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future current discuss balance strength believe us to and our maintain which ample liquidity moment support operations investments, the our a sheet zero necessary support business million convertible value take on the of $XXX of like cash balance our credit short-term total line $XXX navigate environment, quarter million. and capital with I'd and ended provides and to in to We flexibility plans Now expenditure the face debt we growth. our with a
days. For used Cash days in days $XX the was free cash the flow XX $XX operations of negative a in in million. expenditures quarter, third in at came outstanding hand were quarter, day million $XX resulting capital on were and and million third XX sales inventory
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our turning to outlook. Now
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RF that and in navigate our improving, underlying protect devices will we demand headwinds Covid-XX of power While lower stringent our productivity. safety we implemented for and impact to near-term more to continue including employees, related utilization which is the to factory the measures
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expenses and production continue between range costs, We in we while $XX which our for manage operating Wolfspeed prudently are Valley plan XXXX. to business, to targeting investments million Mohawk our our as ramp to in million products we on plan our fab GAAP $XX speed prepared executing
and non-GAAP to QX loss approximately we be $XX between million million $XX target operating income million. target operating to non $X to We be
a million expect to targeting diluted QX net loss to We're XX%. between $XX rate effective tax non-GAAP $X.XX or $XX be be to We non-GAAP $X.XX million to per share. approximately between loss our
EPS amortization, other transaction non-cash and related cost, extinguishment, items. convertible intangibles stock target based our compensation, restructuring excludes factory debt transformation notes; gain and optimization cost acquired on on and non-GAAP Our accretion
on factors the Our QX and based that demand, factory product including Covid-XX, with competitive several the vary environment. targets situation mix, are greatly overall productivity could
With turn the back discussion Gregg. that I will to now
