Embedded Standard Products . . . . . . Beyond Programmable Logic Fellow Shareholders Strategic Partnerships Product Leadership Our most important new product introduction in 2000 was the QuickSD family, a key part of our initiative to support emerging high-speed communications standards within the electronics industry. We also announced the revenues grew 119% during the year. Mature product revenues grew by 10% and now represent 62% of revenues, down from 75% in 1999. Net income for 2000 was $9.6 million, more than three times the $3.2 million earned in 1999.  As part of our strategic plan to support future production growth, we will invest $25 million in Tower Semiconductor. Under the agreement, QuickLogic will receive equity and committed production capacity in a new advanced wafer-fabrication facility. Revenues of $53.3 million were up 34% from $39.8 million in 1999. Revenue from ESP products grew 161% while new product We also announced a license agreement to integrate Conexant Systems, SkyRail transceivers into our next-generation ESPs for high-speed serial communications. These devices will benefit designers of 3G base stations, Storage Area Networks (SANs) and other communications and storage equipment. Fiscal 2000 was a year of growth for QuickLogic Corporation, both in financial performance and in the expansion of our company’s infrastructure. We achieved record financial results, with revenues of our programmable ESPs (Embedded Standard Products) up 161% and total revenues up 34% over 1999. Three new ESP product families were introduced; each targeted at a segment of the fastest-growing market in the electronics industry, communications.  During 2000, we joined forces with MIPS Technologies to develop a hardware- and software-programmable system platform, which combines a MIPS microprocessor, programmable logic and memory on a single piece of silicon. This product, targeted for release in the second half of 2001, will provide a powerful ESP solution for designers of communications equipment including DSL and cable modems, Internet routers and fiber optic telecommunications switches.  Financial Results Our largest single market segment in 2000 was data and telecommunications, which represented 42% of our overall business.