Adaptec 2001 Annual Report Download - page 2

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2
PART I
ITEM 1. Business
PM C-Sierra, Inc. designs, develops, markets and supports high-performance semiconductor
netw orking solutions. Our mission is to provide superior high-speed internetw orking
semiconductor solutions to enable the restructuring of the global information infrastructure.
We are a leading supplier of high-performance integrated circuits, principally used by
equipment manufacturers in the telecommunications industry. We sell more than 100 different
products to the world’s leading equipment manufacturers, w ho in turn supply their equipment
to international and regional telecommunications service providers. Our products are deployed
in equipment that is used throughout the global network infrastructure. We diversify our
efforts across a broad range of applications leveraging our intellectual property and expertise in
communications technologies.
PM C-Sierra was incorporated in the State of California in 1983 and reincorporated in the State
of Delaw are in 1997. Our Common Stock trades on the Nasdaq National M arket under the
symbol "PM CS" and is included in the Nasdaq-100 and the S&P 500 indices.
Our fiscal year ends on the last Sunday of the calendar year. Fiscal years 2001 and 1999 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, “ PM C-Sierra” , “ PM C” , “ the Company” , “ us” , “ our” or
“ we” , includes PM C-Sierra, Inc. and all of our subsidiary companies.
FORWARD-LOOKIN G STATEM ENTS
This Annual Report and the portions of our Proxy Statement incorporated by reference into this
Annual Report contain forw ard-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” and similar expressions to identify
such forward-looking statements. These forw ard-looking statements include, but are not
limited to, statements under “ Management’s Discussion and Analysis of Financial Condition
and Results of Operations” .
These forw ard-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, w hether
as a result of new information, future events or otherw ise. In light of these risks, uncertainties,
and assumptions, the forward-looking events discussed in this report might not occur. Our
actual results could differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as described in this Annual Report
and readers 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: