Reports a nickel better on a negligible revenue beat. Guides to down 17-20% – street is down 19%ish… so modestly better. Commentary perhaps more important – customers saying they’re seeing a bottom and feeling better about stability… but that they’re at significantly lower levels. Though this is a change from prior quarter commentaries that business was eroding and there was worldwide economic risk, it’s not exactly a shot across the bow of recovery.
Stock was up a buck on the # and has come back in to flat. Call still ongoing.