Question-and-Answer Session
Operator
Thank you. (Operator Instructions). We will take your first question from John Harmon with Needham & Company.
John Harmon - Needham & Company
Hi. Good afternoon. Couple of questions, please. John, I was wondering if you could just tell us about the sub components of your microelectronics business; just maybe tell us which two or three are largest or rank some of them, if you could please?
John Ambroseo
You want me to rank the sub markets within microelectronics?
John Harmon - Needham & Company
Yeah, tell us what's top, two or three are the largest, just that we can put in perspective?
John Ambroseo
The market is actually reasonably balanced John, between semi-cap applications, advanced packaging applications, and historically, the flat panel market. That mix obviously shifted in the last quarter, with advanced packaging, probably making the biggest gain and flat panel giving way as new system orders were lagging, as I mentioned during the commentary. The recovery in the flat panel market, as I mentioned, is still on the horizon, and we expect that to occur as this capacity issued right itself. We also firmly believe – again, as I am referring to my commentary, that our future systems have to be capable of doing either LTPS or AM/OLED, as customers are seeking to balance our capacity in the future.
John Harmon - Needham & Company
Okay. Thank you. That helped. I recall that a couple of quarters ago, I think, your customer for your excimer lasers and panel manufacturing was holding-off orders in anticipation of a new product platform. Sorry if I missed it, but did that happen? Is that customer order again?
John Ambroseo
Well, as I mentioned, the market itself is pretty much on hold right now, new systems order have been lagging for a few quarters, so even though there are new technologies available from us that is not driving an increase in bookings within the flat panel market right now, it’s a very challenging space for the reasons I alluded to during my commentary.
John Harmon - Needham & Company
Okay. Thank you.
John Ambroseo
Sure.
Operator
(Operator Instructions). And now we will hear from Jiwon Lee with Sidoti & Company.
Jiwon Lee - Sidoti & Company
Good afternoon.
John Ambroseo
Hi, Jiwon.
Jiwon Lee - Sidoti & Company
Hi, John. When you guided the first quarter of '08, what type of end market, or the product assumptions, did you sort of, kind of, build in, especially, if you can sort of a focus on the materials processing, or the microelectronics?
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