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PMC CFO Departing

PMC-Sierra announced that Alan Krock, Vice President and Chief Financial Officer, has given notice that he will be leaving the Company

July 6, 2006

1 Min Read

SANTA CLARA, Calif. -- PMC-Sierra, Inc. (Nasdaq:PMCS - News) today announced that Alan Krock, Vice President and Chief Financial Officer, has given notice that he will be leaving the Company for personal reasons following a reasonable transitional period. Mr. Krock joined the Company in his capacity as VP Finance and CFO in November 2002.

The Company is also providing an update to its revenue outlook for the second quarter of 2006. For the three-month period ending July 2nd, the Company's revenue is expected to be at the mid-point of the revenue range provided during the Company's webcast conference call on April 20, 2006 following its first quarter earnings results. At that time, the revenue outlook provided for the second quarter of 2006 was $108 million to $112 million, excluding revenues from the acquisition of Passave Inc. that closed on May 4th, 2006. In addition, it is expected that PMC-Sierra will receive revenues of approximately $8.5 million to $9.0 million from the Passave acquisition in the second quarter of 2006.

Management will be releasing its second quarter 2006 earnings results on July 20th, 2006 and will provide guidance for the third quarter of 2006 during a conference call at 1:30 pm Pacific Time on that date. To listen to the call, investors can access an audio webcast of the conference call on the Financial Events and Calendar section at http://investor.pmc-sierra.com/.

PMC-Sierra Inc. (Nasdaq: PMCS)

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