Richelle, Thank morning, everyone. and good you
Year offset Second the quarter and mostly soft positive temporary by sales in Chinese holiday were increased earthquake slightly trends market New from following the a first quarter impact seasonality as Taiwan. risk from the
equipment. safe, was investigate to significant we earthquake the size to impact after have shock manufacturing equipment. major X, manufacturing our our no facilities. a our must we there production I'm there's April strength downtown happy no are through or ensure that people and earthquake to damage following facilities The report X and as to of to hit where Taiwan damage our On and
events. addition, or a part we the as reject repair process of In must [indiscernible]
with dealing few nearly tools experienced teams Taiwan all within FPD Our IC these in were events fully are in and a recover and days.
in-process and beginning results the million. in QX order of Order of the of However, saw sales the at trend Lunar the with was approximately rates strong. a and we positive reduction QX inventory the end in consistent of at production high typically see loss time $X Continuing the Year we of New rates holiday. ahead
the return to This year, Following bookings lower customers order our see the rate usually holiday, we expectation. as increasing than was work.
following entering increased, to confidence. Since the In April earthquake the reduced are revenue solved. holiday bookings, addition, quarter and be we with third the have rates order timing causing higher of further then,
These factors gross contribute the to sales we higher operation while margin of was decreased. with FDC similar quarter, IC increase by driven in qualification expense R&D in the an lower improved quarter-over-quarter activity. quarter. margin had and Compared $XXX was slightly million second as sales first
reported EPS $X.XX. a flow to on the have, balance we growth As Cash IC. sheet our result, further in we multiple especially was invest EPS was position opportunity us was $X.XX to an strengthened in quarter adjusted during basis, and good
of Taiwan the this achieve especially dedication to results, global these that recognize quarter would I in Photronics change. the added like to the team respond to
the XX share Turning nanometers. demand. Consistent for we and previous nodes improving continue IC in semiconductor the across has U.S. mainly positive to most overall lower AMOLED to ahead not end into and was most as the segments environment, our mainstream reversing both to ahead within over migrate Asia QX demand gains. the customers regarding remain QX launches. FPD. design due new design sales by IC quarters, smartphones seen demand actually FPD users primarily was yet softer the premium trends IC smaller of X of fiscal ramped production term, driven that to will regions.
High-end market, increased, down and begin including Longer IC our market XX with and trend optimistic of High-end
well business. positioned are to We capture this
and We to also expect workloads activity processors. mega trends such as edge drive chip AI, AI to handle design
a to and support in type and be wide developed from GPU, electronics. high-bar AI this ecosystem to range of ASIC expect We power IC CPU memory of
We in to support market trends mask new expect plan. demand, of demand to regionalization supply also auto continue chain drive in
higher-value we term soft be displays plan, with this For features new introduced device enabled optimistic long-term. contain despite continues near remain by leasing to advanced photo demand, market. that Mobile
panel efforts tablets such to development as bigger makers displays extend continue AMOLED technology coms. In addition, and into LED
panels. We will produce on GX.X see AMOLED
the node for see new that many new our Our support across leading Asia, allow output believe trends designs, long-term coupled and and are U.S. mass industry. Europe. an capacity growth mass relations, maintain customer including outgrow positive upon optimistic the purchase market solution technology photomask to high long-term should strong We with and production displays. us Overall, agreement for and cycles display demanding factors we R&D relying most demand FPD for outlook advanced of
we guidance. ability expand the to commitment keep I to invest cash allowing will to our over call to low Eric and strong provide should us us quarter As enable in and proven do, cost flow continue At growth. turn our results to generate time, and third review second quarter margins this
