PMC-Sierra reported Q1 revenue of $78.7 million compared with $70.6 million for Q4 of 2003 and $55.4 million for the same period a year ago. This represented an increase in revenues of 11.4 percent sequentially and 42.1 percent on a year-over-year basis. Networking revenues in the first quarter of 2004 increased 12.6 percent compared with networking revenues in the prior quarter. The Company did not have any non-networking revenue in the first quarter of 2004 compared with $0.8 million in non-networking revenue in the fourth quarter of 2003.
“PMC-Sierra recorded its fifth consecutive quarter of growth in revenues and profitability as we benefited primarily from improved service provider related spending,” said Bob Bailey, president and CEO of PMC-Sierra. “We experienced a broad-based improvement in demand for our devices serving the broadband access, multi-service switching and metro transport markets.”http://www.pmc-sierra.com
