The three pillars of our three year strategy as we presented last year are margin expansion, revenue growth, and cash utilization. In the margin expansion, we have done a tremendous job so far taking cost out of the operation. We have restructured the company to be profitable comfortably during the downturns of the cycle. We have now transitioned into the next phase of cost reduction as we go from reduction in operating expenses into reduction of the cost of goods. That will be in the next phase and we have visibility to do about $15 million to $20 million cost reduction that will come from that effort of cost of goods.We focus on revenue growth in both the years as we continue to both invest in R&D to develop the products in each of the markets we serve, but also expand geographically and increase the geographical areas we serve and I’ll talk about that in a minute. Our cash utilization, we effectively utilized the cash of the company as was demonstrated already by the share buyback we have completed, Danny will talk about that later, as well as investing in our self, invested in the company, in our growth and expansion globally.
Advanced Energy Industries' CEO Presents At Citi Technology Conference (Transcript)
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