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Mattson Technology's CEO Discusses Q3 2011 Results - Earnings Call Transcript

On another note, the management of Mattson Technology will be participating in 2 investor conferences over the next few weeks. On Thursday of this week, October 27, Dave and Mike will be participating in the Houlihan Lokey Conference in New York, and then Mike will be participating in day one of the TechAmerica AeA conference in November 7 in San Diego. In addition, we will be participating in the Needham & Company Growth Conference scheduled to take January 10 through 12 in New York. We look forward to seeing you at the conferences. And with that, I'll turn the call over to Dave. Dave?

David L. Dutton

Thank you, Laura, and good afternoon, everyone. Thank you, for joining our Third Quarter 2011 Financial Results Conference Call. I would like to provide you an outline for today's call. First, I will give you an overview of the business, then Mike will provide the financial results, and last, I will close with our business outlook and guidance. Before I begin, I'd like to officially welcome Mike Dodson, who you'll hear from shortly. Mike brings with him a great track record and strong industry experience. Mike is a welcome addition to our team, and as you can all imagine, has been extremely busy since joining just a mere 2 weeks ago.

As we have progressed through the current quarter, we have seen the level of economic uncertainty increased around the sovereign debt crisis in Europe, U.S. economy with stagnant unemployment, and tepid consumer demand. These uncertainties are having an effect on the overall demand of electronics and are keeping our customers cautious. Near-term, we are seeing increased volatility in our forecast, as our customers adjust their plans on a monthly basis to react to the changing financial conditions. The shift to mobility products such as tablets, smartphones, plus emerging-market growth is helping to drive IC demand in the NAND and some advanced foundry areas, while the soft economy is muting a PC and corporate refresh, and keeping DRAM demand in line with existing capacity. Overall, this results in demand that is technology-based in anticipation of capacity increases.

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