than highest Luis. XXXX. Thanks Sales than our tight guidance. Cohu was executed QX well and guidance. higher profitability to of since margin non-GAAP forecast, due the spending QX. Operating also midpoint was QX control than higher during Gross of expenses our of were our were lower
our results and Now, through Please that, adjustments. of the figures. non-GAAP comments about note GAAP that refer follow, to QX the to me walk talk before my I balance non-GAAP QX I'll let guidance, the
accompanying and GAAP earnings release reconciliations to disclosures presentation. the and see For investor non-GAAP
$X.X primarily include $XXX,XXX. to compensation was stock-based For million; expense costs, acquisition and non-GAAP QX, intangible adjustments, approximately approximately the of by the amortization GAAP approximately Xcerra million $X.X expense; restructuring driven were
is with $XX.X gross business more and than million Temporary was Operating QX Now our gross was guidance million higher Revenue results. The better-than-anticipated line expenses million, customer higher sales. our of Asia from factories. second million no in of QX, $X margin In than $X.X XX% the cost than $XXX.X reductions turning or quarter, our the XX.X% were for and in utilization and In remain of guidance. lower model. to midpoint Cohu's forecast. QX effect. margin accounted
was effective tax XX.X% from QX benefits generated The Cohu's primarily quarter was non-GAAP Non-GAAP and rate Germany. $X.XX. quarter losses income derived second guidance, as EBITDA was a operating sales for tax X.X% Second XX.X%. operating the non-GAAP of for result EPS adjusted than lower was in of
to Now turning the business model.
end XXXX, acquisition cost the achieve the $XX to of we million completed synergies. fiscal of of the required actions As
March announced continued salary temporary periods $X while per approximately taken we an of investment we've market which beginning the quickly at to reduce in actions products, adding in costs million ramp of The at to end for effect we implemented allows expenses April $X.XX low took model. and support strategic by flow about ability cash reductions, our As the cycle. reduced operating demand production up to positive the retaining further of quarter of further and EPS during
in approximately cash in well of necessary used was to Now increase end purchases test our revenue one $XXX cash and equipment lowered moving mainly recent manufacturing to actions, cash-preservation to was $XXX to reduction million, quarter Combining consolidate million reduced breakeven $XX operations and the to required the QX facility. German Cash QX sheet, and cost Philippines been balance handler we've operations for the as our per million driven of by million. additions at has to CapEx quarter approximately million. and into business $X.X Japan, EBITDA the during approximately balance was $X.X contactor as second run capacity the capital
to Now, third quarter. moving
provided first sales directional week forecast during we May. quarter Our third the has of since improved guidance, the
expected factories Gross to $XX and to COVID-XX. between sales are million constraints quarter-over-quarter. COVID-XX, is end $XXX associated The disruptions expenses of supply revenue. for range to a as to assumes or potential $XXX Operating of due guiding For result on margin to low book-and-bill for required no risks sales chain Asia accounts our be XX% QX, approximately to which be the and be well QX million, potential operating for we're projected is between million. flat as revenue with essentially acceptance, customer as XX%,
at The at QX rate be to expect QX tax the approximately midpoint forecasted We is of adjusted XX% non-GAAP of XX%. guidance approximately guidance. EBITDA midpoint the
And we'll call on quarter business be prepared guidance. with or line be of for more current approximately approximately That QX $XXX and shares. we concludes QX now the For count uncertain, a revenue of normalized XX.X our million million market model. diluted the The questions. in projection purposes, volatile outlook although, XX% expected to our midpoint and profits flat and tax effective fourth share of remains modeling is the rate open to remarks, is revenue expect approximately the for to with
