PMC-Sierra Inc. (PMCS) reported GAAP net income of $27.8 million or $0.12 per share for the third quarter, compared to $4.5 million or $0.02 per share in the third quarter of 2008.
Non-GAAP net income was $34.5 million or $0.15 per share, compared to $29.3 million or $0.13 per share in the previous year quarter.
Net revenues in the third quarter were $130.9 million, down 6% from $139.4 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share on revenue of $130.31 million for the quarter. Analysts' estimates typically exclude special items.
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