very Thank downturn good continues current you, operate Thanks Claire and and day. everyone. strengths calling busy spending. Nanometrics this on for industry in with earnings in afternoon profitability to the in
the revenues somewhat quarter results million $XX.X revenue mix at of our different forecast. of forecast, compared Our higher reflected resulting first a end in to our
of margin the Our very end lower the quarter, gross higher-margin and business XX.X% and mix place customer as in QX. The in snap to gross margin expect we were at back materialize in product into of quarter current the took the will instead forecast. our in shift late
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the in the in higher of stronger versus made the earnings in strategic objectives. earnings end call. at level compared is in our of note R&D forecast maintain share. year to that reflect decision QX the last our per of to It our important to the investments for $X.XX outlook of the combination, in our continue decision lower level In longer-term such revenue QX expenditure came we R&D of As support at spite our to level forecast,
first introduction version the and the of which foundry, Optical III+ device have the and from stabilized IDM automated or increase Atlas recover begin a that forecast with gain of volume a The productivity, quarter production traction rapidly highlight semiconductor for second the high with and enhancement industry-leading in across very manufacturers Dimension Atlas revenue sensitivity system. to recognized and III+ flagship multiple proprietary, Critical point, both development Atlas memory reflectometry QX low our memory the increased ellipsometry environment. metrology of from has Our other OCD strong significant latest performance is half and logic is market III+ provides will both confidence was and the technologies, the markets. from leading our application quarter With The revenue with their customers and our and to accuracy. first world's company's successful
XXXX gauge Innovation February at Photonics SPIE honors category. Prism market. XD event in has $XX measurement XD November qualifying program. XXXX new million products new The the InSpec we was and last highlight we plan. first defect utility year. received the best international Also for of won we Another a leading features instant, importance technology in a XD award in in test award acquired the XL is measurements making Award company completed new InSpec the XL that the The competition quarter, by a repurchase in for parts. received West the the and and March for The Through Photonics surface stock announced in million Awards in inspection announced XD manufactured repurchases stock which the XXXX Prism in of its $XX photonic
new Following capital opportunistic have our not announcing cash the such in The flow to we blackout new team returning to company’s against prospects growth purchased in expressed stockholders. in year, company announce expect new continued management Directors period generating future plan commitment Board and but over repurchases activities at our this the last the confidence buyback in share was of the from $XXX operating of the and support shares to of as million in our plan, onset yet March make program.
results. regarding detail Now, quarter first with more some our
the quarter-on-quarter sequentially IDM Our nearly XX% first from revenues from in the in and quarter first than growth more and balance the to After prior product QX. contribution non-memory quarter markets device XX% foundry, quarter and market. grew reflected contributed revenues memory other revenue a XX%
our the in in March expected XXXX. which that represented we the for indicates quarter revenues while to sequential memory our the decline significant business current of a other product sales, is be Now, forecast saw memory low point QX, in XX%
We are occur forecasting significant rebound a to memory business from this our not year.
well on the our next technology will recovery and stabilized the business expected in nodes, the modest China the member that has planned with improve the and of spending, year. current QX second as believe as spending in project However, domestic we levels half above quarter
memory NAND report the For to product where sales should contribution XX% QX, note within technologies XX% the emerging segment. remaining driving We of our XX%. we memory the NAND DRAM here contributing that and all
foundry, NAND Our are both markets. In with revenue contrast, expectations expectation industry for is the DRAM and revenue other growth for decline and year-on-year device for our consistent very IDM significant consensus. year-on-year in
strong during second half the a the resume expect QX, we in sequential year. While growth expect to these decline in of segments we
For growth gross remainder be expect above QX above model of revenue snap we range the for current stronger our our the expect for target back to or With revenue XX% gross specifically expected to second than which to the XXXX for with drivers we deliver be performance at the To expect expected half half our our significantly second year. to of first summarize level. in will margin up XX% we from visibility margin half growth, to first the levels the target half.
spending revenues quarter as as this mentioned pilot modest from low represents conversions and a QX memory believe we reflects domestic First, our recovery and in in first technology lines forecast the as in project expected investments level year. well continued China. our earlier The stabilization in point
half and foundry, since strengthened device last for outlook the our Second, IDM markets second other call. our improved has
as year-over-year as Third, other our well from WFE. those total markets material we sales the total our stated expectation as business, overall to and in in contribution half technology decline expect characterization addressed modest In consistent is our increasing from the objective a XD end with such second for outperform by service.
year half with significant the our rebound. We operating objective revenues to as also the expect profits than consistent of to grow leverage faster revenues in second deliver
financial continuing R&D performance above model XXXX, will the For and are gross future or of margin investment deliver growth. remainder of expect at target support our in we we our
robust have We new a under development. products of pipeline
increased During to applications of performance see enhancements been The these next adoption and technologies our new product. flagship new for which rapid launch our clearly productivity multiple the our more testament to III+ Atlas is privatized industry-leading product recently for with core customers address demonstrate More by our been in customers of and introductions have are and success a XXXX towards developing solutions. to platforms our and years capabilities the therefore last early eager been product the launchers three generation devices. from new we've innovative
III+ expect We additional today's revenue drivers. to of build future the announcement growth upon Atlas with
and industry-leading growth committed our drive margins, complement target value in execution, and strong revenue balance revenue with beyond. creating Our are is firmly and efficiency toward operational profitability we XXXX as we shareholder to sheet cash and to growth strategy flows
million million million, to our $XX $XX $XX and the Turning to quarter of of approximately per the expenses gross to decline guidance a financial margin to which Greg operating represents to million the QX, earnings now to and detail. for for I’ll Greg? over of results $X.XX midpoint in $X.XX. at second X% plus XX% is discuss call turn $XX more guidance which or X%, share minus from revenues of our
