At the end of the third quarter of calendar 2012, cash and cash equivalents totaled $479.2 million and the company had $298.1 million of total debt. This compares to $332.4 million of cash and cash equivalents at the end of the second quarter of calendar 2012 which included $145 million of total debt and $483.8 million of cash and cash equivalents at the end of the third quarter of calendar 2011 which included $90.9 million of total debt.As of September 29, 2012, the company’s backlog was $1.5 billion. This included approximately $617.7 million in the polysilicon segment, $141.4 million in the PV segment and $717.6 million in the sapphire segment. Included in the total backlog was approximately $93.2 million of deferred revenue. New orders for the third quarter of calendar 2012 were $49.2 million and included $11.1 million of polysilicon orders, $5.2 million of PV orders and $33.0 million of sapphire orders. The company had $56.3 million of negative adjustments to backlog primarily related to the termination of a polysilicon contract with a startup Chinese company which GT had previously indicated was at risk due to the customer’s failure to perform. Management Commentary “We are pleased that we remained profitable and achieved the upper end of our EPS guidance in Q3 in spite of the softer demand environment in our core markets, demonstrating the resilience of our business model,” said Tom Gutierrez, president and chief executive officer. “In the face of economic and trade related challenges impacting GT and its customers, we have taken significant steps to lower our cost structure and to improve our ability to make strategic investments in R&D, next-generation technology and diversification initiatives that we believe will drive future growth and the creation of shareholder value. “It remains our strategy to invest through these challenging times and we are positioned to do so with our healthy balance sheet which includes nearly $480 million of cash and cash equivalents,” said Gutierrez.