Cabot Microelectronics Corporation (NASDAQ:CCMP) Q2 2018 Earnings Conference Call - Preliminary Transcript
Apr 26, 2018 • 10:00 am ET
As stated, we are raising our full fiscal year gross margin guidance to 51% to 53%.
We intend to continue to manage our operating costs to provide strong operating leverage and net income growth. We now expect our operating expenses for the full fiscal year to be between $148 million and $153 million, an increase from the prior range. This increase allows us to support additional revenue and primarily reflects higher incentive compensation and annual merit increases. Our effective tax rate for this fiscal quarter was 19.6%, and we continue to expect our effective tax rate for the remaining quarters to be between the range of 21% and 24%.
Our capital spending expectation for the full fiscal year remains between $18 million and $22 million. Now I'll turn the call back to the operator, as we prepare to take your questions.