Hillsboro, Oregon–TriQuint Semiconductor, Inc. today announced that annual revenues for 2000 are expected to come in better than anticipated, and will be about $300.6 million. The results prompted the company’s senior management team to make good on a wager made with its sales force at the beginning of the year to shave each of the senior executives’ heads should revenues exceed the $300 million milestone as compared with the $163.6 million recorded in 1999.
“We are experiencing some mixed emotion around here. While the entire TriQuint team is thrilled with our results, some of the senior execs were not too excited about losing their hair. Frankly, I think it’s a great badge of honor and I was proud to be the first to climb the stool,” commented, the already significantly bald, President and Chief Executive Officer, Steven J. Sharp.
Ed Whitehurst, TriQuint’s previously thick-haired chief financial officer echoed the sentiment of all the other senior managers, explaining, “We all know a deal is a deal, but it’s a bit of a shock to walk outside in mid-January without the normal protective coating. I believe The Board should think about hats as an addition to 2000’s compensation and bonus package.”
As expected, other members of the management team had varying degrees of enthusiasm for the results of the wager depending upon the number of active hair follicles in their personal inventory. However, all were very happy to recognize the accomplishment of the sales force in growing the company revenue over 80% in one year.