Given our excellent position in the communications and electronics markets and our strong backlog levels, we continue to feel comfortable with fourth quarter earnings per share of 39 cents.
Customers are making strides at reducing their inventories, but capacity is still far in excess of demand in some of our markets.
We're still comfortable with our current guidance of at least 20 percent revenue growth and a net margin of around 8 percent.
The results show that the actions we've been taking for many months to address capacity and parts issues have begun to pay off.
The (cost-cutting) measures to date have had a positive impact, but the business environment in our key industries continued to deteriorate this quarter.
These issues are going to be with us for the next few quarters.
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