PMC-Sierra's Q2 Revenues Grow 42% Year-over-Year

PMC-Sierra reported Q2 net revenues of $85.7 million compared with $78.7 million for the first quarter of 2004 and $60.4 million for the same period a year ago. This represented an increase in revenues of 9 percent sequentially and 42 percent on a year-over-year basis. GAAP net income in the second quarter of 2004 was $15.4 million (GAAP diluted earnings per share of $0.08). This compares to GAAP net income of $16.8 million in the first quarter of 2004 (GAAP diluted earnings per share of $0.09).



"PMC-Sierra's revenue increased in the second quarter as business trends in the service provider sector continued to improve," said Bob Bailey, president and CEO of PMC-Sierra. http://www.pmc-sierra.com