Mary of X% third X% you low guidance pro thank billion, year-over-year joining below Corp. a revenues end guidance. and than up quarter Organic growth revenue you, up our all and us today. on $X.XX posted of the the Cohere X% lower Thank Jane, Revenues midpoint of year-over-year. X% basis. forma were was our for
$X.XX. EPS Our non-GAAP was
generated $XXX during million of focused operating We we and $XX flow we invested flow, $XX and approach the to cash capital Our retired quarter. capital cash was allocation of $XX disciplined free continuing managing controlling equipment. costs, were cash million, million million on our intensely We of debt. our
The to integration well. go continues of Coherent
our delay performance larger of by quarter shipments, segment. in third networking the some scheduled requesting impacted to us was primarily Our customers,
experienced markets Our market long-term communications That for an our advantage the impact across us challenges is core in performance strong strategy continued share we the conditions. quarter. of market, technology market market in together clearly with and diversification helped the business that of these mitigate diversification
$XXX were with stability and Materials growth million provided segment multiple Revenues and by solid and million exposing segment the our materials. to now the lasers million segment, $XXX different performance the $XXX of business, for of Lasers for coupled in the Coherent for legacy diversification by performance quarter Specifically, us the solid markets. networking,
XX% into by electronics XX% X and into our Turning to into communications, XX% into markets, the was composition industrial, instrumentation. of XX% our sales major
of into were XX%, the and China our was went Regarding by and the distribution for world. of XX% X% region, North XX%, the Japan rest America Europe revenues accounted XX%, was Korea
to the face now manage are measures customers in proactive taking quarter, of the cash. macro challenges the inventory In and
to persist with With end, in conditions multiyear efforts. market aligning realities. are this market market, temporary part structure we in wasted To expect into constrained planned, actions as of transformation up integration our our the no synergy of pulling cost and We slowdown FY time some schedule for the this we've 'XX. to the
the have We the acquisition plan, to Coherent moves consolidations actions begun involving integration those lower-cost next phase of and sites. including
These moves, plan. announced actions alongside our track will million keep the on us delivering $XXX synergy other previously for
to We the also we undertook fourth a market realities, quarter. our current as cost begin number align of actions with
and focused facilities the facility to to is and We on we reductions lower relocation are of and announced including our resiliency our today. accelerating certain and increase expenses workforce costs. to QX began actions restructuring reduce rationalization, in costs It the
We implement also productivity to that planning provide improve and efficiency us services. enable G&A to help will to and manufacturing transformation, are a lower-cost digital multiyear our
to people $XXX million. The an achieve of news million period that position very savings expect range investment clear FY on number our will million competitive 'XX. for realize earned me $XXX million. restructuring we best-in-class these 'XX We by to $XXX markets to million good has technology basis FY million serve, at a growing a $XXX The us to Cumulative to FY cost between highly $XXX is and and the be with $XXX to will to continued that it's annual of in customers. savings the 'XX from savings strategic
Finisar long acquisitions diversified our clear and very planning of of including been and this The model evolution the executing power a for scale time, most Coherent. to larger and is me. recent We've
it's not beginning. work Our rather done, just is
wins key as differentiated performance. that technology I ready am across to resumes. manufacturing We ability and are be new lines portfolio, our will confident our long-term new in product drive our confident platforms also the to growth product secure design
supply inventory from market shortages with and cable well the telecom not chain communications, their shifted and and hyperscale managing the very our in customers continue positioned customers to strong computing abating managing anytime as their datacom abruptly With technology soon. some and in to near-term as respect experienced trends, our do durable see focus and benefiting TV with end are from that X markets well enterprise to many a we slowdown We their quarter, surpluses. we
QX These these about FY also of believe, affected We Datacom 'XX. QX equally. datacom revenues our a And $XXX will that million in million FY and telecom this the million in compared growth trajectory $XXX 'XX. temporary into were $XXX of telecom 'XX. $XXX million is in compared businesses to revenues markets interruption were to FY continue
rates. that increased believe of also our and network the growth and increasing market of including drivers mobile intact, We fundamental internet the devices are proliferation traffic, broadband data communications
expected datacom hyperscale and driven While in machine infrastructure, learning. by intelligence the be the artificial back come pullback by term it temporary and in investments for short affected the metaverse, the partially will to strongly, is of computing, deployments in including
trends we forming believe account than inflection In with that another intelligence learning, we a all fact, and in we at of half point datacom expect more are shipments these decade-long and artificial transceiver by for to megatrend XXXX. machine
position Despite strong. XXXG industry-leading remains the current our above reset, and in market very datacom
area meet and this operators. and of integration our leadership of scale volume aggressive the the ability lasers, high-speed to in Our world's from optics our transceiver to our leading derives center vertical ramps modules, electronics and data
we our 'XX. accelerating In XXXG XXXG addition to growth anticipation growth in our exponential in the shipments FY and are XXXG datacom beginning of of transceivers,
we Coherent transceivers telecom, a products continue these leader with grow resumes, to expect at annually. double-digit disaggregated and all the are growth we to In market of our percentages Once solutions. vertically-integrated
developing our in product their evolving in requirements are we platforms, on customers, a opportunities ahead. who invest to to in We multiple design and response address are focusing resources portfolio of activity and to intense new broad continue engaged new
the build-out first launch led continued hyperscalers, of network metro, transceiver applications. solution and These Coherent being submarine to XXXG are who network through transport the and our telecom stemmed portfolio their shifts also we With DSP increasingly edge technology map, in in opportunities existing by our from differentiated networks architecture. are disaggregation road paradigm and regional plan telecom driving for
be Investment expect in We Act $XX communications the for a from Jobs optical Infrastructure our the planned business. billion major access catalyst that and broadband will investment
Finally, revenues communications. as is increase new sequentially. our industrial, space the for In X% our down were satellite $XXX strong in a frontier, quarter in we are seeing products the differentiated for million, demand
cap XX% sales, Lasers inspection spike equipment at have grew the rest strong least both front-end lithography records outlook the sustained through However, and sales EUV we XX% annealing sequentially. our semiconductor which year-over-year wafer and saw of in includes and products a whose X% quarterly and set calendar grew a strength sequentially for semiconductor year.
Our due X in a outlook XX% leading in than utilization factory to by lowest based on lowered greater demand display customers their decrease demand, the years. lower
that This we sales our Korea. demand the quarter, Korea led spare market growth mobile first in see was parts display China, of sign clear service for though those sluggish giving to of business forecasted a big devices. of decrease in into even a surpassed a highlight China, In for time, some in our the
industry resolve will release headwinds demand the calendar We leaders. of expect move smartphones next-gen inventory-related short-term these towards consumer we from the QX and as
in North a we that the drive the calendar OLED record also into new for widely aftermarket China believe the with our into investments said announced In sales America. month recovery will year trend of business a in Such aligns 'XX. we March, an strong all-time X.X Gen fab laser in
design and our of delivery board, ag a set and ] to our [ in across we Instrumentation led laser-assisted sequentially through the to the solutions, this to continue in We world. as arm around beam was as applications battery high- factories wins experience market the records strong and million, procedures. of continue result X% immunology up for EV $XXX acceleration welding strength kilowatt lasers by fiber
customers to their of enable to We OBIS grow side can and in their several in times. light the lasers our believe Sales that products. our of XXX,XXXth imaging quality come ahead to It design strongest of our the our and market this optics revenue advanced increased engine and to addressable years combine to strategy cost. coherent, systems had new we the market. time where customers' and entire mini our time for wins the the illumination as we from neuroscience added our form of we accelerating pre-COVID expanding scientific well, for that is solutions, light well We source laser, our ultrafast systems we market, by engine to laser time shipped since laser-based quarter
of the end spectrum, supplier continues we led the revenues our and consumer were we telescope the prime the James the terrestrial XXth completion Webb as million, Meanwhile, XX-meter the mind-bending for for of imaging years. than telescope over other more shipped contributions, In meter-class XXX% with world's optical by several are next send sensing. our units At images, and go of the electronics, to up systems. XXX before space back $XXX electronics advanced to most Coherent's year-over-year, proud optic
in in VCSELs the long-term electronics is customer gives market than consumer intimacy broader for this much confidence in sensing. opportunity Our us just that XD
changes design to just believe expect next some the less XX% lower other emerging will in from take our LIDAR become XX that We of ubiquitous X% under as hardware effect. months, in revenue ultimately to well as applications. sensing However, and XX for revenues or annual metaverse and we as wearables
growing Our across are them strategic all. engagements
our it outlook caution, buying the that discuss patterns a today, reflects degree we around near Regarding customer will term. in of
with While along macro revenues in June was factors we quarter, seasonality strongest experiencing, II-VI will are result legacy the traditionally sequentially. lower
continue synergy and We stay cost will align we on realities. cost our control, generation, realization focused to to market cash while
position the up. We resumption product the and will company turns as enable work market timely to for our to portfolios of sustainability restructure and growth transform our
synergy driving greater access existing alignment efficiency, at to and structures. competitive increased enhance by focus lower further cost and sites, restructuring Our map and and affording and will road position flexibility product plans our scale
our the plans these grew moves effects With of more and carbide business, that analysis it our were priorities. period year-over-year. severe This a capacity showing us signs careful business continues both silicon rigorous our a investments platform constraints half on than to in carbide short- total of expansion a achieve our position of capital believe The equipment forming. XX% about market prolonged the assessment our these of respect people, one commitments. of top investment. long-term completed Therefore, silicon to to be will have is and of We again,
well gained will underserved years and be to for what we We share are believe in an positioned, market as steadily have come. we extremely many
demand culture, an years and a the to customers projected accelerating, our market what game leader require the investors announced and support incumbent, that needs. is also able be the emerges Even asked that relentless on are serve timely August and the that we believe will investment. and continuously a is require This company the by we now increasing investment even billion focus increasingly demand, to often with $X gap also will results the who been to part our We market supply and it in orientation we between who natural greater operational the gap for this a of close of excellence our will commitment by XX and so asked have over XXXX, is business. is end
market, at and simply joint We see serving is of strategic partnerships. to our same the review shareholders potential the a for deeper value course a venture, while the for long-term This minority end, growth, the staying either a maximizing accelerate Coherent investment our include of by review alternatives unique investment range have business the through execution continued further that considering or accelerated opportunity silicon business. focused sale, the we time our shareholder commenced To were alternatives. on These with plan. of effectively our carbide strategic
of We so portfolio, our Q&A this to further supplier to to in And modules. public our and carbide a capital, remain invest outcome technology and devices capacity a today, do we committed matter We assurances firmly become make no until employees disclose. intend including we'll the as this and following full-line we silicon shareholders, development our to continue give can and innovations, to power customers, as comment to expanding have session our not process. of any regarding material
Mary With Jane? over Jane. it turn that, I'll to Mary
