The momentum and interest for our current solution is very high. This recent win serves to highlight our incumbent position and technical leadership in this emerging silicon photonics and co-packaged optics market. In addition to machine learning and network infrastructures, the AI trend will continue demanding higher complexity and higher volume production of devices on the edge such as cameras, sensing, connectivity, and logic-based applications, which are deployed in power efficient mobile, IoT and other client-facing applications. These applications will continue to leverage proven and cost-effective assembly approaches such as system-in-package applications in which Ball and Wedge Bonding play a dominant role, as well as emerging opportunities for standing wire applications used in both connectivity shielding and power-efficient stacked DRAM.
Over the coming years, Ball, Wedge and Thermocompression are positioned very well to directly support these three AI trends. More complex assembly requirements are increasing the value of our market leading Ball, Wedge and dedicated Advanced Packaging portfolio. Despite the gradual industry recovery, customer interest for qualification and evaluation remains very strong. In addition to AI, we continue to make progress on our advanced display opportunities supporting advanced backlighting and future direct-emissive displays. As mini and micro LED wafer production costs improve and die size continues to shrink, end market use cases will grow and the efficiency and capabilities of assembly will also increase. Our dedicated, high-throughput, high-accuracy LUMINEX system is well positioned to support this upcoming market need.
Additionally, we continue to execute on Project W, and expect to provide additional visibility into Project W’s outlook over the coming quarters. Finally, the integration of our new dispense business continues to proceed very well with key engagements across our extensive customer network. Market feedback on these new solutions from multiple-leading customers has been very promising. Our micro dispense solutions are extremely efficient, capable and accurate which adds significant value for critical applications supporting advanced display, battery, medical and sensing trends. The market opportunities for dispense are broad and I will provide more specifics on our targeted applications and evaluations over the coming quarters. Looking into fiscal 2024, we continue to anticipate above-average semiconductor unit growth and also anticipate taking share in new markets.
We have very strong customer interest and momentum across our emerging portfolio, have already seen clear cyclical improvements in our core market and look forward to releasing a steady pace of new systems, new features and also announcing new customer and technology wins over the coming quarters. With that said, I will now turn the call over to Lester who will discuss our financial performance and outlook. Lester?
Lester Wong: Thank you, Fusen. My remarks today will refer to GAAP results, unless noted. While the business environment remains challenging for the entire industry, it remains a very exciting time for the Company with clear signs of improvement within our core market and ongoing progress within our emerging opportunities supporting long-term technology transitions which address AI, battery assembly, dispense and advanced display. During the September quarter, we generated $202.3 million of revenue, 47.4% gross margin and $0.51 of non-GAAP EPS. Gross margins came in slightly softer than expectations, largely due to product mix. Non-GAAP operating expenses came in just below $70 million, in line with our prior expectations. Finally, tax came in slightly better than expectations due to favorable jurisdictional mix and discrete items.
We continue to target the long-term 20% effective tax rate, although anticipate coming in slightly above this level in December. Turning to the balance sheet, working capital days decreased from 465 to 448 days in the September quarter, primarily due to the sequential revenue improvement. Our repurchase program remains opportunistic, and we have increased our repurchase activity sequentially to $9.2 million during the September quarter. As Fusen mentioned, we have also increased our dividend payout, maintaining a very competitive dividend yield. This growing and consistent dividend commitment highlights the confidence in our long-term outlook. Combined with the ongoing reduction in share count due to our opportunistic repurchase program, our dividend program provides additional long-term value to shareholders.
Looking ahead to the December quarter, we anticipate revenue of approximately $170 million, plus or minus $10 million with gross margins of 47%. Non-GAAP operating expenses are anticipated to increase slightly to $71 million, plus or minus 2%. We remain focused on controlling and limiting non-critical activities, although continue to ramp headcount to support our growing set of customer engagements. Non-GAAP net income for the December quarter is expected to be approximately $14.2 million dollars with non-GAAP earnings per diluted share of approximately $0.25. In closing, we are uniquely positioned to capitalize on the growing value of semiconductor and display assembly. Our market access is steadily expanding, and we are positioned well to support and enable major long-term technology trends for the industry.
As our core business gradually improves and increases in the complexity, we remain focused on expanding our access to positive long-term advanced packaging, advanced display, automotive, and dispense needs. We look forward to sharing our progress over the coming quarters. This concludes our prepared comments. Operator, please open the call for questions.
Operator: [Operator Instructions]Our first questions come from the line of Krish Sankar with TD Cowen.
