I also want to take a quick opportunity to announce that Spansion will host its 2012 Analyst Day on November 14 in New York.This will be an excellent opportunity for investors and analysts to meet a few more members of our management team, gain insight into our short-term and long-term strategic plans and learn about our future products. We will send out a save the date notification in August. Before we move on, please note the Safe Harbor statement on Slide 2 of today's materials. During the course of this meeting, we may make forward-looking statements regarding future events or the financial performance of the company. Such statements are based on assumptions as of the current date, and you're cautioned that these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements. We urge you to review in detail the risks and uncertainties discussed in our Securities and Exchange Commission filings, including our annual report on Form 10-K for the fiscal year 2011 and the Form 10-Q for the first quarter of 2012. The company disclaims any duty to update forward-looking statements. Our agenda for the call today is as follows: John will discuss key highlights from the quarter, then Randy will review the quarter from a financial perspective and provide the forward-looking guidance. Our Q&A session will then follow. An audio replay of this call will be available for 1 month by accessing the Investor Relations page at spansion.com or by dialing (888) 286-8010 and using the passcode 53393500. Now, I would like to introduce John Kispert, CEO of Spansion. John H. Kispert Thank you, Ajay. Good afternoon, and welcome to our Second Quarter 2012 Earnings Conference Call. We had a strong second quarter. All major financial metrics were in line or ahead of our guided ranges and we believe we executed well in what continues to be a challenging environment. This is all due to our focused execution, the strength of our new solutions and deep customer relationships. And as a result, we extended our leadership position in the embedded market. With our product expansions, strategic partnerships and continued focus on growth areas in the embedded markets, we are well-positioned for the future.
My comments today will be organized as follows: First, I will recap our financial results, then I'll update you on what we are seeing in the market and on the latest developments across our various businesses. And finally, I will review our design win progress.Randy will then give you the second quarter financial details and the outlook for the third quarter. After which, we'll field your questions. So for the fourth quarter, we achieved revenues of $233 million, non-GAAP gross margins were 35.5%, non-GAAP operating income was $25 million, adjusted net income was $13.7 million and adjusted diluted EPS was $0.22 a share. Randy will go into more detail on the financials shortly. But at a high-level, we executed well and I'm pleased with the financial results in Q2. The go forward macro outlook is mixed but we remain focused on what is in our control. We are seeing momentum building with our new products and see continued growth for the company due to increasing market share and continuously increasing design wins. All regions and new product families had growth quarter-on-quarter. As you look at Slide 4 in our earnings presentation, this is the slide where we breakdown our revenue by segment and geography. I want you to know that we've modified the way we look at and report on our end markets in order to better track against the platforms and segments that we serve. The categories moving forward are as follows: First, consumer, where there's no change in how we define the segment; second, transportation and industrial. Here we simply renamed automotive to transportation. Recognizing that with our new products, we are reaching more platforms in the Transportation segments, including aviation, for example; and industrial, remains a key segment with a broad range of digital industrial devices coming to market; and then finally, communications and gaming. This end market group, which includes gaming now, as well as communications and computing, combines all the platforms that rely on our high endurance, high density and high quality performance, all designed to handle the interactivity and the infrastructure for supporting rich content access across multiple platforms. Read the rest of this transcript for free on seekingalpha.com