Skyworks Delivers $402.3 Million in Revenue and $0.54 of Non-GAAP Diluted EPS
($0.34 GAAP) in Q4 FY11
Posts 28 Percent Year-Over-Year and 13 Percent Sequential Revenue Growth
WOBURN, Mass., Nov 03, 2011 (BUSINESS WIRE) -- --Expands Operating Margin 110
Basis Points Year-Over-Year to 27.2 Percent on a Non-GAAP Basis (19.3 Percent
GAAP)
--Generates $123 Million in Cash Flow from Operations
--Exits the Quarter with $411 Million in Cash
Skyworks Solutions, Inc. (SWKS), an innovator of high reliability analog and
mixed signal semiconductors enabling a broad range of end markets, today reported
fourth fiscal quarter and year end 2011 results. Revenue for the quarter was
$402.3 million versus guidance of $400 million, and was up 28 percent
year-over-year and 13 percent sequentially. For fiscal year 2011, revenue was
$1.419 billion versus $1.072 billion in fiscal 2010, a 32 percent increase.
On a non-GAAP basis, operating income for the fourth fiscal quarter was $109.4
million, up from $81.8 million in the prior-year period, reflecting a 34 percent
increase. Non-GAAP diluted earnings per share for the fourth fiscal quarter was
$0.54 compared to $0.43 for the same period a year ago, a 26 percent improvement.
On a GAAP basis, operating income for the fourth fiscal quarter of 2011 was $77.7
million and diluted earnings per share was $0.34.
For fiscal 2011, operating income was $384.7 million on a non-GAAP basis, up 56
percent from $246.3 million in fiscal 2010, while non-GAAP diluted earnings per
share for the year was $1.89 compared to $1.26 in fiscal 2010, a 50 percent
improvement. On a GAAP basis, operating income for fiscal 2011 was $295.3 million
and diluted earnings per share was $1.19.
"Skyworks' solid performance demonstrates the strength of our diversified
business model, continued share gains and operational leverage," said David J.
Aldrich, president and chief executive officer of Skyworks. "At a higher level,
despite the current economic environment, we believe that long-term industry
fundamentals remain strong as analog content and complexity continue to increase.
Given our differentiated product portfolio, technology leadership, broad customer
engagements and scale, Skyworks is strategically well positioned to capitalize on
the growing number of platforms that are becoming wirelessly enabled and, in
turn, to outperform our addressed markets."
Q4 Business Highlights
-- Expanded gross margin by 90 basis points year-over-year to 44.7 percent on a
non-GAAP basis (43.4 percent GAAP)
-- Improved operating margin by 110 basis points year-over-year to 27.2 percent
on a non-GAAP basis (19.3 percent GAAP)
-- Ramped 3G/LTE multimode, multiband solutions for Samsung's next generation
Galaxy S(TM) II smart phone platforms
-- Supported ZTE's launch of tablets and notebooks with EDGE and WCDMA/LTE
front-end solutions
-- Introduced a family of low noise amplifiers for wireless infrastructure and
networking applications
-- Shipped switch matrix solutions to Siemens Healthcare for deployment in their
Magnetic Resonance Imaging (MRI) scanners
-- Designed into a leading manufacturer's platform for hearing aids using ultra
low power amplifiers
-- Commenced volume shipments of ZigBee(R)-enabled solutions to multiple ODMs in
support of home security applications
First Fiscal Quarter 2012 Outlook
"We anticipate revenue in the first fiscal quarter of 2012 to be up 16 percent
year-over-year in the $390 million range," said Donald W. Palette, vice president
and chief financial officer of Skyworks. "Our guidance reflects near term market
weakness largely offset by new program ramps. Operationally, we expect to deliver
non-GAAP diluted earnings per share of $0.50. Note, our outlook excludes any
contribution from Advanced Analogic Technologies."
For further information regarding use of non-GAAP measures in this press release,
please refer to the Discussion Regarding the Use of Non-GAAP Financial Measures
set forth below.
Skyworks' Fourth Fiscal Quarter 2011 Conference Call
Skyworks will host a conference call with analysts to discuss its fourth fiscal
quarter 2011 results and business outlook today at 5:00 p.m. Eastern time. To
listen to the conference call via the Internet, please visit the investor
relations section of Skyworks' Web site. To listen to the conference call via
telephone, please call 888-312-3052 (domestic) or 719-325-2107 (international),
confirmation code: 1214860.
Playback of the conference call will begin at 9:00 p.m. Eastern time on November
3, and end at 9:00 p.m. Eastern time on November 10. The replay will be available
on Skyworks' Web site or by calling 888-203-1112 (domestic) or 719-457-0820
(international), pass code: 1214860.
About Skyworks
Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed
signal semiconductors. Leveraging core technologies, Skyworks offers diverse
standard and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military and mobile
handset applications. The Company's portfolio includes amplifiers, attenuators,
circulators, detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, isolators, mixers/demodulators, optocouplers,
optoisolators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners,
receivers, switches and technical ceramics.
Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com.
Safe Harbor Statement
This news release includes "forward-looking statements" intended to qualify for
the safe harbor from liability established by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include without limitation
information relating to future results and expectations of Skyworks (including
without limitation certain projections and business trends). Forward-looking
statements can often be identified by words such as "anticipates," "expects,"
"forecasts," "intends," "believes," "plans," "may," "will," or "continue," and
similar expressions and variations or negatives of these words. All such
statements are subject to certain risks, uncertainties and other important
factors that could cause actual results to differ materially and adversely from
those projected, and may affect our future operating results, financial position
and cash flows.
These risks, uncertainties and other important factors include, but are not
limited to: whether, as a result of the outcome of an arbitration proceeding in
Delaware chancery court scheduled for the end of November 2011, we are required
to close the acquisition of Advanced Analogic Technologies; whether we are able
to successfully integrate Advanced Analogic Technologies' operations if we are
required to close such acquisition; uncertainty regarding global economic and
financial market conditions; the susceptibility of the wireless semiconductor
industry and the markets addressed by our, and our customers', products to
economic downturns; the timing, rescheduling or cancellation of significant
customer orders and our ability, as well as the ability of our customers, to
manage inventory; losses or curtailments of purchases or payments from key
customers, or the timing of customer inventory adjustments; the availability and
pricing of third party semiconductor foundry, assembly and test capacity, raw
materials and supplier components; changes in laws, regulations and/or policies
in the United States that could adversely affect financial markets and our
ability to raise capital; our ability to develop, manufacture and market
innovative products in a highly price competitive and rapidly changing
technological environment; economic, social and political conditions in the
countries in which we, our customers or our suppliers operate, including security
and health risks, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates; fluctuations in our
manufacturing yields due to our complex and specialized manufacturing processes;
delays or disruptions in production due to equipment maintenance, repairs and/or
upgrades; our reliance on several key customers for a large percentage of our
sales; fluctuations in the manufacturing yields of our third party semiconductor
foundries and other problems or delays in the fabrication, assembly, testing or
delivery of our products; our ability to timely and accurately predict market
requirements and evolving industry standards, and to identify opportunities in
new markets; uncertainties of litigation, including potential disputes over
intellectual property infringement and rights, as well as payments related to the
licensing and/or sale of such rights; our ability to rapidly develop new products
and avoid product obsolescence; our ability to retain, recruit and hire key
executives, technical personnel and other employees in the positions and numbers,
with the experience and capabilities, and at the compensation levels needed to
implement our business and product plans; lengthy product development cycles that
impact the timing of new product introductions; unfavorable changes in product
mix; the quality of our products and any remediation costs; shorter than expected
product life cycles; problems or delays that we may face in shifting our products
to smaller geometry process technologies and in achieving higher levels of design
integration; and our ability to continue to grow and maintain an intellectual
property portfolio and obtain needed licenses from third parties, as well as
other risks and uncertainties, including but not limited to those detailed from
time to time in our filings with the Securities and Exchange Commission.
These forward-looking statements are made only as of the date hereof, and we
undertake no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise.
Note to Editors: Skyworks and Skyworks Solutions are trademarks or registered
trademarks of Skyworks Solutions, Inc. or its subsidiaries in the United States
and in other countries. All other brands and names listed are trademarks of their
respective companies.
SKYWORKS SOLUTIONS, INC.
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months EndedYear Ended
------------------------------- -----------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands, except per share amounts)2011201020112010
---------------- -------------- ------------------ ----------------
Net revenue$ 402,316$ 313,283$ 1,418,922$ 1,071,849
Cost of goods sold227,756177,124798,618615,016
--------------------------------
Gross profit174,560136,159620,304456,833
Operating expenses:
Research and development47,40935,409168,637134,140
Selling, general and administrative39,07133,689137,238117,853
888-2,363(1,040)
Restructuring and other charges (credits)
Amortization of intangibles9,4961,63416,7426,136
--------------------------------
Total operating expenses96,86470,732324,980257,089
Operating income77,69665,427295,324199,744
Interest expense(473)(627)(1,936)(4,246)
Loss on early retirement of convertible debt---(79)
Other income (loss), net683(45)498(345)
-------------- -------------------- --
Income before income taxes77,90664,755293,886195,074
Provision for income taxes13,69717,95167,30157,780
--------------------------------
Net income$64,209$46,804$226,585$137,294
=== ========= ========== =========== =========
Earnings per share:
Basic$0.35$0.26$1.24$0.78
Diluted$0.34$0.25$1.19$0.75
Weighted average shares:
Basic183,591177,418182,879175,020
Diluted190,786184,734190,667182,738
SKYWORKS SOLUTIONS, INC.
UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP gross profit$ 174,560$ 136,159$ 620,304$ 456,833
Share-based compensation expense [a]2,1601,1057,5573,857
Acquisition-related expense 2,955-4,572-
----------------------------
Non-GAAP gross profit$ 179,675$ 137,264$ 632,433$ 460,690
=== ========== ========== ========== =======
Non-GAAP gross margin %44.7 %43.8 %44.6 %43.0 %
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP operating income$77,696$65,427$ 295,324$ 199,744
Share-based compensation expense [a]15,65014,50358,33840,742
Acquisition-related expense 5,509-9,014-
Litigation settlement gains and losses [c]--2,300-
Amortization of intangible assets9,4961,63416,7426,136
Restructuring & other charges (credits) [d]888-2,363(1,040)
Deferred executive compensation143233594752
Non-GAAP operating income$ 109,382$81,797$ 384,675$ 246,334
=== ========== ========== ========== =======
Non-GAAP operating margin %27.2 %26.1 %27.1 %23.0 %
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income$64,209$46,804$ 226,585$ 137,294
Share-based compensation expense [a]15,65014,50358,33840,742
Acquisition-related expense 5,509-9,014-
Litigation settlement gains and losses [c]--2,300-
Amortization of intangible assets9,4961,63416,7426,136
Restructuring & other charges (credits) [d]888-2,363(1,040)
Deferred executive compensation143233594752
Loss on early retirement of convertible debt [e]---79
Amortization of discount on convertible debt [f]3453221,3452,502
Tax adjustments [g]7,58115,28743,00442,982
----------------------------
Non-GAAP net income$ 103,821$78,783$ 360,285$ 229,447
=== ========== ========== ========== =======
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income per share, diluted$0.34$0.25$1.19$0.75
Share-based compensation expense [a]0.080.080.310.22
Acquisition-related expense 0.03-0.05-
Litigation settlement gains and losses [c]--0.01-
Amortization of intangible assets0.050.010.090.04
Restructuring & other charges (credits) [d]--0.01-
Amortization of discount on convertible debt [f]---0.01
Tax adjustments [g]0.040.090.230.24
----------------------------
Non-GAAP net income per share, diluted$0.54$0.43$1.89$1.26
=== ========== ========== ========== =======
SKYWORKS SOLUTIONS, INC. DISCUSSION REGARDING THE USE OF NON-GAAP FINANCIAL
MEASURES
Our earnings release contains some or all of the following financial measures
which have not been calculated in accordance with United States Generally
Accepted Accounting Principles (GAAP): (i) non-GAAP gross profit and gross
margin, (ii) non-GAAP operating income and operating margin, (iii) non-GAAP net
income, and (iv) non-GAAP net income per share (diluted). As set forth in the
"Unaudited Reconciliation of Non-GAAP Financial Measures" table found above, we
derive such non-GAAP financial measures by excluding certain expenses and other
items from the respective GAAP financial measure that is most directly comparable
to each non-GAAP financial measure. Management uses these non-GAAP financial
measures to evaluate our operating performance and compare it against past
periods, make operating decisions, forecast for future periods, compare operating
performance against peer companies and determine payments under certain
compensation programs. These non-GAAP financial measures provide management with
additional means to understand and evaluate the operating results and trends in
our ongoing business by eliminating certain non-recurring expenses (which may not
occur in each period presented) and other items that management believes might
otherwise make comparisons of our ongoing business with prior periods and
competitors more difficult, obscure trends in ongoing operations or reduce
management's ability to make useful forecasts.
We provide investors with non-GAAP gross profit and gross margin, non-GAAP
operating income and operating margin and non-GAAP net income because we believe
it is important for investors to be able to closely monitor and understand
changes in our ability to generate income from ongoing business operations. We
believe these non-GAAP financial measures give investors an additional method to
evaluate historical operating performance and identify trends, additional means
of evaluating period-over-period operating performance and a method to facilitate
certain comparisons of operating results to peer companies. We also believe that
providing non-GAAP operating income and operating margin allows investors to
assess the extent to which ongoing operations impact our overall financial
performance. We further believe that providing non-GAAP net income and non-GAAP
net income per share (diluted) allows investors to assess the overall financial
performance of ongoing operations by eliminating the impact of certain financing
decisions related to our convertible debt and certain tax items which may not
occur in each period for which financial information is presented and which
represent gains or losses unrelated to our ongoing operations. We believe that
disclosing these non-GAAP financial measures contributes to enhanced financial
reporting transparency and provides investors with added clarity about complex
financial performance measures.
We calculate non-GAAP gross profit by excluding from GAAP gross profit, stock
compensation expense, restructuring-related charges and acquisition-related
expenses. We calculate non-GAAP operating income by excluding from GAAP operating
income, stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses and certain
deferred executive compensation. We calculate non-GAAP net income and net income
per share (diluted) by excluding from GAAP net income and net income per share
(diluted), stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses,
amortization of discount on convertible debt, and certain deferred executive
compensation, as well as certain items related to the retirement of convertible
debt, and certain tax items, which may not occur in all periods for which
financial information is presented. We exclude the items identified above from
the respective non-GAAP financial measure referenced above for the reasons set
forth with respect to each such excluded item below:
Stock Compensation - because (1) the total amount of expense is partially outside
of our control because it is based on factors such as stock price volatility and
interest rates, which may be unrelated to our performance during the period in
which the expense is incurred, (2) it is an expense based upon a valuation
methodology premised on assumptions that vary over time, and (3) the amount of
the expense can vary significantly between companies due to factors that can be
outside of the control of such companies.
Acquisition-Related Expenses - including such items as, when applicable,
amortization of acquired intangible assets, fair value adjustments to contingent
consideration, fair value charges incurred upon the sale of acquired inventory,
acquisition-related professional fees and deemed compensation expenses, because
they are not considered by management in making operating decisions and we
believe that such expenses do not have a direct correlation to future business
operations and thereby including such charges does not accurately reflect the
performance of our ongoing operations for the period in which such charges are
incurred.
Litigation Settlement Gains and Losses - including gains and losses related to
the resolution of other than ordinary course threatened and actually filed
lawsuits and other than ordinary course contractual disputes, because (1) they
are not considered by management in making operating decisions, (2) such gains
and losses tend to be infrequent in nature, (3) such gains and losses are
generally not directly controlled by management, (4) we believe such gains and
losses do not necessarily reflect the performance of our ongoing operations for
the period in which such charges are recognized and (5) the amount of such gains
or losses can vary significantly between companies and make comparisons
difficult.
Restructuring-Related Charges - because, to the extent such charges impact a
period presented, we believe that they have no direct correlation to future
business operations and including such charges does not necessarily reflect the
performance of our ongoing operations for the period in which such charges are
incurred.
Deferred Executive Compensation - including charges related to any contingent
obligation pursuant to an executive severance agreement because we believe the
period over which the obligation is amortized may not reflect the period of
benefit and that such expense has no direct correlation with our recurring
business operations and including such expenses does not accurately reflect the
compensation expense for the period in which incurred.
Amortization of Discount on Convertible Debt - comprised of the amortization of
the debt discount recorded at inception of the convertible debt borrowing related
to the adoption of ASC 470-20, because the expense is dependent on fair value
assessments and is not considered by management when making operating decisions.
Gains and Losses on Retirement of Convertible Debt - because, to the extent that
gains or losses from such repurchases impact a period presented, we do not
believe that they reflect the underlying performance of ongoing business
operations for such period.
Certain Income Tax Items - including certain deferred tax charges and benefits
which do not result in a current tax payment or tax refund and other adjustments
which are not indicative of ongoing business operations.
The non-GAAP financial measures presented in the table above should not be
considered in isolation and are not an alternative for, the respective GAAP
financial measure that is most directly comparable to each such non-GAAP
financial measure. Investors are cautioned against placing undue reliance on
these non-GAAP financial measures and are urged to review and consider carefully
the adjustments made by management to the most directly comparable GAAP financial
measures to arrive at these non-GAAP financial measures. Non-GAAP financial
measures may have limited value as analytical tools because they may exclude
certain expenses that some investors consider important in evaluating operating
performance or ongoing business. Further, non-GAAP financial measures are likely
to have limited value for purposes of drawing comparisons between companies
because different companies may calculate similarly titled non-GAAP financial
measures in different ways because non-GAAP measures are not based on any
comprehensive set of accounting rules or principles.
Our earnings release contains a forward looking estimate of non-GAAP diluted
earnings per share for the first quarter of our 2012 fiscal year ("Q1 2012"). We
provide this non-GAAP measure to investors on a prospective basis for the same
reasons (set forth above) that we provide them to investors on a historical
basis. We are unable to provide a reconciliation of our forward looking estimate
of Q1 2012 non-GAAP diluted earnings per share to a forward looking estimate of
Q1 2012 GAAP diluted earnings per share because certain information needed to
make a reasonable forward looking estimate of GAAP diluted earnings per share for
Q1 2012 (other than estimated stock compensation expense of $0.09 per diluted
share, certain tax items of $0.06 per diluted share, estimated acquisition
related expense of $0.04 per diluted share and estimated deferred executive
compensation expense and restructuring and other charges with a de minimis impact
per diluted share) is difficult to predict and estimate and is often dependent on
future events which may be uncertain or outside of our control. Such events may
include unanticipated gains and losses on retirement of convertible debt,
unanticipated one time charges related to asset impairments (fixed assets,
intangibles or goodwill), unanticipated acquisition related costs, unanticipated
litigation settlement gains and losses and other unanticipated non-recurring
items not reflective of ongoing operations. We believe the probable significance
of these unknown items, in aggregate, to be in the range of $0.00 to $0.05 in
quarterly earnings per diluted share on a GAAP basis. Our forward looking
estimates of both GAAP and non-GAAP measures of our financial performance may
differ materially from our actual results and should not be relied upon as
statements of fact.
[a] These charges represent expense recognized in accordance with ASC
718 - Compensation, Stock Compensation.
Approximately $2.2 million, $5.0 million and $8.4 million were
included in cost of goods sold, research and development expense
and selling, general and administrative expense, respectively, for
the three months ended September 30, 2011.
Approximately $7.6 million, $18.1 million and $32.6 million were
included in cost of goods sold, research and development expense
and selling, general and administrative expense, respectively, for
the fiscal year ended September 30, 2011.
For the three months ended October 1, 2010, approximately $1.1
million, $1.9 million and $11.5 million were included in costs of
goods sold, research and development expense and selling, general
and administrative expense, respectively.
For the fiscal year ended October 1, 2010, approximately $3.9
million, $7.4 million and $29.4 million were included in costs of
goods sold, research and development expense and selling, general
and administrative expense, respectively.
The acquisition-related expense recognized during the three months
and fiscal year ended September 30, 2011 includes a $2.9 million
and $4.6 million charge, respectively, to cost of sales related to
the sale of acquired inventory. Also included in
acquisition-related expense is $2.6 million and $4.4 million,
respectively, in transaction costs associated with acquisitions
completed or contemplated during the three months and fiscal year
ended September 30, 2011.
[c] During the fiscal year ended September 30, 2011, the Company
recognized a $2.3 million charge related to the resolution of a
contractual dispute.
[d] During the fiscal year ended September 30, 2011, the Company
implemented a restructuring plan to reduce the headcount
associated with its acquisition of SiGe Semiconductor, Inc.
Approximately $0.9 million and $2.4 million in restructuring
related charges were recorded during the three months and fiscal
year ended September 30, 2011, respectively.
For the fiscal year ended October 1, 2010, the Company recorded a
$1.0 million credit to restructuring and other charges related to
the sale of an impaired long-lived asset.
[e] The net loss recorded during the fiscal year ended October 1, 2010
relates to a loss on the retirement of $32.6 million of the
Company's 1.25% convertible subordinated notes due on March 1,
2010 offset by a gain on the retirement of $20.4 million of the
Company's 1.50% convertible subordinated notes due on March 1,
2012.
[f] These charges represent the amortization expense recognized in
accordance with ASC 470-20. Approximately $0.3 million and $1.3
million, respectively, of amortization expense was recognized
during the three months and fiscal year ended September 30, 2011.
Approximately $0.3 million and $2.5 million, respectively, of
amortization expense was recognized during the three months and
fiscal year ended October 1, 2010.
[g] During the three months and fiscal year ended September 30, 2011,
these amounts primarily represent deferred tax expense not
affecting taxes payable and non-cash expense related to uncertain
tax positions.
During the three months and fiscal year ended October 1, 2010,
these amounts primarily represent the utilization of net operating
loss and research and development credit carryforwards.
SKYWORKS SOLUTIONS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
Sept. 30,Oct. 1,
(in thousands)20112010
----------------- -----------------
Assets
Current assets:
Cash and cash equivalents$410,799$459,385
Accounts receivable, net177,940175,232
Inventories198,183125,059
Prepaid expenses and other current assets29,41230,189
Property, plant and equipment, net251,365204,363
Goodwill and intangible assets, net749,849498,096
Other assets72,84171,728
------------------
Total assets$ 1,890,389$ 1,564,052
====== =============== =========
Liabilities and Equity
Current liabilities:
Credit facility$-$50,000
Convertible notes26,089-
Accounts payable115,290111,967
Accrued liabilities and other current liabilities105,71742,357
Long-term debt-24,743
Other long-term liabilities34,19818,389
Stockholders' equity1,609,0951,316,596
------------------
Total liabilities and equity$ 1,890,389$ 1,564,052
====== =============== =========
SOURCE: Skyworks Solutions, Inc.
Skyworks Solutions, Inc.
Media Relations:
Pilar Barrigas, 949-231-3061
Investor Relations:
Stephen Ferranti, 781-376-3056 |
