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Our competitive advantage also comes from our incumbency. We have shipped over 10 million Fibre Channel adaptor pods during the last 16 years. And our solutions are very much software centric. So it is very sticky. So that incumbency and our IP portfolio will benefit us significantly when we forward to address the growing expansion market opportunity.The third thing is about execution. QLogic is very much focused on execution in delivering innovations and quality product to our customers and also we are very focused on execution to deliver a strong business in the financial model. So if you look at the financial model right, that we have the one of the best financial model in the tech industry and that we have been consistently delivering this financial model. So for the past twelve months ended October our revenue were just about $600 million and that we generated cash from operations over $200 million. We are very committed to shareholder value creation and that we have returned $1.7 billion cash to our shareholders through a stock buyback. So consistently we have been delivering the value to the bottom line. The last thing right this is really our market leadership position. We have been number one in the Fibre Channel market and we continue to gain market share for the past seven consecutive years. We also are the number one. We have a significant lead our competitor in the emerging Fibre Channel over Ethernet market. So we will talk more about our competitive positioning in the market place. And for some of you if you are not familiar with QLogic I have a few slides about our product and the customers. So a host products account for about 72% of our revenue. The host products that typically, they sit either in a server or in a storage unit. So it is very software-centric, the IP software stack is the critical part of our product. We have been shipping for past 16 years.
Some of the examples of our host of products that include the Fibre Channel adapters, the FCoE adapters, 10-gig Ethernet adapter. We also have an InfiniBand adapters.Networking product include our Fibre Channel switch product and also our InfiniBand switch product. Networking product is about 18% of our revenue. We also provide a silicon product for customers that, you know, they have a small volume or they want to put a silicon on their storage board. Silicon revenue is about 8% and most of the silicon product revenue actually are associated with our host of product. Next is our customers. We have a very OEM-centric model. Our major customers are the top OEMs in the server and the storage industry. On the server side, HP, Dell, IBM and Oracle, on the storage side we have EMC and NetApp. So the channel business is about 25%, but even that 25% channel business, some of them are really used for OEM demand fulfillment. So, overall the OEM business actually is larger than 75%. It’s very much OEM centric model. On the end customer side, QLogic provides a high performance I/O solutions for big enterprise critical applications. So, it’s not a surprising when you look at our customers. It’s AT&T, [Federal Express] we also provide a solution for a web giant like Amazon. On the InfiniBand side, our customers are typically government or university labs, oil and gas company. So those are our customer and the go-to market model. And now I want to just step back, to talk about the fundamental demand drivers for QLogic and technology and the product, the evolution of the data center. So most of the US company, right, really after major upgrade over data center was about a decade or 15 years ago. Since then the market and business condition have changed dramatically. There is a certain increased globalization, increased competition and also competitive pressure from everywhere. On the other side right there is explosion of device, the explosion for applications and also explosion for data. With all those changes they are everybody wants instant access to information. Business want the instant access to information and everyone else also want the same. So really on the technology side to meet those changes there are some major technology trends going on in the market place. Read the rest of this transcript for free on seekingalpha.com