Ali HusainThanks, Maria. Good afternoon, everyone. It's a pleasure to be part of the team, and we appreciate you and everyone joining us for today's call. If listeners haven't yet seen our third quarter fiscal year 2012 press release or form 10-Q, both may be accessed through our website at investor.analog.com. This conference call is also accessible from the same page. A recording of this conference call will be available today within about 2 hours of this call's completion, it will remain available via telephone playback for a period of time and will also be archived on the IR website. In addition, we have updated the schedule on our IR website, which include the historical quarterly and annual summary P&L for continuing operations, as well as historical quarterly and annual information for revenue from continuing operations by end market and product type. Participating in the meeting on today's call are Jerry Fishman, President and CEO; Dave Zinsner, Vice President of Finance and CFO; Vincent Roche, Vice President of Worldwide Sales and Strategic Market Segments; and Maria Tagliaferro, Corporate Communications Director. During the first part of the call, Jerry and Dave will present our third quarter 2012 results as well as our short-term outlook. The remainder of the call will be devoted to answering questions from our analysts and investor participants. During today's call we may refer to non-GAAP financial measures that have been adjusted for certain nonrecurring items in order to provide investors with useful information regarding our results of operations and business trends. We have included reconciliations of these non-GAAP measures to their most directly comparable GAAP measures in today's earnings release, which is posted on the IR website. I ask you to please note that the information we're about to discuss includes forward-looking statements intended to qualify for the Safe Harbor from liability, established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include risks and uncertainties, and our actual results could differ materially from those we will be discussing. Factors that could contribute to such differences include, but are not limited to, those described in our SEC filings, including our most recent quarterly report on form 10-Q filed earlier today.
The forward-looking information that's provided on this call represents our outlook as of today, and we do not undertake any obligation to update the forward-looking statements made by us. Subsequent events and developments may cause our outlook to change. Therefore, this conference call will include time-sensitive information that may be accurate only as of the date of the live broadcast, which is August 21, 2012.And with that, I'll turn the call over to ADI's CEO for opening remarks. Jerald G. Fishman Well, good afternoon to everybody, and welcome to our third quarter 2012 conference call. As you can tell from our press release this afternoon, our revenues totaled about $683 million, which was up about 1% from the previous quarter and down about 10% from the same quarter last year, and was just very slightly below our plan for the quarter, but well within the range that we communicated in May. Diluted earnings per share of $0.56 was at the midpoint of our earlier guidance. The good news is that despite economic headwinds and increasing uncertainty in most regions of the world, our business in aggregate remains stable during the quarter. Our bellwether industrial business which now comprises 47% of our revenues, was approximately flat to last quarter, remaining stable after growing very strongly in our Q2. Our largest industrial customers indicate to us that while their earlier growth expectations for 2012 have modulated in the past few months, they currently see very little deterioration in their business to date, and they don't expect any significant downturn for the balance of the year. Now these customers, the large industrial customers, were for the most part are on plan for the quarter. Our distribution channel, which primarily serves the industrial market, was consistent throughout the quarter and was stable in July. In fact in July, we saw stronger bookings on ADI from our distributors, indicating that while they too remain cautious, they don't foresee any deterioration in their business in the near term. These trends are very significant for ADI given the importance of the industrial market to our revenues and to our profits.
Our communications infrastructure business grew 9% sequentially, driven by wireless customers that was in line with our expectations for new wireless base station deployments in the United States, in Asia and also in Japan. As I think you know, we're very well positioned with market-leading OEMs in Europe, in Asia and in the U.S. with a product portfolio that addresses both existing technology and also newer 4G deployments, which we will expect will increase ADI's content in those base stations.Read the rest of this transcript for free on seekingalpha.com