Revenue model: "Although we commenced operations in 1989, we recently have experienced a period of significant growth and expansion. Our revenue grew to $75.4 million for 2008 from $52.3 million for 2007. In addition, our operating expenses increased to $32.3 million for 2008 from $31.5 million for 2007. ......... As of December 31, 2008, we had shipped more than 33.8 million powerline communications ICs, including 26.0 million HomePlug-based ICs that have been integrated into adapters, set-top boxes and other commercial applications. We shipped over 11.9 million powerline communication ICs in 2008, a 55% increase over shipments of more than 7.7 million powerline communications ICs in 2007. Our HomePlug-based ICs represented approximately 96% of our revenue for the year ended December 31, 2008"
Customer concentration: "Our ICs are currently incorporated into products by over 50 OEMs, including devolo AG, Aztech Systems Ltd., NETGEAR Inc., LEA S.A.S., and H3C Technologies Co. Limited and used by more than 45 service providers, including Free, Dish Network, France Telecom SA, Telecom Italia and AT&T. In 2008, Free, a service provider, devolo AG, an OEM, and Lumax International Corporation, a distributor, accounted for approximately 21%, 19% and 10% of our revenue, respectively."
Wafer foundry: "We currently use two wafer foundry companies for our ICs. For our HomePlug-based ICs, we use United Microelectronics Corporation in Taiwan and Chartered Semiconductor Manufacturing, Ltd in Singapore. We have in production HomePlug-based ICs using 65 nanometer, 90 nanometer, 150 nanometer and 180 nanometer process geometries for wafer production. We also use Chartered Semiconductor Manufacturing, Ltd. and On Semiconductor in the U.S. for our command and control ICs, using 0.5 micron and 1.5 micron processes, respectively. We use complementary metal oxide semiconductor (CMOS) manufacturing process technology for our ICs."
Assembly and test: "The assembly and testing of our products are performed by multiple principal subcontractors, which are Orient Semiconductor Electronics Ltd. (OSE) in Taiwan, Signetics in the Republic of Korea, Integra Technologies LLC in the U.S., ON Semiconductor in the Philippines and Advanced Semiconductor Engineering, Inc. in Taiwan. "
Employees: "As of December 31, 2008, we employed 128 full-time employees, including 64 in research and development, 35 in sales and marketing, 8 in operations and 21 in general and administration."