PMC-Sierra Trims Q3 Forecast

PMC-Sierra trimmed its financial forecast for its third quarter ending September 26, 2010. The company now expects net revenues to be in the range of $161 million to $163 million, compared to the previous revenue range of $169 million to $177 million that was announced during the July 22, 2010 earnings conference. PMC-Sierra expects its gross margins in the third quarter of 2010 to be at the lower end of the outlook range provided of 67.5% to 68.5%. Operating expenses in the third quarter of 2010 are expected to be in the range of $64 million to $65 million, down from the prior outlook range of $66 million to $67 million. http://www.pmc-sierra.com