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PMC-Sierra warns of lower Q3 sales

Posted: 23 Sep 2004 ?? ?Print Version ?Bookmark and Share

Keywords:pmc-sierra? dsl?

PMC-Sierra Inc. is blaming lower than expected demand in Asia for DSL gear and high inventory levels for chips targeting broadband equipment makers for a profit warning related to its third quarter 2004. It expects sales to decline by 16 percent from that achieved in the second quarter.

Revenues are now expected to be $71 million to $73 million compared with reported second quarter revenues of $85.7 million. The Company's previous outlook was for third quarter revenues to be in the range of $86 million to $92 million, or flat to up 7 percent.

However, the Santa Clara, California-based chip group said that even on the revised outlook for the third quarter of 2004, revenues for the nine months ending September 30, 2004 are expected to be 32 percent to 33 percent higher than for the same nine-month period in 2003.

The company said the revision is primarily due to "recent reductions in the planned deployment rates of DSL equipment by Asian service providers for the second half of 2004. Also, generally improved availability of semiconductor components is causing a reduction in semiconductor orders below the consumption rates available in the end markets served."

- John Walko

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