Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Rick Schafer from Oppenheimer.
Rick Schafer – Oppenheimer
Hey, guys, nice quarter. I've got a couple of questions for you. Start with cash flows and John was just hitting that. The number obviously looked a lot bigger than what I was looking for. Can you highlight what's driving what seems to be acceleration there? And is there a reason -- I mean, it seems like you are almost on track to do something closer to $100 million in cash flow this year.
Jim Peterson
Just to the short, it's bottom line results, right, inventory control and most certainly operational efficiencies. I don't know if we're going to be that high. I think John is reporting somewhere between $170 million and $180 million in cash, but while we're on this subject, let's just kind of do a quick review, because we did here. So I'm going to share with you.
Last year, free cash flow at Microsemi generated on or about $4 million. This quarter, we showed free cash flow on or about $30 million, and if you dial that into FY08, about $70 million to $80 million, I think that's one of the metrics that needs to be measured when the rubber meets the road in the day cash is king. I'll take the Pepsi test against anybody in that area for improvement.
Rick Schafer – Oppenheimer
Okay, fair enough. The next question just, can you highlight the progress or I guess you guys did talk a little bit about the progress you're making in the shift to Ireland, can you quantify what maybe your expected revenues are this year coming out of -- or going through Ireland and maybe what it means or what you are on track to do thinking about for '09?
Jim Peterson
There's good and questionable with Ireland. The good news is we moved to Ireland for operational efficiencies and manufacturing strategy. The fact is we see 20% better efficiencies manufacturing in Ireland, we find a tremendously stable and educated workforce, nationalized medicine, and last but not least, a nice 10% tax rate.
So, we entered shipping product over there and transitioning manufacturing, we dialed in the beginning of the year on or about $50 million to $60 million for this fiscal year; good news. We've seen tremendous amount of success. So what we're doing is we're accelerating that transfer of back-end manufacturing equipment over to Ireland and now we're raising expectations because of the success we've had.
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