PMC-Sierra Restates

The company makes regulatory filings.
Publish date:



filed its second-quarter report with regulators and restated previous results to adjust past shareholders' equity entries by $89.6 million.

The news comes as the company deals with the ramifications of stock option backdating. PMC, a Santa Clara, Calif., broadband chipmaker, said Monday it would

delay its regulatory filings to make restatements linked to backdating findings.

PMC said Monday that its audit committee has concluded that "incorrect measurement dates were not the product of any deliberate misconduct by the company's executives, staff or members of its board of directors."

PMC rose 48 cents Thursday to $6.59.