Total revenue for Q2 was up 31% year-over-year to $5.9 billion.
Gross profit increased 20% or $55 million compared to the prior year to $329 million.
Gross margin was 5.6%, down from 6.1% in the prior year, primarily due to product mix.
Total adjusted SG&A expense was $159 million or 2.7% of revenue, down $14 million compared to the year-ago quarter, primarily due to COVID-related expenses in the prior year.
Non-GAAP operating income was $170 million, improved by $68 million or 67% versus the prior year and non-GAAP operating margin was 2.9%, up 62 basis points year-over-year.
Q2 interest expense and finance charges were approximately $23 million and the effective tax rate was 25%, both in line with our expectation.
Total non-GAAP income from continuing operations was $109 million, up $44 million and improved by 68% over the prior year.
And non-GAAP diluted earnings per share from continuing operations was $2.09, up from $1.26 in the prior year.
We ended the quarter with cash and cash equivalents of $1.7 billion and debt of $1.6 billion.
Accounts receivable totaled $2.5 billion, down 12% year-over-year and inventories totaled $2.7 billion, flat from the prior year.
Our cash conversion cycle for the second quarter was 26 days, 17 days improved from last year.
Cash generated from operations was approximately $280 million in the quarter.
And including our cash and credit facilities, we had approximately $3.1 billion of available liquidity.
We are pleased to report that our Board of Directors have approved a quarterly cash dividend of $0.20 per common share for the current quarter.
Since our announcement in March, we have established the capital structure for the planned merger through a new $5 billion credit facility and are on track with the debt financing for the merger.
Revenue is expected to be in the range of $4.95 billion to $5.45 billion.
Non-GAAP net income is expected to be in the range of $99.9 million to $110.4 million.
And non-GAAP diluted earnings per share is expected to be in the range of $1.90 to $2.10 per diluted share based on weighted average shares outstanding of approximately 51.9 million.
Our Q3 non-GAAP net income and non-GAAP diluted earnings per share guidance exclude the after-tax cost of $7 million or $0.13 per share related to the amortization of intangibles and $5.3 million or $0.10 per share related to share-based compensation.

Summary:
Total revenue for Q2 was up 31% year-over-year to $5.9 billion.
And non-GAAP diluted earnings per share from continuing operations was $2.09, up from $1.26 in the prior year.
Revenue is expected to be in the range of $4.95 billion to $5.45 billion.
And non-GAAP diluted earnings per share is expected to be in the range of $1.90 to $2.10 per diluted share based on weighted average shares outstanding of approximately 51.9 million.