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PMC-Sierra posts loss

PMC-Sierra posted a loss for the third consecutive quarter indicating that tough times remain for the telecom industry even though the communications chipmaker did see business picking up in the future. The Santa Clara, Calif.-based company recorded a pro forma net loss of $25.8 million, or 15 cents a share, on revenue of $47.2 million. That compares with a pro forma net income of $62.5 million, or 34 cents a share, and revenue of $232 million. On a conference call, CEO John Sullivan said he expects first-quarter revenue to increase between 5 percent and 15 percent from the previous quarter, and that PMC's pro forma net loss will decrease between two cents and three cents a share. Reuters contributed to this report.

PMC-Sierra posted a loss for the third consecutive quarter indicating that tough times remain for the telecom industry even though the communications chipmaker did see business picking up in the future. The Santa Clara, Calif.-based company recorded a pro forma net loss of $25.8 million, or 15 cents a share, on revenue of $47.2 million. That compares with a pro forma net income of $62.5 million, or 34 cents a share, and revenue of $232 million.

On a conference call, CEO John Sullivan said he expects first-quarter revenue to increase between 5 percent and 15 percent from the previous quarter, and that PMC's pro forma net loss will decrease between two cents and three cents a share.

Reuters contributed to this report.