Adaptec 2009 Annual Report Download - page 3

Annual Report
PART I
ITEM 1. BUSINESS.
O VERVIEW
PMC-Sierra, Inc. (“PMC” or the “Company”) designs, develops, markets and supports semiconductor
solutions for the Enterprise Infrastructure market and the Communications Infrastructure market. The Company
offers worldwide technical and sales support through a network of offices in North America, Europe and Asia.
We have approximately 400 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”). The public
may read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100F Street, NE.,
Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by
calling the SEC at 1-800-SEC-0330. The SEC maintains an Internet site at http://www.sec.gov that contains
reports, proxy and information statements, and other information regarding issuers that file electronically with
the SEC.
Our fiscal year normally ends on the last Sunday of the calendar year. Fiscal years 2009, 2008 and 2007
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 on Form 10-K (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 “Item IA. Risk Factors” 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;
• business outlook;
• sales, marketing and distribution;
• wafer fabrication capacity;
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