S&P 500
7,618.20
-0.06%
Dow Jones
51,324.00
-0.09%
Nasdaq 100
30,684.80
-0.10%
Russell 2000
2,930.28
-0.10%
FTSE 100
10,382.00
-0.06%
Nikkei 225
68,624.20
+1.66%

Investing

PMC-Sierra CEO Retires With Earnings… and Shares Rise (PMCS)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

PMC-Sierra, Inc. (NASDAQ:PMCS) posted earnings of $0.09 on non-GAAP EPS on net revenues of $117.5 million, versus estimates of $0.06 EPS and $113.7 million.  On a GAAP basis the company posted -$0.03 EPS.  The company did not offer guidance in the release, so it it does in teh conference call estimates for next quarter are $0.08 EPS and $119.5 million in revenues.

PMC-Sierra simultaneously announced that Bob Bailey will be retiring as president and chief executive officer once a replacement has been named. He will remain chief executive officer in the meantime.

This saw shares rise more than 1% at $9.02 in normal trading.  In after-hours the stock is actually up 2.5% at $9.25.  The 52-week trading range is $6.06 to $9.27, so it is flirting with year highs.  This may be up significantly from the $5.00 lows of 2006, but shares were north of $20.00 at the end of 2003 and earky 2004.

Without guidance and with a retiring CEO (who is only around 50-years old) the verdict is still pending here. 

Jon C. Ogg
October 18, 2007

Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Microsoft Shares Running on Profit Beat
Paul Ausick |

Microsoft Shares Running on Profit Beat

Microsoft reported mixed fiscal second-quarter 2016 results after markets closed Thursday.

Douglas A. McIntyre |

Adobe Cruises Past Estimates: Are New Stock Highs Coming?

Adobe Systems Inc. (NASDAQ:ADBE) shares are indicated higher in after-hours trading after the company posted earnings.  Adobe posted record revenue…

Douglas A. McIntyre |

VeriFone’s Strong Numbers (PAY)

VeriFone Holdings (NYSE:PAY) has just posted $0.42 EPS and $231.9 Million in Revenues versus First Call estimates of $0.40 and…

SurveyMonkey Learns Lessons of Rapid Executive Departure So Soon After an IPO
Jon C. Ogg |

SurveyMonkey Learns Lessons of Rapid Executive Departure So Soon After an IPO

Is it bad luck to have an animal name as part of your corporate name or product? Maybe not if…

Why FireEye Shares Are at All-Time Lows After Earnings (Hint: It’s Ugly)
Jon C. Ogg |

Why FireEye Shares Are at All-Time Lows After Earnings (Hint: It’s Ugly)

There is a saying that you should never say bad things about people (and companies). Apparently that does not count when…

Yelp Delivers Big on Earnings, Turnaround Continues
Jon C. Ogg |

Yelp Delivers Big on Earnings, Turnaround Continues

Online reviews site Yelp seems to be finding its mojo again after a long fall from its post-IPO peak. Now…

Jon C. Ogg |

Is Cisco Back to Beating Earnings Regularly Again? (Updated)

Cisco Systems has announced better-than-expected first fiscal quarter results and the departure of its chief financial officer.

Douglas A. McIntyre |

VMware’s Revenue Punt Destroys Its Shares & EMC Shares (VMW, EMC)

VMware, Inc. (NYSE: VMW) has posted earnings of $0.26 non-GAAP EPS on $412 million in revenues.  First Call had estimates…

Why FireEye Earnings Are So Great
Chris Lange |

Why FireEye Earnings Are So Great

FireEye reported better than expected first-quarter financial results after the markets closed on Tuesday, and shares were up sharply in…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826