- Obama’s regulatory agenda will cost U.S. economy $143B next year: report
- Patriot Act author on James Clapper: Fire, prosecute him
- Russia P.M. Medvedev: No amnesty for political prisoners
- Michigan GOP Senate hopeful reminds government is the ‘servant’
- Christmas, by Congress: Members mull a 15-cent tax on trees
- U.S. unemployment falls to five-year low of 7 percent; 203K jobs added
- World mourns Nelson Mandela and celebrates his life; burial set for Dec. 15
- Bill O’Reilly reminds: Nelson Mandela ‘was a communist’
- John Boehner says GOP should support gay candidates: ‘I do’
- Grass-Whopper: Pan-fried cricket burgers go over big in New York City
PMC-Sierra 2Q profit jumps on 30 pct sales rise
Question of the Day
NEW YORK (AP) - PMC-Sierra Inc.’s profits nearly tripled in the second quarter as the maker of maker of communications and storage chips saw further growth in its enterprise storage and fiber-to-the-home businesses.
Net income for the Santa Clara, Calif.-based company surged to $30.1 million, or 13 cents a share, in the quarter ended June 27, compared with $7.8 million, or 3 cents per share, in the same quarter a year earlier.
Revenues for PMC-Sierra rose 30 percent to $160.7 million compared to $123.2 million.
PMC-Sierra completed the purchase of the storage company Adaptec Inc. for $34 million dollars in cash on June 8. Excluding costs related to the sale and other items, the company said it earned 20 cents per share in the latest quarter.
Analysts polled by Thomson Reuters, who usually exclude one-time items, were forecasting earnings of 19 cents per share on revenue of $159.4 million.
PMC-Sierra’s shares slipped 27 cents, or 3.2 percent, to $8.20 in after-hours trading Thursday. They had closed the regular session up 45 cents, or 5.6 percent higher, at $8.47.
- Spike in battlefield deaths linked to restrictive rules of engagement
- Activists urge Obama to go rogue, sidestep Congress
- Colorado judge: Bakery owner discriminated against gay couple
- Bill OReilly reminds: Nelson Mandela was a communist
- PRUDEN: British press horrified as London's new mayor dares to proclaim the truth
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- Rush Limbaugh: Obama trying to make Mandela death about himself
- Obama administration issues permits for wind farms to kill more eagles
- Obamas call to close Vatican embassy is 'slap in the face' to Roman Catholics
- 'Hunger Games' delivers Obama's message on income inequality
Independent voices from the The Washington Times Communities
Get in the middle of all the action inside and outside the boxing ring.
Find the latest news and happening that effect those in the Washington D.C., Northern Virginia and Maryland Metro region.
How does our 50th state view D.C. politics?
White House pets gone wild!