fourth Thank everyone quarter to Laura. our welcome to you, like XXXX call. We'd conference
$X.XX. experience. Our expectations, below our And headwinds a of gross did results were meet and XX% customers of for both our consolidated the are semiconductor for EPS the challenging revenues fourth margins of GAAP reflection we net clear quarter guidance while to continue
semiconductor business. the quarter million Consolidated declined of revenues weakness continued to sequentially for production, were test portion $XX.X due in analog net the our
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As in volatility the market. goal inherent past, the the in ultimate we to semi noted Multi business grow have offset to is our Market
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important and well beginning $XX.X turn quarter. the QX in Thermal which as to revenue, two semi Multi net as now consists important Solutions Thermal $XX or third were is test responsible to businesses, that revenue revenues million is Let’s Market our front-end It manufacturing. compared ITS operating two to and all with segments Thermal, inTEST Ambrell. of Thermal for from note back-end million
the with Multi $X.X $X.X reflecting to decline was contributing the the million in Market flat market. major revenues the semi bookings aforementioned the Thermal third of order in impact quarter-over-quarter, the factor Thermal were timing. With essentially compared million, quarter,
broad is continues a geographical interest which and Market our in Thermal technical our drive Multi penetration. There to products
rise personal For an and placed integrator electric example, the tool during industry order be an expand in during quarter, we The for to to healthcare cell induction continued to vehicle continue the EV the being market continues induction their to an opportunities a EV fourth win orders heating production capacity, quarter manufacturer. production heating as manufacturers delivered strong.
the QX, received heating for our quarter. – important our were tools orders for products personal significant the placements continued of induction order Recall, from and fourth healthcare in packaging in
branch for create testing devices applications, and of we the specialized semiconductor for that testing our new extreme with thermal our customer a Thermostreams, that and range device rapid applications Market in using across Multi air the exemplified to Thermostreams the treating medical cardiac temperatures, systems continue for electronic forcing out different of is new arrest. Thermostreams wide testing for into by as environments
continues In Defense Thermonics Chillers. addition for and be applications products test to both and Aerospace Sigma Market driven by business Multi
as for who QX. industry. our this three heels use to the new business our extraction for cannabis In on new we secured fact, chiller products follows we chemical This customers of expanding quarter customers added two in grow continues the
signal are internet and test. things, major Turning consumer the electronics, heavy the business products. and analog roots the as well semiconductor applications drivers segment, product The products industrial mix to production EMS whose of company as XG-related automotive, of the serve is which of EMS
$X revenues $X.X were million, particularly QX, EMS automotive indicated to for business some the industrial for compared semiconductor compared unit. has challenging, the the and also QX was fourth and that million QX $X.X quarter. true bookings with signal million were prior by remain conditions $X.X million reports in mix Recent this analog in for while EMS our quarter in
to cap most or equipments. new next-gen EMS that and Like different lesser equipment for equipment extent, combinations processes expanding of capacity, order require manufacturers, reasons; two customers manufacturing testing a existing
the super XXXX business semi cycle peak The of dramatically super capacity increased XXXX. EMS the throughout the XX% industry from cycle, at to increased over
significantly excess our expect which EMS customers, resulted to course at has in absorbed. market in conditions appreciable considerable excess have reduced an of business current capacity. been that capacity see demand rebound until However, does not
would rates XX% to and XXXX we have range low before significant We approach the been see analyses continue pickup know today. capacity has Utilization recent EMS in the from a throughout studying that really industry business.
utilization year-over-year, a aligns Industry of reported seeing. which we are what rates X% were XX%, XXXX analysts with recently equipment drop semi
In handler respectively. addition, and recently XX% it XX% was declines, noted that and similar manufacturers prober year-over-year experienced
note, XX% translate approach range semi an in X% year. surprising a to to predicted the utilization XX% second then positive rates the revenue rates can of utilization for recently in have XXXX. that the not half EMS down On been drop It’s
numbers. comments for Let detailed then hand a off to and of Hugh me close operating here with couple
from disappointing trends in order missed and guidance As I release, QX our noted just press a QX flow, stems our described. the
in EMS short-term is drive products EMS at cloudy, increased for are of products year. utilization from and we While that increase demand demand our half the visibility the will somewhat capacity optimistic customers second
an analog test crystal thermal across for specifically applications We remain confident including seeing demand the carbide business production industry and of in we as many semi, major and silicon long-term the driver Defense, are A increases. EMS deposition. opportunity Aerospace related growth is uptick our
year their customers Recent for level communications and of businesses in us. confidence with with subsequently our businesses a top respective their the indicated
in with good they of all this them year. standing and told fully are continue from that have to been us ordering intend We
us. in placed expected the In to an orders see majority increase be fact with
two and share. we EMS, market The tone with orders and do considerable not very place, customers the in losing of We quite capacity certain excess is that for sparse. our distinctions timing important with similar have EMS Thermal less was are with customers believe conversation been
our EMS. strong remain customers to fact, and committed In
believe orders. We on reinforce arises Sales excess KL demand is their the new question strong trigger Manager. knowledge capacity already have we the in of leverage announced Asia’s Wong appointment and to a is will of a we the it extensive relationships KL absorbed, and As recently that customers pull region. EMS Southeast experience we brings as when
which meet M&A component front, an we assess our potential is strategy, to and criteria. On growth continue of our important acquisition opportunities that evaluate investment the
the strategies company a the growth requiring benefit persistence we of we to choose aligned to and will with strategic shareholders our vision position and we for and anything long-term be expansion pursue Ultimately, our updates. optimally and inTEST execute our provide needs process plan and patience as future, it’s and
while closing, we considerable long-term uncertainty, there still In confident in feel end-market is diversification strategy. our
in multiple technologies to to markets be a supplier from base of demand our testament roots and value our expand the for growth to base the core customer semiconductor to continue We our our strategically to broad and continues products. grow,
I’d precision-engineered, in We believe We over capabilities like Hugh. industry rebound excel the and are participate strive to turn call thermal, positioned semiconductor to mechanical that, deliver to with with to our solutions. we electronic to the and
