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H.S. freshman Good
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New words:
accuracy, aforementioned, aging, artificial, ASU, authoritative, CODM, constituting, dedicated, deemed, deficiency, discovered, enact, entity, exact, FASB, fast, firm, Formalizing, guidance, incident, lapse, November, outlined, pace, reassessing, reconciliation, registered, remediate, remediated, remediation, repayment, restate, review, segment, slightly, statute, thereon, undetected, undue, unqualified, vesting
Removed:
Bluetooth, capitalized, circuit, communicated, comprised, concession, constraint, conversion, criteria, determined, discontinued, discount, disrupting, efficiency, entitled, Euro, extinguishment, factor, fixed, fractional, integrate, invoicing, irrevocably, Krone, MCU, notional, opted, original, placement, prepaid, promised, redemption, referred, rotation, settle, single, smallest, SoC, spread, Supplemental, temporarily, traded, transportation, trusted, unsatisfied, variable, warranty
Financial report summary
?Competition
Analog Devices • Reliability • Semtech • Texas Instruments • Maxim Integrated Products • Cypress Semiconductor • Qualcomm • Synaptics • ST Microelectronics - New York Shares • IDT Corp. - Ordinary SharesRisks
- We are subject to the cyclical nature of the semiconductor industry, which has been subject to significant fluctuations
- Competition within the numerous markets we target may reduce sales of our products and reduce our market share
- We may be the victim of business disruptions and security breaches, including cyber-attacks, which could lead to liability or could damage our reputation and financial results
- We may be subject to information technology failures that could damage our reputation, business operations and financial condition
- We have limited resources compared to some of our current and potential competitors and we may not be able to compete effectively and increase market share
- We may not be able to maintain our historical growth and may experience significant period-to-period fluctuations in our revenues and operating results, which may result in volatility in our stock price
- We rely on third parties to manufacture, assemble and test our products, which subjects us to risks of disruptions in our supply chain
- Most of our current manufacturers, assemblers, test service providers, distributors and customers are concentrated in the same geographic region, which increases the risk that a natural disaster, epidemic, labor strike, war or political unrest could disrupt our operations or sales
- Our inability to manage growth could materially and adversely affect our business
- Our research and development efforts are focused on a limited number of new technologies and products, and any delay in the development, or abandonment, of these technologies or products by industry participants, or their failure to achieve market acceptance, could compromise our competitive position
- We depend on our key personnel to manage our business effectively in a rapidly changing market, and if we are unable to retain our current personnel and hire additional personnel, our ability to develop and successfully market our products could be harmed
- If we are unable to develop or acquire new and enhanced products that achieve market acceptance in a timely manner, our operating results and competitive position could be harmed
- Any acquisitions we make could disrupt our business and harm our financial condition
- The average selling prices of our products could decrease rapidly which may negatively impact our revenues and gross profit
- Failure to manage our distribution channel relationships could impede our future growth
- We do not have long-term commitments from our customers
- We are subject to increased inventory risks and costs because we build our products based on forecasts provided by customers before receiving purchase orders for the products
- Public health crises could adversely affect our business, results of operations, and financial condition
- Our products are complex and may contain errors which could lead to liability, an increase in our costs and/or a reduction in our revenues
- Our customers require our products to undergo a lengthy and expensive qualification process without any assurance of product sales
- We are subject to risks relating to product concentration
- Any dispositions could harm our financial condition
- The semiconductor manufacturing process is highly complex and, from time to time, manufacturing yields may fall below our expectations, which could result in our inability to satisfy demand for our products in a timely manner and may decrease our gross profit due to higher unit costs
- We depend on our customers to support our products, and some of our customers offer competing products
- Changes in the privacy and data security/protection laws could have an adverse effect on our operations
- Our products must conform to industry standards and technology in order to be accepted by end users in our markets
- We have identified a material weakness in our internal control over financial reporting and if we are unable to implement and maintain effective internal control over financial reporting, or our independent registered public accounting firm is unable to provide an unqualified report thereon, we could be materially adversely effected
- Significant litigation over intellectual property in our industry may cause us to become involved in costly and lengthy litigation which could adversely affect our business
- We may be unable to protect our intellectual property, which would negatively affect our ability to compete
- Our products incorporate technology licensed from third parties
- Disruptions in the financial services industry could adversely affect our operations and financial condition
- We are subject to credit risks related to our accounts receivable
- Our debt could adversely affect our operations and financial condition
- We could seek to raise additional debt or equity capital in the future, but additional capital may not be available on terms acceptable to us, or at all
- Our stock price may be volatile
- Provisions in our charter documents and Delaware law could prevent, delay or impede a change in control of us and may reduce the market price of our common stock
Management Discussion
- Revenues. Revenues are generated predominately by sales of our products. Our revenues are subject to variation from period to period due to the volume of shipments made within a period, the mix of products we sell, and the prices we charge for our products.
- Cost of Revenues. Cost of revenues includes the cost of purchasing finished silicon wafers processed by independent foundries; costs associated with assembly, test and shipping of those products; costs of personnel and equipment associated with manufacturing support, logistics, and quality assurance; costs of software royalties, other intellectual property license costs, and certain acquired intangible assets; and an allocated portion of our occupancy costs. Our gross margin fluctuates depending on product mix, manufacturing yields, inventory valuation adjustments, average selling prices, and other factors.
- Research and Development. Research and development expense consists primarily of personnel-related expenses, including stock-based compensation, as well as new product masks, external consulting and services costs, equipment tooling, equipment depreciation, amortization of intangible assets, and an allocated portion of our occupancy costs. Research and development activities include the design of new products, refinement of existing products and design of test methodologies to ensure compliance with required specifications.