PMC-Sierra Reports Q1 Revenue off $103 Million, Down 18% YoY

PMC-Sierra reported Q1 2009 revenue of $102.6 million, a decrease of 18% compared with the first quarter of 2008 and 15% lower than the $120.8 million in the fourth quarter of 2008. Net loss in the first quarter of 2009 on a GAAP basis was $3.9 million (GAAP loss per share of $0.02) compared with a GAAP net loss in the first quarter of 2008 of $20.9 million (GAAP loss per share of $0.10).


"In the first quarter of 2009, we experienced strong demand for our wireless and wireline communications products in China," said Greg Lang, president and chief executive officer of PMC-Sierra. "We lowered operating expenses during the first quarter and will maintain our focus on keeping our operating expenses in line with our business opportunities."http://www.pmc-sierra.com