morning Good Vineet. you, Thank everyone.
we Before we results, what environment. discuss I'll an on business the seeing our provide in again financial update are
demand visibility remain based our and more exited design mentioned, patterns order extended on areas. We of Vineet with robust focus backlog As a wins. year QX across again and than
evolve, monitor leading indicators continuing conditions and markets in However, to we for we are acknowledge the changes sales macroeconomic channels. business to uncertainty and as continue our
Looking significant XX% fiscal is with in fiscal fiscal units, projected at XXXX. to auto, which opportunity, for in we be XX% sales, our of to compared projected X% to Further, auto another EV to is reports an see XXXX significant year, end XX represents increase third-party XXXX. nearly production another global XX% recent and highlighting XXXX is e-Mobility X% and to and markets the According fiscal to to production growth. million fiscal continue opportunities our in align in projected adjusted our and our by by beginning increase to by of increase
continued industrial our applications, while see to to demand as other growth which expected. include our in markets, soften markets, targeted in continue also has We consumer
and the to we QX, of we quarter our the environment, to began towards in wafer supply die see to on end additional wafer the banks. rebuild Moving and capacity, started
our further We wafer improve reduce us allow expect lead to build believe and to QX to continue and times bank backlog. in past die and this will due
XXXX In beyond supply make and and team fiscal progress fab considering to for technology, cost addition, location. our securing chain capacity continues on
QX adjusted was Now turning income results, $XXX sales were million; operating gross to XX%; XX.X%; was XX.X%. were and EBITDA margins
sales, combined an contributed of of XX% and were or sales to year-over-year. performance, $X.XX XX% year-over-year. XX% margin million year-over-year. sales, automotive, sequentially with increase to and share, gross our an increase EPS $XXX X% automotive Within increased strong of XX% e-Mobility XX% sequentially Record Sales QX customers per
were features X% million, EV of sales transition sequentially, XX% of sales increase auto an and and of a ADAS of sales, were year up $XX a XX% but QX are an were And to sequentially other year-over-year. million, decrease e-Mobility Industrial increase sales $XX XX% year-over-year. the XX% ago. Highlighting XX% from
as sensor near a center million, and sales XX% we of were were products sequentially XX% power $XX of perspective, decline some magnetic The of and where an other $XXX increase sequentially an our year-over-year. million, wafers year-over-year. product XX% by inventory X% allocated of see increase data of sequential Sales business driven line consumption. term to From areas decline a was we
Japan, single XX% we versus this we sales, our QX partners work the inventories XX% of earlier to of remains with XX% sales of to again XX% of XX% the through sales of levels restock Sales than again, with North rest strong Europe continue Once year. in more in no sales represented distribution saw customer our And more both XX% normalized levels were in and with geography to China, trough by in and America. well-balanced sales. and Asia,
basis at margin XXX positive Turning to leverage test by to of QX, continued profitability, mix, an and foreign points compared XX%, increase driven gross was and facility. favorable our exchange assembly
points compared compared points XXX beginning and Foreign at year. of XX basis our fiscal incremental contributed an to QX, to rates exchange basis the
QX sales a increased XX.X% on to expenses in of sales and of of XX.X% dollar declined compared XX.X% sequentially XXXX. percentage and Operating a fiscal by basis in as X% to QX
of XX% Third quarter expenses and were sales. research development
expenses XX% sequentially operating down were leverage. SG&A And strong to contributing and
income a and ago. XX.X% year from Operating XX.X% XX.X% up in was of QX sales,
XX% income sales increased sequentially of X%. by comparable Operating increase on a
rate the our certain tax credits. of X% our full in tax in a foreign approximately We XX%. be effective treatment due to the non-GAAP than fiscal lower year was expect to now rate The change quarter guidance R&D
million year-over-year. And XXX.X count increase in diluted of net QX was per The $XX.X million XX% $X.XX sequentially share XX% was income an share, shares. or
equivalents to ended and flow, $XXX cash and Moving million. balance sheet QX of the cash with we
days days In was days QX. terms consistent of XXX in And of inventory working up XX with XX were in capital, from days QX. DSO
Cash free and flow cash flow was were from was Capital million. million. operations and equipment primarily million, expenditures wafer probe for $XX $XX test $XX
fourth be this midpoint are XX%. sales to increase year outlook, a range Finally, turning in to $XXX of QX the to million at full quarter $XXX sales in of we the projecting million, our of we expect and the range,
to gross and margins And approximately sales. expenses expect of QX be XX%. between to be XX% operating XX% expect We
our the assumptions, non-GAAP and approximately expect anticipate XX% $X.XX rate be to be legislation, in shares. earnings Using non-GAAP diluted upon tax we to XXX Based to per our to million of approximately share be share range tax account we current these $X.XX.
As ends March our XXXX XX. weeks on quarter fourth includes fiscal reminder, and XX a
will I to the Vineet? Vineet. now back turn call
