Thursday, July 6, 2006

PMC-Sierra's CFO to Step Down

Alan Krock, Vice President and CFO of PMC-Sierra, will be leaving the company for personal reasons following a reasonable transitional period. Mr. Krock joined the Company in his capacity as VP Finance and CFO in November 2002.

PMC-Sierra also provided an update on its revenue outlook for the second quarter of 2006. For the three-month period ending July 2nd, the company's revenue is expected to be at the mid-point of the revenue range provided during the company's webcast conference call on April 20, 2006 following its first quarter earnings results. At that time, the revenue outlook provided for the second quarter of 2006 was $108 million to $112 million, excluding revenues from the acquisition of Passave Inc. that closed on May 4th, 2006. In addition, it is expected that PMC-Sierra will receive revenues of approximately $8.5 million to $9.0 million from the Passave acquisition in the second quarter of 2006. Full results are expected on July 20th, 2006.

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