Thank you, Charles.
customers, of the we support First, investors I'd and as to partners challenges pandemic. navigate thank our COVID-XX employees, like ongoing the for their
the San Jose, in into brief quarter, Recall, update the the like operations. we'd presence provide of employee of a status to jumping is our and California. on details our Before largest production
continue We the increased safety under measures health for to employees. operate of our
moderate to while these costs. quarter, conditions, While All our adapted and to results said, we we adjusting operating current of our level inventory of continue this are higher that satisfied have unprecedented are logistics profitability our we proud under with times. a aren't we well maintain to
the over a effects are insight term prove While into and near we financials will the we COVID-XX, economic global from of unique of believe on recovery today seeing that don't transitory. trajectory much have long-term we likely the our
the let Now me quarter. of to turn the details
declined totaled revenue sequentially of XX% reflects ASPs quarter third nodes Systems total and but shipped and This fourth year. of year-over-year. fiscal the $XXX increase increase increased same last quarter-on-quarter fiscal revenue from of up X% and quarter System comprised XXXX Our the a quarter-on-quarter volumes of from systems were a and million. quarter XX% year-over-year.
Asia the as performance. grew customers. year-on-year Internet at sequentially. X% sequential number was basis, center enterprise of Asia geographic we a and sales strength and X%, grew was On basis, grew saw to grew flat. X% XX% U.S. XX% On U.S. up a and EMEA Turning a EMEA data
moving for to out down items point I'd investors. like noting Before number a discrete the P&L, worth of
operating to we million to impacted million call, million. recorded sales onetime and charges both $XX $XX our of our in additional employees to expense. cost that we related $XX.X incentive we Remember, on had of expense expected that February to incur mentioned First, awards
Second, this criteria $XX achieved those out for was in awards we whose approximately performance million quarter. paid
Third, bad million debt. recovered previously to $X.X we customers reserved related from
reserves U.S. rate and reduced sales tax export $X.X years, we prior finalization following our for of released tax tax returns from the certain million Lastly, in for the foreign was
basis our Turning gross margin XXX points results. non-GAAP was back QX XX%, points quarter-on-quarter. down and year-on-year XXX basis to
have participants, As other of been impacted that you've costs commodity Gross was costs, customer likely market magnitude. by volatile. COVID-related mix and in margin heard from order commodity costs
expenses. aforementioned sequential operating GAAP million. was X% to to expenses in last Taiwan-dollar-denominated the to QX was G&A expense related due remeasurement non-GAAP in operating increase from quarter-on-quarter on as and debt year-on-year $X.X $XXX decreased million. OpEx basis, the million a a quarter. basis increased $X.X of the $XX benefited recovery. million non-GAAP also credits quarter-on-quarter our $X.X the Turning a foreign The On of and income a compared Other exchange to to to primarily million absence OpEx loans. X% R&D quarter loss previous gain
in highlighted taxes we cases, settlement benefited basis. both discrete and million from mentioned million on benefit a a In new tax audit, were on our on as structure non-GAAP quarter, $X benefit a our GAAP the and a basis $X This tax items earlier. a
Lastly, we QX same million $X $X.X Cash $XX accounts to previous a last $X.X improve our million totaled receivable $X.XX of operations paid increased contributed cash expect out joint $XX as of was $X.XX of this CapEx contributed and up to share large employee sales. the our $XX to in million related quarter from quarter And income from non-GAAP quarter currently million. year. quarter in bonuses. diluted of year QX. $XXX flow and the ago. resulting the compared onetime free venture QX, and last to to loss $X.X on in operations as a outflow per per cash the in in $X.XX we Timing million sequentially use compared million, used earnings share factors cash million totaled million totaled income
Our excludes cash, restricted balance was million. position, which sheet closing cash $XXX
cash days. quarter, XX XX days, cycle of conversion last was XX XX XX quarter days range days. from Days payables This inventory within XX and days outstanding XXX. target sales totaled days was and outstanding to was our down our Day
for company sales Now the the quarter XXXX, September XX, the in ending business. for to million. range of turning $XXX The outlook to our million expects $XXX net
somewhat In weaker given trends, we uncertainty. economic addition to seasonal significant typically are cautious,
million roughly increases compensation, sequentially debt operating recovery sequential product year-end and cost margins as in repeat, abate. XX the will audit. basis to to not the With XXX we our expect points regard $X.X and commodity development expense, improve completion pressures of We expect to gross
December the We expect quarter. revert the audit costs levels XX% to the be We tax GAAP and for to non-GAAP to anticipate year. in rate normal
$X.XX $X.XX, and a per to $X.XX earnings share non-GAAP per to GAAP of share diluted earnings $X.XX of both basis. on expect We
presented challenges Our management company our on by continuing is focused team the guiding COVID-XX. through
continue Although as COVID-XX we're we well business we the further predict customers. extent may and results to strategically and financial impact operations, our our unable to positioned financially to serve of performance believe which operations, we're
plan. we million announced effective in up earlier, The program. its mentioned common that December signaling step, are repurchase XX, has that currently the until to XXXX, value Finally, new are With a under program the to an funds this company small authorized exhausted our of of Directors $XX we as authorized repurchase investors share capital. creating XXbX-X use stock or with a until committed Charles shareholder are Board we of to to efficient is
