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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Kim who wrote (2913)	10/15/1999 12:48:00 PM
From: LJM	Read Replies (2) \| Respond to of 3818

For those that missed the CC yesterday, I'll take a stab at the key points except for the numbers which have already been posted in detail. For those that listened in, just skip over this post. 1> 419 design wins in Q3 versus 234 for all of 98 and 164 for all of 97. Design wins are accelerating, with 1700 potential wins available for Q4. The window to market is 2 years and he stated several times the best years are ahead of us. 2001 should see big growth. 2> Book-to-Bill is over 1.00. 3> 5-7 years of production is the average from a design win. 4> They are seeing an insatiable appetite for bandwidth chips with little inventory in the channel that they can tell. He stated there were no micro-inventory issues. Taiwan is a non-issue. TMSC is 100% operational currently and they scrapped only 10% of wafers. 4Q will see no financial effects from the earthquake. He stressed the benefit of fabless model allowing them to quickly move production elsewhere had TMSC not have been so quick to get back on line. 5> Competition continues to surface. He made mention of CNXT, TI and others, but that they are 2 years behind PMCS and will continue to lag behind in his opinon because: A. Talent necessary for their niche is a barrier to entry. (He mentioned they have exceptional talent in their niche and will continue to hire the best available for their specialties>>>He said this is a little more difficult for the larger companies like CNXT, TI etc. B. They will concentrate on improving time-to-market and execution while continuing to acquire key technology necessary to keep the competitive advantage and to fill gaps. One of the analyst asked>> if they could really improve the 2-year time window and he replyed "definitely" and that was a major goal they would accomplish. 6. Lastly, he estimated the silicon market to be roughly 20 billion in 2005 and he expects PMCS to have a big chunk of it emphasizing again the best years for PMCS are ahead. That's about all I had in my notes. For those who missed the call, I hope this helps on a rather "dull" day. LJM