This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PMC Reaffirms; CFO to Depart

PMC-Sierra's (PMCS - Get Report) head of finance is resigning, the company announced after Thursday's market close.

The Santa Clara, Calif., chipmaker said that Alan Krock, who joined PMC as CFO in 2002, is leaving the company for personal reasons. Krock will stay on through a "reasonable transition period," the company said.

PMC also provided an update to its second-quarter financial guidance in the same announcement. PMC said it expects revenue to be at the midpoint of its previously set range of $108 million to $112 million, resulting in sales of $110 million.

The figure does not include an expected $8.5 million to $9 million in revenue from PMC's acquisition of Passave in May.

Shares of PMC closed the regular trading session up 0.3%, or 3 cents, at $9.04. In recent after-hours trade, shares were off 3.7% to $8.70.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
PMCS $8.99 -2.71%
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs