etron technology, inc. - emops.twse.com.tw
TRANSCRIPT
1Stanford University; National Taiwan University Chairman of Global
Semiconductor Alliance Fellow, Chinese Society for Management of
Technology Managing Board Director, TSIA & Association of
Industry in Science Park IEEE Fellow; IEEE 1998 Solid-State
Circuits Award Winner Manager, IBM Technology Products Group
Headquarters
Speakers Chairman & CEO Dr. Nicky Lu
President Dr. James Sung
Princeton University; National Chiao-Tung University Senior VP, Corporate Sales & Marketing, SMIC Senior Director, Technology Development, Vanguard Semi Advanced CMOS/BiCMOS R&D Technologist, AT&T Bell Labs
University of Florida; National Taiwan University Chief Strategy Officer, Arima Group President, CEO, Chairman, and Founder, IC Media Director of Engineering and Co-Founder, Neo Paradigm Labs Design Manager, IBM T.J. Watson Research Center
Safe Harbor Notice This following presentation contains forward-looking statements, which involve known and unknown risks and are subject to uncertainties that could cause actual performance, financial results, or operation conditions to be materially different from those contained in the forward-looking statements.
Except as required by law, we undertake no obligation to update any forward-looking statement, whether as result of new information, future events, or otherwise.
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
7,560 7,297 8,124
10,000 12,000 14,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ‘10
IC - 1991~199516Mb DRAM - 1996~2000 8Mb16Mb SGRAM* - 2001~2007KGDM*CEDRAM* - 2008~2010
DRAMUSB3.0 - 2011~
1991~2010 Etron’s CAGR 29% 1996~2010 Etron’s CAGR 15% (1996~2010 IC Industry’s CAGR 5%*)
*Source: WSTS (Nov. ’10)
Year*SGRAM: Synchronous Graphic Random Access Memory; KGDM: Know-Good- Die Memory; CEDRAM: Consumer Electronics Dynamic Random Access Memory
Heart-Touching ServicesHeart-Touching Devices
Experience-Based Communication Networks
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Etron Technology, Inc. (Ticker: 5351.TW) Fabless IC Design House since 1991 IPO in Taiwan Stock Market, 1998 Shareholder’s Equity: US$213M Assets: US$323M Employee: 491 Patents: USA 121; Total 273 Headquarters: Hsinchu Science Park Branch Offices & Liaison
- USA : Santa Clara, Boston - China : HK, Shanghai, Shenzhen - Japan : Tokyo
Pacific Pacific OceanOcean
Headquarters The Pioneer in Application-Driven Buffer Memory Business and Known-Good-Die Memory (KGDM) for 3D IC
- Ranked 9th DRAM Supplier Worldwide - Ranked 1st Fabless DRAM Supplier Worldwide
Leading USB3.0 Host Controller and Webcam Controller Supplier Worldwide
Product Portfolio: Intelligent Memory & Bridge Chips Customized Solutions including Software and Multi-Dimensional Die Stacking with Various Package Types (e.g. TSOP and BGA)
Classified Quality Grades Including Known-Good-Dies
- Pseudo SRAM - Low Power SRAM
- Wide-Bandwidth DDR I/II - Known-Good-Die DRAM - Enduring SDRAM - Low Power & Mobile DRAM
- USB3.0 Host Controller - Webcam Controller
SRAMSystem Chips
- Pseudo SRAMSRAM Embedded DRAMDRAM
Communications - Network - STB - Handheld
Computer - HDD - ODD - DVD - Printer 30%
35% 35%
2Gb
Developing Application Domain Knowledge in Design/Testing/Burn-in Optimization
Offer Field Service to Customers in Both Product Development and Production Phases
4Gb
Easy to Make Bare Die but Difficult to Guarantee Known- Good-Die Memory for Lifetime - High quality and reliability - Tailored services - Robust design
Etron: A Pioneer and Leader in KGD Memory
An Example of Etron’s KGDM Implementation
Main Chip DRAM
Main ChipMain Chip
DRAMsDRAMs++
Application Driven Buffer KGD Memory accelerates System- in-Package (SiP) transformation for the benefits of - Less noise and EMI radiation - Pin-count reduction : 216pins 144 pins - PCBA simplification : 4 layers 2 layers - ~30 less passive components in PCBA
Mastering Technologies for Robust Design Video, Audio and MultimediaVideo, Audio and MultimediaMobility and PortabilityMobility and Portability
Low Voltage 3.3V → 1.8V → 1.2V
Low Power 1mA → 0.001mA
High Speed 400MHz → 1066MHz, DDR I/II
High Density 16Mb → 512Mb → 1Gb
High Integration SOC → Multi-Chip Stack
Low Cost and High Quality / ProductivityLow Cost and High Quality / Productivity Advanced Process Technology DRAM: 0.11mm → 70nm → 63nm SRAM: 0.15mm → 0.11µm →70nm
Multiple Foundry Alliance DRAM, SRAM, Logic
Large Wafer Size 8 inch → 12 inch
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Why USB3.0? 10X Faster Speed than USB2.0
Song/Pic 256 Flash USB Flash SD-Movie USB Flash HD-Movie 4 MB 256 MB 1 GB 6 GB 16 GB 25 GB
USB 1.0 5.3 sec 5.7 min 22 min 2.2 hr 5.9 hr 9.3 hr USB 2.0 0.1 sec 8.5 sec 33 sec 3.3 min 8.9 min 13.9 min USB 3.0 0.01 sec 0.8 sec 3.3 sec 20 sec 53.3 sec 70 sec
Source: USB-IF
7280144Time needed to charge 1000mAh Li battery (min)
1,000 mA900 mA500 mACurrent provided USB 3.0 power-BUSB 3.0 normal USB 2.0
2X Higher Charging Current than USB2.0
Backward Compatible with USB2.0 and USB1.1
USB3.0 Everywhere
From 2009 External HDD
From 2010 PC PC Add-On Card Hub Pen Drive External SSD
From 2011 DSC Camcorder Blue Ray Player Media Player Monitor MFP
From 2012 Mobile Phone TV Set Top Box Game Console Web Cam
USB3.0 (Host+Device) Volume Grows >80% YoY 370M in 2011, 700M in 2012 and 1250M in 2013
USB3.0/2.0/1.1/1.0 Shipment Trend
Million Set
Source: DIGITIMES 2010/10
Presents the World’s Fastest Access Speed and Best Compatibility with Plug-in Devices Becomes the Largest USB3.0 Host Controller Provider for MB/PC in Taiwan Cooperates and Applies in Intel’s Latest Sandy Bridge Platform Provides Friendly Platform and Customer Service Due to Completely Self-Developed IP Technologies Not only Assists Domestic Companies in Developing New Computer Application Platform but Extends USB3.0 Application to Consumer Electronic Markets
Cutting Edge EJ168 USB 3.0 Host Controller
A Product Series of Webcam Controllers Contains Imaging Processor and USB Behind CMOS Sensors to Optimize Audio, Video and Image Performance and Quality eSP258 & eSP268 for PC Cam and NB Cam - Shipped more than 25 million units since 2009 - Provide the highest integrated solutions eSP568 Presents High Quality of Audio and Video Operation Based on a Single Chip Solution
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Amount: NT$M () 2010 2009 YoY Net Sales 8,124 100% 7,297 100% 11%
COGS (6,929) (85%) (6,088) (84%) 14%
Gross Profit 1,195 15% 1,209 16% (1%)
Operating Expense (1,079) (13%) (1,047) (14%) 3%
Operating Income 116 2% 162 2% (28%)
Non-Operating Income (Loss) 109 1% (68) (1%) --
Income Before Tax 225 3% 94 1% 139%
Income Tax Benefit (Expense) (24) (1%) (15) 0% 60%
Net Income 201 2% 79 1% 154%
Capital 4,435 4,174 6%
EPS (NT$) 0.47 0.19 147%
Income Statement of 2010
Highlights of 2010 Amount: NT$M () 2010 2009 YoY Net Sales 8,124 7,297 11% Gross Profit 1,195 1,209 (1%) Operating Income 116 162 (28%)
Shareholder’s Equities 6,386 5,896 8% BPS (NT$) 14.4 14.3
Income Before Tax 225 94 139% Net Income 201 79 154% EPS (NT$) 0.47 0.19 147% Total Assets 8,830 9,897 (11%) Total Liabilities 2,444 4,001 (39%)
Revenue by Month NT$M
525 19
USB(USB-IF) (CES)(2011.01)
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Heterogeneous Integration* (HI) is Happening New System Chip Architecture: mD-IC (multi-Dimensional Die Integration Chip); m= 2, 2.5, 3, 4…
Analog or Cache over SoC
RF or Power
e.g. Memory + Logic
Etron Proprietary & Copyright © 2007 All Rights Reserved, April 30
Stacked Die System Chip Needs Bare-Die Memory
Flash Memory Compact Flash
After T.H. Tong (ASE Corp.)
More HIs are Coming HI (mD-IC) Moore’s Law + 3D ICs + More than Moore + Novel Functions Created by Non-Silicon Contents - Inspire More Inventions & Innovations - Generate Higher Value - Create Diversified System Products
Analog or Cache over SoC
RF or Power
e.g. Memory + Logic
Like multiple dies
e.g. Taipei World Trade Center versus one-story range at Texas
Like single die
Killer Application I in IC Designer Dreams Voice Triggered Electronics with Sharp Speech Recognition
Real-Time Translator to Allow an Universal Communication even with Different Languages
Hello~
~
Killer Application II in IC Designer Dreams Body/Gestures Triggered Electronics with Prompt Interactions
Virtual Reality in Remote Touch, Play, and Shopping
Source: www.xbox.com/en-GB/kinect/
Key Driving Force for IC Industry Growth ’70s Technology (Circuits): Pioneer or System House
’80s Manufacturing & Automation: IDM*
’00s Diversified Applications: System Chip & Cluster Model
’10s Life Effectiveness: Ubiquitous Integration of Human- Machine-ICs
’20s Fusion of Heart-Touching System into Life, Body, and Community: Heterogeneous Integrated Design & Architect
*IDM means Integrated Device Manufacturer
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Thank You!
Safe Harbor Notice
USB1.1USB2.0 USB3.0
Why USB3.0?
USB3.0 Everywhere
USB3.0 (Host+Device) Volume Grows >80% YoY370M in 2011, 700M in 2012 and 1250M in 2013
A Product Series of Webcam Controllers
Income Statement of 2010
Speakers Chairman & CEO Dr. Nicky Lu
President Dr. James Sung
Princeton University; National Chiao-Tung University Senior VP, Corporate Sales & Marketing, SMIC Senior Director, Technology Development, Vanguard Semi Advanced CMOS/BiCMOS R&D Technologist, AT&T Bell Labs
University of Florida; National Taiwan University Chief Strategy Officer, Arima Group President, CEO, Chairman, and Founder, IC Media Director of Engineering and Co-Founder, Neo Paradigm Labs Design Manager, IBM T.J. Watson Research Center
Safe Harbor Notice This following presentation contains forward-looking statements, which involve known and unknown risks and are subject to uncertainties that could cause actual performance, financial results, or operation conditions to be materially different from those contained in the forward-looking statements.
Except as required by law, we undertake no obligation to update any forward-looking statement, whether as result of new information, future events, or otherwise.
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
7,560 7,297 8,124
10,000 12,000 14,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ‘10
IC - 1991~199516Mb DRAM - 1996~2000 8Mb16Mb SGRAM* - 2001~2007KGDM*CEDRAM* - 2008~2010
DRAMUSB3.0 - 2011~
1991~2010 Etron’s CAGR 29% 1996~2010 Etron’s CAGR 15% (1996~2010 IC Industry’s CAGR 5%*)
*Source: WSTS (Nov. ’10)
Year*SGRAM: Synchronous Graphic Random Access Memory; KGDM: Know-Good- Die Memory; CEDRAM: Consumer Electronics Dynamic Random Access Memory
Heart-Touching ServicesHeart-Touching Devices
Experience-Based Communication Networks
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Etron Technology, Inc. (Ticker: 5351.TW) Fabless IC Design House since 1991 IPO in Taiwan Stock Market, 1998 Shareholder’s Equity: US$213M Assets: US$323M Employee: 491 Patents: USA 121; Total 273 Headquarters: Hsinchu Science Park Branch Offices & Liaison
- USA : Santa Clara, Boston - China : HK, Shanghai, Shenzhen - Japan : Tokyo
Pacific Pacific OceanOcean
Headquarters The Pioneer in Application-Driven Buffer Memory Business and Known-Good-Die Memory (KGDM) for 3D IC
- Ranked 9th DRAM Supplier Worldwide - Ranked 1st Fabless DRAM Supplier Worldwide
Leading USB3.0 Host Controller and Webcam Controller Supplier Worldwide
Product Portfolio: Intelligent Memory & Bridge Chips Customized Solutions including Software and Multi-Dimensional Die Stacking with Various Package Types (e.g. TSOP and BGA)
Classified Quality Grades Including Known-Good-Dies
- Pseudo SRAM - Low Power SRAM
- Wide-Bandwidth DDR I/II - Known-Good-Die DRAM - Enduring SDRAM - Low Power & Mobile DRAM
- USB3.0 Host Controller - Webcam Controller
SRAMSystem Chips
- Pseudo SRAMSRAM Embedded DRAMDRAM
Communications - Network - STB - Handheld
Computer - HDD - ODD - DVD - Printer 30%
35% 35%
2Gb
Developing Application Domain Knowledge in Design/Testing/Burn-in Optimization
Offer Field Service to Customers in Both Product Development and Production Phases
4Gb
Easy to Make Bare Die but Difficult to Guarantee Known- Good-Die Memory for Lifetime - High quality and reliability - Tailored services - Robust design
Etron: A Pioneer and Leader in KGD Memory
An Example of Etron’s KGDM Implementation
Main Chip DRAM
Main ChipMain Chip
DRAMsDRAMs++
Application Driven Buffer KGD Memory accelerates System- in-Package (SiP) transformation for the benefits of - Less noise and EMI radiation - Pin-count reduction : 216pins 144 pins - PCBA simplification : 4 layers 2 layers - ~30 less passive components in PCBA
Mastering Technologies for Robust Design Video, Audio and MultimediaVideo, Audio and MultimediaMobility and PortabilityMobility and Portability
Low Voltage 3.3V → 1.8V → 1.2V
Low Power 1mA → 0.001mA
High Speed 400MHz → 1066MHz, DDR I/II
High Density 16Mb → 512Mb → 1Gb
High Integration SOC → Multi-Chip Stack
Low Cost and High Quality / ProductivityLow Cost and High Quality / Productivity Advanced Process Technology DRAM: 0.11mm → 70nm → 63nm SRAM: 0.15mm → 0.11µm →70nm
Multiple Foundry Alliance DRAM, SRAM, Logic
Large Wafer Size 8 inch → 12 inch
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Why USB3.0? 10X Faster Speed than USB2.0
Song/Pic 256 Flash USB Flash SD-Movie USB Flash HD-Movie 4 MB 256 MB 1 GB 6 GB 16 GB 25 GB
USB 1.0 5.3 sec 5.7 min 22 min 2.2 hr 5.9 hr 9.3 hr USB 2.0 0.1 sec 8.5 sec 33 sec 3.3 min 8.9 min 13.9 min USB 3.0 0.01 sec 0.8 sec 3.3 sec 20 sec 53.3 sec 70 sec
Source: USB-IF
7280144Time needed to charge 1000mAh Li battery (min)
1,000 mA900 mA500 mACurrent provided USB 3.0 power-BUSB 3.0 normal USB 2.0
2X Higher Charging Current than USB2.0
Backward Compatible with USB2.0 and USB1.1
USB3.0 Everywhere
From 2009 External HDD
From 2010 PC PC Add-On Card Hub Pen Drive External SSD
From 2011 DSC Camcorder Blue Ray Player Media Player Monitor MFP
From 2012 Mobile Phone TV Set Top Box Game Console Web Cam
USB3.0 (Host+Device) Volume Grows >80% YoY 370M in 2011, 700M in 2012 and 1250M in 2013
USB3.0/2.0/1.1/1.0 Shipment Trend
Million Set
Source: DIGITIMES 2010/10
Presents the World’s Fastest Access Speed and Best Compatibility with Plug-in Devices Becomes the Largest USB3.0 Host Controller Provider for MB/PC in Taiwan Cooperates and Applies in Intel’s Latest Sandy Bridge Platform Provides Friendly Platform and Customer Service Due to Completely Self-Developed IP Technologies Not only Assists Domestic Companies in Developing New Computer Application Platform but Extends USB3.0 Application to Consumer Electronic Markets
Cutting Edge EJ168 USB 3.0 Host Controller
A Product Series of Webcam Controllers Contains Imaging Processor and USB Behind CMOS Sensors to Optimize Audio, Video and Image Performance and Quality eSP258 & eSP268 for PC Cam and NB Cam - Shipped more than 25 million units since 2009 - Provide the highest integrated solutions eSP568 Presents High Quality of Audio and Video Operation Based on a Single Chip Solution
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Amount: NT$M () 2010 2009 YoY Net Sales 8,124 100% 7,297 100% 11%
COGS (6,929) (85%) (6,088) (84%) 14%
Gross Profit 1,195 15% 1,209 16% (1%)
Operating Expense (1,079) (13%) (1,047) (14%) 3%
Operating Income 116 2% 162 2% (28%)
Non-Operating Income (Loss) 109 1% (68) (1%) --
Income Before Tax 225 3% 94 1% 139%
Income Tax Benefit (Expense) (24) (1%) (15) 0% 60%
Net Income 201 2% 79 1% 154%
Capital 4,435 4,174 6%
EPS (NT$) 0.47 0.19 147%
Income Statement of 2010
Highlights of 2010 Amount: NT$M () 2010 2009 YoY Net Sales 8,124 7,297 11% Gross Profit 1,195 1,209 (1%) Operating Income 116 162 (28%)
Shareholder’s Equities 6,386 5,896 8% BPS (NT$) 14.4 14.3
Income Before Tax 225 94 139% Net Income 201 79 154% EPS (NT$) 0.47 0.19 147% Total Assets 8,830 9,897 (11%) Total Liabilities 2,444 4,001 (39%)
Revenue by Month NT$M
525 19
USB(USB-IF) (CES)(2011.01)
Corporate Milestone and Innovative Product Strategy via Experience Economy
Diversified Product Portfolio () - Buffer MemoryDRAM & KGDM - USB 3.0 Host Controller - Webcam Controller
Financial Status
Agenda
Heterogeneous Integration* (HI) is Happening New System Chip Architecture: mD-IC (multi-Dimensional Die Integration Chip); m= 2, 2.5, 3, 4…
Analog or Cache over SoC
RF or Power
e.g. Memory + Logic
Etron Proprietary & Copyright © 2007 All Rights Reserved, April 30
Stacked Die System Chip Needs Bare-Die Memory
Flash Memory Compact Flash
After T.H. Tong (ASE Corp.)
More HIs are Coming HI (mD-IC) Moore’s Law + 3D ICs + More than Moore + Novel Functions Created by Non-Silicon Contents - Inspire More Inventions & Innovations - Generate Higher Value - Create Diversified System Products
Analog or Cache over SoC
RF or Power
e.g. Memory + Logic
Like multiple dies
e.g. Taipei World Trade Center versus one-story range at Texas
Like single die
Killer Application I in IC Designer Dreams Voice Triggered Electronics with Sharp Speech Recognition
Real-Time Translator to Allow an Universal Communication even with Different Languages
Hello~
~
Killer Application II in IC Designer Dreams Body/Gestures Triggered Electronics with Prompt Interactions
Virtual Reality in Remote Touch, Play, and Shopping
Source: www.xbox.com/en-GB/kinect/
Key Driving Force for IC Industry Growth ’70s Technology (Circuits): Pioneer or System House
’80s Manufacturing & Automation: IDM*
’00s Diversified Applications: System Chip & Cluster Model
’10s Life Effectiveness: Ubiquitous Integration of Human- Machine-ICs
’20s Fusion of Heart-Touching System into Life, Body, and Community: Heterogeneous Integrated Design & Architect
*IDM means Integrated Device Manufacturer
Biological Processing is an Increasingly Important Analogy for Inspiring New Technologies
Buffer Memory & KGDM: Storing Experiences
Webcam Controllers: Capturing Experiences
Etron Product Synergy is Aligned with Experience-Driven Mindsets
Memory Logic
Thank You!
Safe Harbor Notice
USB1.1USB2.0 USB3.0
Why USB3.0?
USB3.0 Everywhere
USB3.0 (Host+Device) Volume Grows >80% YoY370M in 2011, 700M in 2012 and 1250M in 2013
A Product Series of Webcam Controllers
Income Statement of 2010