Listened, also read the transcript. Sounded pretty good. First I heard of what the procedural ruling in the PTI litigation amounted to. Sounds to me like what it amounted to was the judge telling PTI that they were going to lose, and they'd better make the most of a last chance at mediation. But I'm not a lawyer.
Sounds like management is pretty determined to run the company rather than liquidate entirely. They see a lot of opportunity in high value areas of the device business.
Probably the biggest development was that a lot of analysts asked questions. They hope to get information, which is a huge improvement from previous management. The promise by management to be "as open as they can be" sort of trapped them with a gap between $120MM of expected recurring revenue and $180-200MM of expected revenue--they can't say how much is an estimate of episodic revenue and how much is expected new streams of recurring revenue. And since Tessera has requested damages of $300MM in the PTI matter and over $120MM from Amkor, it looks pretty confusing.