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Mitel Overview Mitel’s Business The business of Mitel is to deliver innovative solutions for the communications industry, ranging from specialty semiconductor components to turnkey enterprise systems, through exceptional employee practices focussed on the success of the company’s customers. Mitel Today • Two business areas: Systems & Semiconductor Semiconductor (43%) • Different characteristics • Both in communications Communications industry Systems (57%) Financial Highlights FY99 FY00 FY00 Q4 Revenue $1.3B $1.4B $373M Op. Income $83M $117M $58M Adj. Net Income $0.67 $1.01 $0.37 Gross Margin 46% 49% 53% R&D Expense 11% 11% 11% Fiscal 2000 was a GREAT year! Mitel Revenue Growth 1400 1200 1397 1000 1310 CDN$ 800 millions 600 400 881 576 696 200 0 1996 1997 1998 1999 2000 Global Presence Canada United States Sweden U.K France Germany China Japan Singapore Mexico Brazil Hong Kong Revenue by Geography Europe 32% US 45% Canada 8% Asia & other 15% • Mitel Communications Systems Significant market share in chosen markets • Known for open, distributed, scalable product families • Global distribution network • Shipped over 1 million lines in FY 1999 • Known for investment protection strategy • 25+ years voice experience • 4500 employees worldwide Revenue 800 700 600 500 400 300 200 100 0 759 475 1997 794 567 1998 1999 2000 Key Developments • DIVA/Ipera • Speak@Ease • Platinum VARS PBX Evolution in the IP Space Systems: Market Drivers Ahead Internet Convergence of voice and data transport Protocol (IP) in the enterprise around Internet Protocol (IP) Enterprise Wireless Emergence of complementary CPE wireless systems for seamless mobility Voice Recognition Acceptance of natural speech recognition for call routing & voice transactions Simplified Messaging Simplification of non-real-time communications through Unified Messaging Multimedia Applications Growth of IP-based interactive multimedia applications and services Mitel Semiconductor • A leader in specialized microelectronics for the communications and medical markets • Largest merchant semiconductor unit in Canada • Leading global supplier of specialty ICs • 3000+ customers in over 100 countries • 2300 Employees worldwide Revenue 700 600 500 400 558 300 200 100 221 603 315 0 1997 1998 1999 2000 Semiconductor Financials FY00 Q1 FY00 Q2 FY00 Q3 FY00 Q4 Revenue $125M $139M $163M $175M Op. Income $6M $17M $28M $42M Backlog $177M $209M $237M $253M • Major rebound in the business • Increasing design wins with global communications leaders, e.g. Cisco • More focused portfolio Key Developments • Voice-over-IP • Smart OSA • Bluetooth • TDM Switching • Digital TV Increasing Focus on Broadband Connectivity Semi: Market Drivers Ahead Growth of IP-based interactive multimedia applications and services Emergence of Wireless High-speed Communications : toward mobile multimedia Growth of Multiprotocol Data Connectivity -direct consequence of converged networks Voice-over-IP High-speed wireless Multi-protocol Networking Accelerated System-level Integration (SLI) in Communications (a.k.a System on a chip) Comms SLI Evolution to optical interconnect: the last frontier in broadband communications Optoelectronics Opportunities for Synergy Systems Semiconductor Internet Protocol (IP) Voice-over-IP Enterprise Wireless High-speed wireless Voice Recognition Multi-protocol Networking Simplified Messaging Communications SLI Multimedia Applications Optoelectronics More information: www.mitel.com