Pericom Semiconductor’s late-1990s growth came under leadership closely tied to the Hui family, but its revenue gains also reflected new products, stronger demand and a broader customer and distribution base. The company’s fiscal 1999 revenue reached $59.8 million, up from $49.2 million a year earlier. Diodes Incorporated later acquired Pericom, completing the deal in November 2015.
Was Pericom a family-run semiconductor company?
Family ties were prominent in Pericom’s leadership. In a 10 November 1999 account, EE Times reported that Alex Chi-Ming Hui was chairman, president and chief executive. His brother John Chi-Hung Hui, along with brothers-in-law Tay Thiam Song and Jeffrey Young, were being put forward as directors.
The company’s 1999 SEC filing also identified dependence on a small number of key individuals, including the Hui brothers, as a risk. That leadership structure is a reason the period was described as a family affair; it does not, by itself, establish that relatives controlled every aspect of the company.
How did Pericom grow in the late 1990s?
Revenue rose after a difficult fiscal 1997
Pericom made digital, analog and mixed-signal integrated circuits, including interface, digital/analog-switch, LAN-switch and video-switch products. Its reported revenue shows a decline followed by a recovery:
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| Fiscal year | Revenue | Change or context |
|---|---|---|
| 1995 | $22.7 million | Historical figure reported by EE Times in 1999. |
| 1997 | $33.2 million | Down 19.5% from $41.2 million in fiscal 1996, according to EE Times in 1999. |
| 1998 | $49.2 million | Historical figure reported by EE Times in 1999. |
| 1999 | $59.8 million | Up from fiscal 1998, according to EE Times in 1999. |
More products and stronger demand supported the rebound
After the fiscal 1997 setback, Pericom introduced dozens of products. It introduced more than 100 in fiscal 1999 and 20 in the quarter ended 30 September 1999, EE Times reported. Demand strengthened for interface, digital/analog-switch, LAN-switch and video-switch products as Internet and telecommunications activity grew.
Mark Downing, Pericom’s vice president of marketing, described lead times lengthening from two weeks to six weeks and then to 12 weeks amid the demand increase. He said demand was fairly uniform across product areas. These were comments reported in 1999, not a measure of current demand.
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The business became less dependent on PCs
Pericom’s historical market mix had been 75–80% PCs, 15% data communications and 10% multimedia. By the period described in 1999, the reported mix was 55% PCs, 35% data communications and telecommunications, and 10% multimedia. The figures are approximate category shares as reported at the time, so they should not be treated as a current product or market breakdown.
How did customer and distribution changes affect the business?
Pericom broadened its reach through distributors and reduced reliance on a small group of customers. The fiscal-year comparisons reported by EE Times in 1999 were:
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| Measure | Fiscal 1997 | Fiscal 1999 |
|---|---|---|
| Top five customers’ share of revenue | Almost 50% | 31% |
| Foreign sales as a share of revenue | 37% | 48% |
| Distribution sales as a share of revenue | 36% | 57% |
IBM and Harris were among the customers associated with the high top-five concentration in fiscal 1997. The growing distributor share helped Pericom reach markets including Asia-Pacific, Japan and Europe. These historical shifts reduced concentration in the reported figures, but do not show that customer or supplier risks disappeared.
What risks did Pericom face?
Alongside dependence on key individuals, the SEC filing discussed in the 1999 report identified reliance on outside foundries for 100% of Pericom’s silicon needs. Downing said the company had consistently relied on foundries and that foundries appreciated its status as a constant customer. His comment describes management’s view at the time; it does not remove the operational exposure of depending entirely on external manufacturing.
EE Times also reported that Pericom shares had fallen to about $4.50 during the semiconductor downturn and were at $19.25 at the close of trading on the preceding Tuesday, implying a market value of $186.3 million at that point in 1999. Those are historical market figures, not current prices or a present-day valuation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Who acquired Pericom?
Diodes Incorporated completed its acquisition of Pericom on 25 November 2015. Under the transaction, each Pericom share converted to $17.75 in cash. Diodes reported aggregate consideration of approximately $413 million, including equity awards. Pericom’s common stock stopped trading on Nasdaq after completion.
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Diodes said the acquisition expanded its analog business, added mixed-signal connectivity products and brought in Pericom’s timing product line. The transaction ended Pericom’s existence as a standalone Nasdaq-listed company; it is not evidence of a current standalone Pericom stock.
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