Financial Data and Key Metrics Changes - The company reported Q4 revenue of $216 million, a 3% sequential increase but a 3% decline year-over-year [3][10] - Non-GAAP diluted EPS was $0.60 per share, exceeding guidance, while GAAP EPS attributable to shareholders was $1.07 per share, benefiting from a $16.8 million tax valuation allowance reversal [11][12] - Gross margin improved to 35%, and operating margin was 24%, both exceeding expectations [11] Business Line Data and Key Metrics Changes - Integrated Circuit (IC) revenue was $157 million, down 4% year-over-year, with high-end IC shipments reaching a record 42% of total IC revenue [10][8] - Flat Panel Display (FPD) revenue was $58 million, reflecting a 1% decline year-over-year due to order timing, but demand is expected to remain strong [11][8] Market Data and Key Metrics Changes - The high-end market remains strong, driven by investments in hyperscale data centers for AI, while the mainstream IC market is stabilizing after a period of softness [7][10] - The U.S. market showed particularly strong demand, validating the company's expansion initiatives [10][8] Company Strategy and Development Direction - The company is executing strategic geographic expansions at existing facilities to enhance revenue contributions and diversify geographic revenue mix [3][4] - Investments are aligned with two industry trends: advanced node migration and regionalization, with a focus on higher-end nodes in the U.S. and Korea [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing more high-end market share due to reshoring efforts in the U.S. and strong demand for trusted products [22][23] - The company anticipates fiscal Q1 revenue between $217 million and $225 million, with operating margins between 23% and 25% [15] Other Important Information - The company plans to invest approximately $330 million in CapEx for fiscal 2026, focusing on organic growth and strategic opportunities [13][12] - Cash and short-term investments increased to $588 million, including $422 million held in joint ventures [13] Q&A Session Summary Question: Market share relative to competitors - Management indicated that while a competitor has a larger market share in IC, both companies are about the same size when considering FPD, where the competitor does not participate [19][22] Question: Competitive environment and mainstream business - Management noted that the mainstream market in China is facing competition from local mask houses, but the company is focusing on high-value products and key customers to differentiate itself [24][29] Question: Outsourcing trends and pricing - Management observed an increase in outsourcing opportunities from captive mask makers, particularly for high-end products, which generally command higher ASPs [42][39] Question: Long-term planning discussions with customers - Management reported an increase in long-term planning discussions with customers, indicating improved sentiment and order planning [43][45] Question: Revenue potential from new capacity - Management expects revenue from the Allen, Texas facility to begin in the second half of fiscal 2026, with incremental revenue and profitability anticipated [34][35]