Pasquale Pistorio Quotations

Sequential and year-over-year gains were recorded in all major product groups and applications, reflecting primarily increases in unit volumes.

We continue to see strong order rates and extended lead times in virtually every product category and application served.

Industry analysts are currently forecasting the semiconductor industry to grow less than 10 percent in 2001. These projections assume difficult first and second quarters for the industry, reflecting uncertain global macroeconomic trends as well as broad-based inventory adjustments.

The market correction which began abruptly with a sharp inventory adjustment in the 2000 fourth quarter, is likely to continue through much of this year.