Ultra Clean Holdings Inc (NASDAQ:UCTT) Q1 2022 Earnings Conference Call April 27, 2022 4:45 PM ET
Company Participants
Rhonda Bennetto - SVP of IR
Jim Scholhamer - Chief Executive Officer
Sheri Savage - Chief Financial Officer
Conference Call Participants
Quinn Bolton - Needham & Co
Patrick Ho - Stifel
Christian Schwab - Craig-Hallum Capital Group
Hans Chung - D.A. Davidson
Rhonda Bennetto
Good afternoon, everyone, and thank you for joining us. With me today are Jim Scholhamer, Chief Executive Officer; and Sheri Savage, Chief Financial Officer. Jim will begin with some prepared remarks about the business, and Sheri will follow with the financial review, then we'll open up the call for questions.
Today's call contains forward-looking statements that are subject to risks and uncertainties. For more information, please refer to the Risk Factors section in our SEC filings. All forward-looking statements are based on estimates, projections and assumptions as of today, and we assume no obligation to update them after this call.
Discussion of our financial results will be presented on a non-GAAP basis. A reconciliation of GAAP to non-GAAP can be found in today's press release posted on our website.
And with that, I'd like to turn the call over to Jim. Jim?
Jim Scholhamer
Thanks, Rhonda, and thank you all for joining us today. I'm going to start by providing our thoughts on the current demand environment and why we believe 2022 will be another year of growth.
I'll follow that with a high-level review of our results, including some insights on current events affecting our business and the industry. After that, I'll turn the call over to Sheri for a financial review. Then we'll open up the call for questions.
Industry demand remains elevated with appetite for our products and services growing across all our end markets. Unlike historical semi market cycles, the acceleration of digital transformation in the past couple of years has dramatically increased the consumption of semiconductor content to the benefit of the entire manufacturing ecosystem.
Record multiyear capital spending plans are ramping to support industry megatrends such as 5G, artificial intelligence, electrical vehicles and high-performance computing. We will continue to execute on our long-term growth strategy by innovating and investing alongside our customers gaining share and further securing our leading position as their manufacturing partner of choice for years to come.
One of the primary reasons we continue to increase share with our current customers and attract new business is our relentless commitment to quality. Earlier this month, we were honored to receive the excellence and quality award from Applied Materials were consistently meeting and exceeding their expectations over the past year. I'm extremely proud of our team who successfully anticipated and delivered beyond our customers' needs.