PMC-Sierra Q1 Profit Tops Estimate

(RTTNews) - PMC-Sierra Inc. (PMCS) reported net income for the first quarter of $4.7 million or $0.02 per share, compared to a net loss of $4.2 million or $0.02 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $20.9 million or $0.10 per share, compared to $16.0 million or $0.08 per share in the prior year quarter.

Net revenues for the first quarter rose 5% to $133.1 million from $126.5 million in the first quarter of last year.

Analysts polled by Thomson Reuters expected the company to earn $0.09 per share on revenue of $133.32 million for the first quarter. Analysts' estimates typically exclude special items.