Adaptec 2008 Annual Report Download - page 3

PART I
ITEM 1. Business.
O VERVIEW
PMC-Sierra, Inc. (“PMC” or the “Company”) designs, develops, markets and supports semiconductor
solutions for the Enterprise Networking, Wide Area Network Infrastructure, and Access Network markets. The
Company offers worldwide technical and sales support through a network of offices in North America, Europe
and Asia. We have approximately 350 different semiconductor devices that are sold to leading equipment and
design manufacturers, who in turn supply their equipment principally to service providers, carriers and
enterprises globally. We provide semiconductor solutions for our customers by leveraging our intellectual
property, design expertise and systems knowledge across a broad range of applications and industry protocols.
PMC 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 Global Select Market under the symbol “PMCS”.
Our principal executive offices are located at 3975 Freedom Circle, Santa Clara, California 95054. Our
internet webpage is located at www.pmc-sierra.com; however, the information accessed on or through, our
webpage 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 webpage after we
electronically file or furnish such material with the Securities and Exchange Commission (“SEC”).
Our fiscal year normally ends on the last Sunday of the calendar year. Fiscal years 2008, 2007 and 2006
consisted of 52 weeks. In this Annual Report on Form 10-K, “PMC-Sierra”, “PMC”, “the Company”, “us”, “our”
or “we”, mean PMC-Sierra, Inc. together with our subsidiary companies.
F ORWARD -L OOKING S TATEMENTS
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”, “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 and our other filings with the
SEC. 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:
• business strategy;
• sales, marketing and distribution;
• wafer fabrication capacity;
• competition and pricing;
• critical accounting policies and estimates;
• customer product inventory levels, needs and order levels;
• demand for networking, storage and consumer equipment;
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