Diodes Incorporated

Good afternoon and welcome to DIODE's incorporated third quarter 2023 financial results conference call. At this time, all participants are in a listen-only mode. At the conclusion of today's conference call, instructions will be given for the question and answer session. If anyone needs assistance at any time during the conference call, please press the star key followed by zero on your touchtone phone. As a reminder, this conference call is being recorded today, Wednesday, November 8, 2023. I would now like to turn the call over to Leanne Sievers of Shelton Group Investor Relations. Leanne, please go ahead.

Good afternoon, and welcome to DIOD's third quarter 2023 financial results conference call. I'm Leanne Sievers, president of Shelton Group, DIOD's investor relations firm. Joining us today from Taiwan are DIOD's chairman, president, and CEO, Dr. Kei-Shu Liu, Chief Operating Officer, Gary Yu, Chief Financial Officer, Brett Whitmire, Senior Vice President of Worldwide Sales and Marketing, Emily Yang, and Director of Investor Relations, Grameet Dhaliwal. I'd like to remind our listeners that the results announced today are preliminary as they are subject to the company finalizing its closing procedures and customary quarterly review by the company's independent registered public accounting firm. As such, these results are unaudited and subject to revision until the company files its Form 10-2 for its fiscal quarter ending September 30, 2023. In addition, management's prepared remarks contain forward-looking statements, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Action results may differ from those discussed today, and therefore we refer you to a more detailed discussion of the risks and uncertainties in the company's filings with the Securities and Exchange Commission including Forms 10-K and 10-Q. In addition, any projections as to the company's future performance represent management's estimates as of today, November 8, 2023. DOWS assumes no obligation to update these projections in the future as market conditions may or may not change, except to the extent required by applicable law. Additionally, the company's press release and management statements during this conference call will include discussions of certain measures and financial information in GAAP and non-GAAP terms. including the company's press release or definitions and reconciliations of GAAP to non-GAAP items, which provide additional details. Also, throughout the company's press release and management statements during this conference call, we refer to net income attributable to common stockholders as GAAP net income. For those of you unable to listen to the entire call at this time, a recording will be available via webcast for 90 days in the investor relations section of DIODE's website at www.diodes.com. And now I'll turn the call over to Dr. Luce. DIODE's Chairman, President, and CEO. Dr. Liu, please go ahead.

Thank you, Leanne. Welcome, everyone, and thank you for joining us today. As announced earlier today, our third quarter results defected weaker than expected in customer demand in the computing, consumer, and communication markets. as well as the overall Asian market. Our original assumption of a market recovery did not materialize throughout the quarter. However, our automotive polar revenue in the third quarter remained at a record 19% of revenue. contributing to our commanding automotive and industrial revenue mean 45% of revenue and above our target model of 40%. Although the current environment presented challenges for our business in near term, I believe we remain well-positioned for a return to growth as we continue to strive toward our next goal of $1 billion in gross profit. With that, let me turn it over to Gary, DIOS Chief Operating Officer, for some additional insights on the quote.