Coherent Corp.

Good morning and welcome to Coherent's second quarter fiscal year 2020 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask your question, you may press star then one on your touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference Over to introduce Brett DiMarco, Executive Vice President and General Counsel. Please go ahead.

Thank you, Grant, and good afternoon, everyone. Welcome to today's conference call to discuss coherence results from its second fiscal quarter ended April 4th, 2020. All of us here at Coherent hope that you and your family are staying healthy and safe. On the call with me are Andy Mattis, our President and Chief Executive Officer, and Kevin Palatnik, our Executive Vice President and Chief Financial Officer. I would like to remind everyone that some information provided during this call may include forward-looking statements, including without limitation statements about coherent future events, anticipated financial results, business trends, global economic trends, and the expected timing and benefits, if any, of such trends. These forward-looking statements may contain such words as project, outlook, future, expect, will, anticipate, believes, intends, or referred to as guidance. These forward-looking statements reflect beliefs, estimates, and predictions as of today, May 27, 2020, and coherent expressly assumes no obligation to update any such forward-looking statement. These forward-looking statements are only predictions and are subject to substantial risks, uncertainties, and assumptions that are difficult to predict and may cause actual results Performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, risks associated with the recovery of global and regional economies from the negative effects of COVID-19 and related private and public sector measures, the impact of COVID-19 on our business, global demand, acceptance and adoption of our products, the worldwide demand for flat panel displays and adoption of OLED for mobile displays, The pricing and availability of OLED displays, the demand for and use of our products and commercial applications, our ability to generate sufficient cash to fund capital spending or debt repayment, our successful implementation of our customer design win, our and our customers' exposure to risks associated with worldwide economic conditions, our customers' ability to cancel long-term purchase orders, the ability of our customers to forecast their own end markets, Our ability to accurately forecast future periods Continue timely availability of products and materials from our suppliers Our ability to timely ship our products and our customers' ability to accept such shipments Our ability to have our customers qualify our products Worldwide government economic policies, including trade relations between the United States and China Our ability to integrate our acquisitions successfully Manage our expanded operations and achieve anticipated synergies For a detailed description of risks and uncertainties which could impact these forward-looking statements, you should review coherent periodic SEC filings, including its most recent Form 10-K, Form 10-Q, and Forms 8-K, including the risks identified in today's financial press release. I will now turn the call over to Andy Mattis, our President and Chief Executive Officer.

Thank you, Brett, and thank you to everyone for welcoming me to Coherent. I am still measuring my time here in weeks, and this marks my eighth week. Joining a company as a CEO during a time when the world is fighting a pandemic, and most of us are under stay-in-place orders is a truly unique experience and uncharted territory. Getting my arms around our company in a virtual world has made for long days, but it is amazingly productive and effective. I've spoken with most of our top 20 customers, visited many of our sites through virtual tours, connected with coherent top 100 managers, and have helped multiple virtual coffee talks with employees of all levels around the globe. I'm very energized by the customer feedback I received about the quality of our service, the performance of our product, and the high degree of collaboration that our customers value when they design process solutions with Coherent. I must admit I am extremely impressed with the talent The dedication and most of all the level of engagement that our colleagues around the world display in the new normal of working remotely. As a leadership team, we focus our energy during the last week around the health of our employees, the financial health of our company, and the health of our partnership with our customers and suppliers. We established a central nerve center, the COVID Steering Committee, or CSC, under the leadership of our newly appointed COO, Mark Sobey. All executives of the company video meet multiple times a week to stay on top of the ever-changing situation and safety protocols around the globe, to synchronize our actions and responses, to enable a stable supply chain and logistics, discussed inventories of critical parts and to meet desired customer delivery dates. For most of April and May, we have maintained manufacturing at approximately 85% to 90% of capacity while adhering to all social distancing rules. The CSC is now shifting its focus towards bringing our employees back to work safely, how to incorporate remote working into the new normal of our company, and how to accelerate best practice sharing around collaboration, flexibility, inclusion and accountability. Before I talk more about the road ahead of us, let me hand the mic over to Kevin to discuss our Q2 results and guidance.