Adaptec 2002 Annual Report Download - page 2

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PART I
ITEM 1. Business
PMC−Sierra, Inc. designs, develops, markets and supports a broad range of high−performance integrated
circuits primarily used in the telecommunications and data networking industries. We have more than 120
different semiconductor devices that are sold to leading equipment manufacturers, who in turn supply their
equipment principally to communications network service providers and enterprises. We provide superior
semiconductor solutions for our customers by leveraging our intellectual property, design expertise and
systems knowledge across a broad range of applications.
PMC−Sierra was incorporated in the State of California in 1983 and reincorporated in the State of Delaware
in 1997. Our Common Stock trades on the Nasdaq National Market under the symbol "PMCS" and is included in
the S&P 500 index.
Our principal executive offices are located at 3975 Freedom Circle, Santa Clara, California 95054, and our
phone number is (408) 239−8000. Our internet homepage is located at www.pmc−sierra.com; however, the
information in, or that can be accessed through, our home page is not part of this report. Our annual
reports on Form 10−K, quarterly reports on Form 10−Q, current reports on Form 8−K, and amendments to such
reports are available, free of charge, on our Internet homepage as soon as reasonably practicable after we
electronically file such material with, or furnish it to, the Securities and Exchange Commission, or SEC.
Our fiscal year ends on the last Sunday of the calendar year. Fiscal years 2002 and 2001 each consisted of
52 weeks. Fiscal year 2000 consisted of 53 weeks. For ease of presentation, we have referred to December 31
as our fiscal year end for all years.
In this Annual Report on Form 10−K, "PMC−Sierra", "PMC", "the Company", "us",
"our" or "we", means PMC−Sierra, Inc. together with our subsidiary companies.
FORWARD−LOOKING STATEMENTS
This Annual Report and the portions of our Proxy Statement incorporated by reference into this Annual Report
contain forward−looking statements that involve risks and uncertainties. We use words such as "anticipates",
"believes", "plans", "expects", "future", "intends", "may", "will", "should", "estimates", "predicts",
"potential", "continue", "becoming", "transitioning" and similar expressions to identify such
forward−looking statements.
These forward−looking statements apply only as of the date of this Annual Report. We undertake no obligation
to publicly update or revise any forward−looking statements, whether as a result of new information, future
events or otherwise. Our actual results could differ materially from those anticipated in these
forward−looking statements for many reasons, including the risks we face as described under "Factors That
You Should Consider Before Investing in PMC−Sierra" and elsewhere in this Annual Report. Investors are
cautioned not to place undue reliance on these forward−looking statements, which reflect management's
analysis only as of the date hereof. Such forward−looking statements include statements as to, among others:
o business strategy;
o sales, marketing and distribution;
o wafer fabrication capacity;
2