And, in each of those at some level, they’re very similar in that. We are again developing the semiconductor solutions that actually direct of that content and direct that digital content. So, although the markets are somewhat different, the sort of engineering underpinnings are very similar.As a company, we were founded in 1984.We went public in 1991.We have our headquarters in Silicon Valley, in Sunnyvale. About 1,500 employees worldwide and our 2011 revenues were $654 million. So in terms of those market storage, for 2011, storage for about 60% of the revenue of the company. Optical, which again is made up of both fiber-to-the-home or PON, if you as well as metro switching technologies is about 25% of the company’s revenue. And the mobile, which again is backhaul type predominantly underpinned by our network processors that came to us through our acquisition of Wintegra is about 15% of the company’s revenues. We’re well positioned to capitalize on some of these mega trends that I think you’re all familiar with, with everything being digitized and being brought on and off the edge of the network with these wireless devices we’re using as well as wired solutions, where our franchise player in that market we’ve been there, quite a long time certainly on the Comm IC is where the Company was founded. But even in storage we’ve been there a significant player of six plus years. And strong financial performance, I mentioned the revenue. We’ve grown about 2.5 times as the industry in general over the course of the last sort of five or six years. We have an operating target of 25% to 30% operating profit. We’ve been in that range, often we don’t happen to be in it in Q1, but we believe we can get back there by the end of the year.
Gross margins in the high 60s to 70% range. We suggest that we thought we could [even get] up into above that 71%, 72% by the end of the year. So, we think a solidly managed company and well positioned to take advantage of these sort of mega trends that are out there in terms of being able to help the world sort of move digital information around.Harlan Sur – JPMorgan Great. Thanks for those opening remarks Mike. So, fundamentals for you in the industry, especially in the markets that you serve, storage, optical, and mobile, saw fairly weak demand trends in the second half of the year through the first quarter of this year. But the team at PMC saw bookings growth of 25% in the first quarter, book-to-bill is great than 1.1%, and I think you expect it to be back to kind of normalized revenue run rates by the fourth quarter of about $60 million, $70 million. I guess the first question, we’re asking just to all of our companies here, just to get a pulse of what’s happening in the near-term markets. But have you continue to see your bookings kind of continue to raise it higher as Q2 as unfolded here? Michael W. Zellner I would say that that it sort of unfolding as we’ve seen it and it has been strong. It hasn’t been ripping, I would say. But it’s definitely been strong into the right and we think healthy. In terms of the markets I would say we have probably most of our clarity in storage and that seems to be strong, robust in growing. In terms of mobile that is specifically the backhaul and backhauling of data into the metro, we’ve seen an up tick there as well. Generally speaking I would say, carrier spending has been a bit opaque, and so the fact that we got a bit of an up tick in mobile was encouraging. If you go from our first quarter actual revenue number of $132 million sort of the mid point of guidance of $140 million that $8 million increment is split roughly half between storage and mobile and of course mobile being a smaller piece of the business on a percentage basis, is higher there. Read the rest of this transcript for free on seekingalpha.com