Adaptec 2006 Annual Report Download - page 101
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Table of Contents
in 2006. This distribution does not change the Company’s intent to indefinitely reinvest undistributed earnings of the Company’s foreign subsidiaries and
accordingly, no additional provision for federal and state income taxes has been provided thereon. It is not practical to estimate the income tax liability that might
be incurred on the remittance of such earnings.
NOTE 16. Segment Information
The Company operates in one segment: networking products. The networking segment consists of internetworking semiconductor devices and related technical
service and support to equipment manufacturers for use in their communications and networking equipment.
Enterprise-wide information is provided below in accordance with SFAS 131. Geographic revenue information is based on the location of the customer invoiced.
Long-lived assets include property and equipment, goodwill and other intangible assets and other long-term assets. Geographic information about long-lived
assets is based on the physical location of the assets.
December 31,
(in thousands) 2006 2005 2004
Net revenues
United States $ 103,144 $ 98,619 $ 111,829
Asia -excluding China and Japan 99,903 51,020 63,239
Japan 79,009 40,790 35,530
China 63,797 54,324 39,030
Europe and Middle East 46,922 23,866 24,017
Other foreign 32,217 22,792 23,738
Total $ 424,992 $ 291,411 $ 297,383
Long-lived assets
Canada $ 16,749 $ 15,990 $ 12,019
United States 629,102 16,603 16,994
Other 1,072 175 78
Total $ 646,923 $ 32,768 $ 29,091
During 2006, the Company had four customers whose purchases represented a significant portion of net revenues, based on billing, including contract
manufacturers and distributors. Net revenues from one customer represented approximately 12% of net revenues in 2006, 14% in 2005, and 12% in 2004. Net
revenues from a second customer were 12% in 2006, 2005, and 2004. Net revenues from a third customer were 11% in 2006, 8% in 2005, and 12% in 2004.
During 2006, the Company had two end customers, Cisco Systems and EMC Corporation, whose purchases represented greater than 10% of our total net
revenues (2005 and 2004 – Cisco Systems).
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Source: PMC SIERRA INC, 10-K, March 01, 2007 Powered by Morningstar® Document Research℠