PMC-Sierra Reported Mixed Q4 Results, Top Line Up 14%

PMC-Sierra (NASDAQ:PMCS) reported Q4 EPS of $0.15, ex-items, missing consensus estimates of $0.16 per share. Revenues for the quarter rose 14% year-over-year to $159.30 million, ahead of consensus estimates of $156.95 million.

Greg Lang, president and chief executive officer of PMC-Sierra said, "In 2010, we experienced a broad recovery following a difficult recession the prior year. Revenue growth resumed across all of our major businesses including enterprise storage and WAN infrastructure, With the improved economic environment in 2010, we experienced 28% year-over-year growth in net revenues and 45% growth in non-GAAP operating income."

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