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Microsemi Corporation - Analyst/Investor Day

Stocks in this article: MSCC

And that's really been quite a change. And I think you're going to see today, we're going to demonstrate to you what we are focused on in some of the focus applications and where those growth drivers are.

So I'm not going to walk through the management team one by one. You know several of us. Not everyone on this slide is in the room today. But what I want to point out is that over the last 6 years, you've seen us more than double in revenue. I think something that's very important is from a management team perspective, driving a $200 million company versus driving a $1 billion company really targeting $3 billion really takes a different type of management team, and really need a much higher level of -- or a different level of expertise.

And so I think what I would add here is that we've been very intent on bringing on new management. You actually are going to see a lot of that management today, who's going to be up here representing a lot of these markets bases in detail that many of you have not seen from us before.

So where are we going? So 4 years ago, we targeted to be a $1 billion revenue company. We're on track to hit that. Two years ago, we kind of recognized that we were on track. We knew exactly what that path was and kind of sat down and said, Hey, we want to be a $3 billion revenue company.

And what does it take to get there, right? One of the things that was important, we recognized that the servable market that we had at that time, we are really hitting -- we were seeing this 30%, 35% market share. So in order to look out over the long term and see how to get to that $3 billion number is that we had to -- we really had to look at some new markets, right? We had to broaden ourselves, our technologies, our capabilities, our application focus, right? And so we recognized that communication is something that really fit who we were and the core competencies that we had, and solving tough problems where performance really matters, high barriers-to-entry. This all really made a lot of sense. And so we've really kind of doubled down on those efforts to grow that particular business.

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