Finally, cash flow from operations was $273 million in Q4. We were active in returning value to stockholders, repurchasing 1.35 million shares in the quarter for $67 million and of course, paying our regular quarterly dividend. Also, as we announced on July 10, our Board of Directors has authorized an increase in the level of the company's quarterly dividend of $0.40 per share. This is the fourth increase in the quarterly dividend level since it was first instituted in 2005 and reflects our confidence in the long-term outlook for the company.
KLA-Tencor's strong performance in Q4 and for fiscal year 2012 showcases the company's market technology and business model leadership in an industry CapEx environment, driven by mobility market growth and featuring high levels of investment and leading-edge foundry and logic. Against this industry backdrop, KLA-Tencor is successfully executing our long-term strategic objectives and delivering industry-leading performance in terms of growth, profitability and stockholder returns.
Of course, the major factor in our success continues to be strong collaboration with customers and business partners and the great execution of our worldwide workforce. And I'd like to take this opportunity to thank each of our employees for their contributions in helping KLA-Tencor excel in this environment and in shaping our future success.
Now for some additional perspective on the near-term demand picture. As we noted at SEMICON West, the industry demand outlook for the rest of calendar year 2012 has backed off recently due to a combination of weaker memory forecast and some softening in near-term foundry demand. As a result, industry observers are now expecting full-year industry CapEx to be down in the range of 10% to 15% in 2012. However, looking past this current pause, we believe the factors which are helping sustain the high levels of CapEx investment seen in this cycle remain in play. With mobility markets fueling growth for the market leaders in memory, foundry and logic and in an increasingly more complex leading-edge technology and manufacturing environment.Read the rest of this transcript for free on seekingalpha.com