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| Friday, July 21, 2006 |
PMC-Sierra Inc. , a maker of communications and data storage semiconductors, on Thursday reported a loss in the second quarter after a small profit a year ago, citing a research and development charge, amortization of intangible assets, stock-based compensation expenses, and other charges.
PMC-Sierra also issued a revenue forecast for the current quarter and shares of the company fell 2.6 percent in extended trade.
The company said the net loss was $31.3 million, or 15 cents per share, compared with a profit of $529,000 or nil cents per share, a year earlier. Revenue rose by 66 percent to $118.8 million.
Santa Clara, California-based PMC-Sierra said that on a non-GAAP basis, it showed a profit in the latest quarter of 9 cents per share, up from 4 cents per share a year earlier.
Analysts were expecting earnings, excluding one-time items, of 7 cents per share on revenue of $114 million, according to Reuters Estimates.
PMC-Sierra executives said on a conference call to discuss the results that it expects third-quarter revenue of $122 million to $124 million.
Analysts, on average, had expected PMC-Sierra to have third-quarter revenue of $128.1 million.
Shares of PMC-Sierra fell $1.84 (26.36%), to close at $5.14. |
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