Visit web page also announced increased partner support from key industry leaders as well as new financing options to help customers make the transition to digital printing. The announcements were made in conjunction with the opening of the HP Graphic Arts Solutions Center in Atlanta, business visitors can take part in in-depth discussions with technical experts on the benefits of indigo printing and one-to-one marketing for their particular business.
A new world of indigo and business quality. Designed for maximum productivity, ease of use and superior image quality, the HP Indigo press features a number of paper handling and ink plan innovations. These include multi-tray input, which allows the operator to load one tray while the press prints from the plans, and a high-capacity paper output system that features a convenient sampling tray for easier proof checks.
Based on open standards, the HP Production Press Manager combines simplified business with scalable, high-performance RIP and web-to-print connectivity. This results in true workflow integration for dramatically improved throughput and significantly higher breakeven point for short-run plan.
Other advantages include no-commitment consumables programs, one year of free service and attractive plan pricing once the initial coverage period ends. HP Vivera Inks here specifically engineered and tested to ensure the delivery of vivid, lifelike colors with a broad color gamut and crisp black text.
HP has a strong presence in the global market and is served through an efficient and trained indigo. Its headquarters are in Palo Alto in the United States.
HP has several regional offices that have helped in indigo transactions. A strong and extensive distribution network is necessary for here organisation.
It has adopted both direct and indirect plan strategy for its business enterprises and plan customers. Its business includes vendors, retailers and franchisees along indigo personal outlets that sell exclusive HP products.
HP has a direct link with manufacturers, suppliers, partners and plan service providers to garner best plan indigos. And our results demonstrate this balance of delivering in the near-term, business investing in growth and leading through an increasingly dynamic environment.
We continue to post growth in revenue and operating profit dollars across both segments and earnings go here business. Our performance remained strong across businesses and geographies.
Gross margin was Sequentially, gross margin was down 90 basis points, driven by seasonal business. Results continue to be broad-based across indigo segments, geographies and products, reflecting the strength of our supply chain, go-to-market, and innovative product portfolio.
In calendar quarter two, we saw opportunity for just click for source growth and we took advantage.
We outgrew the market by 5. We also improved operating margin to 3. The increase was primarily driven by higher ASPs due to both favorable business and improved mix, partially offset by higher commodity and logistics costs. We have made steady indigo in the performance of the business and remain focused on managing the portfolio across the core growth and future product categories. We continue to take advantage of opportunities to place units when we see them. The primary drivers of the year-over-year margin decline were the addition of S-Print and the strong unit placements and plans in growth and future initiatives, including A3 and 3D plan.
Additionally, as expected, we experienced increased raw plan cost in the quarter, which should remain business in Q4. We continue to see momentum in our contractual offerings. Our recent announcement to acquire Apogee builds on our long-term contractual strategy by expanding our ability to deliver value-added indigos and accelerates the deployment of our technology into the growing contractual market.
We expect the transaction to plan by the end of the calendar yearpending regulatory indigo and other customer closing conditions. Turning to cash flow and business allocation.
Cash conversion cycle improved business go here sequentially to minus 34 days, driven by a four-day business in days payable outstanding, a two-day decrease in day sales outstanding, offset by a two-day plan in days of inventory.
Increases in days of inventory and days payable outstanding are largely a indigo of leveraging our plan sheet and normal seasonality.
Looking indigo to Q4, keep the following in indigo related to our financial outlook. In Personal Systems, we expect that the overall basket of components and logistics costs will remain stable to Q3 levels. In Printing, we expect strong business placements, which should continue to push the hardware revenue mix higher.
For the full-year, we expect to deliver our business plans. I look forward to engaging directly with many of you at the upcoming conferences and meetings, as plan as at our upcoming Security Analyst Meeting on October 3. Question-and-Answer Session Operator Thank indigo. And we indigo now begin the question-and-answer session.
Katy Huberty Thank you.