PDF Solutions Inc. (NASDAQ:PDFS) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 05:00 pm ET


PDF Solutions Inc. (NASDAQ:PDFS) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the PDF Solutions, Inc. conference call to discuss the company's financial results for the second quarter ended June 30, 2020. [Operator Instructions] As a reminder, this conference is being recorded.

I will now turn the call over to Mr. Joe Diaz of Lytham Partners.

Joe Diaz

Thank you, Maria, and thanks all of you for participating on today's call. We appreciate your time and your ongoing interest in PDF Solutions. As the operator indicated, my name is Joe Diaz. I'm a Managing Partner at Lytham Partners. We are the Investor Relations consulting firm for PDF.

If you have not received a copy of today's press release, it is available at the company's website at www.pdf.com. Some of the statements made during the course of this conference call will be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding PDF's future financial results and performance, growth rates and demand for its solutions. PDF's actual results could differ materially. You should refer to the section entitled Risk Factors on PDF's annual report on Form 10-K for the fiscal year ended December 31, 2019, and similar disclosures in subsequent SEC filings. The forward-looking statements and risks stated on this conference call are based on information available to PDF today. The company assumes no obligation to update them.

Now I'd like to introduce Mr. John Kibarian, PDF Solutions' President and Chief Executive Officer, who will be followed by Mr. Adnan Raza, Executive Vice President and Chief Financial Officer. John, please proceed.

John K. Kibarian

Thank you for joining us on today's call. If you've not already seen our earnings press release, management report and 10-Q for the second quarter, please go to the Investors section of our website where each has been posted.

We hope you and your families are staying safe, and we appreciate you taking time to join us today. With the continued impact of COVID-19, I will start with an update on how we have adjusted the business given the present governmental restrictions, then I will provide a commentary on Q2 highlights. Many of you have probably seen our announcement about our partnership with Advantest. I will use some time today to provide more details and explain why we are excited about this development. I will conclude with our impressions of the semiconductor industry, before handing it over to Adnan for the financial update.

The COVID-19 situation remains very dynamic globally, and the health and safety of our employees continues to be a top priority. We have been fortunate that our employees remain healthy and able to maintain a high level of productivity. In the U.S., employees are mostly working from home. Our teams in Asia have been able to, for the most part, returned to the office and traveled for customer visits. In the EU, employees are primarily working from home, but our customers are returning to their offices. Towards the end of the third quarter, we will assess whether our