Adaptec 2001 Annual Report Download - page 65

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65
The historical results of operations of the Company, Toucan, A ANetcom, Extreme, QED and
SwitchOn for the periods prior to the mergers were as follows:
Fiscal 1999
Acquisition of Abrizio, Inc.
In 1999, the Company acquired Abrizio, Inc., a fabless semiconductor company that specialized
in broadband switch chip fabrics used in core ATM switches, digital cross connects, and terabit
routers. Under the terms of the agreement, approximately 8,704,000 shares of common stock
were exchanged and options assumed to acquire Abrizio.
PM C-Sierra recorded merger-related transaction costs of $866,000 related to the acquisition of
Abrizio. These charges, w hich consisted primarily of investment banking and other
professional fees, have been included under costs of merger in the Consolidated Statements of
Operations for the year ended December 31, 1999.
The transaction was accounted for as a pooling of interests and accordingly, all prior periods
have been restated.
Nine Months
Ended Year Ended
September 30, December 31,
(in thousands) 2000 1999
Net revenues
PMC (including Abrizio) 411,046$ 262,477$
Toucan - 24
AANetcom 68 780
Extreme 50 -
QED 51,407 31,462
SwitchOn 461 1,025
Combined 463,032$ 295,768$
Net income (loss)
PMC (including Abrizio) 83,691$ 90,020$
Toucan (1,963) (221)
AANetcom (17,965) (6,210)
Extreme (11,327) (1,987)
QED (11,954) (7,163)
SwitchOn (9,038) (2,610)
Combined 31,444$ 71,829$