PMC-Sierra reports fourth quarter and full-year results

Fabless semiconductor company PMC-Sierra has reported results for the fourth quarter ended 26 December 2010, in which net revenues were $159.3m (£99m), up 14 per cent from $139.5m in the fourth quarter of 2009 and down two per cent from $162.3m reported in the third quarter of 2010.

Net income in the fourth quarter of 2010 on a GAAP basis was $10.9m (GAAP diluted net income per share of $0.05), compared with $15.1m ($0.06) in the fourth quarter of 2009 and $15.2m ($0.06) in the third quarter of 2010.

For the year ended 26 December 2010 net revenues were $635.1m compared with $496.1m for the year ended 27 December 2009, an increase of 28 per cent year over year.

GAAP operating income in 2010 was $108.6m compared with GAAP operating income of $56.6m reported in the year ended 27 December 2009.