PMC-Sierra reported Q4 2013 revenue of $126.1 million, a decrease of 2.2 percent compared to $128.9 million in the third quarter of 2013, and a decrease of 2.6 percent compared to $129.4 million in the fourth quarter of 2012.
GAAP net loss in the fourth quarter of 2013 totaled $16.7 million, or $0.08 per share, compared to a GAAP net loss in the third quarter of 2013 of $2.7 million, or $0.01 per share. This included a provision for income taxes of $12.8 million.
“Fourth quarter results were above the midpoint of our expectations and reflected solid growth in our storage business,” said Greg Lang, PMC president and chief executive officer. “It is encouraging to see our storage and server businesses finish the year strong.”