PMC-Sierra Inc. (PMCS) reported a narrower net loss for the first quarter of $6.8 million or $0.03 per share, compared to $67.3 million or $0.29 per share for the year-ago quarter.
Excluding items, adjusted net income for the latest quarter was $13.3 million or $0.07 per share, compared to $14.0 million or $0.06 per share in the prior year quarter.
Meanwhile, net revenues for the first quarter fell to $125.16 million from $132.09 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $127.77 million for the first quarter. Analysts' estimates typically exclude special items.
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