PMC-Sierra Reports Q1 Revenues of $55.4 million

PMC-Sierra reported Q1 revenues of $55.4 million compared to $52.6 million in Q4 2002 and $51.4 million in the same period one year ago. GAAP net loss in Q1 2003 was $11.5 million (GAAP net loss per share of $0.07). This compares with a GAAP net loss of $30.5 million in Q4 2002 (GAAP net loss per share of $0.18). The company said it improved its operating cost structure during the quarter and further diversified its product line with the addition of silicon solutions for storage systems.
http://www.pmc-sierra.com

Read More

Conexant Reports Quarterly Revenue of $158 Million

Conexant Systems reported quarterly revenue of $158.4 million, an increase of 7% over the same period last year. The GAAP net loss for the second quarter of fiscal 2003 was $68.0 million, compared with a net loss of $200.7 million in the same period last year. The company expects revenues for the current quarter to rise 3 to 7% sequentially due to continued traction in key growth initiatives, which include ADSL modems, satellite set-top box solutions and home network processors. Conexant also said that it has reduced the outstanding balance on its convertible debt due in 2007 by $100 million by using $56 million in cash.
http://www.conexant.com

Read More

FCC Finds SBC in Violation of SBC/Ameritech Merger Order

The FCC found SBC Communications and its nine incumbent local exchange affiliates in violation of an order issued in conjunction with the SBC/Ameritech merge. The FCC action arose following a complaint by two CLECs, Core Communications and Z-Tel Communications, who said SBC refused to allow their use of a shared transport unbundled network element needed for transporting intraLATA toll calls. Core and Z-Tel may now file a supplemental complaint for damages caused by SBC's violation.
http://www.fcc.gov

• In approving the 1999 merger of SBC and Ameritech, the FCC required SBC to offer the shared transport unbundled network element in the former Ameritech states on terms at least as favorable as those offered to telecommunications carriers in Texas as of August 27, 1999.
• 
  
  In October 2002, the FCC imposed a $6 million fine on SBC for violating the requirement.

Read More