Wednesday, April 16, 2008

PMC-Sierra Posts Q1 Revenue of $125 Million, up 21% YoY

PMC-Sierra reported Q1 2008 revenues of $125.0 million, which is 21% higher than the first quarter of 2007 and a slight increase compared with $123.6 million in the fourth quarter of 2007. Net loss in the first quarter of 2008 (GAAP) was $22.7 million compared with a GAAP net loss in the fourth quarter of 2007 of $5.1 million.

"In the first quarter, we experienced strong demand for our fiber to the home, enterprise storage, and laser printer products," said Bob Bailey, chairman and chief executive officer of PMC-Sierra. "We believe that the overall business environment has improved in Asia, and PMC-Sierra is gaining market share in a number of key target markets."

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