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Entegris' CEO Discusses Q4 2011 Results - Earnings Call Transcript

Similarly, we have strong sales of advanced CapEx-driven products, which is our family of new 300 mm FOSB, which is designed to provide the industry's most comprehensive protection against contamination within the wafer handling environment at 32 nanometers and below. In fact, 70% of the FOSB we sold in the fourth quarter were models that are less than 1 year old. In contrast, sales of FOSB handling components used to outfit fab infrastructure were soft during the quarter.

Looking at our business by market. Fourth quarter trends were also not uniform. Our semiconductor-related sales representing 73% of total declined to 3% from the third quarter. In our markets outside SEMI, sales declined 10% reflecting the slowdown of the TFT/LCD and LED markets as well as lower daily storage shipment due to the flooding in Thailand. Nonetheless, we were encouraged by progress in some emerging markets such as Solar, where our sales doubled in 2011 and hit record levels during the year, in which the Solar industry was confronted by huge overcapacity and substantial price decline.

As we move into 2012, we have several reasons to be encouraged. The exit of 2011 laid picked up in demand that has sustained itself thus far into the first quarter. Our strategic initiatives are enabling us to become increasingly aligned with the technology roadmaps of the largest and most influential players in the industry. This is allowing us to penetrate opportunities at the 28 nanometer and below semiconductor process nodes as well as for EUV and for 450 mm. The opportunities are both near and long-term. We are not content with simply maintaining our edge in these markets. We intend to extend our technological and market leadership. We're making major investments with the leader in 450 mm wafer handling as that technology is adopted over the next several years. We'd also intend to invest in our core membrane technology, our coatings technologies, to continue to create differentiated, high-value, unit-driven products for the most advanced and demanding semiconductor applications.

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