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Our agenda for today’s call will begin with Paul Read reviewing the financial highlights from the second quarter of fiscal 2012 and Mike McNamara will follow-up with the discussion of the current business environment and developments and trends within our individual business groups, and he will also conclude with our guidance for the third quarter of fiscal 2012 ending in December. Following that, we will take your questions.Please turn to slide two, for a review of our 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 through 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 the earnings press release and the GAAP versus non-GAAP reconciliation in our Investor 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 $8.04 billion in revenue for our fiscal 2012 second quarter, which was above the high-end of our guidance range of $7.6 billion to $8.0 billion. Revenue rose to $622 million or $0.08 from the $7.42 billion we reported last year and 7% sequentially.
Our second quarter adjusted operating income was $176 million, down 17% year-over-year and GAAP operating income was a $161 million for the second quarter, down 19% versus our prior year. Adjusted net income for the second quarter was a $158 million, down 12% from the year-ago and GAAP net income for the second quarter was $130 million, down 10% year-over-year.We reported adjusted earnings per diluted share for the September quarter of $0.22, which was within our adjusted EPS guidance of $0.21 to $0.23 and up 5% sequentially. Our GAAP EPS for the second quarter was $0.18, which was up 6% sequentially. Our diluted weighted average shares outstanding or WASO for the quarter was 731 million. This was a reduction of 7% or 53 million shares in flow compared with 784 million shares reported a year-ago, which was driven by our share buyback program. During the quarter we started our fourth $200 million share buyback program since June of last year and we repurchased approximately 19 million shares for a $106 million at an average cost of $5.51. Overall since our recent share repurchase began back in June of last year, we have repurchased $706 million with our stocks totaling approximately 114 million shares or roughly 14% of our outstanding shares prior to the commencement of these programs. Please turn to slide four. September quarterly revenue expanded both sequentially and year-over-year. We experienced revenue growth on a sequential and year-over-year basis in all segments. Our Industrial and Emerging Industries, barring [ph] our Industrial and Emerging Industries, which Mike will expand on further in his prepared remarks. Adjusted operating income totaled $176 million and adjusted operating margin was 2.2%. This was negatively impacted by losses equating to approximately 50 basis points in our ODM PC business that were expected. And we are in the process of exiting. It was also significantly impacted by the large reduction in revenues experienced in our Industrial and Emerging Industries segment, which was primarily isolated into the capital equipment business in this segment. Recall that this segment carries greater than the corporate average adjusted operating margins and therefore had a 20 basis points negative effect on margin in the quarter versus expectations.
During the quarter, also incurred certain one-time restructuring cost to right size certain facilities, which had an approximately 15 basis points negative effect on our adjusted operating margin was versus expectations. These three elements together create an overall negative on our adjusted operating margin of 85 basis points.Read the rest of this transcript for free on seekingalpha.com