BNET Industries

Market Cap:$330.7M
Last Fiscal Year Sales:$167.4M
  • Public
  • US
Dow Jones Description

For your convenience, we have included, in Note 21 to the Consolidated Financial Statements, a Glossary that contains (1) a brief description of a few key acronyms commonly used in our industry that are used in this Annual Report and (2) a list of accounting rules and regulations that are also referred to herein. These acronyms and accounting rules and regulations are listed in alphabetical order. Overview We provide storage solutions that reliably move, manage, store and protect critical data and digital content. We deliver software and hardware components that provide reliable storage connectivity and advanced data protection to leading OEMs and through distribution channel partners. Our software and hardware products range from HBAs, RAID controllers, host RAID software, Adaptec RAID Code software, Advanced Data Protection software, Storage Management software, Snapshot software and other solutions that span SCSI, SAS, SATA and iSCSI interface technologies. Our Snap Servers offer NAS solutions for both fixed capacity and modular expandability. System integrators and white box suppliers build server and storage solutions based on Adaptec technology in order to deliver products with superior price and performance, data protection and interoperability. Our broad range of RAID controllers and add-in cards provide businesses with a variety of price and performance options for connecting their storage. ...

Interim Chief Executive OfficerD. Scott Mercer
Number of Employees 391
Contact Information

691 S Milpitas Blvd

Milpitas, California 95035

adaptec.com

(408) 945-8600

NAICS Code Other Computer Peripheral Equipment Manufacturing: 334119

Recent Events

  • Adaptec Introduces Controllers for On-Demand Cloud Computing Data Centers

    6/24/09 - Product Announcement - View Story

  • Adaptec Unveils Series 5Z RAID Controllers

    6/27/09 - Product Announcement - View Story

  • Adaptec Introduces Series 5Z RAID Controllers With First Maintenance Free, Flash-Based...

    6/24/09 - Product Announcement - View Story

  • Adaptec posts loss in Q4; non-GAAP profit declines; guides Q1

    5/08/09 - Financial Announcement - View Story

  • Former Snap Boss Named Overland CEO

    1/28/09 - Merger / Acquisition - View Story

News & Analysis

adaptec inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
D. Scott Mercer Interim Chief Executive Officer
Subramanian Sundaresh President & CEO
Robert N. Stephens President
Kenneth Arola Chief Accounting Officer & Vice President
Mary Dotz Chief Financial Officer
Tim Hanrahan CIO & Vice President, Information Services
Vicky Cotten Senior Vice President, Product Management
Anil Gupta Vice President & General Manager, Adaptec Storage Technology Products
John M. Westfield Vice President & Controller
John Noellert Vice President of Worldwide Sales
Kok Lim Vice President, Manufacturing
Lim Kok Yong Vice President of Global Operations
Marc Lowe Vice President
Mark Pollard Vice President, Marketing
Randy Printz Vice President, Operations
Russell Johnson Vice President of Worldwide Sales
Shirley Olerich Vice President of Human Resources and Facilities
Ted Chen Vice President of Worldwide Marketing
Vic Jipson Vice President, Systems Engineering
Bob Graham Founder
Ian Williams Director, Marketing
Mary Camarata Director, Corp Communications
Lou Owayni Senior Project Manager
Steve Paulhus Manager, Marketing
Lawrence Ruisi Consultant
Robert J. Loarie Director

Board of Directors

Name (plus bio) Position
Jack L. Howard Chairman
John Mutch Chair
Charles J. Robel Board of Directors
Douglas E. Van Houweling Board of Directors
Douglas E. Van Houwelling Board of Directors
Ilene H. Lang Board of Directors
Joe Kennedy Board of Directors
John J. Quicke Board of Directors
Jon Castor Board of Directors
Judith M. O'Brien Board of Directors
Lucie J. Fjeldstad Board of Directors
Suresh Panikar Board of Directors
Van Houweling Board of Directors
Organization Position Status
Conexant Korea, Ltd. Chairman and Chief Executive Officer Current
Adaptec, Inc. Interim Chief Executive Officer Current
Netratings, Inc. Board of Directors Current
Palm, Inc. Board of Directors Current
SMART Modular Technologies, Inc. Director Current
Polycom, Inc. Board of Directors Current
Western Digital Corporation Chief Financial Officer Former
Teralogic, LLC Chief Financial Officer Former
Western Digital Corporation Senior Vice President Former
Adaptec, Inc. Chairman of The Board Former
California Polytechnic State University B.S. In Accounting Former
Organization Position Status
Adaptec, Inc. President & CEO Current
Organization Position Status
Adaptec, Inc. President Current
Synaptix Systems, Inc. Chief Operating Officer Current
Synaptix Systems, Inc. Board of Directors Current
Finisar Corporation Board of Directors Current
Advanced Optical Components Director Current
Medusa Labs Director Current
Adaptec, Inc. Chief Executive Officer Former
Power-Io Chief Executive Officer Former
Emulex Corporation Chief Executive Officer Former
Emulex Corporation President Former
Western Digital Corporation President Former
Western Digital Corporation Senior Vice President Former
Western Digital Corporation General Manager Former
Power-Io Founder Former
Western Digital Corporation Founder Former
San Jose State University Master's Degrees Former
San Jose State University Bachelor's Former
Organization Position Status
Adaptec, Inc. Chief Accounting Officer & Vice President Current
University Corp. MBA Degree Former
University Corp. Bachelor of Science Degree Former

Mary Dotz joined Adaptec in 2008 as vice president and chief financial officer. She brings to Adaptec over 25 years of finance experience. Most recently, Mary Dotz was the CFO of Beceem Communications, a maker of WIMAX chipsets, where she successfully raised private investment capital and built the finance department. Prior to Beceem Communications, she served as chief financial officer at Pinnacle Systems where she helped lead the company in a successful merger with Avid Technologies. Previously, Ms. Dotz was with NVIDIA Corporation where she served as vice president of finance and interim chief financial officer. At NVIDIA, she built and managed the financial infrastructure supporting the company's growth to over $2 billion in annual revenue. She holds a B.S. in Business Administration from San Diego State University and an M.B.A. from the University of Southern California.

Organization Position Status
Adaptec, Inc. Chief Financial Officer Current
Beceem Communications Inc Chief Financial Officer Current
Pinnacle Systems Chief Financial Officer Former
NVIDIA Corporation Former
San Diego State University Bachelor of Science Degree In Business Administration Former
Organization Position Status
Adaptec, Inc. CIO & Vice President, Information Services Current
Organization Position Status
Adaptec, Inc. Senior Vice President, Product Management Current
Organization Position Status
Adaptec, Inc. Vice President & General Manager, Adaptec Storage Technology Products Current
Adaptec Mfg Pte Ltd Vice President & General Manager, Adaptec Storage Technology Products Former
Organization Position Status
Adaptec, Inc. Vice President & Controller Current

John Noellert is vice president of worldwide sales, responsible for developing, managing and driving global sales activities for Adaptec. This marks Mr. Noellert's return to Adaptec, where he had previously served as vice president of channel sales from 1991 to 1996. In a career that spans over 25 years, Mr. Noellert has held executive sales and marketing positions with a number of established and venture backed storage networking and systems technology companies including Brocade Communications Systems, Everex Systems, Intransa, Inc., and Compact Devices. Mr. Noellert also has an extensive channel background, holding executive positions at ComputerLand during their rapid growth years, and was named one of the 2007 CRN Channel Chiefs. He also possesses particular domain expertise in CRM deployment, sales force automation and sales training. Previously, Mr. Noellert was chief executive officer of Cornerstone Peripheral Technology, a leader in the design of document imaging displays and graphics controller cards.

Organization Position Status
Adaptec, Inc. Vice President of Worldwide Sales Current
Snap Appliance Vice President of Worldwide Sales Current
Organization Position Status
Adaptec, Inc. Vice President, Manufacturing Current
Organization Position Status
Adaptec, Inc. Vice President of Global Operations Current
Snap Server | Proven Storage Solutions Vice President of Global Operations Current
Conner Peripherals Operations Director Former
Organization Position Status
Snap Server | Proven Storage Solutions Vice President and General Manager Current
Snap Appliance Vice President Corporate Development Current
Adaptec, Inc. Vice President Current
Resolvity Corporation Board of Directors Current
Adaptec, Inc. General Manager Former
University of California, Los Angeles MBA Former
University of California, Davis BS Former
University of California, Davis Degree Former
Organization Position Status
Adaptec, Inc. Vice President, Marketing Current
Snap Appliance Vice President, Marketing & Business Development Former
Organization Position Status
Adaptec, Inc. Vice President, Operations Current
Organization Position Status
Snap Server | Proven Storage Solutions Vice President of Worldwide Sales Current
Adaptec, Inc. Vice President of Worldwide Sales Current
Adaptec, Inc. Account Director Former

Shirley Olerich is the vice president of human resources and facilities for Adaptec. Since being named to this position in 2000, she has developed exceptional people programs within each of the countries where Adaptec has employees. She specializes in acquisitions and divestitures, as well as strategic workforce planning. Ms. Olerich joined Adaptec in 1996 as its director of human resources consulting and staffing. Prior to joining Adaptec, Ms. Olerich held the position of director of human resources at Radius, Inc., and was a senior compensation analyst and human resources manager for the sales and marketing group at Tandem Computers (HP). Ms. Olerich graduated with honors and earned a master of science degree in Organizational Communication from Southern Illinois University, and holds a bachelor of arts degree in Mass Communication and Business Education from Eastern Illinois University. The YWCA honored Ms. Olerich with the Women and Industry Award. She is also an active member of the Society of Human Resources Management.

Organization Position Status
Snap Server | Proven Storage Solutions Vice President of Human Resources and Facilities Current
Adaptec, Inc. Vice President of Human Resources and Facilities Current
Adaptec, Inc. Director of Human Resources Consulting and Staffing Current
Tandem Computers Human Resources Manager Former
Tandem Computers Senior Compensation Analyst Former
Eastern Illinois University Bachelor of Arts Degree In Mass Communication and Business Education Former
Organization Position Status
Adaptec, Inc. Vice President of Worldwide Marketing Current
Snap Server | Proven Storage Solutions Vice President of Worldwide Marketing Current
Organization Position Status
Adaptec, Inc. Vice President, Systems Engineering Current
Snap Appliance Vice President, Engineering Former

Bob Graham is Senior Advisor to Cascadia Capital for the technology sector, where he develops and supports relationships between technology firms and Cascadia Capital. His background includes over 30 years of experience in the technology industry in Europe, North America and Asia. He has held senior positions and directorships in many tech companies including positions with Ridge Partners, a technology consulting firm, where he is founder and a partner, President of Adaptec, Founder and CEO of Ridge Technologies a storage products firm, Founder and COO of MSL, a worldwide outsourcing and logistics firm, EVP of Sun Microsystems and President of the Microelectronics business, and as an executive with Digital Equipment. Bob holds a BS from Northeastern University and an MBA from IMD, Lausanne, Switzerland.

Organization Position Status
Adaptec, Inc. Founder Current
Adaptec, Inc. Partner Current
Cascadia Capital Senior Advisor Current
Adaptec, Inc. President Former
Northeastern University BS Former
Organization Position Status
Adaptec, Inc. Director, Marketing Current
Organization Position Status
Adaptec, Inc. Director, Corp Communications Current
Snap Appliance Director Worldwide Corporate Communications Former

Lou earned his MBA at Thunderbird (American Graduate School of International Management), and is currently a Senior Project Manager at Adaptec, Inc one of Silicon Valley's Storage leaders. Lou's career spans hands-on technical positions; sales management and IT management positions, culminating in project management where he brings his expertise together to deliver successful enterprise-wide and global projects. He has developed and supported major Infrastructure, Disaster Recovery, as well as mission critical applications projects. Lou is active in the PM community in the Bay Area and has extensive vendor contacts which he will apply to enhance the Chapter's Professional Development discipline to the benefit of all members.

Organization Position Status
Adaptec, Inc. Senior Project Manager Current
PMI-Sfbac Board of Directors Current
American Graduate School of International Management Mba Former
Organization Position Status
Adaptec, Inc. Manager, Marketing Current

Lawrence J. Ruisi is a private investor/consultant and also serves on the Board of Governors of Sound Shore Medical Center where he was Chairman from 2002 to 2006. Mr. Ruisi was Chief Executive Officer and President of Loews Cineplex Entertainment from 1998 to 2002, Executive Vice President of Sony Pictures Entertainment from 1991 to 1998, Senior Vice President of Columbia Pictures Entertainment from 1987 to 1990 and Senior Vice President Finance and Vice President and Controller of Tri-Star Pictures from 1983 to 1987. Mr. Ruisi started his career in public accounting and worked for Price Waterhouse & Co. from 1970 to 1983. He also serves on the boards of directors of UST Inc., a packaged goods company, Hughes Communications, Inc., a provider of broadband satellite network services and systems, and Innkeepers USA, a privately held hotel real estate investment trust.

Organization Position Status
Adaptec, Inc. Consultant Current
Governors Board of Directors Current
Adaptec, Inc. Board of Directors Current
Loews Cineplex Entertainment Corporation Chief Executive Officer Former
Loews Cineplex Entertainment Corporation President Former

has served as one of our directors since 2007. He co-founded Steel Partners II, L.P. ("Steel Partners"), a private investment partnership, in 1993. He is the President of Steel Partners LLC ("Partners LLC"), a global investment management firm. He has been associated with Partners LLC and its affiliates since December 2003. Mr. Howard has served as the Chief Operating Officer of SP Acquisition Holdings, Inc. ("SP Acquisition"), a company formed for the purpose of acquiring one or more businesses or assets, since June 2007 and has served as its Secretary since February 2007. He also served as a director of SP Acquisition from February 2007 to June 2007 and as its Vice-Chairman from February 2007 to August 2007. Mr. Howard has served as Chairman of the Board of WebFinancial Corporation, which through its operating subsidiaries operates niche banking markets, since June 2005. He served as Chairman of the Board and Chief Executive Officer of Gateway Industries, Inc., a provider of database development and website design and development services, from February 2004 to April 2007 and as Vice President from December 2001 to April 2007. Mr. Howard currently serves as a director of WHX Corporation, CoSine Communications, Inc., and NOVT Corporation.

Organization Position Status
Sp Acquisition Holdings, Inc. Chief Operating Officer Current
Adaptec, Inc. Chairman Current
Sp Acquisition Holdings, Inc. Vice Chairman & Secretary Current
Gateway Industries, Inc. Chief Executive Officer Former
WebFinancial Corporation Chairman & Vice President Former
WebFinancial Corporation Chairman of The Board Former
Gateway Industries, Inc. Chairman of The Board Former
Sp Acquisition Holdings, Inc. Board of Directors Former
Organization Position Status
Peregrine Systems, Inc. CEO Current
Symark Chief Executive Officer Current
Adaptec, Inc. Chair Current
HNC Software CEO Former
HNC Software president Former
Peregrine Systems, Inc. President Former
University of Chicago M.B.A. Former
Cornell University bachelor of science degree Former
Overland Storage, Inc. member Former

Retired Partner, PricewaterhouseCoopers. Mr. Robel has been a Director of the Company since November 2005 and Lead Independent Director since January 2009. From June 2000 to December 2005, Mr. Robel was a general partner and Chief of Operations for Hummer Winblad Venture Partners. From January 1974 to May 2000, Mr. Robel was a Partner with PricewaterhouseCoopers, LLP. From mid 1995 to May 2000, Mr. Robel led PricewaterhouseCoopers High Technology Transaction Services Group in Silicon Valley where he advised on strategy, valuation and structuring for mergers and acquisitions. From May 1985 to mid 1995, Mr. Robel was the Partner in charge of the Software Industry Group at PricewaterhouseCoopers, LLP in Silicon Valley, and prior to that, Mr. Robel was with PricewaterhouseCoopers, LLP in Los Angeles and Phoenix. Mr. Robel holds a B.S. degree in accounting from Arizona State University. Mr. Robel serves on the Board of Directors of Autodesk, Inc., DemandTec, Inc. and McAfee, Inc. He serves as the Chairman of the Board of McAfee and Chairman of the Audit Committee of both Autodesk and DemandTec, as well as serving as a member of the Audit Committee at McAfee. He also serves on the Board of Directors of two privately held companies.

Organization Position Status
Informatica Corporation Chairman of The Board, McAfee Current
McAfee, Inc. Chairman of The Board Current
Informatica Corporation Board of Directors Current
Adaptec, Inc. Board of Directors Current
Demandtec, Inc. Board of Directors Current
McAfee, Inc. Board of Directors Current
USA 2017 Board of Directors Current
Borland University Director Current
Hummer Winblad Venture Partners Chief Operating Officer Former
Hummer Winblad Venture Partners General Partner Former
PricewaterhouseCoopers partner Former
Silicon Valley Corporation Partner Former
Borland Software Corporation Board of Directors Former
Arizona State University Bachelor of Science in Accounting Former
Organization Position Status
Adaptec, Inc. Board of Directors Current
Information.Com Dean Former
Organization Position Status
Adaptec, Inc. Board of Directors Current
Organization Position Status
The Priority Trust President of Catalyst Current
Catalyst Inc. President Current
Adaptec, Inc. Board of Directors Current
Art Technology Group, Inc. Board of Directors Current
Atg, Inc. Member of the Board of Directors Current
The Priority Trust Board of Directors Current
Essentialcom Inc CEO Former
Essential.Com, Inc. President and CEO Former
Lotus Development Corporation President Former
Essentialcom Inc President Former
Lotus Development Corporation senior vice president Former
Radcliffe College Board of Directors Former
Radcliffe College A.B. Degree In History Former
Organization Position Status
Omneon Co President, Chief Executive Officer and Director Current
Nextaid and Partners Architect Current
Omneon Co Member of the Board Current
ConSentry Networks Board of Directors Current
Adaptec, Inc. Board of Directors Current
Airmagnet, Inc. Board of Directors Current
Pluris Inc Chief Executive Officer Former
Rapid City Founder Former
Phoenix Technology Founder Former
Zilog Inc. director of engineering Former
Pluris Inc Chairman of the Board of Directors Former
University of California, Berkeley M.S. In Electrical Engineering and Computer Science Former
University of California, Berkeley A.B. Degree In Computer Former
Southern California Institute of Architecture Degrees In Architecture Former
University of California, Berkeley Degrees In Architecture Former
Organization Position Status
Steel Partners, Inc. Vice President Current
Holding LLC Vice President Current
Layne Christensen Co. Director Current
Holding LLC Director Current
Angelica Corporation Director Current
Adaptec, Inc. Board of Directors Current
Novoste Corporation Chief Executive Officer Former
Novoste Corporation President Former
Sequa Corporation President Former
Sequa Corporation Chief Operating Officer Former
Steel Partners, Inc. Operating Partner Former
Sequa Corporation Executive Officer Former
Novoste Corporation Chairman of The Board Former
Sequa Corporation Vice Chairman Former
Sequa Corporation Director Former

Jon Castor has been a director of Genesis since November 2004. From January 2004 to June 2004, Mr. Castor was an Executive Advisor to the Chief Executive Officer of Zoran Corporation, and from August 2003 to December 2003, he was Senior Vice President and General Manager of Zoran's DTV Division. From October 2002 to August 2003, Mr. Castor was the Senior Vice President and General Manager of the TeraLogic Group at Oak Technology Inc., a developer of integrated circuits (ICs) and software for digital televisions and printers which was acquired by Zoran. Prior to that, Mr. Castor co-founded TeraLogic, Inc., a developer of digital television ICs, software and systems in June 1996 where he served in several capacities including as its President, Chief Financial Officer and director from June 1996 to November 2000, and as its Chief Executive Officer and director from November 2000 to October 2002, when it was acquired by Oak Technology. Mr. Castor also serves on the Board of Directors of Adaptec Inc. (NASDAQ: ADPT), a data storage solutions company, and as a member of its Audit and Compensation Committees. Mr. Castor also serves on the Board of Directors of Artimi, Inc., an ultrawideband wireless technology company, where he is also Chairman of the Compensation Committee. Mr. Castor received his B.A. with distinction from Northwestern University and his M.B.A. from Stanford Graduate School of Business.

Organization Position Status
Genesis Microchip Inc. Director of Genesis Current
Omneon Co Chairman of the Board Current
Omneon Co Board of Directors Current
Genesis Microchip Inc. Board of Directors Current
Adaptec, Inc. Board of Directors Current
Staccato Communications, Inc. Board of Directors Current
Zoran Corporation Chief Executive Officer Former
Artimi, Inc. CEO Former
Teralogic, LLC CEO Former
Oak Technology senior vice president Former
Zoran Corporation Senior Vice President & General Manager Former
Oak Technology general manager Former
Teralogic, LLC Co-Founder Former
Oak Technology Founder Former
Oak Technology Manager Former
Genesis Microchip Inc. Manager Dtv Division Former
Zoran Corporation Executive Advisor Former
Artimi, Inc. Chairman of the Board Former
Stanford Graduate School of Business M.B.A. Former
Northwestern University B.A. Former
Genesis Microchip Inc. Member Former

FAVORITE WAY TO OBOPAY: I like being able to send emergency cash to my young adult children. And Obopay enables them to carry less cash and easily share expenses with their friends and roommates. Judy is involved in all corporate matters, including strategic partnerships, intellectual property and international expansion. She brings her love of start-ups, her years of experience, her deal-making skills and her network of relationships with venture and other financial firms to Obopay as it goes from successful launch to growth and expansion in the U.S. and globally. In her 20 years as a partner at Wilson Sonsini Goodrich & Rosati, Judy was the business lawyer for many of Silicon Valley's premier high tech companies, including Juniper Networks, KLA-Tencor, Sun Microsystems and LSI Logic. She worked with many start-ups from incorporation through venture capital financings, initial public offerings, mergers and acquisitions and joint venture relationships in the U.S. and abroad. In 2001, Judy co-founded Incubic Venture Fund where she was a Managing Director until November 2006 when she joined Obopay. Judy received a BA with honors from Smith College and her JD from UCLA School of Law where she was elected to Order of the Coif. In 2000, she was named a Top Deal Maker by the American Lawyers and, for five years, was included on the Forbes Midas List, a list of the leading members of the venture community.

Organization Position Status
Obopay, Inc Executive Vice President, General Counsel and Secretary Current
Incubic Venture Partner Current
Certus Software, Inc. Current
Obopay, Inc Board of Directors Current
Adaptec, Inc. Board of Directors Current
Aviaradx, Inc Board of Directors Current
Mistletoe Technologies, Inc Board of Directors Current
Ciena Corporation Director Current
Geovector Corporation Director Current
Grandis, Inc. Director Current
Certus Corporation Advisory Board Member Current
Incubic managing director Former
Wilson Sonsini Goodrich & Rosati Partner Former
New Focus Counsel Former
LSI Corporation business lawyer Former
KLA-Tencor Corporation Counsel Former
Juniper Networks, Inc. business lawyer Former
Sun Microsystems, Inc. business lawyer Former
Incubic Business Advisor Former
Avanex Corporation Counsel Former
Mahi Networks Former
University of California, Los Angeles School of Law Jd Former
Smith College BA Former
University of California, Los Angeles law degree Former
Organization Position Status
Adaptec, Inc. Board of Directors Current
Organization Position Status
Morgan Stanley Venture Partners Managing Member, Information Technology Current
Business Engine, Inc. Principal Current
Business Engine, Inc. Board of Directors Current
Adaptec, Inc. Director Current
Evolving Systems, Inc. Director Current
Weiss, Peck & Greer Managing General Partner Former
U.S. Navy Officer, Nuclear Submarine Branch Former
Siliconix Incorporated Officer Former
Harvard Business School M.B.A Former
Illinois Institute of Technology B.S. in Electrical Engineering Former
Organization Position Status
Adaptec, Inc. Board of Directors Current

Dr. Van Houweling is a Professor in the School of Information at the University of Michigan. Prior to his appointment as CEO, he served as Dean for Academic Outreach and Vice Provost for Information and Technology at the University. Dr. Van Houweling also holds academic appointments in the University of Michigan Business School and in the College of Literature, Science and the Arts in the Department of Political Science.

Organization Position Status
University of Michigan Professor Current
INTERNET2 President Former
Altarum Chairman of the Altarum Board Current
Adaptec, Inc. Board of Directors Current
Advanced Network Services, Inc. Board of Directors Current
Information.Com Dean Former
Indiana University Doctorate In Government Former
Iowa State University Undergraduate Degree Former

Executive News

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     ADPT $2.64 -0.09 (-3.30% )
Average Volume 463,466
Shares Outstanding 120.71M
Market Cap 318.7M
Year High 4.24
Year Low 2.2
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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