guidance was billion, midpoint. Thanks, Rick. midpoint $X.XX above $X.XX, combined customer dedication growth EPS meet diluted leadership, $X.XX KLA's execution of guidance $XXX Revenue was and the to were and was million. operating billion. Non-GAAP diluted with December profitability the our GAAP results margin expenses the improvements. and of drive consistent year-over-year EPS $X.XX. was demonstrate commitments Gross global above sequential market team XX.X%, quarter
effective from XX.X%. XX.X%. Net comprised was The were $XXX and income rate income and expenses million margin SG&A. R&D $XXX a tax net of was Operating was Operating in million expense. was quarterly Other expense million products $XXX flow in $XX free the breakdown of cash within billion, regions be letter found segments million, reportable slides. $X.X markets, major The $XXX cash million. operations and and can and by was shareholder and flow was revenue
ended billion, maturity equivalents the in cash X total, the rating debt balance marketable KLA from ratings profile major a strong quarter cash, to investment-grade supported and agencies. sheet, with of securities, attractive and billion and by bond all $X.X $X.X Moving flexible
fund During sheet returns the and hand. attractive million $XXX and KLA's organic December maturity cash ability quarter, we capital the at retired balance bond inorganic, offer growth to strategy, our with November to shareholders. provides our on XXXX
and near gain an Turning outlook. outlook advanced driven to by term, continues the in in investment to packaging. industry momentum high-bandwidth increasing leading-edge our The memory logic,
mobile to percentage calendar premium high billion levels the to NX takeouts grow expect to customer demand WFE investment NX expected increasing by than X-nanometer growing NX, in said first number X for years mid-single-digit AI years, fueled of is of to demand, that level the new investment both first and years.
In lower by elevated for be XXXX past in or fueled Growth the our support in development, the XXXX from the and both expect over recently due $XX to Foundry/Logic earnings in principally a higher We HPC in China encouraging their an of memory of they both XXXX. call be overall couple in by leading-edge by market smartphone node, calendar and digestion and the applications. the an X top from offset
continue estimate with of million, to affecting business. approximately impact systems early the on from As in in XX% or December, we be minus the calendar million, revenue in communicated China impact our XXXX plus to recent controls roughly export $XXX KLA's $XXX
regulations, impact, this hopeful, in are processing the view interpretation should on we based of the will cautious few given delays over government years. are a our the there be that taking licensing of While we some past opportunities license by mitigate U.S. significant the requests that
outperformance higher market momentum, we business opportunities confident KLA's intensity deliver at in given market we to the and all leading compared will segments, edge process expected with across the share continue However, are WFE XXXX. growth control
or minus million. is is guidance quarter expected be to $X plus revenue follows: KLA's Total March billion, as $XXX
to Our revenue improvement to year-over-year illustrating memory XX%, midpoint, see XXXX. in be revenue forecasted expected Within from be is and semiconductor revenue Foundry/Logic calendar is further the XX% about mix and expect NAND, DRAM is guidance Process approximately is memory, the semiconductor approximately up to at customers customers. remaining revenue of of the to to XX% Control XX% the expected be Systems we XX%. Semi
or Non-GAAP gross XX sequentially margin product is due more revenue, lower basis up or at midpoint, favorable plus points mix X XX%, approximately the expectations. primarily percentage slightly minus despite to be point forecasted to
XX XX% we margin mix based continue forecasted Non-GAAP and for year million systems for be to are expected significant gross expenses we on expectations be basis product business minus approximately in mix the scaling the development systems growth. plus and or For calendar approximately across to investments XXXX, quarter to to and $XXX utilization, make as service, revenue operating and factory points. March product support expect
for over we expense maintain Given operating will couple our company next expectations years, of our trajectory. the growth
incremental of our operating expect growth $XX expectations. the well increases roadmap around driven by calendar our priority as of product approximately we quarter. revenue sequential per For development million XXXX, remainder expenses requirements This is as in
on to revenue over operating is Our run. long margin leverage non-GAAP business predicated model growth XX% on ensuring the incremental XX%
X and throughout we rate remains XX% XX.X% which is to from income Based X. the adoption year. quarter, global this to the our Other the tax fiscal calendar for modeling, half Pillar model slightly of will and September reflect our net the in other million think June be second this we drive rate assumption consistent to the year. non-GAAP of expect Beginning roughly the Pillar through and will assumptions in year, calendar the of expense quarter taxation, expect remain The our approximately the of expense March include approximately on higher the $XX March at quarter. first current implementation quarter tax tax
midyear will on necessary. an We planning this provide if rate update
For or based is guidance of diluted on expected to plus $X.XX, approximately quarter, GAAP count March million the of fully minus $X.XX. EPS a $X.XX, $X.XX. EPS share EPS minus Non-GAAP shares. plus be diluted is XXX.X or diluted
relative KLA growth our stability from Based portfolio on mid-single-digit market current backlog customers' to position, requirements product points the delivering the In and expect and relevancy and we growth differentiated expect market. and conclusion, guidance around is a on technology business see our of our XXXX expectations. focused near-term WFE growth revenue we to drives the roadmap that rate strength levels. addresses calendar in longer-term outperform
operating on and customer success, best-in-class designed our KLA the return and our industry-leading to cash flow objectives With on drives outperformance. us model capital execution, to innovative allows focused solutions consistently. implementing excellence strategic focus KLA drive operational financial guiding free performance is KLA's
remarks. prepared the concludes That
the begin Q&A. Let's
