PMC-Sierra Inc. (PMCS) reported net income for the fourth quarter of $11.1 million or $0.05 per share, compared to $28.4 million or $0.12 per share for the year-ago quarter.
Excluding items, adjusted net income for the latest quarter was $25.1 million or $0.12 per share, compared to $29.1 million or $0.13 per share in the prior eyar quarter.
Net revenues for the fourth quarter fell 15% to $129.42 million from $152.56 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $126.50 million for the fourth quarter. Analysts' estimates typically exclude special items.
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