BHE
#Thank you.
I think it would be flat to slightly up, overall.
And again, as you point out, we feel that that is strong given the current marketplace, but again we are not giving guidance for the full year.
But noting the overall environment and the soft demand environments that our customers see, growth from new products.
And it's a matter of trying to identify what your belief is about the longer-term macro environment.
And, again, I will point out that we have maintained customer relationships.
It's not the departure of a customer.
It's the departure of volume for customers that will drive whether, in the macro environment, that will drive whether that is substantial, moderate or no or slow growth in our core base of business.
Let me take it the other way and see if this helps answer.
If you go back a couple of years when we had a greater portion of our business associated with telco and computing, you would see a stronger boost in Q4 and then a fall off that was more substantial in Q1.
So, I believe, it was two years ago we saw about a 16% quarter-over-quarter decline.
Last year, it would've been like a 12% and this year it's about 8%.
So that's an all-in number for all of our business and all of our guidance.
It does have the seasonal impact in there.
It also has the shift in business.
It's what we see across our customer base which is, as you said, it's product; it's geography; it's customers.
So we don't see it isolated to a specific subsegment.
And I believe some of it, again, is probably timing related and some of it probably is related to geographic.
Yes, good morning <UNK>.
<UNK>, let me answer it this way.
I think if you look at our higher value versus our traditional side, as we stated in our comments, we believe the higher-value portion of our business will have about 10% growth.
Now flipping that over to your traditional side, the wild card in there is, how well is telco going to perform.
Certainly Q4 was the low point of the year; we are expecting further declines into Q1.
It's how fast do the new programs, that <UNK> alluded to earlier, do those ramp in the telco sector is really going to drive what 2016 looks like.
And <UNK>, one thing that I might add to what Don indicated, that, make no mistake, we don't see this through rose-colored glasses.
We don't see a different overall macro environment than what others see.
I truly believe that it's rough and rocky times out there across a lot of the markets we serve, if not all of them.
So the end-market softness and how that impacts us will be what it is.
But what we are excited about, and the positive tone you hear in our voice and hear in our comments, is that we feel probably better than ever, about what we're doing and the team and the actions we have in place to manage through this.
And once again, we are positioned for solid growth.
We have focused attack plans for each of our segments.
And importantly, we have diversified.
So we have behind us some of the challenges, that concentration or some of the technology that is not as leading edge may have in the marketplace.
Those are in the rear-view mirror, and that gives us a positive look going forward.
It will be modestly down for the quarter.
We finished at 50.9 million, probably 200,000 lower than that.
Well, first the rate is going to be driven by the geographic mix of where the profits are generated.
You couple that with the fact that we just added Secure which is exclusively in the United States.
That's going to have an increasing impact on the tax rate.
Okay.
All right, fair enough.
Thanks, folks.
Yes.
I think again, you see probably a mixture of both.
I don't think it's one-size-fits-all.
It really is based on the scenario that each OEM has in their own environment.
So, I would say, any of us in our industry would be wrong to say that we only see one or the other.
But clearly, what allows OEM to take fixed costs out of their model is to outsource.
And so, while there may be a stepping stone, where a number of OEMs may collect a certain amount of their manufacturing and bring it under one or a few operating units that exist, that's generally a stepping stone.
And if they have further, or additional needs, for improvement, then that's when they consider outsourcing.
So I don't ever consider it to be a final decision, but it may be a logical decision for some OEMs to take a step function improvement in consolidating some of their manufacturing.
We want to thank everyone for joining us on the call today and look forward to speaking with many of you with follow-up calls and appreciate your time.
Have a great day.
