Question-and-Answer Session
Operator
Yes. Thank you, sir. (Operator Instructions) Our first question comes from Mr. Mike Harrison with First Analysis. Your line is open.
Mike Harrison - First Analysis
Hi. Good afternoon, everyone.
David Longfellow
Good afternoon, Mike.
Jim Kirsch
Hi, Mike.
Sallie Bailey
Hi.
Mike Harrison - First Analysis
In the electronic materials segment, as you look at the three makeup points of that segment being dielectrics, photovoltaic materials and CMP, can you talk about what you've been seeing in terms of demand for those three product areas in Q4? And maybe what your outlook is for 2008?
Jim Kirsch
Sure, Mike. Let me start at the bottom with CMP because CMP is really tiny. Let's talk more, if you will, about surface finishing because that's really our broader segment, polishing, okay? Because we're still quite small in CMP, specifically we continue to see growth and expansion in that particular business, albeit, more relatively small base. And photovoltaic or advance materials, we have continued to see robust demand. And our expectation as we go through 2008 is that we'll see double-digit growth in that particular area.
Dielectrics has been, was much stronger in the second half of '07 than it was in '08. Its return to what I would suggest would be more normalized levels, which is not unusual in the first quarter after the Christmas season and the Chinese New Year and so on. So, as I look at the year and we read about what to prognosticators are claiming, we expect to see single-digit growth in that particular market segment.
Mike Harrison - First Analysis
When you see double-digit growth in photovoltaic materials or advanced materials, are we talking in sort of the mid-teens range or are we talking 20% possibly?
Jim Kirsch
Well by definition of materials guys typically have a lesser growth rate, if you will, than the parts players or the solar panel people. So from a material standpoint we would expect to see something in the 12% to 14% growth rate which would be very similar to what 2007 showed.
Mike Harrison - First Analysis
All right. Great and then is there any way that you can give us some more detail on what your raw material purchases are in terms of your actual financial needs or volume needs for certain raw materials. It seems like every quarter there is sort of a different raw that is giving you guys trouble?
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