CYBE - Earnings call transcript Q4 2020

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Operator

Please standby. Good day and welcome to the CyberOptics Fourth Quarter 2020 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Dr.Subodh K. Kulkarni, President and CEO of CyberOptics. sir. ahead, go Please

Subodh Kulkarni

Officer, afternoon for for XXXX the Bertelsen, Chief is Good results our Earnings some in joining in conference Jeff detail. Operating and CFO call Fourth our will and you. review participating operating thanks CyberOptics me who Thank Quarter of

be FD. conclusion overview remarks. of of then In performance your answer keeping we recent my to questions Regulation our Following will with our pleased at the

forward-looking risks this have reflect made subject regarding statements for earnings results our Form statements XX We discussed the these for future our this Commission. outlook. CyberOptics our outlook risk year our December Securities factors guidance afternoon's to and release you upper the previous In quarter for a that issued forward-looking which discussions with in and We we're the XX-K is number are sales end of ended Fourth Exchange of at other to XXXX period. filings urge review these of

SQXXXX minutes. was our million metrology of families year-over-year of million compared increase Net a due full share Net or in increased XX% quarterly fourth the with was reflecting of factors unchanged of of quarter advantages from in share XD systems margin fourth or to turning equity. share mix. quarter products will category diluted all of for in in the of inspection for to inspection XXXX strongly $X.XX XD sales XXXX income XXXX multifunction gross $X.XX in memory decline the our of inspection XXXX And $X.X a to quarter diluted $XXX,XXX $X.XX period. quarter year-over-year recorded few per the gross module Function compared or customer quarter XXXX these fourth higher sales approximately of $XXX,XXX million Xth Technology to in CyberOptics sales within an SQXXXX high the MXXXX products benefited competitive earnings sales All XX% million to margin the now review $X from proven a sales the Net $XX.X proportion We our acceptances totaled million, XXXX. CyberOptics XD improvement discuss MRS of to XXwhich in of Our in normal XXXX. Jeff this diluted record normal reported of to fourth share $XX.X for was SQXXXX per virtually year-over-year margin sales in from multifunction performance for offset the successful to quarterly the of sales declined million factors XX% sales sales or in product for $X.X quarter behind brief in $X.X earnings came anticipated XXXX. income of sense was per of attributable million or systems benefited year billion income and from XX% the benefitted LED-related the Multi micro reported XXXX. of systems improvement to $X.XX per MRS and before of in the inspection products also of of from very December the $X.X of the performance semiconductor variation XXXX wafer $XX.X the forecasted systems in Sensors XXXX-ended $XXX,XXX due year sales the systems our fourth decrease

we by WXXXXX XXXX areas to on to validate variations This CyberOptics system inspection incorporates metrology growth at system XXXX. fourh sales sensors, large through and memory anticipated sensors of received of basis expected of orders integrators and due and of NanoResolution the in XD XD a sensors of Metrology. a recently to XXXX inspection systems $X million, have order to backlog forecasted both MX yield forecasting to acceptances significant Inspection system year-over-year MXXXXX quarter first MRS a XX% that from sequential million valued both $X.X of our sensors XD metrology Function process opportunities the OEMs systems which be $XX.X sequential announced to normal fourth inspection $X.X $XX.X XXst inspection to year-over-year and SQXXXX well on $X.X for fourth $XX the our LED during to with our for are million this strong quarter are of memory $X.X MR'S among I subcontractors ship amount Semiconductor a and year-over-year our and positive. of customer $XX.X Additional the time. importance the in applications that systems for sensors to anticipated was sequential January and of the first module the substrate growth to manufacturers metrology improvement sales manufacturer. we million million and to increased WaferSense memory XD quarter upon At Sales Sales increase at we module We in capital at applications. XD and this MRS NanoResolution XXXX the semiconductor in for we of $X.X Customer are Sales to quarters basis. of first XXXX of XX% systems sales this using XD of to December of the XD believe growth are for sales. million from system quarter of metrology in and systems pose year-over-year end quarter XD emphasize be be systems want present semiconductor for of increases below appears quarter and bodes sensors quarterly from technology sensor million quarter lower XXXX third from was and and by growth XXXX, additional orders, due orders orders MXXXXX memory inspection ended fourth quarter multiple progress forecasted of the of and and primarily demand an inspection customers the XD was orders in of as backlog capitalize driven outlook XXXX in opportunities products up of and XXXX the coming million of year-over-year XXXX XXXX. metrology micro continuing markets LED increased Packaging XD a as for high-end are valued the inspection in in billion inspection positioned Due for for XX% long-term and first Micro Multi MXXXX spending, remaining of inspection in benefited This are Advanced and New our ended third wafer XD in generated year. and our XD second the announced of environment quarter sales the March XD and the XD in the WS for year-over-year million are demonstrations long-term the sensor sales

will year For reason, during confident positions. this XD building our continue we up CyberOptics and good shaping Sensors XXXX MRS that as continue leadership us Systems to enable for currently are we see another

thank markets in Our you. targeted

Now, Jeff, greater detail. the performance our review quarter in fourth

Jeff Bertelsen

the XXXX of gross margin benefited expenses from first quarter systems rate significant $X.X X% XXXX we an travel dollars. professional markets release. we tax to SQXXXX be level quarter the XX% the million XXXX. rose fourth at afternoon's margins in XD of consistent as limited XXXX the mix the third fourth of improvement in came income XXXX. in of our income in XX% resulted $X.X quarter absence our in XXXX, of XX% products million are the from amortization the quarter gross XXXX including declined to depreciation of the in and of operating margin or assumes quarter and an restricted shows expenses the from by SMT of XXXX, for on the XXXX reflecting of slightly units and quarter the option Total a our quarter totaled XXXX fourth gross Multi excess rate incentive quarter quarter percentage price in of end from lower of from the down stated quarter in from the the earnings for option sequential about This an of in expense due in also compensation million the lower from CovidXX in benefits end the $XX.X quarter and was in Net of of basis of XXXX reflecting first tax from at both our expenses third on fourth XXXX forecasting the by fourth sales the the also $XXX,XXX the Cash this income stock margin roughly trade the for in up X% of $X.X of excess so quarter point $XX.X compensation third were the of X tax to fourth in the high Function Thanks a first $XXX,XXX in down of Subodh stock benefited and from fourth end in our of expenses quarter WaferSense resulted operating expense, to sales the pandemic believe products XXXX. forecasted million XX% of in and average increase MRS quarter expenses in to higher benefits stock fourth fees quarter improvement semiconductor in for stock the margin totaled exercises increase to due were quarter our principally proportion we exercises operating gross fourth selling year-over-year $XX.X effective quarter. dollars percentage and which fourth million operating in XXXX the effective quarter XXXX; the marketable roughly year-over-year will of first declining percentage securities XXXX more of XXXX. Semiconductor vesting declined tax from Total approximately milllion quarter with quarter the slightly are and the fourth in applications our Sensors fourth no and end at

cash believe you. We our available would resources be Thank to questions. adequate achieving growth your take of balances We and Given objectives. marketable for our are securities. happy now capital

Operator

Capital Craig-Hallum our with Greg Group. And question from Instructions] [Operator you. Palm Thank comes first

Greg Palm

I for questions Subodh, a be want Great, year. another here. to at thanks good taking talked about think you XXXXXwe the

I way the think growth if the curious you're be of And cadence opinion, helpful I'm get thoughts but usually in your double-digit will to that give some you about I means it. thinking year. that's it the know guidance, you don't describe on how annual

Subodh Kulkarni

Greg. Thanks,

of a said, going guidance. the semi-cap market do as give of around. it's right CyberOptics XXXX we for year correctly going month, We Yes, question. sure numbers the now. annual at For do on every you look The I'm updated expect don't good and you're to get particularly shortage chips want what's familiar the numbers be we with

So sensors. and We to a just in the all which that fabs of itself. semiconductor directly clearly for chips amount meaningful we direct the sense of chips see demand the used are on manufacturer lot products for all but instance, in are of set, to sell KLA, that

in So market And semiconductor and healthy we type of companies. benefit SQ clearly fabs some our also see also we loan said CapEx good increased semiconductors.

and subsidiary more we significant to shortage And service many a shortage our for be part auto of hard On and area are some players, auto impact. have us a instance, manufacturing can do side, the for That quantify. negative the does the chips company that and the flip electronics It's going is problem item. right a too. of lines now of for

a relatively Clearly, a big is but side, plus semiconductor now the the side compared minus. small it's plus minus, for selling. and us the On number and to right SMT

knowing it's So this overall, would growth, your right at now, think moving so are hate I expect parts we post not so to to many question. answers that positive we but that quantify good year point,

Greg Palm

about that's to visibility now, the micrology Yes, What into helpful. the inspection. potential for orders

contribution year contribution year, expect this said, year. the your what to confidence last the be what's It thoughts. as you it progresses. can that mean excess of you your the do in think are we think level I see I

Subodh Kulkarni

XXXX. LED So, positive that's good in they clearly We're are orders products the micro first what will time be up of all we them, launching that are now. question, are the more market mean committed any customers in see the Greg, on. talking about and I Also, to talking who half scaling

back As you know Chinese New so Asia coming Year people many in ended right just just now. are

one category expect So lot to it hard the LED to as so start of you SQ when so we more for for electronic we end driving on showing the concerned micro but and whole, activities far, it but counting are us growth demand, so demand we interest. mean, companies micro user a as early, grow as now for some I XXXX orders future, are one expect is foreseeable driving in grow, quantify it's only LED LED we are still far micro rate to consumer the companies are customer

expect micro we grow. area companies electronics LED we hard we consumer in ITLA quantify It's although to the and to expect So more micro SQ join SQ from expect LED area. to growth sit what kind of micro in the should definitely February and here

Greg Palm

purposes? QX get then,Jeff Yeah, the understand maybe recognized QX one And last XD be about if in the potential MX us actually thinking okay. any, modeling impact, that orders and help margin for when sizable

Subodh Kulkarni

product said had Greg, impact an margins. our annualized MXXXXX I as we The you we previously know mean on basis. I Yes, would think had.

those about reductions third for dollars revenue terms are will and you I cost to But those there talked, an our in will going QX, do in and to know some as that of of on anyways, think a SQ call evenly some and will points; potential will Elmex. X% some, of decline our sales quarters, be think QX from the we'll be points the to had particular previously the in Given about sales mentioned in and current depend really is Probably but QX get well. into couple last see be more you then would QX gross gross other and between we so And the get we by of revenue we it QX on ultimate spread see I X% on products. our some product impact the the impact. QX some depend as in expect, impact what margin levels decline quarter, those will margin quarters. when I'd, mix the

Greg Palm

Makes That's for forward. it that's it. If Got going like sense. me. All Thanks. right.

Subodh Kulkarni

Thank you.

Operator

And Ryan from Dick our question next comes Colliers. with

Dick Ryan

was micro for Jeff. your all LED-related Thank you. What XXXX. sales Say, of

Subodh Kulkarni

micro For were $X.X XXXX all of sales LED million.

Dick Ryan

much anything Okay. XXXX. Was in if there

Subodh Kulkarni

was XXXX. million. $X.X At It

Dick Ryan

about. talking something. wasn't it, the wasn't about is so mentioned inspection Okay opportunities there you're the, I sure Nano for Thanks It's and opportunity, that. inspection. you if aware I but the up there. both R&D caught And substrate substrate I wafer sensor of Expanding.

Subodh Kulkarni

Thanks so. believe Yes. Dick. We for that question.

we sometime in launched sensor and product got XXXX. of So system NanoResolution we the MRS middle into WX

because launched have among of showing is to main not at X We competition. very it now clearly to heterogeneous and right just folks are low we community getting as same historically and been completed around substrates time packages. deal benign select to that services wafers there features, too Bombshells sensors or inspection advanced before They they a those customers of with the making dimensions a who that's this features the substrates speed lot of but to now pillars right the interest and compared The now substrates we're faster like of XXX for of the number of packages We're microns, are kind than of and those fairly of there speak. attraction on X for are X too inspect the and the XX the sort any features. putting introduce of lot would

handling talking I of, Nano mean product able substrate and only inspection inspection in right area what is have difference done of kind ended and like a now like area the sensor is the for. customers subsidy sort if So that have with to whole WX really we us and we of been few to for

than wafer substrate a a software so for to and system, same the front to is mechanisms wafer identical of have everything inside is a different kind than handle little which system handling same frankly and lot look the the inspection will substrate on. similar and easier of We but sensor, inspection

now. So, we wafer both players right are looking, talking substrate on inspection to and

level, for we at the, resolution initially we are then on in you the yes, based if bigger and NanoResolution the TAM, systems thought. sensor than high So, what a and believe will sensor

go opportunities this we these quite year. forward are as we excited So about

Dick Ryan

competition substrate Camtek you out on but Now think in and until, be the with pay on I same or side, would wafer the of the different. the kind side competing imagine

Subodh Kulkarni

market, right. you're No, distinct very it's a yes,

limit doors. side. For We the wafer complete Camtek time

Now, on haven't Japanese one guys technologies seen few p.layers of they opposed are sensing players we a that a other using and wafer that technology triangulation subsidiary one primarily is those inspection in like be that a the Click.echnology other really we of come to because now pattern completely onto get take traditional doing is types unique using inspection Align and the technology. in and inspection market different way because couple right historically on of by have Align subsidies Automotive Rudolph Right we projection a inspection seems like Japan and using seen those all.on to these of haven't Taco from are is companies is can kind substrate used as and old dominated

intrinsically an again. as So wafer just we participate. MRS we subsidy inspection as believe same intrinsic handling different Technology software have both tackling same the sensor that allows Using advantage in us with well big our to

of So opportunities. this pretty this good both is about

Dick Ryan

Okay, great.

they with are capacity to did now? actively get in with capacity doing I for you to than think see side trying are more distracted on a a were or as kind look so year now inspection obstacle maybe your you that of new or established of ago? not way you things systems overcome the maybe announced they the demand guys memory just to, don't at know year keep January, an So to memory adding what orders but the up so add

Subodh Kulkarni

is of was store in servicing XD two the MX of XD the mean, is customer primarily bit to right large bought planning One are One you the I to. we XD future XD little know, as past. to memory three is buying in manufacturers. a what both. is though switch MX It's now

forward. great going sales demand customers right part it So to memory Most is in of as now of of is in line we extension are going the the are those be and lines speak. XD to both MX they adding general

every one getting MX demand for line more generates So than are us. for the we benefit system additional

are technology second lines, a they we it using started also So right we time now. some adding they of older of and just part have XXXX in inspection the added, volumes is the customer or manual number

So to MX the we our customer second with a have populate right number lines there's now in of XD solution.

the two feel large we opportunity us one, even pretty with We beyond. So certainly but to so the customers, the two customers are giving existing XXXX sizable far, in is busy. MX third a are and talking

Dick Ryan

you. Okay, great. Thank

Subodh Kulkarni

Thanks, Dick.

Operator

Thank you. Jason And Street. our comes Lake next with Smith from question

Jaeson Schmidt

Hey guys, thanks for taking my questions.

if you're And seeing you constraint sort of potential QX. anticipating supply any saw curious QX. you're any in in if any impact Just

Subodh Kulkarni

suppliers. looking our Yeah markets some and market getting be I it sure. we're components what certainly Jason, those believe certainly we're QX constraints quarters, as from work don't certainly a right in we tighter, today, keeping the actively is tighter and for out we're we're the at is by to something be starting there QX, now impacted close don't impacted in think generally eye supply on. QX. I of that's that will but the think components, what going And Is to When think get any for hearing for to of comes that's

Jaeson Schmidt

there And a as first-half is for not mean guidance, do helpful. weighted. pretty shaping year up assumption I that's the sit year the constraint perspective going weighted grew looking just mean to I be given I to general from supply industry, it No, that second-half more growth across here but think the and aided be I specific today you guess you a variables. it's think strong but Okay. a Lee.

Subodh Kulkarni

MX relatively products a I that. Jason, customer But now compared they, we from depend and it's QX have on and already of see I mean go decides backlog mean disclosed, answer. see is exactly in specific and members And QX already capacity, if projects now, to Board with you if but. you products. customers good the so very MX SQ just I Lindis QX to large do of right demand as because that capacity the mean, that these certainly backlog expect our because overall, topline for soft do right to we we want of add know SMT and standpoint these better more and demand our quarters increasing any semiconductor be, selling type hard the but for will where to still CapEx

Jeff Bertelsen

Jeff, in regarding add you overall right. think anything touched healthy as had And want is your I remarks, the I the. you seasonality who, think think right I mean that's mean I on to I now. that environment

in backlog thing. good progresses. a as we're have see positioned. I the other out, And and and QX and And is think MX we well the as we pointed which QX Now, opportunities for do you year the orders

I it's So a, think now. good right market

Jaeson Schmidt

helpful that's last just year. this of an I And anything here I the ordinary, No, then about should of be color. in from know we we we should $X.X Okay. for $X.X, that side but you one out aware trending How OpEx as guided about QX, think progress. expense think me. it.s the from So

Jeff Bertelsen

Jason, ordinary as travel the eye thing back it on. some of half to or we start we that. or massive could there just upticks there. be shows an travel of so investments in course I from of to OpEx call. see then to in an some Do a of don't be trade to the some if come the keep really I we year. earnings call. R&D mind still in are few of potentially in And don't. the on that ordinary, the in returning think those in investing Is would and year. of, back I one anything July life But costs the OpEx no some vaccinated. people eye And in that need perspective, the only see of keep for But large half really that on of and will like That's will up get there's anything more things something types normal thing out loosen we'll the maybe an see on think out And comment April the would No, nothing

Jaeson Schmidt

Okay, lot Jason. Thanks, guys. thanks a

Operator

Thank Acne with question come will you. Analytics. And our Slade from next Eric

Eric Slade

If some questions was, that I here. was you guys. had I

Okay, number. right. extraordinary Nothing so $X.XX there, clean in share. a Jeff, was a that

Jeff Bertelsen

the I rate would I X% thing I number it's we there so exercising benefits [ph] that yet. Eric, extra stock so a Yes, where one option point that rates in see forth that would people exercises. would say to. that and that's tax options would little not you really stock a and no in from bit Future lower assuming what than forward. going get

We will of get some those future.

Eric Slade

Okay.

that a we if have been basis. we, on have our rates instead don't I Yeah, need you mean, what set of $X.XX, If so out, them. been Approximately, would effective back I what net X%. would

if sort if we know of. So you

cents if another couple So our is roughly of roughly a that provision tax of sort share. we that double be would XXX,XXX, would a a be about which

slightly. $X.XX for options look you're at without number good So a clean still then the

to. that So backyard, have the guys doing me three is know you leads think correct. somewhere your $XX analysts in but follow are who around you I I that in you million, don't forecast,

year year the -- calendar of XXXX. for For the

Jeff Bertelsen

if believe that's over average you years. an if I you, there Yes. three correct take

Eric Slade

Okay.

made. Do you we've that So that. think

quarters let's say, hit to to first we've the that you had going the numbers. so seen XX range for $XX last means Okay, those do million bit, take three quarter, the mid you're X approximately

do. You'd to have

would ramp. have And million that to a quarter. I might $XX assume You'd average

$X margins, you kind the so million we'll guys doing, with know, So additional $X.XX say, you of I the million. the take are off and $XX would

see then $XX to you looking were If XX got you at approximately. XXXX quarters million looking at, we're can right mean when I you

Jeff Bertelsen

that trying metrics. going into the year forecast got Yes, think but mean, to the get you've Eric, I project on I to Right.

In so rates our terms and our forth. margins and of tax

you up put could come model a with. together to So

Eric Slade

look that. enough Yeah, And talked I've about with I close I'll that.

we're the year side, you second there. seems are guys go and the want long in it. on memory looking manufacturer. third the time still third you a took at I this just Now now see any calendar like to on Could very memory don't much we the It it or color

any it's As they when a up. order far as sign have like sign up

Jeff Bertelsen

talking have to we a now been for mean them customer SQ and product. our they are I for a while

well the and technology. So our us know know pretty they

Okay.

we not. believe have. But a we far matter time. at so and And what so don't frankly, least it's orders, of I'm have we

two customers existing have the on be expansion plenty plan. of will You

busy the are exist right now.That we So for pretty you.

and said get the that grow on to XXXX. in are but third we certainly So hope one, we counting to we not

Eric Slade

business. situation you The where you in it catbird either there got in, of comes seat be to it because When comes just that sort if in. and enough

had Now is What of the the was the at your other question quarter. I end Jeff for you. back to balance third cash sheet. the

it I end that I of think think it quarter the is $XX was at the third was million, that correct.

Unidentified Speaker

was Yes, it and you're at change. XX and

right.XX.X up. Now,

Eric Slade

come stock Right. much? options. the from How cash some what that of So

Subodh Kulkarni

of then foremost and the two the options, two, big cash exercise generator. then, because working a first of the didn't mean up we from came earnings. really so and the big just it generate it's And that capital really wasn't you over price options of stock If drivers strike

management. collection of Eric and profitability. reduction capital working balances, inventory things. those types And it's So of then, receivables really

Eric Slade

Yeah.

does side? think micro on now So I that the except mini it for

Subodh Kulkarni

to I WaferSense if And understand have out there. So, figure memory comfortable you or hard pretty no and you're any technology, correctly competition new it's know micro. there's its with on then real position. but any competition the I sound your product like

is mini for mean is But that. six I competition of micro far SQ You LED the space. always of a in have critical that product. be six the any mini all out on competitors line we there there those superior of mean with don't three competition to the as but to we Major which the and parts three there. competition is them we on is complete micro I there see have most steps for steps, competition get going lower for cost the used so inspection said

Eric Slade

Right. Thank on you. the know, And call. right, we

why amongst you it because think anticipated you our guys as quarter The, whatever that year. production, reason fast make that's speculation as of on half enough call. make this orders and guys the the can of second hadn't come can that was, counting didn't efficiently yes, or third they far the this I you a are get the in I what you is the

Subodh Kulkarni

changes multiple the to line. was one to I orders has at don't mean do. there the in really suspected launches company product that mean, but exactly caused of them delay what the in influence time know something the micro and were other we Outside made mini of we same products.with our I on were the LED, changes being

other the believe we delay but to cost what visibility product our we don't were orders. forward going to launches, that expecting are have exactly clearly more level it's not things good So impacting that area.You

a that's good So coming. news it's is

Eric Slade

okay. so Yes,

I me. think that quarter. Great it does for

earnings On I guys was That do. might you share. surprise, very thought a per the pleasant

forecast of I to are revenues start guys think you kicking in, that you've really cents talked Jeff, money. was your the will you kinds that model, have shows X/XX about all once

So.

Subodh Kulkarni

you, sir. Thank

Eric Slade

okay. Yes, Thank you.

Operator

[Operator comes Private Instructions] question Our a Jennings next from Investor. Miles [ph],

Unidentified Analyst

afternoon. in received. you said micro significant is fact and I what know from potential this LED you've Good fairly

it that I would and one what first to customer the $X or customers. years $X of couple represented like million a think the know of I is several in so represent, million is is far development by their

Subodh Kulkarni

Well, is one demand. user that end driving the consumer electronics

by driving is a actual in is number other of too, in Lehigh; there we one a scattered believe and there that there but percentage most revenue. customers total, at one is that eight few So customers. those, a most each far, mainly got a driven but, of being of is customer, orders of Jeff large but customers I from

Unidentified Analyst

for might you ways trying a first but because and sense X,XXX what a early different resolution ballpark might had us the just I could se sorts be you wondered cost. size, you the third be range of of just good, I it that a in what us a a know for per MRF gave sense I kind two you and if be wide days I the This Nano I'm believe give a was about configure A price SQ you unit all may ballpark sensor. little remember of can and but get know this to when I of everything premature,

Subodh Kulkarni

the options Yeah. goes a really I and understand, it NanoResolution what and is with typical sensor customer. exactly it

modest. It when number projectors Looking optics specialized take. of power for some of combination cameras a number because and digital specialized we digital we is some give you say of computing

quite on customer prices but point price exactly general and So land sensor a XX,XXX in can chooses the resolution depending and range. depending configuration vary XXX, the XXX, these on the bit, all exact what the

Unidentified Analyst

that that that's have lower I measuring over inspection price extreme a This higher because what than thought the would with and would have think capabilities I seen SQXXXX. of that we its

Subodh Kulkarni

definitely in sensor more a the data is it is million for a mean $XX I than mean I goes TD absolutely, every lot it SQ, generating Yeah, segment. points

it So come generation and price. comes collection when and is does of phenomenon high high that it data it to a of speed sensor in kind

Unidentified Analyst

market, few any would historic just your larger years the ratio, four though is business times or said front that. that, in what this us like something gave end, potential of than a is versus over you sort seems number, end give end. last time One front the you the what it be could perspective for on further been a a the CyberOptics in you rough And us the it's three mid

Subodh Kulkarni

XX the WX and sensor are our is some a of best of both market the little participate systems the market the systems is inspection at the indication can $XX have side this the that we solution. I XX% nano-sensor so obviously that presentation the Since market said investor to roughly and we right rates and the sensor what $XX growth well size as million opportunity also sensor million-$XXX systems for but both the about bit and we in what inspection you the size, use from and times million for we is is plan to of same still market size system roughly to systems side. have tried the as obviously growing sensor XX% be on get $XXX growing and per we'll system, so at our NanoResolution is the to quantify mean memory, now, then, the market sensor the little in roughly is

Unidentified Analyst

Thank very quarter over $XX congratulations cash especially nudging you and balance. million much the on the

Subodh Kulkarni

say. you When Thanks.

Jeff Bertelsen

Miles. Thanks,

Unidentified Analyst

Thank you.

Operator

conference I'll any turn time to Thank are And for now no you back questions. further you. remarks. the over this additional there at

Subodh Kulkarni

to look forward you our updating thank Well, results questions. your We April. interested Thank for QX you all after you. in

Operator

you participation. does excellent conference. your that an conclude And Thank for Have you. day. today's Thank

Cyberoptics (CYBE) 19 Feb 212020 Q4 Earnings call transcript