Patriot Scientific Appoints Donald Schrock to Board of Directors
CARLSBAD, Calif.--(BUSINESS WIRE)--Patriot Scientific (OTCBB:PTSC), an intellectual property licensing company with significant interests in critical semiconductor technologies, announced today it has named Donald Schrock to the company’s board of directors.
Schrock joins the board after a distinguished 35-year career in the semiconductor industry. Prior to retiring in 2003, Schrock served as Executive Vice President and President of Qualcomm CDMA Technologies Group. Under his leadership, Qualcomm became the world’s largest fabless semiconductor company and the world’s leading supplier of CDMA chipsets and software. During his seven years with Qualcomm, annual chipset revenue grew from $50 million to more than $2.5 billion. Schrock’s group was named the best financially managed fabless semiconductor organization by the Fabless Semiconductor Association.
While at Qualcomm Schrock also led the $1 billion acquisition of Snaptrack, accelerating the commercialization of advanced GPS services into wireless handsets. The CDMA Development Group awarded Schrock and his team the Industry Achievement Award for Third Generation Pioneer in recognition of their role in bringing the first third generation (3G) technology to commercial reality for the wireless industry.
Prior to joining Qualcomm, Schrock held key executive positions at GM Hughes Electronics, Applied Micro Circuit Corporation, Burr-Brown Corporation and Motorola Semiconductor. Schrock also served on the board of directors of Jazz Semiconductor, a privately held mixed signal and RF wafer foundry, until its merger with Acquicor Technology in 2007.
“I am so pleased to have Don accept a position on our board of directors,” said Patriot President and CEO Rick Goerner. “As we move forward in considering various growth options for the company, Don’s merger and acquisition experience with technology companies and his network of connections among them will strongly benefit our decision process.”
Carl Johnson, chairman of the Patriot Scientific executive committee, said, “We are extremely pleased to welcome Don to our board. In addition to widely-recognized leadership within the semiconductor industry, Don brings extensive managerial experience and strong contacts in the chipset community. His technological knowledge and expertise in the public company arena will be valuable assets for Patriot. Don will play an important role in helping grow shareholder value.”
About Patriot Scientific
Patriot Scientific is a leading intellectual-property licensing company that develops, markets, and enables innovative technologies that satisfy the demands of fast-growing markets for wireless devices, smart cards, home appliances, network gateways, set-top boxes, entertainment technology, automotive telematics, biomedical devices, industrial controllers and more. Headquartered in Carlsbad, Calif., information about the company can be found at www.patriotscientific.com.
An investment profile on Patriot Scientific may be found at www.hawkassociates.com/profile/ptsc.cfm. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. To receive free e-mail notification of future releases for Patriot Scientific, sign up at www.hawkassociates.com/about/alert/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, patent litigation, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
Moore Microprocessor Patent (MMP) and Alliacense are trademarks of Technology Properties Limited (TPL). PTSC is a trademark of Patriot Scientific Corporation. All other trademarks belong to their respective owners.
Contacts
Patriot Scientific
Media Relations:
The Hoffman Agency
John Radewagen, 408-975-3005 or cell: 408-219-9199
jradewagen@hoffman.com
or
Patriot Scientific
Investor Relations:
Hawk Associates
Ken AuYeung or Frank Hawkins, 305-451-1888
patriot.scientific@hawkassociates.com
At A Glance
Patriot Scientific
Headquarters: Carlsbad, CA
Website: www.ptsc.com
CEO: Rick Goerner
Employees: 7
Ticker: PTSC (OTCBB)
Revenues: $638,784 (2007)
Net Income: $23,691,187 (2007)
Source: via Business Wire
Updated 03/18/2008 by company