Earnings Call Excerpt
Applied Micro Circuits Corporation
F1Q09 Earnings Call
July 30, 2008 5:00 pm ET
Executives
Robert G. Gargus – Senior Vice President & Chief Financial Officer
Kambiz Y. Hooshmand – President & Chief Executive Officer
Analysts
James Schneider, Ph.D. – Goldman Sachs
Allan Mishan – Oppenheimer & Co.
Sandy Harrison – Signal Hill Group LLC
Christian Schwab – Craig-Hallum Capital
Sanjay Devgan – Morgan Stanley
[Brian San – Bainbridge Capital]
Presentation
Operator
Welcome to the Applied Micro Circuits first quarter 2009 earnings results conference. (Operator Instructions) Now, for opening remarks and introductions I would like to turn the conference over to Bob Gargus, Chief Financial Officer.
Robert G. Gargus
On the call today with me is Kambiz Hooshmand, our President and CEO. Before turning the call over to Kambiz, I want to remind you that the forward-looking statements discussed on this call, including guidance that we will provide on revenue, non-GAAP gross margin, non-GAAP operating expenses and certain other financial targets are based on the limited information available to us today. That information is likely to change. There are numerous risks and uncertainties that affect our business and may affect these forward-looking statements, including product demand and mix, product development and introductions, design wins, manufacturing, the impact of workforce reductions and the integration of new or moved operations, risks relating to macroeconomic conditions, markets and other risks that are set forth in our SEC filings, including our Form 10K for the year ended March 31, 2008.
Our actual results may differ materially from these forward-looking statements and AMCC assumes no obligation to update forward-looking statements made on this call. I want to point out that AMCC has several analysts that cover the stock and this creates a range of variability relative to the Street financial models. When we say Street estimates, we mean the consensus of the major analysts’ models and not necessarily the guidance that was given by the company.
With that, I’m going to turn the call over to Kambiz.
Kambiz Y. Hooshmand
Shortly, I’ll give you our vision and perspective of the business fundamentals and then Bob will discuss the financials in detail. Today, I am pleased to share with you two strategically important additions to our senior leadership team. We announced the appointment of Dr. Paramesh Gopi as our Senior Vice President and Chief Operating Officer. Paramesh joins us from Marvell Technology where he was Vice President and General Manager of the embedded and emerging business unit. While at Marvell he built a multi $100 million revenue stream in consumer, wireless and embedded applications. He was also primarily responsible for Marvell’s vertical market strategy. At AMCC Paramesh will focus on market strategy, product strategy, product development and business development. I will focus on company stakeholders including investors, customers and employees. My top priorities will be company vision, corporate strategy and AMCC’s worldwide growth and positioning.
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