During today's prepared remarks, we'll be making some forward-looking statements. In addition, management may make additional forward-looking statements in response to questions. In light of the Private Securities Litigation Reform Act, I would like to remind you that these statements must be considered in conjunction with the cautionary warnings that appear in our SEC filings. Investors are cautioned that all forward-looking statements in this call involve risks and uncertainty and that future events may differ from the statements made. For additional information, please refer to the company's Securities Exchange Commission filings, which are posted on our website or available from the company without charge.

With me today are John Daane, our CEO; and Ron Pasek, Chief Financial Officer. Ron will open the call with a few brief remarks before turning the call over to John. After John concludes his remarks, we will take your questions. Prior to the Q&A session, the operator will be giving instructions on how you can access the conference call with your questions.

I would now like to turn the call over to Ron.

Ronald J. Pasek

Thank you, Scott. In Q2, we returned to sequential quarterly growth following 3 quarters of customer inventory drawdown. There are a few observations I'd like to make in addition to the many pieces of good news embedded in this quarter's results. Both 28- and 40-nanometer did extremely well. On the back of the 166% 28-nanometer sequential growth, we now have cumulative revenue of $16.6 million at the 28-nanometer node. This result establishes Altera as the 28-nanometer market share leader. We see 28-nanometer revenue growing to over $20 million in Q3 '12.

40-nanometer also performed extremely well, increasing 42% sequentially. The 40-nanometer node at 28% of revenue was the single largest revenue node in Q2.

As anticipated, our lead time shortened in the quarter. As often happens when customer orders don't need to cover longer lead times, book-to-bill dropped slightly below 1 for the quarter. Having said this, we are off to a very strong start this quarter, and therefore don't think the book-to-bill ratio carries a great deal of meaning.

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