Proxy Statement and 2002 Annual Report to Stockholders
This is the annual report of TriQuint Semiconductor that discusses about the proxy statement and financial report covering the information related to Board meeting, Mergers and gross profits etc. It explains about Triquint?s role in diversity of products and technical expertise that provides the critical link in the physical interface between the digital revolution and the growing global RF and optical network. The report states the purpose of the nominating and governance committee is to ensure that the board of directors is properly constituted to meet its fiduciary obligations to stockholders and follow appropriate governance standards. It explains the board recommendation for the proposal, compensation awarded to executives officers. It mergers with Sawtek Inc. that became a wholly owned subsidiary of Company. Additionally, outstanding options to purchase Sawtek common stock were exchanged for approximately 2.6 million options to purchase our common stock. The transaction was accounted for as a pooling-of-interests transaction and qualified as a tax-free exchange of shares. The revenues status decreased 20.2% to $267.3 million in 2002 from $335.0 million in 2001. The decrease in revenues was due to decreased. Gross profit decreased 30.3% to $95.1 million in 2002 from $136.4 million in 2001. As a percentage of revenue, gross profit margin decreased to 35.6% in 2002 compared to 40.7% in 2001. Impairment of long-lived assets and goodwill increased to $94.7 million in 2002 from $76.9 million in 2001.