UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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FORM 10-Q

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[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
             SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2004

OR

[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from ________to _________

Commission file number 0-25699



PLX Technology, Inc.



|Delaware                                                       | 94-3008334                             
|-------------------------------------------------------------- | ---------------------------------------
|(State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification Number)

870 Maude Avenue
Sunnyvale, California     94085

(408) 774-9060







Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file reports), and (2) has been subject to such filing
requirements for the past 90 days. YES [ X ]      NO [   ]

Indicate by check mark whether the Registrant is an accelerated filer (as defined in
Rule 121(b)2 of the Securities Exchange Act of 1934). YES [ X ]
      NO [     ]

As of July 30, 2004, there were 26,105,803 shares of common stock, par value $0.001 per share, outstanding.







PLX Technology, Inc.

                                     Index To

                                    Report on Form 10-Q

                             For Quarter Ended June 30, 2004



|PART I.   FINANCIAL INFORMATION                                                                                               | Page No.
|----------------------------------------------------------------------------------------------------------------------------- | --------
|                                                                                                                              |         
|Item 1.   Financial Statements (Unaudited):                                                                                   |         
|                                                                                                                              |         
|Condensed Consolidated Balance Sheets at
         June 30, 2004 and December 31, 2003                                         | 3       
|                                                                                                                              |         
|Condensed Consolidated Statements of Operations for the three
          
         and six months ended June 30, 2004 and 2003 | 4       
|                                                                                                                              |         
|Condensed Consolidated Statements of Cash Flows for the six
          
         months ended June 30, 2004 and 2003           | 5       
|                                                                                                                              |         
|Notes to Condensed Consolidated Financial Statements                                                                          | 6       
|                                                                                                                              |         
|Item 2.   Management's Discussion and Analysis of Financial
                      Condition and Results of Operations         | 11      
|                                                                                                                              |         
|Item 3.   Quantitative and Qualitative Disclosures About Market Risk                                                          | 26      
|                                                                                                                              |         
|Item 4.   Controls and Procedures                                                                                             | 26      
|                                                                                                                              |         
|PART II.  OTHER INFORMATION                                                                                                   |         
|                                                                                                                              |         
|Item 2.   Changes In Securities and Use of Proceeds                                                                           | 26      
|                                                                                                                              |         
|Item 4.   Submission of Matters to a Vote of Security Holders                                                                 | 27      
|                                                                                                                              |         
|Item 6.   Exhibits and Reports on Form 8-K                                                                                    | 28      
|                                                                                                                              |         
|Signature                                                                                                                     | 29      

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PART I.   FINANCIAL INFORMATION

ITEM 1.    FINANCIAL STATEMENTS



PLX TECHNOLOGY,
INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)





`June 30,    December 31,
                                                         2004          2003 (1)
                                                     ------------  ------------
                                                      (unaudited)
ASSETS
Current assets:
  Cash and cash equivalents........................ $      6,710  $     10,955
  Short-term marketable securities.................       11,085        10,052
  Accounts receivable, net.........................        6,192         4,998
  Inventories......................................        3,487         1,893
  Income tax receivable............................           --            --
  Other current assets.............................        1,672         1,730
                                                     ------------  ------------
Total current assets...............................       29,146        29,628
Property and equipment, net........................       30,477        31,068
Long-term marketable securities....................       13,540         2,049
Goodwill...........................................       27,840        15,998
Other intangible assets............................        7,970         2,730
Other assets.......................................          277           330
                                                     ------------  ------------
Total assets.......................................      109,250  $     81,803
                                                     ============  ============
LIABILITIES
Current liabilities:
  Accounts payable................................. $      4,005  $      1,768
  Accrued compensation and benefits................        2,003         1,427
  Deferred revenues................................        1,290           991
  Accrued commissions..............................          354           368
  Other accrued expenses...........................        2,853         1,228
                                                     ------------  ------------
Total current liabilities..........................       10,505         5,782
                                                     ------------  ------------
STOCKHOLDERS' EQUITY
  Common stock, par value..........................           26            24
  Additional paid-in capital.......................      108,410        84,508
  Deferred compensation............................         (868)          (44)
  Notes receivable for employee stock purchases....           --           (70)
  Accumulated other comprehensive loss.............         (215)          (49)
  Accumulated deficit..............................       (8,608)       (8,348)
                                                     ------------  ------------
Total stockholders' equity.........................       98,745        76,021
                                                     ------------  ------------
Total liabilities and stockholders' equity......... $    109,250  $     81,803
                                                     ============  ============`



See accompanying notes to condensed consolidated financial statements.

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PLX TECHNOLOGY,
INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands, except per share amounts)



`Three Months Ended      Six Months Ended
                                                                            June 30,              June 30,
                                                                    --------------------  --------------------
                                                                    2004           2003   2004           2003
                                                                    ---------  ---------  ---------  ---------
Net revenues...................................................... $  14,016  $   8,660  $  25,658  $  17,163
Cost of revenues..................................................     4,925      2,518      8,154      5,033
                                                                    ---------  ---------  ---------  ---------
Gross margin......................................................     9,091      6,142     17,504     12,130
                                                                    ---------  ---------  ---------  ---------
Operating expenses:
  Research and development........................................     4,394      3,893      8,451      7,606
  Selling, general and administrative.............................     3,768      3,193      7,446      6,251
  In-process research and development.............................     1,123        875      1,123        875
  Amortization of purchased intangible assets.....................       442        204        739        337
                                                                    ---------  ---------  ---------  ---------
Total operating expenses..........................................     9,727      8,165     17,759     15,069
                                                                    ---------  ---------  ---------  ---------
Loss from operations..............................................      (636)    (2,023)      (255)    (2,939)
Interest income and other, net....................................        99        102        167        210
                                                                    ---------  ---------  ---------  ---------
Loss before provision (benefit) for income taxes..................      (537)    (1,921)       (88)    (2,729)
Provision (benefit) for income taxes..............................        --        (24)       172        (16)
                                                                    ---------  ---------  ---------  ---------
Net loss.......................................................... $    (537) $  (1,897) $    (260) $  (2,713)
                                                                    =========  =========  =========  =========

Basic and diluted net loss per share.............................. $   (0.02) $   (0.09) $   (0.01) $   (0.13)
                                                                    =========  =========  =========  =========
Shares used to compute basic and diluted per share amounts........    24,850     22,214     24,363     21,678
                                                                    =========  =========  =========  =========`

See accompanying notes to condensed consolidated financial statements.

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PLX TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)



`Six Months Ended
                                                                             June 30,
                                                                     --------------------
                                                                         2004       2003
                                                                     ---------  ---------
Cash flows from operating activities
Net loss........................................................... $    (260) $  (2,713)
  Adjustments to reconcile net loss to net cash
    provided by operating activities:
  Depreciation.....................................................     1,116      1,142
  Amortization of deferred compensation............................        46        825
  Amortization of other intangible assets..........................       739        337
  In process research and development..............................     1,123        875
  Other non-cash items.............................................        57         66
  Changes in operating assets and liabilities:
    Accounts receivable............................................       373     (1,359)
    Inventories....................................................    (1,100)      (997)
    Income tax receivable..........................................        --      3,635
    Other current assets...........................................        69        442
    Other assets...................................................        57        (73)
    Accounts payable...............................................     1,144        540
    Accrued compensation and benefits..............................       376        180
    Deferred revenues..............................................       298        314
    Other accrued expenses.........................................       719       (339)
                                                                     ---------  ---------
Net cash provided by operating activities..........................     4,757      2,875
                                                                     ---------  ---------
Investing Activities
Payment for the acquisition of HiNT, net of cash acquired..........        --       (704)
Cash acquired from the acquisition of NetChip......................     2,821         --
Purchases of marketable securities.................................   (15,751)    (5,000)
Sales and maturities of marketable securities......................     3,000      3,000
Purchases of property and equipment................................      (455)      (871)
                                                                     ---------  ---------
Net cash used in investing activities..............................   (10,385)    (3,575)
                                                                     ---------  ---------
Financing Activities
Proceeds from sales of common stock................................     1,314         24
Repurchases of common stock........................................        --       (922)
Repayment of stockholders notes receivable.........................        70         --
                                                                     ---------  ---------
Net cash provided by (used) in financing activities................     1,384       (898)
                                                                     ---------  ---------
Effect of exchange rate fluctuations on cash and cash equivalents..        (1)        (7)
                                                                     ---------  ---------
Decrease in cash and cash equivalents..............................    (4,245)    (1,605)
Cash and cash equivalents at beginning of year.....................    10,955      5,482
                                                                     ---------  ---------
Cash and cash equivalents at end of period......................... $   6,710  $   3,877
                                                                     =========  =========`

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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PLX TECHNOLOGY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.	Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements of PLX Technology, Inc. and its wholly-owned subsidiaries
(collectively, "PLX" or the "Company") as of June 30, 2004
and for the three and six-month periods ended June 30, 2004 and 2003 have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-Q and Article 10 of
Regulation S-X.  In the opinion of management, the unaudited condensed
consolidated financial statements include all adjustments (consisting only of
normal recurring accruals) that management considers necessary for a fair
presentation of the Company's financial position, operating results and cash
flows for the interim periods presented. Operating results and cash flows for
interim periods are not necessarily indicative of results for the entire year.

The unaudited condensed consolidated financial statements
include all of the accounts of the Company and those of its wholly owned
subsidiaries.  All intercompany accounts and transactions have been
eliminated.

This financial data should be read in conjunction with the
audited consolidated financial statements and notes thereto included in our
Annual Report on Form 10-K for the fiscal year ended December 31, 2003.

Use of Estimates

The preparation of financial statements in conformity
with accounting principles generally accepted in the United States requires
management to make estimates and assumptions that affect the amounts reported in
the financial statements and accompanying notes.  Actual results could differ
from those estimates and such differences may be material to the financial
statements.

Comprehensive Net Loss

The Company's comprehensive net loss for the three
and six months ended June 30, 2004 and June 30, 2003 was as follows (in
thousands):

`Three Months Ended     Six Months Ended
                                                           June 30,             June 30,
                                                   -------------------- --------------------
                                                       2004       2003      2004       2003
                                                   ---------  --------- ---------  ---------
Net loss.........................................      (537)    (1,897)     (260)    (2,713)
Unrealized loss on marketable securities, net....      (201)       (31)     (172)       (49)
Cumulative translation adjustments...............         4          3         6          8
                                                   ---------  --------- ---------  ---------
Comprehensive net loss...........................      (734)    (1,925)     (426)    (2,754)
                                                   =========  ========= =========  =========`

Recent Accounting Pronouncements

In January 2003, the FASB issued FASB
Interpretation No. 46 (FIN 46), "Consolidation of Variable Interest
Entities, an Interpretation of ARB No. 51", which requires companies to
consolidate certain types of variable interest entities.  A variable interest
entity is an entity that has inadequate invested equity at risk to meet expected
future losses, or whose holders of the equity investments lack any of the
following three characteristics:  (i) the ability to make the Company's
decisions about the entity's activities; (ii) the obligation to absorb the
entity's losses if they occur; (iii) the right to receive the entity's future
returns if they occur.     Adoption of this statement did not have a material
impact on the Company's financial position, results of operations or cash flows.

2.

The Company has elected to follow the intrinsic value
method under APB Opinion No. 25 and related interpretations in accounting for
its stock options and grants since the alternative fair market value accounting
provided for under Statement of Financial Accounting Standards (SFAS) No. 123
requires use of grant valuation models that were not developed for use in
valuing employee stock options and grants.  Using the intrinsic value method
under APB Opinion No. 25, if the exercise price of the Company's stock grants
and options equals the deemed fair value of the underlying stock on the date of
grant, no compensation expense is recognized.

If compensation expense for the Company's stock-based
compensation plans had been determined based on the fair value at the grant
dates for awards under those plans consistent with the method of SFAS No. 123,
then the Company's net loss per share would have been adjusted to the pro forma
amounts indicated below:

`Three Months Ended      Six Months Ended
                                                                   June 30,              June 30,
                                                           --------------------  --------------------
                                                               2004       2003       2004       2003
                                                           ---------  ---------  ---------  ---------
Net loss as reported..................................... $    (537) $  (1,897) $    (260) $  (2,713)
Add: Stock-based compensation included in reported
  net loss...............................................        28        368         46        825
Deduct: Stock-based compensation cost under SFAS 123.....    (1,681)    (1,163)    (2,879)    (3,049)
                                                           ---------  ---------  ---------  ---------
Pro forma net loss....................................... $  (2,190) $  (2,692) $  (3,093) $  (4,937)
                                                           =========  =========  =========  =========
Pro forma basic and diluted net loss per common share:
Pro forma shares used in the calculation of pro
  forma net loss per common share - basic and diluted....    24,850     22,214     24,363     21,678

Pro forma net loss per common share - basic and diluted.. $   (0.09) $   (0.12) $   (0.13) $   (0.23)
                                                           =========  =========  =========  =========
Reported net loss per common share - basic and diluted... $   (0.02) $   (0.09) $   (0.01) $   (0.13)
                                                           =========  =========  =========  =========`



3.

Inventories are valued at the lower
of cost (first-in, first-out method) or market (net realizable value).
Inventories were as follows (in thousands):



`June 30,    December 31,
                                 2004          2003
                             ------------  ------------
Work in process............ $        796  $        356
Finished goods.............        2,691         1,537
                             ------------  ------------
Total...................... $      3,487  $      1,893
                             ============  ============`

4.	Business Combination

On May 24, 2004, the Company
purchased NetChip Technology, Inc., a supplier of high-performance
semiconductors based on Universal Serial Bus (USB) and Peripheral Component
Interconnect (PCI) standards.
The aggregate purchase price, including acquisition costs, was $22.2
million, and was substantially all paid in the form of the Company's common
stock and options to purchase common stock. The Company acquired NetChip
Technology, Inc. in order to expand its position of strength in the market for
PCI, PCI-X and PCI Express interconnect chips to include the USB product line,
where NetChip offers an industry-leading product line offering high-performance
and low-power products for the USB 2.0 market.  NetChip also has PCI Express
products in development that complement the Company's PCI Express chips.



The financial results for the three months ended June 30,
2004 reflect the acquisition from the date the transaction was closed.



The purchase price of the NetChip Technology, Inc.
acquisition is summarized below (in thousands):



`Fair value of common stock issued............. $     21,405
Fair value of options assumed.................          315
Acquisition costs.............................          524
                                                ------------
Total consideration........................... $     22,244
                                                ============`

The Company issued an aggregate of 2,035,077 shares of its
common stock valued at $21.4 million.  The Company also assumed 126,419 stock
options with a total value of approximately $0.3 million.  The stock options
were valued using the Black-Scholes valuation model.  Additionally, the Company
incurred approximately $0.5 million in professional fees, including legal,
valuation and accounting fees related to the acquisition, which were included as
part of the purchase price consideration for this transaction.



PLX also recorded $0.9 million in deferred compensation on
the unvested options, assumed in connection with the acquisition of NetChip
Technology, Inc.  Deferred compensation is being amortized over the remaining
vesting periods of these assumed options, generally three years.



Additional consideration of the Company's common stock with a
maximum aggregate value of approximately $10 million may be paid out to the
former shareholders of NetChip Technology, Inc. in the event USB gross profits
meet certain milestones in the period ending approximately one year following
the close of the transaction.  Any additional consideration will become
additional goodwill in the period such additional consideration becomes
payable.



The allocation of the Company's purchase price to the
tangible and identifiable intangible assets acquired and liabilities assumed is
summarized below (in thousands).  The allocation was based on management's
assessment of the fair value of the identified assets and liabilities
assumed.



`Net tangible assets........................... $      3,144
In-process technology.........................        1,123
Goodwill and other intangible assets:
    Goodwill..................................       11,998
    Developed/Core Technology.................        3,594
    Customer Base.............................        2,385
                                                ------------
                                                     17,977
                                                ------------
Net assets acquired........................... $     22,244
                                                ============`

Net tangible assets acquired were comprised primarily of
cash, inventory, accounts receivables, accounts payables, and other accrued
liabilities.  The acquired in-process technology was written-off in the second
quarter of 2004.  The estimated weighted average useful life of the intangible
assets for the developed/core technology and customer base created as a result
of the acquisition of NetChip Technology, Inc. is approximately 6 and 3 years,
respectively.  Amortization of developed/core technology and customer base was
$62,000 and $83,000, respectively, for the three months ended June 30, 2004.



The $1.1 million allocation of the purchase price to the
acquired in-process technology was determined by identifying research projects
in areas for which technological feasibility had not been established and no
alternative future uses existed.  The Company acquired technology consisting of
PCI Express solutions.  The value was determined by estimating the expected cash
flows from the project once commercially viable, discounting the net cash flows
to their present value, and then applying a percentage of completion to the
calculated value as defined below.



Net Cash Flows.  The net cash flows from the
identified project utilized were based on estimates of revenues, cost of sales,
research and development costs, selling, general, and administrative costs, and
income taxes from the project.  These estimates were based on assumptions
mentioned below.  The research and development costs excluded costs to bring the
acquired in-process project to technological feasibility.  The estimated
revenues were based on management projections of the acquired in-process
project.



Discount Rate.  The discount rate used in the present
value calculation was derived from a weighted average cost of capital, adjusted
upward to reflect the additional risk inherent in the development life cycle,
including the useful life of the technology, profitability level of the
technology, and the uncertainty of technology advances that are known at the
date of the acquisition.  The cost of capital used in discounting the net cash
flows from acquired in-process technology was 30%.



Percentage of Completion.  Percentage of completion
was determined by using costs incurred by NetChip Technology, Inc. prior to the
acquisition date compared to the remaining research and development to be
completed to bring the project to technological feasibility.  As of the
acquisition date, the Company estimated the project was approximately 60%
complete.



The Company expects to complete the project within
approximately 6-9 months from the acquisition date.  However, development of
this project remains a significant risk to the Company due to the remaining
effort to achieve technical feasibility, integration of NetChip Technology, Inc.
into the Company, employee retention, rapidly changing customer markets and
significant competitive threats from numerous companies.  Failure to bring these
products to market in a timely manner could adversely impact sales and
profitability of the Company in the future.  Additionally, the value of the
intangible assets acquired may become impaired.



Unaudited Pro Forma Financial Results



On May 22, 2003, the Company purchased HiNT Corp.,



The unaudited pro forma financial information combines the
historical statements of operations of the Company, NetChip Technology, Inc.,
and HiNT Corp. for the three and six months ended June 30, 2004 and 2003 and
gives effect to the transactions, including the amortization of other intangible
assets and the amortization of deferred compensation, as if they occurred at the
beginning of each period presented.  The amount of the aggregate purchase price
allocated to purchased in-process research and development for each of the
transactions have been excluded from the pro forma information, as they are a
non-recurring item.



The unaudited pro forma information is presented for
illustrative purposes only and is not necessarily indicative of the operating
results that would have occurred if the transaction had been consummated at the
dates indicated, nor is it necessarily indicative of future operating results of
the combined companies and should not be construed as representative of these
amounts for any future periods (in thousands, except per share data).



`Three Months Ended      Six Months Ended
                                                         June 30,              June 30,
                                                 --------------------  --------------------
                                                     2004       2003       2004       2003
                                                 ---------  ---------  ---------  ---------
Net revenues................................... $  17,079  $  11,002  $  35,212  $  21,749
Net income (loss).............................. $      70  $  (1,293) $   1,082  $  (2,621)
Net income (loss) per share - basic ........... $    0.00  $   (0.05) $    0.04  $   (0.10)
Shared used to compute basic per share amounts.    26,035     25,928     25,973     26,047
Net income (loss) per share - diluted ......... $    0.00  $   (0.05) $    0.04  $   (0.10)
Shared used to compute diluted per share amount    27,864     25,928     27,585     26,047`

5.	Net Loss Per Share

The following table sets forth the computation of basic
and diluted net loss per share (in thousands, except per share data):

`Three Months Ended      Six Months Ended
                                                         June 30,              June 30,
                                                 --------------------  --------------------
                                                     2004       2003       2004       2003
                                                 ---------  ---------  ---------  ---------

Net loss....................................... $    (537) $  (1,897) $    (260) $  (2,713)
                                                 ========== ========== ========== ==========

Weighted average shares of common stock
   outstanding.................................    24,850     22,214     24,363     21,678
                                                 ========== ========== ========== ==========

Net loss per share - basic and diluted......... $   (0.02) $   (0.09) $   (0.01) $   (0.13)
                                                 ========== ========== ========== ==========`

As the Company incurred a loss for the three and six month
periods ended June 30, 2004 and 2003, the effect of dilutive securities,
totaling 4.7 million and 4.3 million equivalent shares, respectively, have been
excluded from the computation of diluted loss per share because the effect would
be anti-dilutive.



6.	Segments of an Enterprise and Related Information

``

The Company has one operating segment, the sale of
semiconductor devices. The Chief Executive Officer has been identified as the
Chief Operating Decision Maker (CODM) because he has final authority over
resource allocation decisions and performance assessment. The CODM does not
receive discrete financial information about individual components of the
Company's business.



Revenues by geographic region based on customer location were as follows (in
thousands):

`Three Months Ended      Six Months Ended
                                                         June 30,              June 30,
                                                 --------------------  --------------------
                                                     2004       2003       2004       2003
                                                 ---------  ---------  ---------  ---------
                                                 (unaudited)           (unaudited)
Revenues:
  United States................................ $   4,244  $   2,950  $   8,417  $   6,090
  Asia - excluding Taiwan and Singapore........     3,800      1,666      6,115      2,966
  Europe - excluding France....................     1,918      1,185      3,639      2,332
  Taiwan.......................................     1,699        850      2,942      1,573
  Singapore....................................     1,331        912      2,522      1,708
  France.......................................       586        649      1,000      1,579
  Americas - excluding United States...........       438        448      1,023        915
                                                 ---------  ---------  ---------  ---------
Total.......................................... $  14,016  $   8,660  $  25,658  $  17,163
                                                 =========  =========  =========  =========`

For the three months ended June 30, 2004 and 2003, 10% and
11%, respectively, of net revenues were derived from sales to the same
distributor.  For the six months ended June 30, 2004 and 2003, 11% and 10%,
respectively, of net revenues were derived from sales to the same distributor.
No other distributor or direct customer represented greater than 10% of net
revenues.



7.	Income Taxes

Income tax expense of $172,000 was recorded for the six
months ended June 30, 2004 compared to an income tax benefit of $16,000 for the
six months ended June 30, 2003.  Income tax expense for the six months ended
June 30, 2004 is primarily due to federal alternative minimum tax, miscellaneous
state income tax payable and foreign income taxes currently payable.  The
current expense differs from the expected provision derived by applying the
applicable U.S. federal statutory rate to the loss from operations primarily due
to nondeductible acquisition-related items.



Deferred tax assets are recognized when there is sufficient
evidence that it is more likely than not that such deferred tax assets will be
realized.  The Company has determined that such evidence does not currently
exist.  Therefore, a full valuation allowance has been established to reserve
the Company's net deferred tax assets.



1. the timing of significant orders, order cancellations and
reschedulings,
2. the loss of a significant customer(s),
3. our significant customers could lose market share that
may affect our business,
4. the availability of production capacity at the
fabrication facilities that manufacture our products,
5. our ability to develop, introduce and market new products
and technologies on a timely basis,
6. introduction of products and technologies by our
competitors,
7. shifts in our product mix toward lower margin
products,
8. changes in our pricing policies or those of our
competitors or suppliers, including decreases in unit average selling prices of
our products,
9. the availability and cost of materials to our
suppliers,
10. general economic conditions, and
11. political climate.
12. potentially dilutive issuances of equity
securities,
13. large acquisition-related write-offs,
14. the incurrence of debt and contingent liabilities or
amortization expenses related to other intangible assets,
15. difficulties in the assimilation of operations,
personnel, technologies, products and the information systems of the acquired
companies,
16. diversion of management's attention from other business
concerns,
17. risks of entering geographic and business markets in
which we have no or limited prior experience, and
18. potential loss of key employees of acquired
organizations.
19. the reduction, delay or cancellation of orders from one
or more of our significant customers;
20. the selection of competing products or in-house design by
one or more of our current customers;
21. the loss of one or more of our current customers;
or
22. a failure of one or more of our current customers to pay
our invoices.
23. difficulties in managing distributors,
24. difficulties in staffing and managing foreign subsidiary
and branch operations,
25. political and economic instability,
26. foreign currency exchange fluctuations,
27. difficulties in accounts receivable collections,
28. potentially adverse tax consequences,
29. timing and availability of export licenses,
30. changes in regulatory requirements, tariffs and other
barriers,
31. difficulties in obtaining governmental approvals for
telecommunications and other products, and
32. the burden of complying with complex foreign laws and
treaties.
33. Reports on Form 8-K
34. A report on Form 8-K was filed by the Company on May 25,
2004 relating to the acquisition of Net Chip Technology, Inc.
35. A report on Form 8-K was furnished by the Company on
April 15, 2004 relating to a press release announcing the Company's preliminary
earnings release for the quarter ended March 31, 2004.