Wednesday, October 15, 2008

PMC-Sierra Posts Q3 Revenue of $139.4 Million, up 19% YoY

PMC-Sierra,reported Q3 2008 revenue of $139.4 million, an increase of 19% compared with net revenues in the third quarter of 2007 of $117.5 million. The company reported net revenues of $139.8 million in the second quarter of 2008.

Net income in the third quarter of 2008 on a GAAP basis was $16.2 million (GAAP diluted earnings per share of $0.07) compared with a GAAP net loss in the third quarter of 2007 of $5.9 million (GAAP net loss per share of $0.03).

"In the third quarter, we experienced solid growth in our WAN infrastructure business primarily due to strength in Asian telecom network build-outs," said Greg Lang, president and chief executive officer of PMC-Sierra. "We believe that we are well positioned in the WAN infrastructure, enterprise storage, and FTTH markets where we see new product cycle opportunities occurring over the next two years."