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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 4:00 PM EST

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To: hospitalman who wrote (3348)	4/13/2000 4:19:00 PM
From: Lee	Read Replies (1) of 3818

Earnings - $0.17/share BURNABY, B.C.--(BUSINESS WIRE)--April 13, 2000--PMC-Sierra, Inc. (Nasdaq:PMCS.O) today reported record revenue of $102.8 million and pro forma net income of $0.17 per share (diluted) for the first quarter of 2000. First quarter 2000 results included net revenues of $102.8 million (US dollars) and net earnings of $23.0 million. Pro forma earnings per share (diluted) of $0.17 exclude costs related to acquisitions and a gain on the sale of an investment (net of tax) and include the additional operating costs and share dilution resulting from the first quarter acquisitions of Toucan Technologies Ltd. and AANetcom, Inc. Revenues from networking semiconductors of $97.8 million grew 27% over the prior quarter and 106% over the first quarter of 1999. "PMC-Sierra enjoyed robust growth due to increasing demand for broadband technologies. This is being driven by advanced applications over the Internet, further driving the need for service provider broadband build-outs," according to Bob Bailey, Chairman and Chief Executive Officer. PMC-Sierra is a leading provider of broadband semiconductor solutions for the global information infrastructure. The company's headquarters are located in Burnaby, British Columbia. PMC-Sierra is traded on the Nasdaq National Market under the symbol PMCS. The company is included in the NASDAQ-100 INDEX (NDX) which contains the largest non-financial companies on the Nasdaq Stock Market. The Nasdaq-100 Index is the benchmark for the Nasdaq-100 Index Tracking Stock (AMEX:QQQ.A). Additional information on the Company can be found on line at pmc-sierra.com. -0- *

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