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Mindspeed Technologies Management Discusses Q3 2012 Results - Earnings Call Transcript

Mindspeed Technologies (MSPD)

Q3 2012 Earnings Call

July 23, 2012 5:00 pm ET

Executives

Kevin D. Trosian - Vice President of Business Development and Investor Relations

Raouf Y. Halim - Chief Executive Officer and Director

Stephen N. Ananias - Chief Financial Officer, Principal Accounting Officer and Senior Vice President

Analysts

Quinn Bolton - Needham & Company, LLC, Research Division

Dale Pfau - Cantor Fitzgerald & Co., Research Division

Krishna Shankar - Roth Capital Partners, LLC, Research Division

Presentation

Operator

Welcome and thank you for joining the Mindspeed Technologies' Third Quarter Fiscal Year 2012 Conference Call. [Operator Instructions] This call is being recorded. If you have any objections, you may disconnect at this time.

I would now like to introduce Mr. Kevin Trosian, who will chair this afternoon's conference call. Go ahead, sir. You may begin.

Kevin D. Trosian

Thank you, and good afternoon to all of you who have joined us for today's call to discuss Mindspeed's fiscal third quarter of 2012 financial results. Our press release issued this afternoon detailing these results may be accessed in the Investors section of our website at www.mindspeed.com.

Today, our CEO, Raouf Halim, will provide some key milestones for the business, a discussion of our announced restructuring and the strategic focus of the company going forward. Following, Steve Ananias, our CFO, will review fiscal third quarter financial results and provide financial guidance for our fiscal fourth quarter of 2012.

Before we begin, I want to remind you that our comments today will include forward-looking statements within the meaning of Federal Securities laws. Forward-looking statements include, among others, statements regarding our expectations, goals or intentions including, but not limited to, our current assessment of the demand environment in our target markets; our assessment of growth opportunities in specific product markets; anticipated financial and operational impact of the restructuring that we announced today, including our ability and anticipated time frame to achieve profitability, revenue and margin targets required to achieve profitability and our current expectations for fiscal fourth quarter net product revenue, non-GAAP gross margin and non-GAAP operating expenses.

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