On another note, the management of Mattson Technology will be participating in the Stifel Nicolaus technology conference in San Francisco on February 11, and the Oppenheimer Semi-Conductor Summit in New York on February 17. We look forward to seeing many of you there, with that I would like to turn the call over Dave. Dave?Dave Dutton Good afternoon everyone. Thank you for joining our Q4 and fiscal year 2010 financial results conference call. I would like to provide you an outline for today’s call. First, I will give you an overview of the business. Then Andy will provide the financial results and last I will close with our good new outlook and guidance. During Q4, we experienced customer driven rescheduling in some DRAM related orders, which as we announced in the pre-earnings release on January 4, flattened our trend of double digit quarterly growth rates. Although this was disappointing, it is worth noting that without our new product positions in NAND and our strip systems strong foundry presence, we would have experienced a revenue decline rather than an increase. Despite this near term setback, we remain positive about Mattson Technology’s growth in 2011, and are confident that our new product positions will result in substantially improved financial performance for the company. As of today, 80% of the systems delayed into Q4 2010 have been rescheduled with firm shipment dates in Q1 2011. 2010 was a strategically successful year for Mattson Technology. Our revenue grew 225% over 2009, while the industry grew at approximately 100%. As we had targeted, our Etch products contributed to 30% of our total systems revenue. While we were able to maintain tight control of our operating expenditures, the strong growth we experienced caused a strain on our cash levels, as we had to make significant investments to deliver the new products, to meet our customers demands.
We set very aggressive goals in 2010, and met a majority of them, particularly in the new product penetration area. In 2010, we secured 10 new application positions at six different companies in the foundry NAND and packaging markets. Our first priority in 2010 was new product expansion, with an accompanying focus of financial execution.Looking back, we hit a homerun for the new product division, but left runners on base for the financial execution. For 2011, financial performance is our top priority as we seek to leverage the hard fought and won new product positions. We have further streamlined our operating expenditures and will continue to drive gains in our product margins. We expect to see results accelerate as the year unfolds. The positions we have gained will drive the company to outperform the market as the next wave of Greenfield projects proceed. Our estimates show that for a new Greenfield project starting in 2011, we have an (inaudible) market several times greater than we had for projects we started a few short years ago. Now let me explain this impact in a review of our business lines. First, Etch will deliver purely incremental gains as we move forward. Last year we expanded Etch into the NAND and (inaudible) segments from our initial position in the DRAM market. In 2010, we entered the year with the paradigmE solidly established in the DRAM market and successfully expanded its presence into NAND and (logifab refabs) for multiple advanced Etch applications. We shipped the paradigmE to major DRAM and NAND fabs where this leading edge system is currently in volume production. The alpine etcher was established for volume production for advanced packaging applications. In Q4 we shipped Etchers for production into a new Etch application set that further increases our Etch served available market by approximately 500 million and more importantly, doubles our Etch application portfolio. This move is part of our long term vision to aggressively expand into the Etch market. In 2010, Etch revenue increased six times over 2009 as we expanded into the NAND, foundry, and packaging markets. Read the rest of this transcript for free on seekingalpha.com