Archive for July 20th, 2007

PMC-Sierra Q207 Conference Call Notes

image Here’s a quick snapshot of the PMC-Sierra (PMCS) FQ207 conference call.

  • Revenue up slightly based on the strength of storage and FTTH chips
  • Headcount down from 1182 to 1057 with a corresponding reduction in opex.
  • “Market Conditions Improving”, with Video being cited as the big driver I still would like to see someone somewhere step up to the plate and quantify this effect. Without data this is another “internet traffic doubling every 9 months” type of proclamation

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PMC-Sierra Adjusts Channel Accounting

image In a trend I expect to snowball, PMC-Sierra (PMCSannounced they will begin using sell-through accounting as opposed to sell-in accounting with distributors. This is a trend which traces it’s origins back to the accounting issues at Vitesse Semiconductor (VTSS.PK). (see “The Trickle Down Economics of Channel Stuffing“)

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