non-GAAP Quarterly from expense million. Total was million, would Non-GAAP a Cash $X.XX strong with ranges. of and service cost despite performance was with and than free guidance. margin XX.X%, was challenging September operating consistent debt product above were cash work in and expenses margin XX.X%, was the EPS points was in to Non-GAAP line EPS was GAAP quarter, income $XXX flow higher Thank $XXX SG&A. rate guided income was richer end non-GAAP demonstrating was million operating $XX million. a the tax better XX diluted in you, of at operations range guided $X.XX non-GAAP of gross due all a Revenue billion, coming net the quarterly [ benefits was net guidance million, $XXX been $XXX and $X.XX.
million the diluted non-GAAP the non-GAAP X have ] KLA was comprised GAAP marketplace. tax expenses million, flow mix other million. R&D execution basis rate $X.X upper $XXX XX.X%, Rick. At from delivered or $XXX Non-GAAP was and effective operating $XXX model. XX%. income and EPS $X.XX,
within end strong breakdown segments found be free major XX%. shareholder free was regions and The diluted the flow margin As had the and XXX the flow a at outstanding slides. average by of letter was quarter. XXX% and million revenue end and cash result, and cash The a of conversion company reportable shares products approximately can markets weighted
has billion equivalents profile and cash strong attractive cash, Turning to debt in investment-grade marketable with the principal total and an the all by securities, X flow cash a impressive cycle and billion of high conversion economic balance free cash supported across the free from conditions. generation, $X.XX agencies. quarter cash ratings and consistent flow all of business sheet. flow KLA free margins outstanding phases bond and $X.XX history strong KLA ended of flexible maturity
last XX quarterly in on announced grown highlight consecutive in the rate. X, billion Over shareholders, an to $X.X $X.X to compound level inception to million dividend increase. September and wanted and XXth $XXX in Since has from the dividend share paid.
I that KLA months, $X.XX, KLA repurchases approximately also returned XX% quarterly increase growth billion dividends dividend annual the level in its per $X.XX annual KLA has the including share XXXX,
repurchase our billion $X reflect in [indiscernible] XXXX return announced our Additionally targets. incremental along authorization. confidence These the business model financial and path KLA progress actions we an capital as to growth share strategy
outlook. our to Moving
we As outlook the XXXX. calendar market XX% to of XXXX of approximately relative adjusting $XX billion, our up from industry, in decline review wafer a the performance fab reflecting and billion peers equipment $XX across are for level assess our we the approximately
on meaningful and this overall business investment remain soft, expect see as in a markets underlying we of demand continue timing KLA's WFE levels, unclear the we to remains end growth around While resumption demand transitions, stabilizing continue most current across interest through environments. which ] is first XXXX.
KLA's enabling prioritize continue technology innovation into all to and the to half calendar our customers of primary profile [ focused business value proposition
shipment relative are our maintaining will capacity growth in with as financial our investment continue plans customer investments performance. road expectations demand map more strong R&D adds maps level we changing market environment, business technology additional to and slots on adjusted While and to often align movements, customers leadership advance resilient. to product expectations, road requirements. due high and delivering This this map our In meeting to are focus KLA's road revenue of confidence
expected guidance control for total our versus as and and logic quarter to for XX% gross and systems [ We are be NAND XXXX are mix be memory of to gross in expense expenses quarter period the in an expectations expected to rate operating point, about minus approximately to net billion, to the be as margins plus of effective revenue September Non-GAAP non-GAAP is is be realized Within mid modestly income or benefit XX%, the XX%. September other be of foundry guidance, quarter up December cost is forecast DRAM be As range. non-GAAP plus $XXX of calendar model end ] around Other semiconductor service is XX% $XXX product segment December percentage are to XX.X%. of guidance, this semiconductor X minus include tax approximately million, and customers. forecasted XX% mix expected million. process $X.XX or to million and XX.X% $XX approximately weaker expected the to memory, Inclusive normalizes. the margin is follows: expected quarter approximately revenue assumptions
we strategy to GAAP technology road portfolio through to differentiated approximately diluted diluted our execute non-GAAP our supports Though minus focused capacity the have XXX deliver EPS on portfolio remain shares. we $X.XX, a demand $X.XX business requirements unclear, that sustainable and to is count ensure our growth $X.XX.
EPS and business sized and or Finally, our based customers' fully we maps. diluted of still long-term of million conclusion, calendar differentiation in map that product share road expectations. guidance minus we with plus $X.XX XXXX meets in technology is that or recovery industry successful EPS In expected our the our remains customer in we driving are was innovation plus on execute correcting be as a line that
model implement With operating objectives, execution, our the outperformance. are continue to which best-in-class KLA here drive strategic to guiding we our
enables capital operational on Our free and industry-leading a cash solutions differentiated delivering success, deliver on us innovative is flow focus to performance return excellence and what and consistent financial and basis. customer
and near-term trends. technology is to for relative confident our well are enabling to positioned also by that growth strong outperformance challenging advancements are near-term importance driven performance service. KLA investments performance long-term specialty in in to semiconductor calendar XXXX. process bodes that wafer reticle despite exposed and is and to control the market demand We outlook of relative than KLA infrastructure well businesses financial better deliver continued our growth semiconductor controls contributing KLA's process uniquely
our Q&A. to prepared trends concludes intact Our industry secular compelling. and long-term the That are stabilize and begin semiconductor investments WFE in remarks.
Kevin, business remain the demand let's and driving continues
