Pericom Semiconductor:
Enabling Serial Connectivity
(Nasdaq: PSEM)
Fiscal 3Q09 Earnings
Safe Harbor
This presentation will include remarks about future expectations, plans and prospects for Pericom
which constitute forward-looking statements for purposes of the safe-harbor provisions under
applicable federal securities laws. Such forward-looking statements include the statements in the slide
entitled ”Q4 FY09 Business Outlook”, which sets forth expected revenues, gross margin and other
financial results for the fiscal second quarter
Actual results may differ materially from our forward-looking statements, as a result of various
important risks and uncertainties, including unexpected softness in demand for our products, price
erosion for certain of our products, customer decisions to reduce inventory and other risks and
uncertainties which are detailed and may be reviewed in the Company’s filings with the SEC.
All forward-looking statements included in this presentation are made as of the date of this
presentation, and Pericom expressly disclaims any obligation to update the information provided in
this presentation, except as required by law.
We encourage you to review our most recent annual report on Form 10-K and our most recent
quarterly report on Form 10-Q filed with the SEC and, in particular the risk factor sections of those
filings.
2
Recent Earnings Overview
Quarterly:
Quarterly revenue of $24.4 M
Down 21% Q-to-Q and 41% vs. Q3 FY08
End market shipments as % of revenues
Computer at 38%, communication at 39%, consumer at 15%,
other 8%
Geographic distribution as % of revenues
US at 10%, Asia at 85%, Europe at 5%
Channel sales as % of revenues
Domestic distribution at 6%, foreign distribution at 53%,
contract manufacturers at 28%, OEMs at 13%
3
Recent Earnings Overview
Quarterly:
Gross margin of 35.5%
Q3 gross margin improved 63 bps sequentially, and down 205
bps vs. Q3 FY08
Operating expense of $9.4 M vs. $10.0 M last Q
Included stock base compensation expenses of $1.0M
Operating loss of $.7 M vs. $.7 M income last Q
Operating loss margin of 3.1%
Net income of $.3 M vs. $1.7 M last Q
Net profit margin of 1.0%
GAAP EPS of 1 cent vs. 7 cents last Q
Tax Rate of 66.6% for Q3. YTD Effective Tax Rate was 31.2%
4
Strong Balance Sheet
Cash & Investments $123M
Working Capital $132M
Total Assets $225M
Total Liabilities $18M
Shareholders’ Equity $207M
Book Value/Share $8.23
Cash & Investments/Share $4.87
Mar. 2009
5
Product Mix and Key Customers
Product mix as % of revenues
IC at 62%
Included analog switch at 20%, digital switch at 9%, silicon clocks
at 9%, connect at 20%, interface at 4%
FCP at 38%
Top five end customers: Dell, Cisco, HPQ, Huawei, Lenovo
Accounted for 31% of total revenue
One customer accounted for 12% of total revenue
6
New Products – 3QFY09
Signal Conditioning:
2 new ReDriverTM products supporting the SATA (Serial ATA) protocol
for Storage, including support for SATA2 6Gb/s applications.
Targets volume Notebook and Desktop PC, Server, and Storage
market segments.
Connectivity and Switching:
5 new switching and bridge products for USB, HDMI video, and Ethernet
serial protocol applications.
Targets volume PC graphics, Computing notebook, and Consumer GPS,
Digital Video, and ultra mobility ( cell phone) market segments.
Timing:
4 new products including advanced clock buffers and generators, and the
XP family of high frequency, very low jitter crystal oscillators (XO).
Targets volume Computing and Peripherals, Telecom GPON (Gigabit
Passive Optical Network) and Storage market segments
7
Q4 FY09 Business Outlook
Revenue in the range of $27.0 M to $30.0 M
Gross margin in the 32.0% to 34.0% range
Operating expenses in the range of $9.0 M to $9.5 M
Include stock-based compensation expenses of approximately
$1.0 M
Expenses in Q4 will be higher mainly due to fiscal year-end and
SOX compliance activities.
Other income of approximately $1.0 M
Tax rate of approximately 31.0%
8
Pericom Semiconductor:
Enabling Serial Connectivity
(Nasdaq: PSEM)
Fiscal 3Q09 Earnings
Q & A
