PMC-Sierra Reaffirms Top-Line Guidance

The company still sees quarterly revenue of $78 million to $80 million.
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PMC-Sierra

(PMCS)

continues to expect first-quarter revenue of $78 million to $80 million, consistent with the business outlook provided last month.

The maker of broadband communications and storage semiconductors said Monday that the outlook excludes revenue from its storage-business acquisition of Avago Technologies, which the company expects to close by Wednesday.

A Thomson First Call survey of analysts was expecting the company to post revenue of $81 million in the first quarter.

Following the announcement, shares of PMC-Sierra were off 6 cents in after-hours trading to $10.35 on Intstinet.