Thank you, joining for Jason and thank us. you all
customers, the their everyone our to would over our employees First with challenges of the by affected and world continued and like that and all you're our faced to dedication commitment we pandemic. unprecedented our and coronavirus months hope all foremost, thoughts several staying safe are for partners. and Keysight, thank has well The past and I
power and performance Keysight delivering greater this which our leadership our business balance and high value our results sheet, employees. our and continuously of execution unique shareholders, to customers, to quarter guides model, drives underscore and company culture the Our model,
three today the key my headlines quarter. focus on formal for comments I'll
most temporarily acting our of in mid-March priority. pandemic, are our measures sites First, and is our we our of mitigation to the implementing production ramping the health locations employees quickly re-opening to rapidly. top risk close now After and safety is response global capacity in and
government orders, Keysight Second, margin, resulting on operating and despite free and impact steady revenue, delivered our flow. record shutdown production the facilities strong QX supply of our mandatory disruption cash
set Our our of results exceptional secular in the business uncertainty, we of despite growth position, resilience markets. near-term model. the financial operating our demonstrated And the and and operating our durability end our model, long-term leadership diverse strength trends of differentiated the of confident the are market our third, across
dynamics across results. impacted the quarter was that to Demand steady second Turning February. markets in
impact of the spread to to employees, the we local directives. in As and the of customers, while China beyond coronavirus limit also responded mitigate March, the the pandemic government quickly suppliers to responding risk early and expanded
XXth, a announce in production order March On of in April. which temporary closure weeks the and activity we two fulfillment most the to press locations including around were our and release closed issued limited for fully had March facilities, world,
and and we services to health our to the be are we are broader worldwide. those to our expect safety back challenges, Working operation locations, essential pleased by we announce and ramping capacity measures around all of end third world. the necessary in operate quarter. to are deliver that services steps governments the commitments, on local industry ongoing customer chain that the at health support We particularly also our provide XXX% we implement production to supply and communities re-opening of officials took which Despite and the sites with Keysight
a quarter. through only decline results. quarter to followed to second X% year's growth by Order Now March, positive let's a last down compared finish into record look financial deeper April take in our was the
dynamic situation, Despite performed mid-single nature than through model digits flexible the While we time it's Keysight's and performance, of both noting frame. result that worth don't January as the cost typically disruptions, resilience supply our of exceptional March business comment was the lower Keysight's orders and expected. grew quarter revenue the in expected given on chain revenues of a calendar as structure
As a our record and $X.X preserve of of and actions operating to delivered reduce billion. result costs balance record flow $XXX margin free of million, liquidity, of XX%, immediate a we cash cash
capacity. of Our business second as both limited the year-over-year by revenue declined the impacted segments quarter XX% were manufacturing
such to challenged continue processes. in investment end and node general automotive markets markets expected the near-term. as we ongoing XXX Other see across as advanced generation with several to such However, steady technologies semiconductor in next electronics are and demand XG, more gig, be
Communications, Commercial our in a record. new resulted ongoing In XG momentum order
continues portfolio and strong is solutions commercial underway. XG enabling adoption customer the gain to end-to-end Our global launches
further leadership ecosystem both solutions. solidifying standards are our leadership position close XG with wireless market and We the first-to-market wired collaborations global across through XG design test and and and
software core testing of core complex leverages subscriber test Ixia the and equipment needed LoadCore. This solution called network to XG qualify reliability to mobile network and This and The quarter, performance testing and from over capability our data new transferred models. This we solution networks. customers. introduced simulates operators by enables PRISMA manufacturers voice real-world acquisitions deliver Keysight's XG XG
portfolio market. devices XG for Japan, comprehensive a and the their an announced test, of also Rakuten, in the Keysight's ecosystem key validation, with in to and optimization using collaboration deployments networks. differentiator is spanning a solutions enable entire solutions We our operator
defense by order strong was growth demand international was In lower which driven offset by the in partially government, U.S. investment. aerospace, and
from spending modernization. a solutions electromagnetic technology ongoing and space, operations, and in investments Our for U.S. to radar, spectrum environment continue satellite favorable benefit
autonomous sector, engaged technology be remains challenges priority to to generation our vehicle automotive a strategic with for invest and players. substantial customers. Keysight the solutions continues market in electric with and is first-to-market key next the Despite highly
the recently For new Group's the Battery in we use Competence Germany. solution battery Scienlab our in test example, Center announced Cell of BMW
where for incremental and process technologies we growth less infrastructure. Foundry investment had disruption. node This supply customers chain solutions in in prioritize resulted revenue to measurement are semiconductor continuing advanced our
services and to to of revenue our contribute solutions the recurring differentiation and continue base. Software
and While In represented time, average both revenue. XX% of growing the business company QX, approximately of services strengthening diversity of our durability the are and software combination above model. the over they
to COVID-XX challenge. current the communities through pandemic, this to our our are we and supporting committed back customers Turning
launched our Anywhere For we to enable and an Program security. to ensuring customers, performance Innovate users VPN IT remote teams support
production We also our safeguards measures are health safety all other resumes. met at implemented to operations various and and facilities ensure before
and the to communities, to efforts we of supply most contributing These and protective children, hospitals globally families, our agencies providing include vulnerable. personal For are donations. support local the monetary through government and to equipment donations relief
to global non-profit and financial direct organizations. making also local are contributions communities We
and on to pandemic is call a base and with proud turning a over close leader diverse, are growing key XX,XXX the in few Before I'll over of a customers end global of I'm Neil, multiple team unprecedented markets points. and responded. market has across this how industries. challenges diversified serves Keysight our The large,
our with and the cash execution operating Our durability with solid flow demonstrates QX margin resilience a revenue even of business our the model and XX% of business impact.
focused investment We significant continue remain our R&D first-to-market solutions. on in and
and highly for continue execute our growth. Our above our long-term customers with to engaged market sales strategy teams remain we
trends next the market ongoing our model and of expect intact. growth and operating chain we quarters, the over COVID-XX headwinds long-term remain our strength few demand While supply secular
expect We come to than stronger through ever. this challenge
outlook Neil discuss more in to over our it the turn performance and will to financial detail. I Now,
