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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (131)	7/23/2000 3:18:03 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

7/13...PMC-Sierra results surpass target By Myra P. Saefong, CBS.MarketWatch.com Last Update: 5:08 PM ET Jul 13, 2000 NewsWatch Latest headlines CAMPBELL, Calif. (CBS.MW) - Broadband semiconductor technology provider PMC-Sierra announced late Thursday a second-quarter profit that surpassed Wall Street's estimate amid revenue that jumped 124 percent year-over-year. After the market closed, the company (PMCS: news, msgs) posted a second-quarter pro forma profit of $39 million, or 23 cents per share, compared to $13.4 million, or 9 cents a year ago. Twenty-five analysts surveyed by First Call expected PMC-Sierra to earn 19 cents per share for the quarter, on average. PMC-Sierra's second-quarter revenue rose to $134.1 million from $59.9 million in the year-ago quarter. Chief Executive Bob Bailey said his company is benefiting from "secular growth driven by the broadband infrastructure build-out." "The strength and momentum or our core businesses" has allowed the company to broaden its technical capabilities into voice processing, wireless infrastructure and high performance microprocessing, he said. Ahead of the news, shares of the company rose 20 7/8, or 10 percent, to close at 228 15/16. Late Tuesday, PMC Sierra said it would buy microprocessor company Quantum Effect Devices (QEDI: news, msgs) for $2.3 billion in stock. See full story.