Extract
PMC-Sierra Reports Q2 2001 Results.
Business Editors
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 19, 2001 PMC-Sierra, Inc. (Nasdaq:PMCS) today reported net revenues of $94.1 million and a pro forma net loss of $0.08 per share for the second quarter of 2001. Net revenues decreased 21% compared to $119.9 million in the first quarter of 2001. The pro forma net loss in the second quarter of 2001 was $13.4 million compared to pro forma net income of $4.4 million in the first quarter of 2001. Pro forma net income for the second quarter of 2001 excludes a provision of $12.1 million for excess inventory recorded in cost of revenues, deferred stock compensation, amortization of goodwill, a charge of $189.0 million for impairment of intangible assets, and an i...See the full content of this document
