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.