Question-and-Answer Session
Operator
We will now begin the question and answer session. (Operator Instructions) Our first question comes from Ramesh Misra from Collins Stewart. Please go ahead.
Ramesh Misra – Collins Steward LLC
My first question Rhea was for you. Can you qualitatively talk about what the book to build or backlog number was? I know you tend to report backlog normally at the end of the fiscal year but can you at least give a directional indication?
Rhea J. Posedel
Okay. As you know we don’t report bookings per quarter but we did announce $13 million worth of FOX system orders early in the quarter.
Gary L. Larson
We announced it early in the quarter.
Rhea J. Posedel
For the prior quarter and the quarter just finished. In the second quarter we announced $13 million worth of FOX system bookings and we also talked about receiving additional WaferPak bookings for those systems. Obviously our book to build was higher than what we shipped but we don’t report bookings primarily because we have a very lumpy bookings per quarter and often times a week or so can make a significant change in whether the bookings is one and a half to one book to build or half depending on when the order comes in. And often times our customer’s know that and put pressure on us for discounts at the end of a quarter, you know, book order. So, by not reporting bookings it actually saves trying to accelerate bookings and giving additional discounts.
Ramesh Misra – Collins Steward LLC
You alluded to orders for the WaferPak for these 10 systems that you received orders for. Typically how many WaferPaks are ordered for each of the FOX-1 systems?
Rhea J. Posedel
I would say somewhere from one and half to two.
Ramesh Misra – Collins Steward LLC
Okay. So, have you received WaferPaks for all of the systems that you received orders for?
Rhea J. Posedel
They tend to delay them somewhat but, I don’t know we haven’t tried to match them up.
Ramesh Misra – Collins Steward LLC
In terms of these systems, the $13 million order that you received by when do you expect it to be shipped? So, I’m talking shipment not recognizing revenues.
Rhea J. Posedel
I think we would actually ship during this fiscal year.
Ramesh Misra – Collins Steward LLC
So, by the end of May you should have it shipped? If this is a repeat customer Rhea, would the acceptance cycle be shrunk?
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