PMC-Sierra Falls After Earnings

Communications-chip maker PMC-Sierra ( PMCS) reported third-quarter earnings that surpassed Wall Street's estimates, but revenue missed the consensus forecast.

For the quarter ended Oct. 2, revenue was $76.2 million compared with $71.2 million a year ago. PMC-Sierra earned $13.5 million, or 7 cents a share, before items, vs. a profit of $7.2 million, or 4 cents a share, last year.

On a GAAP basis, the company earned $5.9 million, or 3 cents a share, up from $500,000, or less than a penny a share, in the previous year.

Analysts surveyed by Thomson First Call were expecting earnings of 6 cents before items and a top line of $77.3 million.

Shares of PMC-Sierra were losing 26 cents, or 3.3%, to $7.67 in after-hours trading.

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