Thank Tim. you,
quarter. As with have execution very pleased also business with and financial our development operational the we third Avid's during performance, been
second As discussed calendar XXXX, expansion in quarter Avid facility. a during late two-phased initiated of the our call Myford
of expand The first production North plan, to capacity proceeding our phase, Myford facility. will the which is according
to is II total what will to additional in second Phase of create a effort, our only phase top as million back annual annually. expansion. Phase created capacity of expected capacity on expansion add a revenue, the up of business $XXX solid the On can of a development also further initiated revenue The very described be million which, I, by $XXX the we have
development Furthermore, of look a II into further high the new growth, projected to to capacity expansion current customers our to commercial will automation of well commercial accommodate manufacture. to digitization backlog to successful focus as existing provide us enable this clinical we as as continue customer and customers. As consider onboard and our forward Phase and we incorporating growth we on capacity level
with onboarding the new deliver execution revenues increased anticipated, now development significant demonstrating group, starting our translate of model increase in As improved activity into a solid to and that customers three utilization business with The in of revenues. quarter increased showing drive the margins allied profitability. combination and can both process is operational growing
raise these As successfully were XXXX of community manufacturing We financial the $XX.X with execution already the activity, solid closing, to significant in close, to continued in also facility proceeds improvement metrics key to third expansion margins line significant to growth good other are contributed and top all gross the and development support the use. business. process to the in offering this received was fund quarter were funds financial was all we during from of fronts, to very and and delighted we revenues the state-of-the-art million support operational of pleased our came putting growth strong, enthusiasm exceptional a and complete on during the quarter. In were the
that As resulted have aspect million quarter a quarter, backlog in during booking and pick efforts special of in much new in as any to think business it is deserve our $XXX of mention. $XX of the I million the a one difficult resulting the
million. second the to raising and revenue XXXX a As $XX million for we are between our result, time $XX in guidance
is today the not my fiscal final delighted up the enter future. I and call the open which to executing questions. financial XXXX, is continued plan, remarks establishing can we but see also the we of prepared for now as team to This growth driving for also concludes the year growth necessary in Finally, foundation quarter today am Avid only for Operator?
