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News > Technology
PMC-Sierra warns again
June 28, 2001: 4:50 p.m. ET

Telecom chip company sees lower 2Q sales, with customer demand still low
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NEW YORK (CNNfn) - Communications chipmaker PMC-Sierra Inc. warned second-quarter revenue will be lower than previously thought, resulting in a wider-than-expected per share loss.

PMC-Sierra (PMCS: Research, Estimates)  said Thursday due to "continued weakness in customer demand" revenue for the second quarter will be in the range of $93 million to $95 million, with a loss per share of 7 to 9 cents, excluding amortization of goodwill, deferred stock compensation and other charges.

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Analysts surveyed by First Call on average were expecting revenues of about $102 million, with a loss of 2 cents per share.

In March, the Santa Clara, Calif.-based company warned on its first quarter and said it was cutting 13 percent of its workforce.

Shares of PMC-Sierra rose $1.73 to $29.15 on the Nasdaq on Thursday. graphic

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