Transcript
Operator
Executives Ralph Quinsey - President and CEOSteve Buhaly - CFOAnalysts Steve Ferranti - Stephens Inc.Amit Kapur - Piper JaffrayMellisa- JPMorganOperator Good afternoon. My name isTheresa, and I will be your conference operator today. At this time, I wouldlike to welcome everyone to the TriQuint Semiconductor Third Quarter ResultsConference Call. All lines have been placed on mute to prevent any backgroundnoise. After the speakers' remarks, there will be a question-and-answer session(Operator Instructions) Thank you. Mr. Quinsey, you may begin your conference.Ralph Quinsey Thank you, Theresa, and welcome,everybody to the call. I have with me both Stephanie Welty and Steve Buhaly.I'd like to thank Stephanie for her many years of service, and introduce SteveBuhaly to our first earnings call, Steve?Steve Buhaly Thank you, Ralph, and goodafternoon, everyone, and welcome to our third quarter 2007 conference call. I'dlike to remind everyone that the intention of this call is to comply with RegFD, and to discuss things with all of our shareholders that might affectTriQuint's business in the future.To do this, we may makeforward-looking statements, such as statements about TriQuint's projectedrevenues, growth rates, gross margins, operating expenses, operating results,and earnings per share. These are statements that involve risks anduncertainties.The results could differ materiallybased on various factors, including TriQuint's performance, demand for itsproducts, ability to develop new products, improve yields, maintain productpricing, reduce costs and win customers, the results of its independentauditors quarterly review and annual audit, and the market conditions.In addition, historicalinformation should not be considered an indicator of future performance. Thispresentation includes non-GAAP financial measures, which exclude equitycompensation charges from our adoption of FASB statement Number 123R, andcharges for in-process research and development resulting from our acquisitionof Peak Devices.These non-GAAP measures areprovided to enhance the users' overall understanding of our core operatingperformance. A full reconciliation of these non-GAAP measures can be found inour…