PMC Sierra

(PMCS)

rose 18% on the week after saying its first-quarter loss narrowed from the fourth quarter on a 9.1% sequential rise in revenues. The Santa Clara, Calif.-based communications chipmaker lost $15.1 million, or 9 cents a share, before one-time items, compared with a year-earlier profit of $4.45 million, or 2 cents a share, before charges. Analysts had expected PMC-Sierra to post a loss of 12 cents a share. Revenues were $51.5 million and the company predicted it would reach profitability if revenues rise to $75 million to $80 million. PMC-Sierra reported increased sales of recently introduced networking chips into the access and metro-area network space.