discuss million, meaningful our connected and of revenue XX%, side. X.X we then XXXX outlook products, shipments the I for ramp by affecting combined lack X.X decrease the will DOCSIS saw results first with cable both data on QX home QX step-down Kishore. you, review A DOCSIS in and $XXX.X Thank initial the of XXXX. further driven our MoCA
That Our continues was wireless Within sequentially. very be analog to our to continues down outlook to bookings infrastructure applications owing X% infrastructure positive. as high-performance said, ZTE our expected provide business ban. down stability infrastructure, and stepped the
side, up the sequentially. sales On industrial multimarket X% were
than gross primarily margin The the GAAP to non-GAAP due compares mix acquisition-related, forward of The second industrial bonus. of gross last compensation XX.X% margin our encouraged We look was initiatives XX.X%. and the of and and quarter new quarter guidance between high-performance benefiting million guidance our and assets our expected of XX.X% of business product respectively. over the and and $X.X stock-based improvement and revenue continue was and intangible margin reflecting for non-GAAP approximately of the we to gross a from favorable second XX.X% margins amortization GAAP margin continued acquisition. non-GAAP stock-based $X to improvement Exar in margins products to Exar from acquisition. analog undertook delta year the of the This following million on by the gross were stability more gross be purchased GAAP
assets. expense expenses guidance sequentially included out were guidance bonus million, million depreciation expenses. and below below were purchased of disciplined stock-based amortization fixed $X.X which restructuring which $X.X GAAP intangible and million. of million million, quarter $XX management. million respectively, due $X related million of and expenses $X.X in $XX.X Second of step-up in in down GAAP million operating $X.X our of $X operating $XX.X approximately Non-GAAP Rounding and stock-based commentary plan expenses to operating to operating related our to $XX million accruals was acquired compensation million, million a on GAAP $X.X million $X.X assets the was
the during With working are diligently period. this the we levels, transitional new to moderate spend revenue
come down. larger the down as expect to we operating coming development as wind on and efforts spend We quarters the expenses - in tighten overall the
cash statement. the sheet balance to and Moving flow
million Our $XX.X balance million. cash, cash increased equivalents cash and $XX.X approximately restricted to
cash position $XX quarter debt Our reflects term effect the in loan. of our million prepayment ending towards during the
executed in million and total addition, our during balance $XXX to million. This the prepayments $XXX approximately recently we million an In to additional brings debt QX. $XX down loan prepayment
approximately was operating quarter first million of XXXX generated quarter $XX.X from in in second fourth million generated flow cash of - the $XX Our XXXX. the versus the activities
approximately days, which day in with quarter outstanding for sales second Our quarter. XX line the the was prior was
to first slightly the increased compared turns in inventory to Our X.X X.X quarter.
of That We to currently the continue inventory third be million. in expect me turns. our leads million revenue to long-term a on quarter $XX to X target of approximately to approximately XXXX guidance. focus We $XX
products. sequential mentioned, data MoCA cable to is predominantly our platform, our due As front in Kishore decline and end weakness the related
decrease and to product revenues home approximately XX% connected that due the sequentially to expect roughly revenue XX% to for of earlier. headwinds we We mentioned overall XX% account near-term transition
and overall We expect infrastructure infrastructure industrial - approximately XX% approximately to revenues. Within grow. of represent revenues represent wireless infrastructure, present to to expect multimarket to of we continue XX% overall to and
from multimarket growth solutions. point-of-load Within sequential we the new modest industrial PMIC segments, and and expect regulator
We is lower down sequentially expect be XX.X% revenue third be margin unfavorable margin profit of of an gross to approximately due to profit to gross and quarter which approximately non-GAAP revenue XX.X% mix. GAAP and revenue,
and As margin percentage plus product X%, could mix a factors. reminder, vary, depending other gross profit our or forecast on minus
particular at line a of focus we into and programs the We our business. development infrastructure as half the of leverage look delivering initiatives fund XXXX operating in strategic increasing first targeted growth to on strong beyond, and top forward with the goal continue
fees XXXX we approximately largest $X-point with decrease approximately QX. coming expect such, $XX.X million, in removal GAAP from As restructuring operating incurred decrease the of the to to expenses QX quarter-on-quarter million
QX XXXX and operating lower down million We driven primarily sequentially $XX to expense. to non-GAAP expect expenses by $X.X payroll million, be prototype
rate intend likely that operating to mass reduce we're to in step-up center initiative. incur run our However, please baseline a note to our data while spending QX, related expense we in
approximately tax expect expense We of X%. be GAAP million and rate $X.X to non-GAAP tax
to closer margin, of company million. infrastructure I the flows. QX executed networking earnings In growth other large well strong $X.X in quarter XXXX beginning cycle-based draws on and Overall, our results solid expenses in closing, focused very reflected the We expect to quarter plan be gross a tough the interest that a above another cash evolution company to stages multiproduct believe us strong environment, has and markets. with
the our call. the DOCSIS by are disappointed on X.X adverse its encouraged near-term largest our on were earnings by revenue, in we of impact customer dynamics DOCSIS we While ramp and a very beginning recent confirmed
us inventories to We for improvement position with our expect the drawdown QX, in this QX. ramp, expected of customers' combined X.X during
of level X% a range see believe of in to this guidance, don't this improvement X%. we we'll While provide revenue that typically at time, the we modest
remain X and the verticals for access investments on wireline spanning wireless, In infrastructure track of growth. multiyear addition,
that, We call open continue Operator? to to innovative I'd to for these like to bring products questions. With execute market. expeditiously the up
