Thanks, Luis.
included financial and of through our I and to release that non-GAAP are please accompanying measures, and which QX including my presentation, walk other QX guidance, the investor located note to the I'll figures. earnings about follow, comments results in Investor disclosures, Information Before the on reconciliations the website. non-GAAP refer are that the non-GAAP GAAP page
represented QX systems revenue total in financial QX Now line and revenue stable our Recurring delivered QX. XX% is revenue with Cohu the revenue, and guidance. results. of consumable-driven $XXX.X profitability million. which largely in was than to revenue, turning more
sales. for second than accounted of quarter, customer no XX% more During the
driven margin by resilient costs. for lower in guidance and than was Operating business. gross expenses QX by million $X.X by line recurring labor-related XX.X%, lower Cohu's driven QX and $XX.X and were labor million approximately with guidance
of approximately income non-GAAP $XXX,XXX, loss was currency EBITDA of was adjusted and X.X%. quarter breakeven, $X.X a income, and net million. Second operating approximately foreign was expense interest Interest
loss in valuation from ] with for loss tax no loss. to was consists second income $X.X tax provision a due pretax against QX U.S. the EPS assets. quarter QX deferred The allowance but [ $X.XX U.S. profits foreign on expense reflects of our the tax of the foreign Non-GAAP million tax combined a profits benefit
Now operations flow by $X.X during million moving $X used due in QX positive to cash revenues. generated $X decreased balance Cohu stock. to from common to despite of million cash $XXX the shares million investments repurchase sheet. trough of million mainly to We Overall and XXX,XXX QX
$X our our to to support automation strategy through expand Overall, with our interface growth operations our opportunities $X remains businesses. factories program. our related in CapEx share and balance in with shareholders markets sheet investment Philippines technology served strong portfolio repurchase in return QX capital was to supporting for and million million, approximately Malaysia, and to and the line Cohu's
weakness Now $X to outlook. plus continued million, historical We're remains reflecting to facilities of And million, cell quarter-over-quarter, our customers end threshold guiding $XX capacity. production although the range or test for add increased moving QX customers' the test utilization minus below QX markets. to revenue be across it in at more
high-margin profitability financial margin resilience revenue better Cohu's is consistent products cycles. this to than cash the in provides and level target due forecasted adds at our QX to model differentiated recurring industry to part flow stable approximately and of be XX%, which through business, gross
infrastructure and our device factories' recovers market expect with revenue a better broader We with gross semiconductor again increase recovery of when margin our costs. absorption to
Operating expenses developments. reduction million are to $X due certain projected as QX about approximately primarily for a quarter-over-quarter and labor to product million optimizations decrease to $XX completed in we
the action have we noted As navigating through without on taken expenses product prior earnings to new cycle. calls, I sacrificing of trough this critical reduce investments while operating
a in we're second to average As operating per half million now the this $XX of result, year. expenses modeling approximately quarter
foreign impacts, at of current to be interest interest rates. expense We're income, approximately interest million currency projecting and QX net $X.X
We X%. expect to QX EBITDA be adjusted approximately
tax to The The million QX tax markets shares. this expect approximately the foreign navigate without non-GAAP be share from Until cycle. profile benefit of expected basic to million U.S. provision approximately provision count XX loss. we expected on profits be through a QX as is we similar recover, $X.X tax is for because
open now to and remarks, questions. call our concludes the That we'll
