On another note, the management of Mattson Technology will be participating in 2 investor conferences over the next few weeks. On Thursday of this week, October 27, Dave and Mike will be participating in the Houlihan Lokey Conference in New York, and then Mike will be participating in day one of the TechAmerica AeA conference in November 7 in San Diego. In addition, we will be participating in the Needham & Company Growth Conference scheduled to take January 10 through 12 in New York. We look forward to seeing you at the conferences. And with that, I'll turn the call over to Dave. Dave?David L. Dutton Thank you, Laura, and good afternoon, everyone. Thank you, for joining our Third Quarter 2011 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 Mike will provide the financial results, and last, I will close with our business outlook and guidance. Before I begin, I'd like to officially welcome Mike Dodson, who you'll hear from shortly. Mike brings with him a great track record and strong industry experience. Mike is a welcome addition to our team, and as you can all imagine, has been extremely busy since joining just a mere 2 weeks ago. As we have progressed through the current quarter, we have seen the level of economic uncertainty increased around the sovereign debt crisis in Europe, U.S. economy with stagnant unemployment, and tepid consumer demand. These uncertainties are having an effect on the overall demand of electronics and are keeping our customers cautious. Near-term, we are seeing increased volatility in our forecast, as our customers adjust their plans on a monthly basis to react to the changing financial conditions. The shift to mobility products such as tablets, smartphones, plus emerging-market growth is helping to drive IC demand in the NAND and some advanced foundry areas, while the soft economy is muting a PC and corporate refresh, and keeping DRAM demand in line with existing capacity. Overall, this results in demand that is technology-based in anticipation of capacity increases.
Now let's turn to our results. The third quarter was an extremely productive quarter for Mattson Technology, while we ended our 9 consecutive quarters of industry growth, the softer revenue was offset by a strong increase in gross margin which was above our guidance range and resulted in lower loss per share. These results are all indicative of the strength of our business brought about by our new product portfolio and highlighted by continued new wins in the quarter. Through the first 3 quarters of 2011, our revenue was $143 million, more than 48% higher than the same period of 2010. And when the year is finished, we expect to be about 25% higher than in 2010. Our cash position continues to be healthy at over $38 million.Despite the industry weakness, we continued to achieve important milestones in our product positioning as announced during the quarter. We continue to book and ship significant number of Etch tools, further extending into new applications as we announced our move into the silicon Etch with the introduction of our new paradigmE silicon. Our Suprema strip product had wins at the 30-nanometer and below in both foundry and memory market, meaning we will participate in advanced volume production facilities in the future. And recently, we announced a significant RTP win in the foundry arena, securing our first-ever position in the current generation foundry with our Helios XP. Now, let me give some specific updates on our product portfolios, starting with our Etch products, which continue to deliver at the very leading edge. We started the third quarter by announcing our move into silicon Etch with the introduction of the paradigmE silicon. The new system's capability to perform the expanded polysilicon Etch application increased our available serve market by over $500 million. Etch now addresses over half the applications in the total Etch market. Moving forward, we expect Etch to contribute an even greater portion of total revenue as more customers select our Etch tools based on their excellent process performance and superior cost of ownership. We will update you on Etch's continued momentum and new position wins as the year comes to a close. Read the rest of this transcript for free on seekingalpha.com