Norbert : PMCS Earnings:
SANTA CLARA, Calif., Jul 18, 2002 (BUSINESS WIRE) -- PMC-Sierra, Inc. (Nasdaq:PMCS) today reported net revenues of $54.5 million and a net loss per share of $0.07 for the second quarter of 2002.
Networking revenue increased 15% to $53.9 million from $46.9 million in the first quarter of 2002. Non-networking revenue decreased to $0.6 million from $4.6 million in the prior quarter as the product in this revenue segment is reaching the end of its life. Pro forma net loss in the second quarter of 2002 was $11.4 million ($0.07 per share) compared to a pro forma net loss of $15.1 million ($0.09 per share) in the first quarter of 2002.
"PMC-Sierra's revenue improved in the second quarter as we experienced growth in all areas of our networking business, including access, metro optical, enterprise and MIPS-based processors," said Bob Bailey, chairman and chief executive officer of PMC-Sierra. "We continue to benefit from growth in newer products as equipment with higher PMC-Sierra silicon content starts to enter trials."
Under generally accepted accounting principles (GAAP), the loss in the second quarter of 2002 was $11.6 million ($0.07 per share) compared to a loss of $13.7 million ($0.08 per share) in the first quarter of 2002. The GAAP loss in the second quarter of 2002 includes the amortization of deferred stock compensation of $0.8 million and a gain on sale of other investments of $0.6 million. Net revenues for the first six months of 2002 were $106.0 million compared to $214.0 million for the same period last year. Year-to-date GAAP loss per share was $0.15 versus $1.77 for the six months ended July 1, 2001.
For a full reconciliation of adjustments between the pro forma and GAAP financial statements, see the schedule incorporated into this press release.
PMC-Sierra's new products announced in the second quarter of 2002:
-- OctalPHY 1G and QuadPHY 1G - These new serializer/deserializer
devices, the 8-channel OctalPHY 1G and the 4-channel QuadPHY
1G, deliver market-leading power efficiencies and design
flexibility for high-speed serial backplanes and Gigabit
Ethernet transceivers. These devices integrate external
passive components and enhance overall system performance and
signal integrity, as well as reducing board space and system
cost. The OctalPHY 1G and QuadPHY 1G have both been optimized
to exceed IEEE 802.3 Gigabit Ethernet signal integrity
standards and are used in Ethernet switches, storage area
networks and other communications equipment.
-- CHESS III - This chip set simplifies the design and network
management for aggregating, grooming, and transporting 2.5
Gbps and 10 Gbps metro services. The chip set enables original
equipment manufacturers to leverage deployed line cards into
new and more advanced systems while reducing carrier systems
costs. The CHESS-III chip set includes the TSE-Nx160
STS-1/AU-3 cross-connect device, and both the ARROW-2x192 and
ARROW-1x192 SONET/SDH framers. The chip set is designed for
Multiservice Provisioning Platforms, sub-wavelength
cross-connects, and Add/Drop Multiplexers operating in the
metropolitan transport market.
-- PALADIN Waveshaper - This device is the industry's highest
density waveform processor and the first commercially
available crest factor reduction controller. Multi-carrier
base stations that adopt the PALADIN Waveshaper's proprietary
crest factor reduction function and PMC-Sierra's PALADIN-15
digital pre-distortion amplification technology can achieve up
to 20% power efficiencies. The PALADIN Waveshaper performs
digital multi-carrier combining, including complex signal
aggregation, digital up-conversion, baseband filtering, and
advanced crest factor reduction used in 2.5G and 3G wireless
PMC-Sierra launches web-based solution advisor to accelerate
In the second quarter, PMC-Sierra announced a new online tool that assists its customers and partners in faster product evaluation. This web-based solution, called the Solution Advisor, guides users through real-time design evaluation and provides recommended chip architectures for specific application requirements. The tool assists users in every step of the evaluation process -- from assessing application needs to identifying the best product or combination of products and services to meet those needs. The Solution Advisor from PMC-Sierra is available at http://www.pmc-sierra.com/solutions.
Second Quarter 2002 Conference Call:
Management will review the second quarter 2002 results and provide guidance for the third quarter of 2002 during a conference call at 2:00 pm Pacific Time today. To listen to the call, investors can access an audio webcast of the conference from the Investor Relations page of PMC-Sierra's corporate website (www.pmc-sierra.com). A replay of this webcast will be posted and available two hours after the conference call has been completed. To listen to the conference call live by telephone, please dial 913-981-5510 approximately ten minutes before the 2:00 pm start time. A phone replay will be available 15 minutes after the completion of the call and can be accessed by dialing 719-457-0820 (enter access code: 521651).
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Dr. Jeeper's-Peeper. : etwas positiver als erwartet
Santa Clara, California-based PMC-Sierra said it had a loss before one-time items of $11.4 million, or 7 cents a share, compared with a year-ago loss before one-time items of $13.4 million, or 8 cents a share. Revenue fell to $54.5 million from $94.1 million.
Analysts had forecast PMC-Sierra to post a loss of 8 cents a share, within a range of a loss of 7 cents to 8 cents, on revenue of $54.9 million, according to tracking firm Thomson First Call.
When the company reported first-quarter results, its chief financial officer, John Sullivan, said that investors could expect strong sequential growth off a modest base of revenues, adding that it could turn a profit when revenue returns to about $80 million a quarter.