"Many industry analysts are now predicting improving semiconductor industry conditions by the second half of next year. Until existing excess semiconductor production capacity is absorbed, however, industry conditions will continue to present substantial challenges in particular for our handler product line, which is driven substantially by growth in unit production of semiconductors. Accordingly in these times it is critical that we identify and take advantage of niche growth opportunities for our handler product line. Our reliability product line, driven more by advances in semiconductor design and processing technologies, continues to perform well even in this flat to declining semiconductor environment, and we continue to explore opportunities to maximize shareholder value through this product line.
"Our board believes that deep experience and expertise in the semiconductor and semiconductor equipment industries is imperative to enable the company to successfully navigate these difficult times and to be able to nimbly and quickly identify and take advantage of opportunities these times offer," Mr. Levesque concluded. "This shareholder group has no experience in our industry or the industry we serve and no plan of action. Accordingly, the board has determined that it would be imprudent to accede to the demands of this shareholder group to be given control of the company, and the board will oppose the actions proposed by this group for the upcoming special shareholders meeting."
Certain matters in this news release are forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, adverse domestic or global economic conditions, slowing growth in the demand for semiconductor devices, the volatility and cyclicality of the microelectronics industry, changes in the rates of capital expenditures by semiconductor manufacturers, progress of product development programs, unanticipated costs associated with the integration or restructuring of operations, and other risk factors set forth in the Company's SEC filings, including its Form 10-K for the year ended December 31, 2011 and its Form 10-Q for the quarter ended June 30, 2012.