Operator: Good day, everyone and welcome to the SanDisk Corporation's Second Quarter 2013 Financial Results Conference. Today's conference is being recorded.
At this time, I would like to turn things over to Mr. Brendan Lahiff with Investor Relations. Please go ahead, sir.
Brendan Lahiff - IR: Thank you, and good afternoon. With me on the call today are Sanjay Mehrotra, President and CEO of SanDisk; Judy Bruner, Executive Vice President of Administration and CFO.
Before we begin, please note that any non-GAAP financial measures discussed during this call, as defined by the SEC and Regulation G will be reconciled to the most directly comparable GAAP financial measures. That reconciliation is now available along with supplemental schedules on our website at sandisk.com/ir.
Please note that non-GAAP to GAAP reconciliation tables for all applicable guidance will be posted on our website. This guidance is exclusive of any one-time transactions and does not reflect the effect of any acquisitions, divestitures or similar transactions that may be completed after July 17, 2013.
In addition, during our call today, we will make forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events including financial projections and future market conditions, is a forward-looking statement.
Actual results may differ materially from those expressed in these forward-looking statements. For more information, please refer to the Risk Factors discussed in the documents we file from time to time with the SEC, including our Annual Report on Form 10-K for fiscal 2012 and our subsequent quarterly reports on Form 10-Q. SanDisk assumes no obligation to update these forward-looking statements, which speak as of today.
With that, I will turn the call over to Sanjay.
Sanjay Mehrotra - Co-Founder, President and CEO: Thank you, Brendan, and good afternoon everyone. We are pleased to report record second quarter revenue and strong margin. We made excellent progress with our embedded mobile product portfolio with new design wins and our SSD business gained further momentum. We remained focused on strengthening our product portfolio and our execution in technology transitions remained outstanding. Our second quarter achievements have put the Company on a path to deliver a record 2013.
Our second quarter performance was driven by a strong growth in our mobile embedded products with iNAND and iNAND MCP posting the largest revenue gains during the quarter. Our embedded solutions team has made significant progress over the past year and their efforts to diversify our customer base with an expanded array of compelling solutions is bearing fruit.
Both smartphone and tablet adoption rates continue to be strong in the industry, with the industry analysts forecasting more than 900 million smartphones to ship in 2013. The tablet volume is expected to approach 200 million.
Further, China smartphone OEMs are becoming increasingly important in the global smartphone market, with analyst estimating the top China brands to ship more than 10% of smartphone volume this year. SanDisk has made significant inroads into this growing market with our iNAND and iNAND MCP offerings building further upon our strong presence with global smartphone OEMs.