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Our agenda for today’s call will begin with Paul Read reviewing the financial results of our first quarter of fiscal 2012 and Mike McNamara will follow-up with the discussion of our current business trends, and he will also conclude with our guidance for the second quarter of fiscal 2012 ending in September. Following that, we will take your questions.Please turn to slide two, for review of the risks and non-GAAP disclosures. This presentation contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, which may cause actual results to differ materially from those set forth in this presentation. Such information is subject to change, and we undertake no duty or obligation to revise, update, or inform you of any changes to forward-looking statements. For a discussion of the risks and uncertainties, you should review our filings with the Securities and Exchange Commission, specifically our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and any amendments thereto. This presentation references both GAAP and non-GAAP financial measures. Please refer to the schedules to our earnings press release and the GAAP versus non-GAAP reconciliation in the Investors section of our website, which contain the reconciliation of the adjusted financial measures to the most directly comparable GAAP measures. I will now turn the call over to our Chief Financial Officer, Paul Read. Paul? Paul Read Thank you, Kevin. And welcome, everyone to our call. Please turn to slide three. We generated $7.55 billion in revenue for our fiscal 2012 first quarter, which is at the high-end of our guidance range of $7.1 billion to $7.6 billion. Revenue rose $982 million or 15% from a $6.57 billion we reported last year, and 10% sequentially.
Our first quarter adjusted operating income was $197 million, up 4% year-over-year. And our GAAP operating income was $184 million for the first quarter, up 5% versus our prior year. Adjusted net income for the first quarter $157 million, up 2% from the year ago levels. And our GAAP net income for the first quarter was $132 million, up 12% year-over-year.Reported adjusted earnings per diluted share for the June quarter was $0.21, which was within our EPS guidance range of $0.20 to $0.23 and up 11% from the $0.19 we had last year. Our GAAP EPS for the first quarter of $0.17, 21% above the year ago GAAP EPS of $0.14. Our diluted weighted average shares outstanding or WASO for the quarter was 760 million, this was a reduction of 8% or 64 million shares in flow compared with $824 million shares reported year ago. This reduction was driven by our share buyback program. During the quarter we completed our third $200 million share buyback program as we repurchased approximately 29 million shares for $200 million. Overall since our recent buybacks began in June of last year, we repurchased $600 million within our stocks totalling 94 million shares or 11% of our diluted weighted average outstanding shares. The average cost of our recent buyback today the rate has been at $6.36. In today’s press release, we announced that our Board of Directors have given authorization for new $200 million share purchase. In addition, tomorrow, our annual general meetings will take place in which we are seeking shareholder authorization for our buyback of up to 10% of our diluted shares. Next quarter, we estimate our WASO to be approximately 750 million due to the timing of one shares we repurchased during the last quarter. Please turn to slide 4, June quarter revenue grew double-digits both sequentially and year-over-year marked our second highest June quarter revenue on record. We expect our sequential and year-over-year revenue growth to continue to gain next quarter.
Our adjusted operating income totaled $197 million and was 4% above the $189 million we reported last quarter and also 4% above the $190 million we achieved a year ago. So operating margin of 2.6% was negatively impacted by the losses equating to approximately 50 basis points in our PC ODM business that we are in the process of endingOperating margin of 2.6% was down from 2.8% last quarter and 2.9% in the prior year quarter. Our core EMS businesses are performing well and it reached further PC ODM business we have entered in, pro forma operating margin was 3.1%. Our EBITDA was $295 million in the June quarter, up 2% from the prior year June quarter. As a result of our strong sequential sales increase which was heavily driven by our loss generated personal computing business. Our EBITDA margins suffered in the quarter declining 50 basis points to 2.9% from 4.4% last quarter. Our OCM EBITDA expanded to $1.25 billion from $1.1 billion a year ago. Read the rest of this transcript for free on seekingalpha.com