outlook QX then XXXX. results Thank for QX Kishore. XXXX and our further review first discuss I'll you, our
market level. demand insignificant the which consistent On to ramp connected XX% the in was pause our downs $XX MoCA outlook. our business the product is step in to end of saw with million, sequentially revenue We and with deteriorated new down home due now an satellite,
in high-speed uptick our to categories an by interconnect business driven slightly product other X%, increased business infrastructure with Our down. flat
peers slightly down various was markets. like business in multi-market much these sequentially, industrial Our
and guidance for guidance gross non-GAAP XX% of by and driven were This of of was approximately GAAP primarily the gross during The XX.X% mix improvements to XX.X% fourth to XX.X% quarter quarter and XX%. improvement to gross margins margin non-GAAP margin quarter. the GAAP in revenue, XX.X% respectively. compares the
margins million GAAP delta in fourth reflects quarter from non-GAAP and between previous compensation. of stock purchase The assets gross the intangible $X.X based of the million acquisitions amortization and $X.X of
XX.X of to which restructuring operating quarter million charge guidance slightly expenses above GAAP during due Fourth our approximately a GAAP million quarter. XX.X XX to million the were was small
X.X tangible based bonus X.X based compensation and GAAP stock operating amortization assets X.X charges of of million restructuring stock of accruals and million, million. expenses of included purchased
due expenses consistent XX continued management. X.X with Non-GAAP were non-GAAP million XX.X to down which guidance operating point was XX.X expense million million sequentially million our discipline to and of
down We OpEx the our managing was run quarters, been rate year. four quarterly the year have during transitional spend period. successful last non-GAAP the over sequential After in XX% reductions
the XXXX flow activities generated XX.X Moving the of sheet operating quarter was statement, million in XXXX. generated fourth versus quarter cash to balance flow XX.X, of and the our cash from in third
intentions priorities to X.X cash reduced remains QX. leverage pay remain below in at down ratio XXX debt on was to loan Our of but and our with cash We around strong generation and our due consistent million, times net uses acquisitions. our balance
Our is of outstanding which quarter prior for slightly day XX above approximately outstanding sales the fourth day days, sale the days. was XX quarter
to the X.X X.X quarter. turns Our compared inventory to in increased third
range. That approximately guidance sequentially to of midpoint million, in currently the leads be of the me We our down XX quarter X.X% revenue the million XXXX expect at guidance. first to to XX approximately
offsetting home expected expect We flat down connected quarter revenues in to products declines demand. DOCSIS over slightly video-related to quarter largely be with
infrastructure and in XX%, category, other expect infrastructure well categories. owing be revenue HPA particularly and seasonality We this China weakness in down as as to approximately to demand
industrial to as be a slightly to and market our expect recovery. multi-market We flat approximately navigate we down
of We and XX.X% revenue. expect lower to to GAAP mix down the to and due gross negative slightly quarter approximately of margins XX.X% first leverage profit XX% be margin profit sequentially approximately revenue, non-GAAP be on XX% to revenue, gross the to
and minus factors. a on profit vary forecasts other As our or percentage gross plus depending reminder, product margin X% mix could
focused and business. we're our with focus our operating the leverage Even development increasing on to strategic goal at stated and top reducing initiatives infrastructure delivering rates strong continue run we beyond the in spend programs of line particular targeted XXXX in as on levels, fund growth
We XX.X million operating of a XXXX expenses a XX.X to lesser GAAP our million quarter-on-quarter QX to arrange by driven expect to increase seasonal extent supporting mainly product approximately and million, X.X to development roadmap. tools increases payroll
to be approximately up GAAP We sequentially to million range million XXXX X.X expect XX.X expenses of million. XX a QX operating to non
expense GAAP zero tax be of to rate We tax X%. and non-GAAP approximately expect
to in interest We expect to the million. expenses quarter be $X.X other $X.X million and
product portfolio data engineering design milestones XG to our XXX pleased In in restructuring highlighted in in is MIMO by customer expanding continued report center closing, progress our transceiver. are massive gig engagements market, and our we and
turbulent, due cable side. near-term While to on in beginning issues, home China the the remained multiple our see in particularly to stabilization data business, connected markets we're
new business the on leverage will upgrade on many our data in incremental revenue These as infrastructure in in product of with and well strategic combined rollout to We cycles us executing position execution cash maintaining our strong engineering our focus start streams as center and and flow strong in as well XXXX. investment. generation layer to wireless deliver initiatives profitability strong upcoming markets,
for to open like With questions. that, I'd call up Operator? the
