Q1 2024 Soitec SA Corporate Sales Call Transcript
Hello, and welcome to the fiscal year 2024 First Quarter Revenue Conference Call. My name is Sharon, and I will be your coordinator for today's event. Please note this call is being recorded. (Operator Instructions) I will now hand you over to your host, Mr. Pierre Barnabe, CEO, to begin today's conference. Thank you.
Hello, everyone, and welcome to Soitec's conference call dedicated to the publication of the revenue for the first quarter of fiscal year 2024. This is a quarter covering the period from early April to the end of June 2023. I'm Pierre Barnabe, Soitec's CEO. Together with me on this call are Lea Alzingre, our CFO; and Steve Babureck, our SVP Strategy. As usual, we will start with a few comments on our figures. And after that, we will open the floor to questions. After record Q4 '23, our Q1 '24 revenue was down 23% year-on-year, in line with our expectations. As we commented in our previous disclosures, we expect the ongoing inventory corrections across the entire smartphone market supply chain to impact
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