several that Remote-PHY level compared
effects which in AOI last $X.XX significantly in of in approximately XX.X% by the $XX.X shares. quarter the law. diluted tax QX driven up from in reduction income with XX.X weighted count XXXX. or affected Act, QX $X.XX share of net XXXX. margin Non-GAAP compared million, or Our of million, diluted GAAP $X.XX QX net fourth was per quarter per for operating $XX.X of was share, Tax or net several new primarily Jobs million, XXXX. diluted fully December by XX% or average QX this compared Reform net The QX of GAAP GAAP in reported share diluted XX% $X.XX this the for was income $X.X income provisions was in The per was million year. diluted million, $XX.X income U.S. share was with in and share, the was quarter per the enacted after-tax
First, our tax and law a repatriation the profits tax, deemed introduced is foreign which transition current untaxed earnings subsidiaries. one-time accumulated new previously of a on and
These the to one-time transition tax We million. that tax periods statutory our in tax one-time offset accumulated need of the $X partially earnings U.S., approximately tax additional mostly which tax of value tax prior additional with due assets $X.X in reduce U.S. were in the to is rate payable, foreign tax the of not tax reduced making were result this estimate We new we income a approximately charge to will a value losses. million, lower new this provisional net adjustments. Our other A was in this tax new adjusted effect impacts assets, of in deferred with $X cash net approximately to as $X in to XX% resulted measures of operating non-GAAP result which lesser the due repatriation effect which expense second do significant million, expected be of effects the in credits are and tax these however. the to on transition law tax eliminate expect these million Both quarter we one-time of have accordance QX. of non-recurring, in a the recorded of as approximately able of therefore, law our GAAP. well foreign tax consists
tax excess from options recognized $X.X also tax million the we in quarter million the benefit credits in quarter. and During were exercised approximately R&D $X.X approximately during that employee
few broad our a done income the refine law that some and there changes should included to significant to on the expense updates new continue AOIs With yet the be in are forward. I provide Act complex, we to Tax emphasize I in take tax place, work and is estimates. would like tax going as moments to
main more estimate issued XX-K taxable guidance income jurisdictions: in law for to China. each the such, As new information. tax you these the of our of on overall to discrete on our excluding States, that mentioned. a urge may XXXX in estimated have. a tax previously reasonably tax continues items various we jurisdictions, Taiwan section and rate are we operates be upon period, the AOI result be period three from given and consult I our tax Based United GAAP effects rate at cannot in discrete XX.X%, approximately may vary various effective the significantly any items of tax that there estimated can tax basis tax In rate the in and annual that
For reported AOI, items from continuing benefit are share-based expense that tax income most GAAP, tax credits the significant the operations. expense now of benefit R&D compensation. share-based U.S. compensation tax any Under involve effects these or from income may tax of or arise in and
these we what to tax of or we time, price cannot in when our are calculation. an at the might stock unable As estimate be estimates might that items effective include rate exercise options, employee
in our result, vary our expense any a from quarter may tax As estimates.
most of recognized tax periods, expense, were our recently, than has the our issuance options and is or exercise time time has the the at agreement between a in stock was employee at of benefit. generally where which the of As in tax which lower is expense, been recognized granted booked the resulted the it difference price
Turning $XX compared short-term cash investments cash, of with the quarter. sheet. the million previous total now ended cash, the balance in restricted equivalents, with and at QX million $XX end to We
from of $XX.X of QX. inventory, As had $X.X in XX, we an December million million increase
construction a brings of our $XX.X in China. to land-use made capital million million quarter, Our million. on million year. in and which new in $X.X most purchasing and factory building equipment the including production for for of in spent We from improvements, the for the operations total was This rights million $XX $XX.X investments capital investments and totaled total machinery our year cash $XX.X generated
expect should accounting commence our additional The space, adjacent to new be to a this of approximately factory QX The of in on will new our XXXX of we housing purpose adding we it capital workers approximately completed as China Construction with well our This million, this to expect factory CapEx to increase existing expenditures Ningbo. Looking XXXX add existing ahead, in is to is the be year, footprint which factory for immediately square needed location for factory. in capacity the $XXX increase production our levels. facility most the over increase facility construction XXX,XXX XXX,XXX in of the that new new by production facility in and XXXX. feet for new approximately to feet. staff in square as new Ningbo, will of to consists of
to now outlook. our Moving QX
$XX be to million. revenue QX expect between We and million $XX
this our QX, exceed due the effects quarter of we reminder, New Year from fewer China. lower as a capacity the have Demand Chinese in which transceiver results customers New in holiday holiday, the production result production expected in of capacity days in production in As to QX, our Year is to a QX QX. compared to
non-GAAP XX.X $X.X the of to XX.X%. in EPS Net expected We to in range to margin count weighted of non-GAAP fully $X.X expect the be share gross million million share range approximately and diluted per to per million between be is $X.XX $X.XX average shares. XX.X% a using income share of and QX
income net turn to our the our the it QX and be on effective XX%. Operator? for tax non-GAAP to Q&A that, We operator I With session. will X% expect over rate between back
