Thank everyone. and you, morning, Vineet good
and record it with firm again QX certain certainly backlog softened, I'll as us the of demand environment. auto is financial to robust particularly with extended in ended provides industrial Before we demand, provide discuss consumer standpoint, demand and visibility. what non-cancelable in We the market an are has computer we on markets business continue that and and results, in update the terms parts we see the largely a of expected. seeing the From
our continue good We as build. we inventory to well levels, visibility, inventories, of evidence have review order seen inventory we have including an patterns not where channel as
We our focus also with continue to we true align to believe demand be areas. in our strategic what supply
believe that we our together total to functionality markets well represent automotive electrification While nearly these uncertain, macro global and sales markets. demand in within industrial our is the we robust see business markets. megatrends we continue of These is autonomous recognize environment and aligned and to the XX%
secular focus have xEV In Within energy data or areas X.X. on our areas and industrial, the opportunities Industry as long-term We e-mobility. said, been these markets, strategic clean a ADAS, we has strategic offer and on broad for focus Allegro. center, believe focus Vineet growth these of
to the to in grow is by mid in within trends industry, example, digits to mega production results. XXXX, single is XX%. also these expected xEV evident light grow while The For vehicle is production in business high our the automotive of projected acceleration fiscal
basis, sales automotive LTM sales While Allegro's XX-month XX% last on our on basis. a increased by increased XX% an xEV
and exceed increased still sequentially XXX-millimeter From In tightness related sales to represent sales supply, of availability. total a now compared XX% to focus near-term supply our XX% year XX% demand in addition, a continues with areas to total wafers strategic and by to ago. largely QX perspective, XX%
to partners able been a ramp to our continue relationships, work we've supply. result supply. And with as our strong supplier closely available this We manufacturing to expand our of
over the are we With increasing XX% expectation XXXX. for fiscal approximately incremental capacity, sales our growth fiscal committed to XXXX
non-GAAP QX on stated sales Now note $XXX.X Please of all are we a million. income record QX, to related In measures, sales, that turning results. here achieved except basis. statement
of were was Our XX% margins XX% target sales. and of nearing OpEx our XX.X%, target gross our below of
and Within to first sales were As both with our QX up robust we guidance XX% of sequentially the of quarter supply and industrial XX% strong growth by million, million automotive home double sequentially over increased represented operating of a result, sequential of QX XXX% of in sales the on had be to execution in and price, in grew and and partners our QX from of We incremental a $X.XX million. XX% Automotive and particular internal per sequentially test share. center above our X.X% in of QX, income EPS to growth very sales, in continued a year-over-year. XX% more operating with the year. compared increased include in sequentially sales XX% up from sales xEV $X.X were higher sequentially and end as $XX fiscal XX.X% computer was through leverage to the Industrial by consumer XX% to Sales of up quarter. than in XX% growth high another to which sequential and Other good increased facility. foundry assembly increased compared and from $XXX.X $XX distribution X% prior ADAS result the ASPs data XXXX. areas Sales mix million, by overall range year smart ago. applications saw our all market and sales and
in diverse again sales and Asia, were global Sales well-balanced in rest in Japan, and recently XX% XX% This also customer just and with China, Electronics. our partnership in by a XX% into pleased semiconductor new Mouser distribution supporting are base. have with creating very entered enhances of North component XX% to commitment a to retailer of global America partnership We XX% Europe. electric geography
Turning Gross and as volume for in increases inventory were in continued have higher of pricing. quarter cost In increases our end of do guidance to inflation committed near also remainder and range. as high mix from QX, of Gross and quarter QX. see from effective our favorable out the QX. We in profitability. the XX.X% was we the XXXX margins increases margin as pricing benefited of QX the as that to wage the calendar sales well cycled cost impact in wafer annual well
and cost in have feature-rich price towards We sales mix improving margins chain, products, been select expanding our increases our effectively margins implementing maintaining successful operating more with leveraging supply fixed and structure. the our gross our
$XX.X compared target continue XX% we maintain margins to progress or a XX% Operating result, in towards to or this range sales in expenses of a basis. gross sales as on XX% As XX.X% $XX.X XX.X% expect to to our in short-term, our we million the of sustainable million were of QX.
in our million $XX.X $XX.X of We areas $XX.X continue to million invest of and was in million. $XX innovation, particularly, XX.X% expense expense approximately sales QX XX% fiscal of to and compared focus increased or million income SG&A sales million strategic $XX.X Operating to of or sales or in and XX.X% QX XXXX. R&D was in
was We guidance our of the approximately points quarter leverage XXX increased count continue QX XX% as in or The on below of XX.X% of the to effective our was as basis tax as And operating by another demonstrate diluted in XXX.X XX.X% compared legislation. model a year ago. million X.X%. operating net to rate income $X.XX a margin an $XX.X of result result share, The recent comparable million US was per increase share a a increase sales tax sequentially our shares.
of at the represented and XXX days with several still Channel and days $X.X XX days. the inventory consistent below cash consistent low QX to to QX million, of levels with with marginally XX our million. cash prior We equivalents increased $XXX balance consistent inventories remain was also DSO in flow. and continue Moving quarters. days to QX and well sheet QX and target XXX ended by with which
was cash flow expenditures $XX.X from and capital expansion operations capacity were Finally $XX.X million. $XX.X million, cash was a flow free for flow cash from million standpoint
Now turning to our outlook for QX.
sales be expect the $XXX million. We in in million of QX range to to $XXX
in be to XX% to approximately range of we margin operating sales. gross to expect expect expenses XX% We the be of XX% and
share be could expect XXX.X we our QX tax we of could be be share million upon For our in legislation $X.XX. QX, we range tax count earnings in to assumptions no rate $X.XX XX.X% per and Based shares. will approximately assuming to anticipate diluted the these changes approximately expect
to closing turn Now Vineet back some Vineet? over I'll call comments. for the
