Wednesday, July 21, 2010

PMC-Sierra Posts Q2 Revenue of $161 Million, up 30% YoY

PMC-Sierra reported Q2 revenues of $160.7 million, an increase of 30% compared to $123.2 million in the second quarter of 2009 and 5% higher than net revenues of $152.8 million reported in the first quarter of 2010. Net income (GAAP) was $30.1 million (GAAP diluted earnings per share of $0.13) compared with net income of $7.8 million (GAAP diluted earnings per share of $0.03) in the second quarter of 2009 and net income of $27.0 million (GAAP diluted earnings per share of $0.12) in the first quarter of 2010.


"In the second quarter of 2010, we benefited from continued growth in our Enterprise Storage and Fiber To The Home businesses," said Greg Lang, president and chief executive officer of PMC-Sierra. "We're also very pleased to have closed the asset purchase of Adaptec's channel storage business in the second quarter to accelerate our access to channel customers worldwide." http://www.pmc-sierra.com

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