David French Business Quotations

This transition away from magnetic storage will allow us to work toward a new business model, which includes improving our profitability rates over the next two years. Assuming a recovery in the semiconductor industry by early next year, we believe we can achieve our new business model targets by the end of next fiscal year.

These layoffs are difficult but appropriate to enable progress toward our improved business model and to enhance shareholder value.

The company has begun to deliver profitable year-over-year growth in our analog, mixed-signal and embedded products. We achieved 18 percent year-over-year growth in these product categories, we have a strong cash position, and the underlying fundamentals of the business are strong.