ICHR - Earnings call transcript Q2 2021

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Operator

Good day ladies and gentlemen, and welcome to Ichor's Second Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to introduce your host for today's conference, Claire McAdams, Investor Relations for Ichor. ahead. go Please

Claire McAdams

Good second Melissa. thank for you Thank XXXX afternoon conference today's quarter call. joining you, and

include As you on These a those actual cause are both to read materially listen risks our results statements of the earnings subsequent earnings press and the release which These statements. release, laws. risks conference XXXX, within meaning our uncertainties forward-looking please and for federal filings out statements many securities control described to subject and and call, recognize of forward-looking beyond that could SEC. to in our year press spelled from differ those our Form contain are in in such the described of fiscal with and those number this Annual XX-K as you uncertainties, Report

consider other and You of statements risks and forward-looking should light in those all uncertainties.

call. this Additionally, financial measures we during providing non-GAAP will certain conference be

IR Our earnings provide financial and supplement of the a comparable financial press to release non-GAAP measures most to website measures. reconciliation GAAP their each these financial our posted

now second over additional are and provide Jeff? remarks, I'll call details line the results will an Andreson, business me Andreson. a prepared our update today our Larry, quarter begin Sparks, Jeff Jeff call then, Jeff the On Larry on our of quarter turn After CEO; the with third questions. for of the review and our outlook. our CFO. to And guidance. with and results we open will and will

Jeff Andreson

so continued grew financial your healthy Ichor, million. I you and revenue reported QX Call. that hope QX $XXX all and far. families X% strong to and another we having and to for our record are Claire, Revenues you, Today, quarter a performance. over welcome safe summer Thank of Earnings

that continues maximized direct an issued revenue. Malaysian environment limited were slightly demand June revenues order in did the was to output mandates our labor, affected to operation the of XX%, to impact employees from mid-point our movement we it allowed guidance control while our early of strengthen, work as the on the number by below While and have

report We increase more points, same from first XXX gross a quarter, basis pleased period are than very improvement points and XX the to last the to of compared year. basis margin

$X.XX a in are quarters earnings on in at couple our profitability for the first for for margin This half, half operating our three which generation schedule in in net XX-month QX a the of and represents our We strongest planned revenues, result, period is compared also to first We trailing model as their been of revenues. share ahead XXXX. XX operating evident in earnings generated reported The $XX history earnings with per highest the in a company’s per and leverage and cash million were $X.XX years. QX on levels in equal increase last improvements has our in the the XX% of of months free growth X% share flow XX% of to growth.

being semiconductor have into forecasts. of demand supply place manufacturers visibility their and increasing device put ongoing, ever heightened be to for XXXX, underlying levels to or unprecedented at continues continue is fabrication foreseeable these through way the half demand The robust which multi-year major] support constraints provided investments, very equipment pervasive Now levels to are WFE [most the future. and into wafer expected for

upticks customers demand date our in each environment our among XXXX increased XXXX our expectations since to of As witnessed with earnings guidance result, The and XX%, evident and in strengthening last demand compared units. WFE call each business excess growth in and have our expectations and to key of year. again last a QX is for QX of of across results with

sequential of the quarter we revenue to $XXX capacity revenue supply year, order million. Last and QX is mid-point. revenue achieve quarter quarterly of we. across guidance chain are plans are this will Ichor on to unabated add talked or excess deliver in Companies incremental steady we range our capacity sequential to X% $XXX the and growth environment. so working run to continued enable at in in increase rates million in about to Each the improvements in are Our an that to achieving million the CapEx $XXX order growth output demand increase

which quarterly about six us remains growth provides visibility with our continues carrying Our with to provided forecast and good the QX continued both and so, sequential momentum for along outlook strong QX the months very extend XXXX. customers with to or by confidence into

continues for this three per which and addition each PCs the on solid the for increased lithography, growth well The believe storage to of to cell node], to to [each layers of intensity. and in to growth as within enterprise DRAM, invest levels bit grow business technology NAND, key self as convergence XXX of ever are: is such critical to plays vehicles, supply much to memory an products we phones. to layers and semiconductor the outperform operating in increasing in that is continue go continue take see We role. of the to the multiple state industry Together, with new as multiple higher from turn At our markets drivers At to as both with the X-beta overall semiconductor elastic cash markets the cycle and layer will our more for delivery that a markets. technology XXX will and propelled have declined, leverage of and growth. continue of flows. storage to support capacity. industry XG, second outpacing WFE. in performance demand and environment multi-year of is node, And – we strategies drivers EUV a I'll cost intensity by AI, incremental just sufficiency. IoT, capital our and year Ichor these the them XZ healthy industry, recent are high investment devices more XY from begin striving the Similarly, as of and deliver focus extremely subsystems nodes fab which in gigabyte computing XXXX demand are etch the into leading increased growth and each in I'll of with with key generation We drivers. technology autonomous for of initiatives strong and support XX this and the fluid deposition, nodes, due some deposition deposition, there all in to and etch provider now need domestic the X-alpha etch, resulting in more to strategic In there been beyond. all these market, strongest industry capital a turn

towards we etch this and node. Additionally, more and control require become the In by X-alpha In drives are delivery. are progression these at increased complex the selectivity, will fluid etch as we for better seeing precise utilization geometries EUV each precise X and tools logic, of manufacturers material nodes more geometries, X rates, seeing of faster more case, more this the need nanometer nanometer the beginning of is and as advanced each largest that these capital the complex, in the deposition, nodes, to Ichor an types drives more transitions processes. three all these of takeaway technology driving which of fluid it is and of delivery our requiring all is In intensity for as and EUV, particular, systems. of technology use increased all across control key markets. increasing opportunity total, three device as well The more increasing relates key are

progress expansion on made drive update our made on We as last delivery our market, of shipped that our leverage next you team the longer-term engineering generation develop our proprietary well program. strategy we I’ll first as that as our this operating developed gas generation Now, on to result update, progress initial well part share serve our has we fully will solution, as and panel of our Since components portfolio customer. our new recently beta in next IP configured profitability. of the have other good increased capabilities model levels the gas with products towards as have the to very of to

qualification begin in forward qualify. to program, This it milestone keeping an our look least the our you apprised months at process exciting soon, to but is to we fully expect and six progress. take will We of

a customers business, two to North expect to system chemical ship in beta a second system other beta work delivery in remain we late and to delivery with customer continue quarter. the American to track chemical We our In our deliver on third QX.

first qualification this year We an evaluation to unit Also, in expect third customer our importance period that extend scale first of The opportunity did market. in this will is a Japanese penetrating to occurring with small, regional qualification quarter. through begin step first ship XXXX. relatively the this we the but in revenues

address And in completed been beginning at precision of with the of significant to do the to quote the demand we in highlighted amount customer continue We gas continues our scale. panel remains a of business, continue and of the very focus job to both and we impacts quarter accretive. while for experienced first larger increase will summary, good qualifications expect to revenues other we quarter. be we call quarter the two last that content opportunities revenues the In third machining Ichor. record In we have qualifications and on proprietary business small delivered margin on in delayed will the our our OEMs large, and revenue fourth on to ramping opportunity COVID, the will see by Japan. are team are quarter’s These another a

mentioned year-over-year XX% versus anticipate our revenue quarter months earlier, quarter of year. I sequential QX least of as to growth third above And Our growth we for last for of QX. at and six and for have QX XX% expectation another guidance indicates visibility continued strong growth

And to expect levels. margin to of of gross due pleased We also of reductions for have delivered remain combination similar cost plan favorable at and to mix. we QX second half are in the a ahead margins product year, the improvements

on revenue us to and the financial Larry's which solid our performance So, discussion leverage we'll see half, outlook. earnings details forecast Larry? for the on further growth brings of our second

Larry Sparks

Jeff. Thanks,

and expense, non-recurring items remind adjustments. as in non-GAAP SG&A and I metrics operating call. base. like to very These would exclude assets, you such line results, impact summarizing section compensation charges, of the measure R&D investors unless share-based conference reference is of acquired for our First, discrete identify of There GAAP intangible website as this non-GAAP non-GAAP including helpful measures the for P&L today tax the financial the items discussed individual during expenses a and GAAP that and the amortization schedule measures are our

job quarter our from and our new sequential XX% a up a million, responding from Business during and to which quarter QX XXXX. in team $XXX strengthen X% and quarter operating customer an operations continuing Second conditions ninth of were record challenging environment, to record demand of revenues achieved QX up did the revenue continue excellent revenue straight growth. a includes strong We delivered impacts COVID-XX. quarter from

for in margin to ensuring margin, our than costs COVID in higher safety We basis the also and net by well continue up about higher margin, of freight costs the mostly gross points related from increases are related margin COVID at QX basis on Gross achieved up workforce. quarter income. XX.X%, XX and basis XX came sequential costs, XXX impact impacts points. XXXX. as to health gross global margins as points QX operating gross and from forecast of better

the improvements these impacts gross are future, drive margin. we While for persist our to continue expected to foreseeable to

gross key products. increasing cost our our content share margin incremental to strategies higher higher margins IP are of our businesses components programs, reduction proprietary within drive our growing and through Our within

earlier gross cost some planned reflected margin favorable the product combined than programs impacts QX reduction Our mix. performance of with of

over expected, million. points debt were of XXX outstanding down the QX and over quarter expense was QX of overall rate margin basis lower As as for effective improved and XXXX. Operating XXX interest QX from an million, Interest QX points expenses a result $X.X operating balance. $XX XX.X%, basis of

and at over expected per rate high-end the less years gross range forecast, rate was high-end to of guidance in of of earnings a to of of the couple next the XX% $X.XX and our date, the to tax just XX% revenues the little were of range. margin range. year that Our near With under XXXX share is be expected above with be the mid-point to planned than XX%

by spend with over quarter increase Now, sheet. million, I cash of balance cash million to of the turn in from will from investments $XXX CapEx $X ended the declined XX $XX turns were outstanding million quarter. QX and inventory free $XX million a last Total We operations, million. consistent We $X of and with $X last sales after of of an generated flow of million, quarters the days as cash X.X. days couple debt to is were $XXX million. relatively

in turn third will guidance share of to similar reflects QX. to With quarter of guidance. I per as our the million, million Now, our gross $X.XX to $XXX revenue range $XXX earnings guidance $X.XX margins

expense becoming our the operating forecast which associated SOX associated compliant, expenses and $XX.X new audit ERP higher level fees additional related to system, costs the QX development support spending to Our with incremental million, product and reflects is and R&D programs. new the

a for of modeling this XX-week reminder, a QX have quarter year. As in we purposes, will

We million. expect $X.X our in QX interest will expense be around

XX% approximately to and to XX.X be million. again Our fully be rate approximately tax count our share diluted

years the strong to X% of forecasts and CapEx mentioned, of revenues Jeff open Please stepping questions. as take XXXX. the around Operator, be we couple we this up are for line. expect support Finally, capacity to to ready the next demand for investments year are

Operator

comes Ellis of Instructions] [Operator the Our you. Thank B. first Please with with from your Riley. proceed question line Craig question.

Craig Ellis

little taking and progress profitability. to for supply broadly. and understand try point finer comments things just a question, overall congratulations things more put go on margin a gross I to on on and Jeff, wanted back Thanks and the the and guys bit

So, business what that quarter in from was some hearing quantify just things constraint by competitors either supply impacted can – the Malaysia? any the that impact was in customers things that can broadly company issue potentially of we're beyond to issues companies, speaking more the one, supply Malaysian the indirectly you our the two, are just And identified? the from you saw given the issues, larger but are the that

Jeff Andreson

operation bigger had of us single than I'd on in know, probably we on you we've other hard we put to but Craig, It's a Yeah, constraints, is number say supply full out. had kind could millions say a some run it would exact quarter, know, high Malaysia I an of, what probably this Malaysia have if digits out managed. for you impact which got in, the

we know, supply so And others, pockets weeks we're but our suppliers, impact rejigger don't manage you, so you a kind of seeing little it other lose customers’ closely our, pretty needs. honestly, on with effect to, some working of took those and to constraints customers some you we're those time. things of a try that bit and have our as best that us few Like and obviously

I we a be so, to specific. done as without probably clear too pockets think that. a think good as pretty And I can there that's quarter. of make this job, through through being but we've through. have are few still of I that it most We'll Hopefully, that And work

Craig Ellis

looking of it then Yeah, see I over to that's helpful. we're margin, nice Thanks, the earlier, trends mentioned And gross next like sounds like couple the at Jeff. flattish quarters.

happening then the it on some So, margin staying strategic And you through offsets? that you there's the a issues and line, seems some talking were talk or of introductions XXXX some just of that headwinds Jeff, model about whether next with are dynamics, the things we guidance, year, to what's for way for not a look to begin positive to think some reasonable Ichor? new looking there or of out tailwinds about could product of the whether as guys as if could other items, there's like number mix have takes gross gives margin the but benefit

Jeff Andreson

margin and the let of I'll answer some gross circle question. of back stuff, Larry the half your second to I'll then

Larry Sparks

basis business, heavier what of is reductions that other than through mix basis little half say We some around was progress execute incremental components product about our half we our a talked to the And point before. at points. as this and which XX of P&L, XX, we're of seeing is we've our a come happy in were improvement quarter last, which the were earlier able know, I'd for that we're you about think, mix, about the the shooting cost quarter-over-quarter. I talked a XX with planned. – was

things you there. I out quarter third look one, at got know, strong beyond, business you've you think significantly when in a and the play: few

to bit the headwind It know, of we the we'll but there, improve you eye mix of have have like looks QX, that. cost an on to a the, continue other products, on little to keep we'll So, gas our side. a

that that to think, line you expect And some XXXX. these I Jeff, continue components. the longer-term, more we expect then then continued of to, overcome know, if cost products So, gains that? IP know, as share And in want look add Jeff content you some impact. we at into the reduction trend and talked them, about, know, to and going the you you of programs, with definitely you we have with we'll

Jeff Andreson

I the out. Yeah, mean, know, you obviously, new absolute to I'm to, start and impact as not going winds roll guide these

take million in lot carry so moves we've lines these components of differential, can that know, We of pretty precision you low-XXs XX and a of it but new early just needle say, in see know, or machining the know, you've that been You that, in and nicely, you so having our some is what said you investing always higher you got can wins. that we're if area in kind they're, very wins, and and along margins. those

a to through little We as we And progress this the about the excited those, we'll qualifications. we're then we really specificity year, but get made on more the impacts through give have get quarter. around you the

Craig Ellis

guys. much, Excellent. Good Thanks luck. very

Jeff Andreson

Thank you.

Operator

you. Thank

Ho Stifel. your question a comes proceed Please with next Patrick Our with line from question.

Patrick Ho

your of newest Thank nice Jeff, the first-off, on for and about you you some of very maybe just products. quarter on up commentary following some outlook. congrats and the qualifications much, made

to but acceleration at seen and entire in devices, ecosystem the current pickup And hasten qualifications? next new they to look industry the their You the moving demand is any get law is visibility, take I'm to that know, accelerate, trying out the of products? customers now, clearly the terms is adoption there have out of generation seeing out know, to the figure given demand speed time, qualification your of you any some the on are right of environment your could is, the seen trying you what these you extended and I kind Because know qualifications have [tool], as tools? you on new side can

Jeff Andreson

be qualify. marginal would for we're to what in think flows or it’d what to most of Remember I it's and doing, beyond accelerating gas I – that they're they get do chemical. say a example, have through,

has to helpful. period. it do So, think is, I said we've think step that to And forward. this go for a there Having is is long qualification there through your point that pretty demand more. I a taken that, a

we could we So, we're gas we'll phase, by the and since acceleration, do we time just first first getting see our feel how versus for now fully the through better this what normally. but think next just would configured everybody's we then fast some shipped have a call, panel, moving

Patrick Ho

that's quicker CapEx, into it, about know, been out maybe that’s you know, for with can actually margin question my as the we longer-term on, for at up new startup we – be this are as look demand guys profile, head the be the that'll with you company? XXXX a XXXX, you again, visibility for Larry, is feel but usual, the as costs than and to that this CapEx typically you of environment, follow go you you added seeing, of there extended add margin as increasing strong on you and add demand do future absorbed as boost, gross And customers, capacity well for we're the that as helpful. Great, associated as talked your necessary capacity

Larry Sparks

is the you think is thing components bulk the for this investment first capacity in you in of is the I know, the machining know, as business. area, higher which and Patrick, that, us, margin

to in as elevated you margin look able comes us. I even think to CapEx though parts healthy accretive we're online know, we've So, very a and kind think environment, when this precision investment, I that'll at, be you our ship machine very, more of

is we're where confident you we're that, money needed. So, know, putting very the

We some making is those on side. than but component have side, on the integration basis investments made and absolute in dollar what we're less the an machining

Jeff Andreson

integration of some the model, us going the of up, will we our the don't as pull are kind and Yeah, because know, carry off, overhead think you they'll volumes investments business anyway.

end around of as the day, investments, at margin of largely the think business. the of out these accretion Larry would I yeah, we expect So, the component said, side

Patrick Ho

very Right, thank much. you

Jeff Andreson

Thank you, Patrick.

Operator

Thank you.

Sankar with Krish Our next Company. and question question. comes your Please from with line of Cowen proceed

Krish Sankar

thanks of had the two question. Hi, them. for I

Larry, revenue is to clearly, XX% least First WFE And December and mentioned quarter? follow-ups? XX% sequentially, be September should quarter it assume year. have one, two that from you the math, grow has do either this December at Jeff for or If fair the grown I then up I the at least sequentially should

Jeff Andreson

Yeah, well, I'll this one Krish. take

be WFE think of I guide rate some just WFE, you. to the we'll that it, in we're growth of the helps some but the, think optical. pretty know, couch DUV to I not has to going if been of that, really would specifically to we that, you overall close say, in upside lithography and

Krish Sankar

helpful. lot revenues, is in got is of but difference the it. [right the That’s the is, higher be maybe through? that to your upside is OpEx it, for And going quarter, December you not the a whole to September, then, Larry, way] it versus is said XX-week be implication question next could a Got super

Larry Sparks

mean, revenue I – extra you help the an having Well, picture. think week, I the know, does

just things depreciation know yes, you days. like labor some that extra can and translate I things OpEx. those having XX-weeks. And of know, other our think, will at we, will into So, you XX-weeks you it scale versus higher But and assume,

Jeff Andreson

it too. holidays highly, lot off. taking time know, for get get people have better And It's and when of we you a we’ve a closer, you feel

or be by – by divide a it’ll not multiply XX], a it's subset. So, not it's [XX just

So…

Krish Sankar

of these the while that it. a eval question on COVID. because just Got ago, it. know, Got a delayed you final tools], like, I And of you some then got [eval said remember

that – it revenue the is that eval, I'm it, lot I’m Now, a not assume it. one-year but with you the effectively is to trying happening, if these are customers case, qualify eval costs assuming to just have like maybe associated seems of

So, fair that to is it assume or?

Jeff Andreson

– think Krish. things, I two

think one Japan been be will COVID the are ones that's opportunity an Korea, new, still new have a the the North is I eval. between These customer in they we by six in delayed and units somewhere there's revenue. these it. their months and associated particular run on probably little months before three take cost And put them as very America tools with

won't see incremental it. So, this but We'll costs, have in some you I noise the mean, it's of at kind stage.

first So, gas is and panel then a the well. one obviously new generation as

pretty happy So, progress our second the quarter, quarter sorry. third we're in with – our

Krish Sankar

Thanks Jeff. Thanks, Larry.

Jeff Andreson

Thanks, Chris.

Larry Sparks

Chris. Thanks,

Operator

Thank you.

Our your with with comes Please Tom question D.A. Davidson. the line of proceed next Diffely question. from

Tom Diffely

a afternoon. good a talked the gross expect over the next quick we margins, maybe a nice travel you nice so Or of R&D on return lot new the back but these offset Larry, or to margins, couple bit? about for in coming Yeah, operating expenses quarters, flow programs terms through acceleration that are question that if for first margins? Maybe obviously, of the might wondering some

Larry Sparks

travel, most that in Well, up a bit shows we'll of of little OpEx. see although

we forward. this couple seeing we're I and COVID We're you impact going away, unknown. a fashion going the in just would seeing it's projecting not everybody definitely even in variant COVID, it that's similar going was in the just of orders think, it and to an I'd that's you know, know, and go freight, sort us that few you're in so states a of of and the here, in Delta away sort hoping but say, have do Malaysia

bit of So, headwind. a that's a little

up components the but machining continuing really you think, in expect I we'll looking at gas the think product improvements bump bit, profile. in and and do continuing the see in will margin business you there little for know, I in gains to mix a particular, business us, share

We you quarter. know, put XX a points. said have that acceleration this So, know, we've you together, did and, all you basis we're,

kind on You on can that, train part as on, that of and come into kind as things you of the XXXX. some early we to But we I capacity. adding get into definitely, know, optimistic, and starting know, back online. that's I'm we, And very QX back and new the mentioned, go qualifications we're we're think, where beyond, get of hoping Jeff all of

us You position. in a know, that'll good put

Jeff Andreson

see leverage even operating still through have, the bit Yeah. OpEx revenue increase growing range of the And we a within you'll got the it's SOX, and we've the similar though at then clearly, well an from our margin, levels. margin guided you've little and because the staying

So, you see improve. operating margin will

Tom Diffely

is, at all, Okay. talked you planning your Jeff, visibility? in And, unheard of changed of inventory like months about Has that this visibility, your operations, six which [indiscernible] forward anything of industry. that, go kind the basis your levels, on

Jeff Andreson

the think answer I is, yes.

and really with have we suppliers. I get get forecasts, think procurement better good that, better to who our we you know, plans forecasts, pretty [POs] visibility, we more confidence lay our out

much ensuring and get as Our that, customers very know, as cooperative visibility we possible. you being are

improve, are supply do. helps challenges, and to, think about to So continued know few progress. talked Obviously, that chain, but I what starting I we've the think in things all know, general, see we'll a you

having know, Malaysia, unique and I think a in to, with other rejiggered You up think is of little suppliers. ended that network few I of, know, you kind impact replace COVID managed the a within to tier that. we we've partners barring But through of the our that sub and

to catching but still up got – we're we some do. So,

Tom Diffely

your And or the that to when of specific you first that panel generation [indiscernible] you pedal that next end-markets that's applicable all just gas end-markets on, or is a then for is gas finally, Great. very applications? look sent a your at

Jeff Andreson

a be development, to This particular control next one to our is need it well the focused R&D through panel. will get on a But markets. with we of able particular other apply we more application, kind and months to the onto and volumes, continue program as some gas all few

about actually talked So, the data] the address application. will that [next we different

Tom Diffely

time. Great. for your Thanks

Jeff Andreson

bet. You

Operator

Thank you.

from the comes question Needham with Bolton & line next with Company. of proceed Our Quinn Please question. your

Quinn Bolton

a Hey, last kind know, your these the guys, you know, constraint, doesn't of you strong seen supplies, you going wanted you components that supply, [OPM parts] if congratulations controllers, nice start how demand know, think of the wondering but one you've margin thoughts kind performance. of on just power as availability, in Jeff, I into supply my with second of peers night echo you the going dramatic your getting systems? let flow And could like address, getting other a of to sound is. Just half, effect, given or me worse? environment do types cited better

Jeff Andreson

Yeah.

talking and have. kind the to some mean, clear, content you're about, obviously, that other of Just we have manufacture I, I semiconductor, I know be we what but don't people

back getting and So, any better. secure always we've, much around through when our get maintained We've working it's We those industry. on in that with in entire to given up. we in for you and risky. us are gentleman's guidance, the But two that really you localized well Obviously, comments at broader obviously, this, general, But been the suppliers of probably very We've of to It's track. of you supply it's us of There we're, there. growth incremental kind get we inventory, we this a our pretty last some but as lot point, But visibility with say know, degree, know, what you pockets. anywhere then a we that know, it's kind this see And think get still through few get has much these remarkably up our to one say, not and moves as secure chain quicker best out I'd stuff, well. range at to with all. you areas. to doing they're us you revenue unprecedented and to, or we've know, suppliers has chain. go catch of I'd we're ramps, recovery, don't some And affects where impact to you tried through tried supply general, much can. done

Quinn Bolton

have and for outlook to, away to the affect the XXXX, bit market at DRAM, etch than a then of mix you thoughts just shifting, on your this year? perhaps outlook, and WFE it, segments, slower foundry WFE deposition overall logic looking does you that in-line or can Got know, from grow think year? I your little any sort faster obviously, whether growth how And, NAND and

Jeff Andreson

from obviously, customer’s once you progress. mean, see that, I some know, mean, but our can you I of we're Yeah, removed

But think think more closer like demand, did I maybe a year, things year, in deposition obviously for pretty like it's not and that. obviously. little you market second half, know, strong the So, to in-line with logic, know, last that do see, the know, you maybe but it in to equipment, you still I NAND but you growing this is

I grow market kind with in-line pretty take. So, but it'll closely our is of think the

Quinn Bolton

you. thank Great,

Operator

concludes this I'll the back gentlemen, session. any and Ladies question-and-answer comments. turn Mr. Andreson floor our you. for to final Thank

Jeff Andreson

look in you on and quarter. We industry. for August. employees, B. joining support our execution next and Thank us our Riley call. being historic strong our to like one in customers semiconductor QX November. the call In for their conferences, this as that our thank meantime, those for by this early at you you I'd updating on our earnings forward Needham suppliers, and Operator, hosted see to demand call to hope in environment again of the concludes we investor such

Operator

this today's gentlemen, concludes and Ladies conference. you. Thank

lines disconnect at your this time. participation. Thank may you You your for

Ichor (ICHR) 4 Aug 212021 Q2 Earnings call transcript