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Components | July 25, 2011

PMC-Sierra report increase in net revenues

PMC-Sierra reports net revenues in 2Q/2011 of USD 171.0 million, a sequential increase of 9% compared with USD 157.4 million in 1Q/2011, and 6% higher than net revenues of USD 160.7 million in 2Q/2010.

In the second quarter of 2011, the Company reported GAAP net income of USD 16.7 million, or USD 0.07 per diluted share, compared with GAAP net loss in the first quarter of 2011 of USD 7.7 million, or USD 0.03 per share. Non-GAAP net income in the second quarter of 2011 was USD 40.2 million, or USD 0.17 per diluted share, compared with non-GAAP net income of USD 30.6 million, or USD 0.13 per diluted share, in the first quarter of 2011. “Strength in our storage and optical businesses, combined with solid execution, resulted in a strong second quarter,” commented Greg Lang, president and chief executive officer of PMC. “PMC also made several product announcements during the quarter, reinforcing our leading position as the network semiconductor innovator. These announcements spanned the SAS 2 storage, optical networking and mobile connectivity markets.”
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