PMC-Sierra Lowers Q3 Forecast

Thursday, 23 September 2010 05:13

PMC-Sierra, Inc, the premier Internet infrastructure semiconductor solution provider, today provided an update to its business outlook for the third quarter of 2010. The Company now expects its net revenues in the third quarter ending September 26, 2010, to be in the range of $161 million to $163 million. The Company's previous outlook for third quarter net revenues announced during the July 22, 2010 earnings conference call was a revenue range of $169 million to $177 million. The Company expects its gross margins in the third quarter of 2010 to be at the lower end of the outlook range provided of 67.5% to 68.5%. Operating expenses in the third quarter of 2010 are expected to be in the range of $64 million to $65 million, down from the prior outlook range of $66 million to $67 million. PMC-Sierra Inc. (Nasdaq: PMCS)