PMC-Sierra Posts Revenue of $128 Million, Down 7% YoY

PMC-Sierra reported Q2 revenue of $127.9 million, an increase of two percent compared to $125.2 million in the first quarter of 2013, and a decrease of seven percent compared to $137.8 million in the second quarter of 2012. GAAP net loss in the second quarter of 2013 totaled $4.2 million, or $0.02 per share, compared to a GAAP net loss in the first quarter of 2013 of $6.8 million, or $0.03 per share. Non-GAAP net income totaled $16.3 million, or $0.08 per diluted share, up 22 percent in the second quarter of 2013 compared to non-GAAP net income of $13.4 million, or $0.07 per diluted share in the first quarter of 2013.

"Our second quarter results were in line with our outlook despite the muted environment," said Greg Lang, PMC president and chief executive officer. "The recent acquisition of IDT’s PCI Express (PCIe) flash controller business further expands our growth opportunities and positions us as a leader in the rapidly growing enterprise solid-state drive (SSD) market segment."

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