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Our actual results may differ materially from these forward-looking statements. Applied Micro assumes no obligation to update forward-looking statements made on this call. I want to point out that Applied Micro has several analysts that cover the stock and this creates a range of variability relative to the Street financial models. When we say Street estimates, we mean the consensus of the major analyst models and not necessarily the guidance that was given by the company.With that I’m going to turn the call over to Paramesh. Paramesh? Paramesh Gopi Thanks Bob, and good afternoon everyone. During the June quarter we saw our total revenues increase sequentially by approximately 6%, and product revenues, excluding our licensing revenues, increased sequentially by approximately 7%. Our opening backlog for the September quarter, meaning orders for delivery in the September quarter, increased sequentially by approximately 17%. We are entering the September quarter with more than 100% of our revenue guidance already in backlog at the start of the quarter and more than half of the December quarter already on the books. I want to make the comment here that our new products, those introduced since FY08, contributed about 15% of the June quarter revenues and this is expected to grow to over 20% in September and is expected to be over 25% in the December quarter. This clearly demonstrates excellent traction on our newer products. Total book to bill was 1.3x and reflects robust bookings for both the September and December quarters. Bookings and billing strength was widespread and we showed strength in both processor and transport product families across all geographies and channels. It is important to note that both the processor and transport businesses had book to bill ratios in excess of 1.3 for the second straight quarter. Processor bookings had the longest lead time, approximately 24 to 26 weeks, so these will begin flowing more strongly as supply conditions improve.
I am extremely pleased to note that we have surpassed our guidance and have executed very well in all parts of our business and particularly in growth and profitability as well as the introduction of breakthrough technology and products that fuel our future growth. In fact, we announced three key products this past quarter.The APM821xx, a high performance, energy-efficient device targeted at multifunction storage applications and media servers. The APM801xx, a family of energy-efficient embedded processors providing the industry’s smallest form factor Power Architecture-based product. The APM801xx product family enables a broad range of devices, spanning gateways, control panels, and appliances for the smart grid. Finally, the APM9689x, our Triveni product family, the industry’s smallest dual and quad port, low power, 101,000 10GBASE-T PHY technology. Triveni is the first 10GBASE-T PHY to cancel interference due to walkie-talkies, cell phones, and other wireless devices to solve a critical technology challenge for robust, high-speed Ethernet connections for the data center. I will talk more about this exciting product later in my comments. Let me now turn to some of the details of the business, starting with transport. Please note that our transport business encompasses two vertical markets, telco and data com. Let’s start with a brief review of our telco business. I’d like to begin by describing the end markets and their dynamics. While the worldwide carrier transition to OTN is well underway, we see a distinct acceleration of pace in the Americas and Asia Pacific fueled by both legacy upgrades and greenfield deployments. It is important to note that the EU carrier network evolution lags the Americas and A-Pac. Platform-wise we see two distinct classes of platforms replacing legacy systems: intelligent packet-aware optical switches, and true multi-service super routers. The most common interfaces used in both these classes of platforms today are 10 Gbps and 40 Gbps. The most significant difference in these equipment classes versus legacy is that their overall capacity, and most importantly their support of large port count Metro-class interfaces. Read the rest of this transcript for free on seekingalpha.com