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GENESIS MICROCHIP INC.
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To our Stockholders
It
is a privilege to lead Genesis® Microchip, a company that is at the forefront of a
dynamic shift in two large markets. Both the LCD monitor and flat-panel TV markets are undergoing
explosive growth that is expected to continue for the next several years. With the concurrent
growing demand for display image perfection in these markets, the opportunity for Genesis to
enhance stockholder value by delivering highly advanced display controller solutions is one that we
take very seriously. I am honored to be entrusted with the leadership of the company at this
critical time, and I am committed, along with the management team and the Board of Directors, to
grow Genesis and increase our stockholder value on a sustainable basis.
Genesis is the leading provider of display controllers to the flat-panel display markets. Our
products are optimized by award-winning image processing technology created and continuously
enhanced by an experienced and highly motivated workforce. These factors, combined with our design
momentum with leading TV and PC manufacturers, contributed to our success in fiscal year 2005 and
position Genesis for continued success in the future.
We delivered solid progress in both of our key markets during fiscal year 2005. We
successfully defended our number one position in LCD monitor controllers by introducing the
industry’s most highly integrated and advanced product family called Phoenix. The Phoenix products
have already achieved one of the fastest ramps of any new product in the company’s history. Our
track record for superior customer service and technology was reinforced when BenQ, one of our
largest customers and the world’s third largest manufacturer of LCD displays, selected Genesis as
“Innovative Supplier of the Year” on the basis of our industry-leading image quality, consistent
delivery and superior customer support.
We also grew our flat-panel TV controller revenue by 140% during the year, and we are
positioned for further growth with the introduction of our Cortez and Hudson video display
controllers. We strengthened our Digital TV product
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development. Our goal is to provide a truly differentiated Digital TV solution in combination
with our Faroudja® video processing technology — enabling the best image quality via a complete
analog and digital TV offering.
Looking forward, we are well-positioned to drive revenue and earnings growth in our fiscal
year 2006. According to industry research by DisplaySearch, LCD monitor shipments are expected to
grow more than 40% during calendar 2005, exceeding 100 million units. Flat-panel TV units,
including LCD, plasma, and projection TVs, are expected to exceed 25 million units worldwide in
calendar 2005. In particular, the market for LCD TV units is expected to double in 2005 to more
than 17 million units. We aim to deliver solid double-digit revenue and earnings growth, driven by
continued market acceptance of our industry-leading products. We believe these new products will
advance the company’s status as the market leader in delivering the best image quality for both the
LCD monitor and flat-panel TV markets.
With the industry’s most comprehensive technology and product offerings, outstanding customer
relationships and design win momentum, as well as a tremendously dedicated and talented employee
base, I am confident that we will continue to deliver superior image quality and the best level of
support to our customers. We are focused on bringing the highest image quality into the mass
consumer market. We are dedicated to translating our efforts and investments into increased and
long-term stockholder value. I appreciate your support and commitment as a Genesis stockholder.
/s/ Elias Antoun
Elias Antoun
President and Chief Executive Officer
Genesis Microchip Inc.
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