STEC, Inc. (STEC) designs, develops, manufactures and markets custom memory solutions based on flash memory and dynamic random access memory (DRAM) technologies. The Company specializes in developing flash drives and memory cards used in sensitive and highly volatile environments and high-density DRAM modules. STEC offers a product line used by original equipment manufacturers (OEMs). Prior to the divestiture of its Consumer Division, the Company also designed, developed, manufactured and marketed open-standard memory solutions based on flash memory, DRAM technologies and external storage solutions used in consumer electronics applications. STEC offers both monolithic DRAM modules and DRAM modules based on its stacking technology. During the year ended December 31, 2008, the Company sold to more than 329 customers, consisting of direct sales and sales through OEM distributors and contract manufacturers that incorporate its products into systems they assemble for STEC’s customers.