Tom. you, Thank
forecast Services higher all-time earlier, Wafer while for year tools was record, revenue government and was ATS and us constraints new quarter was Third Tom at forecast revenue budget an Combined another discussed $XX.X the reached revenue this million. $X.X $XX.X record at $XX.X fiscal $XX.X in Wafer quarter million. Services million, lower at revenue Within than the ATS record than million. reached at given million
a metrics non-GAAP measures. are the discussed today As additional reminder,
quarter. in entering quarter August or Our mid the call, XX% for the to approximately gross gross performance On we margin high at the into our our margin exceeded QX teens guided expectations midpoint. the
Wafer expected an from business the equating and quarter, effective to negative gross for QX. Services midpoint our in points tools at combined the impact We margin also an revenue margin XX% guided ATS X expected percentage for of
gross combined gross gross tools equating percentage Services margin QX margin the for to our margin reported XX.X% majority margin significant of about milestones million of $X.X by recovered was on a driver We This of accrual progress the on business. was effective delivering reversal and the revenue upside during million gross cost program had The for Wafer $X an recorded record most margin strong of XX.X%. point of impacted Our accrual made gross in and QX. XX.X quarter. The QX. the the ATS positive the X-percentage key impact points, level
of continued driven a for XX.X% combined efficiencies with the reported gross point for in our profit impact X-percentage and ongoing of margin gross reduction impact So equated expectations progress percentage positive XX.X%, The margin $XX.X tools continued point Wafer aligned the strength and Services the ATS XX.X Operating to was reversal, in were improved and of expenses by performance QX's our gross margin gross our operational the strategies. quarter. business. primarily million, with cost negative
$X.X the and was of Adjusted share. of ahead EBITDA $X.XX accrual was per forecast income well million. million income non-GAAP achieved we $X.X net operating at Given million, $XX recovery,
has at XXXX. borrowing quarter million which to manage on since costs. Turning balance cash intra-quarter our in our at end The needs draws the through total generally relatively cash year-end minimizing also $XX.X sheet. revolver, our of helps We remained overall balance consistent
operations a cash minimize to Our result lower of interest of for our balance quarter. flow cash was $X QX positive again much our $XX.X cash ability million and than from approximately were million free P&L the once the as working changes. capital generated from benefit in QX forecast Positive from expense with
We flow operations. revolver in from million a of $X flow of consisted
have currently on reduced $X million we total our million million quarter, overall our approximately $XX.X at in by quarter outstanding end. the debt $XX with We available revolver. indebtedness During
our Turning to into expectations for for financial various XXXX. QX we our and through XXXX as move outlook and metrics
to to $XX Tom and $XX visibility, with tools revenue. reflects our ATS revenue, QX our revenue $X expectations Services million. $X of of As $XX million we $XX million of This of Wafer mentioned, current revenue to million of $XX million expect total
our of
Despite the XXXX. Our ATS solid our toward range. QX to budget a entering demonstrates revenue expectations guidance XX% objectives over execution And range in expect today, XX% we continue growth the in affecting XX% growth our to visibility XXXX. constraints are growth to with year solid current QX, within XX%
favorable year-on-year are to will Services for million. slightly currently the in XX% Wafer forecasted We of the revenue expect year to XXXX of expect in quarter We revenue revenue growth XX% ago. expectations In approximately up tools $XX a decline XX% XX%. to total, this range end XXXX
Turning on the of an and anticipated Wafer ATS XX% tool a the combined margin our margin margin of represents in basis range guidance. XX% at similar ATS midpoint, for Wafer Services At to XXX business XX% impact we gross margin be QX performance performance of QX gross gross levels. to midpoint, With and the and similar combined the QX to points, Services business. guidance expect expected quarter gross
for expense in fourth the range $XX.X We of operating the $X.X $X.X range expenses in quarter. expect and interest million $XX tax expense to million of the nominal to
$X for per to loss non-GAAP remains is of resulting loss share. a million, that approximately the QX of from Assuming $X.XX non-controlling range $X.XX income EPS interest a
a we XXXX. million quarterly revenue we Tools to be in currently here the in of XXXX. our current the second is half And our million in our the year. results into expect for be of with $XX expected recognized of move more majority to revenue are assumptions few to Finally, $XX the visibility, range Tools of as
our OpEx at quarters. well Our run a execution result as good initiatives the has end certain future cost lower as spending expectations on rate of to been deferment as of running control of
year. move As be a to rate is into the likely run next higher somewhat as result, we
customer revolver, tool our $X.X $X.X purchases. over $XX believe to depending While expense we the advanced as quarterly the overall is for year from assumption fluctuate through benefit draws good million a in foreseeable we debt deposits to interest future on levels will continue million for from of
modelling For expense nominal for assume or purposes, benefit. XXXX, you to should no tax
historic
With the $X can not your to looking that will variable but we open models something line million average with please income to accuracy, entities for below turn questions. I'll a we over interest line the call forward. Our from for be is appropriate expect use predict is Operator, Q&A. that, the
