mannerisms

Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.

Fable: The Two Sick IC Companies Which Made A Healthy One

27 years ago there were a couple of sick companies. Although two sick semi companies don’t usually make a healthy one,  they merged to create a company which had annual sales of $850 million, annual losses of $200 million and debt of $650 million.

“Everyone was betting that within a couple of years, or sooner, we would go broke,” said the CEO.

Seven years later, after average annual growth of 17.6%, sales were $2.6 billion, profit was $362 million and debt was virtually zero.

Moral: You can make a silk purse out of a sow’s ear.

Tags: annual sales, IC Companies, sick companies

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2 Comments

  1. david manners
    July 18, 2014 12:57

    yes indeed Kiitos. Pasquale it was, a great Sicilian, a great CEO and a great man.

  2. kiitos
    July 18, 2014 12:43

    What a great Sicilian! Pasquale Pistorio was the name of the CEO.

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