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EX-99.1 - EXHIBIT 99.1 - PMC SIERRA INCa50257170_ex991.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)
April 30, 2012


PMC-SIERRA, INC.
(Exact name of Registrant as specified in its charter)

Delaware

0-19084

94-2925073

(State or other jurisdiction of

incorporation)

(Commission File

Number)

(IRS Employer Identification
Number)


1380 Bordeaux Drive
Sunnyvale, CA 94089
(Address of Principal Executive Offices)(Zip Code)

(408) 239-8000
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




ITEM 2.02.

Results of Operations and Financial Condition

On April 30, 2012, PMC-Sierra, Inc. (“the Registrant”) issued a press release reporting the financial results for its fiscal first quarter ended April 1, 2012.  The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Form 8-K and the Exhibit, attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

As a supplement to the Registrant's condensed consolidated financial statements presented on a generally accepted accounting principles (“GAAP”) basis, the Registrant provides additional non-GAAP measures for cost of revenues, gross profit, gross profit percentage, research and development expense, selling, general and administrative expense, amortization of purchased intangible assets, other income (expense), (provision for) recovery of income taxes, operating expenses, operating income (loss), operating margin percentage, net income (loss), and basic and diluted net income (loss) per share in its press release, along with reconciliations to each of the most comparable GAAP measures.

A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The Registrant believes that the additional non-GAAP measures are useful to investors for the performance of financial analysis. Management uses these measures internally to evaluate its in-period operating performance and the measures are used for planning and forecasting of the Registrant's future periods. However, non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. Other companies may use different non-GAAP measures and presentation of results.


ITEM 9.01.

Financial Statements and Exhibits

(d)   Exhibits.
 
99.1 Press release dated April 30, 2012, reporting financial results of the Registrant for its fiscal first quarter ended April 1, 2012.




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


   

 

PMC-SIERRA, INC.

 

(Registrant)

 
 
 

 

Date:

April 30, 2012

By:

/s/ Michael W. Zellner

 

 

Vice President

 

Chief Financial Officer and

Principal Accounting Officer


EXHIBIT INDEX



Exhibit  
Number Description
99.1 Press release dated April 30, 2012, reporting financial results of the Registrant for its fiscal first quarter ended April 1, 2012.