Adjusted operating margin was 25.1%, down 370 bps sequentially. The decrease was primarily due to higher expenses. Balance Sheet & Cash Flow At the end of the fiscal third quarter, cash and cash equivalents and short-term investments increased to $6.1 billion from $3.6 billion in the fiscal second quarter. Cash flow from operating activities was $932.8million, up from $642 billion in the fiscal second quarter. Capital expenditures were $75.5 million, down from $106 million in the fiscal second quarter. During the quarter, Lam Research paid dividends of $171.2 million. Guidance For fourth-quarter fiscal 2019, Lam Research projects revenues to be $2.35 billion (+/- $150 million). Gross margin is projected at around 45.5% (+/-1%) and operating margin is expected to be 26% (+/-1%). Non-GAAP earnings are projected at $3.40 (+/- 20 cents) per share on a share count of nearly 155 million.