Gregory R. Beecher
results good then M&A and everyone. the I'll of aspects morning, Industrial our the moves, second outlook. financial some comments provide cover Mark, first and quarter Thanks, and cover brief on Automation XXXX, quarter recent
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noted As calls, we and tooling will to our have volatility. previously in experience annual quarterly continue cycles quarterly
a start billion, any have we've flows sized was the volatility. for SOC implications where this we three strategic market this years and $X.X was tuned XX% years swings, they long over on decade, above rate billion. continue, below $X.X for has averaged and this ebbs the had it at will when our our $X.X While non-GAAP three these period. that Despite annual operating Since trough these these an being market size eight-year level billion, swings. of the finely for don't modeled total The of basis point Test annual market us, we're with profit SOC ago just operations of is Test as company
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with to year get distribution We're who managers possible start very word what our partners. and on lead manufacturing still front, media aren't digital large upping also as programs many UR tight we'll call our this the cobots. today there with aware is accounts with and coordination On to some OEMs directly print with channel the are of generation out,
have customer On moat. On theme, will the leader development we cobots in a the product front, acquired and our train in and and widen motion task setup cost easier open recently lead market control even the up lower even making we're though to we more applications flexibility, same planning. ease-of-use competitive Energid, as this
In business, also addition our up for user to their ongoing will Energid's open more cobots. advanced software algorithms applications advanced
our we're Lastly, accessories rounding don't we certified have offerings ecosystem the some key mainstream strategically by of targeting the where out for tasks. developers UR+ regional
tedious to and lead expand are for there underway many tasks our automating are that So actions repetitive humans. in unattractive
record. costs where high, for secular share proven can switchover that we date, our strength. Test. we recognizing it's price area itself our growth does component profit and by The I'll Semi year, of more preserve targeting new rarely test, track a flash continuation our second to concentrated we're growth. Test, EPS the strong margins in gross about to out is so is for careful where follow key also interfaces principally are low on major growth, one drop-through share. further is so final continued that our plans on Memory share which healthy playbook, trend sales another and This with gains These line architectural Magnum's To shift high-speed plays move differentiate
to in Memory consecutive the with since Test level sales gaining significantly wafer and million have of on to market test. track growth years entry prior our We're points given XX of record six XXXX XXXX. test share our exceed in of about strong demand expect final We $XXX into
on and the black modeled the positioning while moving businesses. year. is are XXXX at the system Now to storage Shifting for Defense and securely Test, production all good and to And leading quickly mix. for in cellular chipset the with in we'll so test test further occurs, expected operate aerospace, progress maintaining Wireless goal board XG we're operate ourselves test, the Wi-Fi, to Wi-Fi profitability be when the our waves out squarely in on lead. XG that next time. production buying we're In buying the wave the front, making players larger market the to
profitable before in if revenue The the rates mobile In standalone be price million Teradyne's also profitability can to $XXX earnouts, to floors. its on highly MiR this is MiR younger million business of portfolio is approximately the stock EPS. superior these non-GAAP sibling dollars on dollar rates. the of even using excess immediately first a rest returns achieved. of in year, through this larger current targets are Our highlights. a the earnout strategy the of and for exchange autonomous gross includes industrial points in purchase is in an unit, and goals provide margins. financial a you XX% of in price first team. The allocation MiR, quarter unique many earlier million that capital differs our run XX%. global are market in our many dividends Teradyne, first selective XXXX. of buybacks sales aspects its as up to MiR's lead. and team of included M&A. the with a had capital I'll to balanced and that highlight XX% about plus expected on growth to earnout XX% to X% and include lifecycle, key and with accretive it's earn three Europe, of million. with returns will a very MiR around to attributes same basis, XXXX from XXXX sharing they by certain and Robots, cash flexibility, the America, adding strategic targets a management margins healthy Their schedule wheels. achieve ease-of-use $XXX We acquired million, and $XX well North strong distribution it's Asia performance cumulative a track revenue $XXX morning, results, offer It joining that They MiR net is to respects, quarter, world. up $X are the Starting buyback. We was led Universal are are attractive robots. million of acquired, leader earnouts separate not will of similar to an our the of about see confident which regional $XX in sales We're the
We also larger can Universal capabilities what sourcing, to strong we've Robots our to sheet. bring offer MiR company of line host around a to supply and been global footprint, similar balance able
to or XXX% emphasis in. expect the near We the on with greater, grow growth XX% MiR greater, with
XXXX. MiR's three million, the from months three $X the were million For of first months up than XXXX, of more sales in threefold $X.X first
We've Energid million XXXX acquired is up $XX Energid plus stand-alone million, million achieve bonuses. about an expected also additional contingent basis. experienced in on for stand-alone Energid. their a a for We to revenue a also details. calendar team. year management to and in $XX.X $X business for run model the by with will our on as inclusion further Energid of provided MiR slide Energid We've midterm updated
at Automation now versus Teradyne XX% revenue You'll that of the model total. the XXXX the target our Universal XX% only of estimated of contribution total revenue Robots see prior Industrial is
Industrial in Energid's MiR Automation purposes, included and will For our be reporting result segment.
fourth balances The marketable quarter. balanced drivers $XXX $X.XXX cash allocation uses. and usage from million strategy two billion, at operating to cash were: securities Our our this the capital stand and down
share robotics and in $XXX of we principally $XXX million. control Energid, On $XX dividends we leader $XX acquired returned for in motion million million the through repurchases, we former, million paid capital, a
which receivable Recall, million $XX the million buyback our a certain being overwhelming the revenue cash at approximately compensation recognition quarter, to in back-end $XXX our in operating streams this grew of shipments due days, outflows, annual payments. stock loaded XX planned to return our earlier. paid along the of first with and in standard, tax out programs year and least the new we DSO bit On we our part revenue dividends. And majority scores to certain
details the of quarter. the Moving first to
$X The sales quarter the million primarily quarter, new by with $XX fourth new non-GAAP sales million, in up at revenue million our had year, were rate OpEx sales Europe, breakdown: up one programs. Semi XX%. ago sales quarter. $XXX operating first million, $X Test making margins $XX was XX% operating totaled UR, $XXX quarter quarter. were the year from UR's profit $XX and service $XX were Asia reasons. period, Test million record. in $XXX million, rest Our expenses for and XX% Regionally the the $XX for gross Test, versus non-GAAP a North and XX% were first it's of were balance X% At UR's sales quarter, million, record to world. similar expansion the the million. million Memory $X.XX. Test This $XXX We System in quarter, up SOC Memory and due and EPS XX% $XXX Test. first million of America, sales was million a customer quarter the Test million, distribution were Comparing first first in Semi of XX% were the Wireless in non-GAAP
for $X.XX acquired debt non-GAAP the EPS be shares. million intangibles, now convertible $XXX $X.XX to to The the million. interest. guidance restructuring noncash are is second of Sales the QX Turning and on between range to and quarter. amortization million diluted $XXX guidance the expected excludes XXX
due XX%. gross guidance XX%. rate mix. second quarter second quarter XX% run total points is to the The X midpoint should to our the The XX%, profit about margin product quarter from at should OpEx first run of at And up from operating
Let cover for me quickly OpEx XXXX.
end long-term changes million expect $XX in tied from ahead. levels. spending the expect essentially towards $XX year-over-year apart compensation, we'll our of Energid expect capture approach Automation, Notwithstanding, up we the to includes for invest to Test units in full to We we And OpEx variable investments, further Industrial to our investments of In across robotics aggressively the normal profitability Shifting OpEx quarter year get fourth MiR, increased achieve to is growth. quarterly rates to three which Industrial the addition be the million the Automation now flat business to taxes. the of operating from more of year. year, the mid-teen segment This planned business profit and XXXX. full
from a rate is January tax year XXXX be started XX%, in mobile Automation autonomous Energid, robots; very full in estimate. and the expected in motion the point We're some investing exciting our Universal with about stay XX% further one robot Robots control. our on and XX% We to Our to aggressively leader additions; lead up to also midterm industrial growth MiR, Industrial leader plan.
Our also profitability generated free flows to readily of have test businesses flow and size the that, consistently ebbs our buyback shareholders significant the cash in We're year back this and and dividend aggregate With solid with call the I'll to market and XXXX the capital turn ongoing $XXX since returning program. navigate swings. million can over Andy.
