3Ware 2003 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2003 3Ware annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 83

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
All statements included or incorporated by reference in this report, other than statements or
characterizations of historical fact, are forward-looking statements. These forward-looking statements are made
as of the date of this report. Any statement that refers to an expectation, projection or other characterization of
future events or circumstances, including the underlying assumptions, is a forward-looking statement. We use
certain words and their derivatives such as “anticipate”, “believe”, “plan”, “expect”, “estimate”, “predict”,
“intend”, “may”, “will”, “should”, “could”, “future”, “potential”, and similar expressions in many of the forward-
looking statements. The forward-looking statements are based on our current expectations, estimates and
projections about our industry, management’s beliefs, and other assumptions made by us. These statements and
the expectations, estimates, projections, beliefs and other assumptions on which they are based are subject to
many risks and uncertainties and are inherently subject to change. We describe many of the risks and
uncertainties that we face in the “Risk Factors” section in Item 7 and elsewhere in this report. We update our
descriptions of the risks and uncertainties facing us in our periodic reports filed with the U.S. Securities and
Exchange Commission, known as the SEC, in which we report our financial condition and results for the quarter
and fiscal year to date. Our actual results and actual events could differ materially from those anticipated in any
forward-looking statement. Readers should not place undue reliance on any forward-looking statement.
PART I
Item 1. Business.
In this annual report on Form 10-K, “Applied Micro Circuits Corporation”, “AMCC”, the “Company”,
“we”, “us” and “our” refer to Applied Micro Circuits Corporation and all of our consolidated subsidiaries.
Applied Micro Circuits Corporation was incorporated and commenced operations in California in 1979.
AMCC was reincorporated in Delaware in 1987. Our principal executive offices are located at 6290 Sequence
Drive, San Diego, California 92121, and our phone number is 858-450-9333. Our Internet homepage is located at
www.amcc.com. The information that can be accessed on or through our Internet homepage is not intended to be
part of this report. Various documents concerning us that are electronically filed with or furnished to the SEC,
including our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K are
available, free of charge, on our Internet homepage. Our common stock trades on the Nasdaq National Market
under the symbol “AMCC”.
Overview
We design, develop, manufacture, and market high-performance, high-bandwidth silicon integrated circuits
empowering wide area networks. We utilize a combination of high-frequency analog, mixed-signal and digital
design expertise coupled with system-level knowledge and multiple silicon process technologies to offer
integrated circuit, or IC, products that enable the transport of voice, video and data over wide area networks. Our
customers include leading communications equipment manufacturers, or OEMs, such as Alcatel, Ciena, Cisco,
Fujitsu, Hitachi, Huawei, JDS Uniphase, Juniper, Lucent, Marconi, NEC, Nortel, Siemens, and Tellabs.
Our objective is to be the premier supplier of high-bandwidth silicon IC solutions for the world’s wide area
networks. Our strategy for achieving this objective includes:
• focusing on the market leading systems within wide area network markets, including the optical core,
metropolitan area networks and access networks, and
• providing time-to-market and development cost advantages to our customers by offering complete,
fiber-through-switch solutions, and integrated product functionality.
Our semiconductor products are used in a wide variety of communications equipment, including routers,
optical and digital cross connects, next-generation voice and media gateways, add/drop multiplexers, known by