PMC-Sierra reported net revenues in the second quarter of 2007 of $104.7 million compared with $103.7 million in the first quarter of 2007. Due to a review of the company's expanded global distribution arrangement with its largest distributor, Avnet, PMC-Sierra determined it was appropriate that all future revenues generated through Avnet be reported on a 'sell-through' basis and therefore deferred until inventory is sold to the end customer. The net impact of this adjustment in the second quarter of 2007 was a decrease in reported revenue of $4.2...