Rubicon Technology, Inc. (RBCN)
J.P. Morgan LED General Lighting Symposium Call
August 30, 2012 9:45 am ET
William F. Weissman – Chief Financial Officer, Treasurer and Secretary
So the next session is Rubicon, we have CFO, Bill Weissman coming up. Bill, thanks for coming. We are taking a long here, so we can keep things moving, we are little behind than we started.
Bill, I wanted to talk about a couple of things that seem to be top of mind for most investors. First, in your last earnings call, you’ve indicated that the sapphire inventory levels at your customers, the polishers, and the LED wafer makers had kind of come back down to normal levels, but there were still some sapphire at the sapphire makers themselves. You would indicate that or you largely imagine thought this will come down for the rest of the year, and hopefully improve the pricing dynamics. So you were at good margin since your earnings call, so could you give us maybe an incremental update on where you think sapphire inventory levels have been, and what kind of evidence you’re seeing that they continues to come down.
William F. Weissman
Sure, you’re right. What we see in the marketplace is inventory levels have been normalized, everywhere except for the sapphire producers themselves. And we believe there is another core or two, lots of excess inventory in the system, there’s not a lot of great transparency in this market, but our data comes from our customers and our customers, customers who have relationships with our competitors.