Microsemi Corporation (NASDAQ:MSCC)
Deutsche Bank Technology Conference Transcript
September 13, 2017 12:00 PM ET
Steve Litchfield – Chief Strategy Officer
JiHyung Yoo – Deutsche Bank Securities
Right everybody. Let’s keep going with the next presentation. We have Microsemi up on stage with us. Steve Litchfield, who is the Chief Strategy Officer, will kick us off with some slides, then we will go into Q&A. So, Steve, why don’t you kick us off?
All right. Sounds good. Thanks for joining us. Apologies for being little bit late here. I will jump right in and get to the meat, the disclaimer. So, as you probably aware semiconductor company based in Orange County, California, did $1.65 billion revenue last, focused aerospace and defense, communications, data center and industry markets.
Really we are high performance, reliability really matter, that’s kind of that underlying thread of the places that we like to play. We are not really a consumer semi player. We are much more high performance areas, higher reliability, tough to do problems, that’s what we like to do.
Something on end market standpoint, so aerospace and defense is 25% of our business today, very good, nice growth coming from the aerospace/defense market, a little different than what we have seen over the last few years. And so finally starting to see some tailwind, we are expecting record revenues this year in our satellite business.
I have been very encouraging to see that finally pick back up and we really anticipate over kind of moving into 2018 with a lot of the international markets for defense. We will probably see record years in foreign military sales for international defense.
And then moving beyond now, I mean, the DOD budget expected, I mean, you have seen this in the media, they are asking for a 10% growth. In 2018, not approved yet, but I think the invitations are good, that it, even if it’s not a 10% grower that you are going to…