PMC-Sierra Reports Q2 Revenue of $123 Million, up 20% Sequentially

PMC-Sierra reported Q2 net revenue of $123.2 million, an increase of 20% compared to $102.6 million in the first quarter of 2009 and 12% lower than net revenues of $139.8 million reported in the second quarter of 2008. Net income (GAAP) was $7.8 million (GAAP diluted earnings per share of $0.03) compared with a net loss of $3.9 million (GAAP loss per share of $0.02) in the first quarter of 2009 and net income of $135.9 million (GAAP diluted earnings per share of $0.60) in the second quarter of 2008.


"In the second quarter of 2009, we benefited from a solid ramp in our new 6Gb/s SAS RAID-on-Chip device at H-P and improved demand in our Fiber-To-The-Home business," said Greg Lang, president and chief executive officer of PMC-Sierra. "Continued cost control allowed us to achieve the same level of non-GAAP net income as in the second quarter of 2008 but on revenue that was 12% below the peak level last year."http://www.pmc-sierra.com