With that, I'd like to walk you through the details of the quarter. As I sit here today, there are a lot of variables, which are changing every day as we manage through the COVID-19 crisis. --Sanmina Corporation, a leading integrated manufacturing solutions company, today reported financial results for the second quarter fiscal 2020 … We manage the logistics for them, but the limited -- limited the right financial impact for Sanmina, but delays and timing of delivery of components can impact revenues and the efficiency at the manufacturing plants. I think the way I would think about it is, you know we had guided gross margins in kind of the mid-sevens range for the outlook. So far we've had very few cases than it has been manageable. The firm has nearly 80 manufacturing sites, and is one of the world’s largest independent manufacturers of printed circuit boards and backplanes. San Jose, CA 95134 Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Apologies, I was on mute. Paige Melching -- Senior Vice President, Marketing and Investor Communications. If you could please turn to Slide 3. And so that's very much the feedback we are hearing from them. If you now please turn to Slide 5 and I will discuss our two segments. Cash equivalents were approximately $1.1 billion at the end of the quarter. And we reset our shock to the system is different, but can also create opportunities. For example, as related to regionalization, we've always been organized along those lines. This response speed was very much appreciated by our customers. I think you're guiding flat from end market demand standpoint, except for automotive for the next quarter. This is the same management team that worked 2008, with a difference that today we have a much stronger balance sheet. Again this was primarily due to the impact of COVID-19 as we previously discussed. Good question. [Operator Instructions] And at this time, I'm showing that we have no other questions in the queue. Thank you, Ian. And I also think again as I mentioned in my earlier remarks, there are some restrictions in certain geographies in terms of what we're able to do to reduce costs, but certainly under absorption is a key thing. Number one, we need logistics channels to bring parts into our centers and to ship to end customers. Number two, we need a functioning supply base, we may have 99 parts, but without number 100, which might be a golden screw, you cannot fulfill the order. I mean, obviously, it starts with volume and volumes last quarter were down relative to the prior quarter and down relative to expectations. All rights reserved. Financial figures. Sanmina Investor Relations at 408.964.3610 About Sanmina Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Second quarter revenue of $1.6 billion, was down 13.6% sequentially and 9.1% lower than the midpoint of our original outlook provided in January. For the year to date, we've repurchased 2.7 million shares for a total of $70 million. On the supply side dynamic issues, can you quantify the difference between or call out any parts that have caused disruption or is it really kind of travel logistics to get them? We are always in close contact with our customers and probably even more to a different levels of our organization even more these days with our customers. Freight prices have gone up. We started off the quarter strong and on track to meet our original outlook. Inventory was up approximately $40 million and inventory turns declined to 6.9, this was due to the manufacturing inefficiencies and disruptions in the supply chain caused by COVID-19. For example in cities with stay-at-home orders, we quickly documented to local authorities the essential nature of our work, within days we could restart manufacturing for many of our customers. Towards the end of the quarter, given the uncertainty related to COVID-19, we decided to draw down and $650 million of our $700 million revolver. And I think overall, kind of the overall secular industry trend, which is partner network consolidation, fewer partners, and more closer to end markets more regionalization, those trends are firmly intact. And that's why we would call this space right now stable and supporting kind of our guidance right now. [Operator Instructions] Please be advised that today's call is being recorded. InvestorRelations @ kitron.com +47 948 40 850; Cathrin Nylander CFO. Ruplu Bhattacharya -- Bank of America -- Analyst. And also from me a warm welcome to our second quarter earnings call. And my last question, you guys expressed some customer optimism in optical, kind of given bandwidth issues globally. ... radio frequency and optical components and modules, and memory modules. Investor Events. MATT GUGINO Vice President Investor Relations. Investor Relations. Our balance sheet remains very strong. Other factors that could cause our results to differ from our outlook include adverse changes to the key markets we target, significant uncertainties that can cause our future sales and net income to be variable, reliance on a small number of customers for a substantial portion of our sales, risks arising from our international operations, any other factors set forth in the company's annual and quarterly reports filed with the Securities and Exchange Commission. Financial calendar. There is obviously long term optimism for 5G, but even our communications end market is working through the same supply chain, employee, logistic challenges here and that's exactly the reason why characterized even the communications market as stable supporting our guidance. And next, please refer to Slide number 13, where I want to share with you my observations about our end markets. Our next question is from line of Christian Schwab from Craig-Hallum Capital. It's very much the profile that we described of how we had to work through here at Sanmina. Q2 non-GAAP other expenses were approximately $13.5 million, this was up approximately $9.3 million relative to the prior quarter. We first saw this as our employees in China were delayed in returning from Chinese New Year. So where do we go from here and what do I see happening in the near future, as I kind of look around the corner. 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