Most of the 90s were spent developing innovative memory architectures and working with our customers in the compute and gaming industries. Around the 2000 timeframe when networking became very important the company started taking some of the skills and technologies that had been learned and developed, working on memory problems and applying those to other high speed interface issues because the network industry was booming at that point.Where we find ourselves today in early 2012 is we’re very focused on a l lot of the platforms obviously that are relevant now and that we believe are going to be relevant for several years to come, most notably, mobile platforms, what’s going on in servers and data centers connected to the overall mobility trend and a variety of consumer devices and of course solid state lighting. The company has changed a lot in the last few years as we’ve diversified from our roots and memory to include other kinds of semi-conductor technologies to lighting and display technology and last year we announced an acquisition of Cryptography Research here in San Francisco, getting us into the cryptography and security technology business. We also have other research efforts going on internally and if you’ve seen any of our commercials we’d like to say we are a company of inventors and we really are. We’re a little over 450 employees, a vast majority of whom are engineers and scientists working in all of these different fields. Our business model is licensing. So we try to aim to have technology that’s relevant solving problems for big and growing markets because obviously with a licensing business model you get a small slice of the overall market and so that’s really been a premise driving our diversification strategy. The more technologies we have that are relevant to these big and important markets, we believe that’s a great strategy to fuel our future growth as a company. Underpinning all our technologies of course is we believe it’s fundamentally important to have a solid IP position so that you have multiple ways to monetize your technology depending on how the market evolves. We ended last year with 1,400 issued patents and about another 1,100 in process.
So we’re continuing through our development efforts obviously to build a solid foundation for the future across all of our fields of focus. So that’s a quick summary.Joe Moore – Morgan Stanley Maybe if we could start with DRAM and then other semis and we’ll move to some of the new businesses if that works. So I think your 93% semiconductor revenue, give or take now. Can you talk about how much of that comes from DRAM and how much of that is sort of solutions oriented, licensing versus patent licensing? Sharon Holt Yes, so we don’t break down the semiconductor revenue and report it in that way. As you can imagine we have some very large DRAM licensees. Samsung and Elpida of course that I think, folks are generally aware of. Our solutions licenses, we talked about, at company level we gave some numbers last year Satish? Satish Rishi Yes, we said non-patents were about 14%. Sharon Holt Okay. Yes. And so one of our goals, I talked in my opening remarks about developing new technology. One of the things we’re aiming for as we invest more in new technologies is to bring somewhat of a balance between those two parts of our business, a little more balance between the revenues coming in from patent licenses versus solutions license. I think we believe that’s strategically important because that means your new technology is being adopted which obviously gives us a pipeline for the future. Joe Moore – Morgan Stanley Yes, on the DRAM side, are you still finding those opportunities? I know it’s been sort of an entrenched environment for solutions licensing? Read the rest of this transcript for free on seekingalpha.com