PMC-Sierra Loss Narrows On Lower Costs, Revenue Growth - Quick Facts

(RTTNews) - Semiconductor company PMC-Sierra Inc. (PMCS) Thursday reported first-quarter net loss of $4.2 million or $0.02 per share compared with a loss of $8.5 million or $0.04 per share last year.

Results for the recent quarter included $6.2 million stock-based compensation expense and $12.3 million amortization costs.

Excluding items, adjusted earnings for the quarter were $16 million or $0.08 per share compared with $13.3 million or $0.06 per share a year ago.

Revenues for the quarter were $126.5 million compared with $125.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.07 per share on revenues of $124 million for the quarter. Analysts' estimates typically exclude special items.

Results were partly helped by a decrease in income tax provision to $1.8 million from $4 million a year ago.