PMC-Sierra reported Q2 revenue of $171.0 million, a sequential increase of 9% compared with $157.4 million in the first quarter of 2011, and 6% higher than net revenues of $160.7 million in the second quarter of 2010. Net income (GAAP) was $16.7 million, or $0.07 per diluted share, compared with GAAP net loss in the first quarter of 2011 of $7.7 million, or $0.03 per share.
“Strength in our storage and optical businesses, combined with solid execution, resulted in a strong second quarter,” commented Greg Lang, president and chief executive officer of PMC. “PMC also made several product announcements during the quarter, reinforcing our leading position as the network semiconductor innovator. These announcements spanned the SAS 2 storage, optical networking and mobile connectivity markets.”http://www.pmc-sierra.com
