Advanced Products Revenue Growth
Advanced Products revenue increased by 2.7% sequentially to $59.9 million, with Advanced Products' share of total revenue increasing to 63.7%.
Increase in Book-to-Bill Ratio and Backlog
The Q1 book-to-bill ratio was above 1, with one-year backlog increasing 10.4% from the prior quarter, closing at $171.7 million.
Cash Flow and Balance Sheet Strength
Operating cash flow totaled $20.1 million for the quarter, with cash and cash equivalents totaling $296.1 million at the end of Q1.
Growth in Export Revenue
Exports for the first quarter increased sequentially as a percentage of total revenue to approximately 60.8% from the prior quarter's 56.9%.
New Product Introductions and Market Opportunities
Announced availability of new high-density 48-volt DC to DC converter family and initiated sampling of new three-phase AC to DC power modules for aerospace market.