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Previous: PMC SIERRA INC, 8-K, 1998-06-03 |
Next: STATE STREET RESEARCH MONEY MARKET TRUST, N-30D, 1998-06-03 |
----------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 10-Q/A
[X] Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
for the quarterly period ended March 29, 1998
[ ] Transition report pursuant to Section
13 or 15(d) of the Securities Exchange
Act of 1934.
For the Transition Period From ___ to ___
Commission File Number 0-19084
PMC-Sierra, Inc.
(Exact name of registrant as specified in its charter)
A Delaware Corporation - I.R.S. NO. 94-2925073
105-8555 BAXTER PLACE
BURNABY, BRITISH COLUMBIA, V5A 4V7
CANADA
Telephone (604) 415-6000
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such period that the registrant was required to
file such reports), and (2) has been subject to such filing requirements for the
past 90 days.
Yes ___X____ No _______
Common shares outstanding at March 29, 1998 - 30,139,902
-----------------------------------------------
<PAGE>
EXPLANATORY NOTE
This amendment amends the Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on May 7, 1998 by the Registrant.
Exhibit number 27 has been amended.
INDEX
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
27.1 Financial Data Schedule for 1997
27.2 Financial Data Schedule for 1996
27.3 Financial Data Schedule for 1995
SIGNATURES
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 thereunto duly authorized.
PMC-SIERRA, INC.
(Registrant)
Date: June 3, 1998 /S/ JOHN W. SULLIVAN
------------ --------------------
John W. Sullivan
Vice President, Finance
Chief Financial Officer (Principal
Accounting Officer)
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF PMC-SIERRA, INC. AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-28-1997 DEC-28-1997 DEC-28-1997 DEC-28-1997
<PERIOD-START> DEC-30-1996 DEC-30-1996 DEC-30-1996 DEC-30-1996
<PERIOD-END> MAR-30-1997 JUN-30-1997 SEP-30-1997 DEC-28-1997
<CASH> 46,828 40,844 22,358 27,906
<SECURITIES> 4,955 14,123 44,702 41,334
<RECEIVABLES> 15,022 17,746 11,352 16,173
<ALLOWANCES> 816 791 1,082 1,070
<INVENTORY> 6,491 4,011 2,670 3,199
<CURRENT-ASSETS> 75,351 80,709 83,578 93,500
<PP&E> 41,477 34,730 37,067 35,025
<DEPRECIATION> 26,596 18,282 19,792 15,326
<TOTAL-ASSETS> 134,797 144,256 147,457 149,378
<CURRENT-LIABILITIES> 42,592 42,570 36,279 34,905
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 138,017 139,364 142,539 30
<OTHER-SE> (78,396) (69,464) (62,174) (90,535)
<TOTAL-LIABILITY-AND-EQUITY> 134,797 144,256 147,457 149,378
<SALES> 33,574 67,638 95,453 127,166
<TOTAL-REVENUES> 33,574 67,638 95,453 127,166
<CGS> 9,851 19,464 25,522 33,065
<TOTAL-COSTS> 9,851 19,464 25,522 33,065
<OTHER-EXPENSES> 12,341 24,263 35,135 45,160
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 617 1,124 1,596 1,949
<INCOME-PRETAX> 11,307 24,068 35,284 49,985
<INCOME-TAX> 2,827 6,656 10,582 15,727
<INCOME-CONTINUING> 8,480 17,412 24,702 34,258
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 8,480 17,412 24,702 34,258
<EPS-PRIMARY> 0.28 0.56 0.80 1.10
<EPS-DILUTED> 0.27 0.54 0.76 1.05
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF PMC-SIERRA, INC. AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-29-1996 DEC-29-1996 DEC-29-1996 DEC-29-1996
<PERIOD-START> JAN-01-1996 JAN-01-1996 JAN-01-1996 JAN-01-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-29-1996 DEC-29-1996
<CASH> 27,568 20,994 20,101 35,038
<SECURITIES> 4,038 1,050 6,969 7,024
<RECEIVABLES> 42,569 40,205 24,440 14,749
<ALLOWANCES> 0 0 0 842
<INVENTORY> 22,846 30,417 12,953 9,232
<CURRENT-ASSETS> 99,604 96,064 66,925 68,305
<PP&E> 51,373 55,017 47,922 42,861
<DEPRECIATION> 28,723 31,191 33,454 26,183
<TOTAL-ASSETS> 186,082 183,288 126,897 129,914
<CURRENT-LIABILITIES> 69,045 57,934 65,166 47,867
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 121,476 123,656 131,930 135,320
<OTHER-SE> (29,901) (22,703) (95,997) (86,876)
<TOTAL-LIABILITY-AND-EQUITY> 186,082 183,288 126,897 129,914
<SALES> 64,396 117,418 152,144 188,371
<TOTAL-REVENUES> 64,396 117,418 152,144 188,371
<CGS> 34,107 59,464 80,400 94,948
<TOTAL-COSTS> 34,107 59,464 80,400 94,948
<OTHER-EXPENSES> 17,071 33,798 120,737 132,494
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> (360) (497) (529) 1,278
<INCOME-PRETAX> 13,578 24,653 (48,464) (38,392)
<INCOME-TAX> 4,752 8,629 8,806 9,758
<INCOME-CONTINUING> 8,826 16,024 (57,270) (48,150)
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 8,826 16,024 (57,270) (48,150)
<EPS-PRIMARY> 0.30 0.55 (1.94) (1.62)
<EPS-DILUTED> 0.29 0.52 (1.94) (1.62)
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF PMC-SIERRA, INC. FOR THE PERIOD ENDED
DECEMBER 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-02-1995
<PERIOD-END> DEC-31-1995
<CASH> 41,933
<SECURITIES> 4,004
<RECEIVABLES> 40,401
<ALLOWANCES> 1,081
<INVENTORY> 14,843
<CURRENT-ASSETS> 109,913
<PP&E> 49,375
<DEPRECIATION> 26,671
<TOTAL-ASSETS> 184,860
<CURRENT-LIABILITIES> 77,172
<BONDS> 0
0
0
<COMMON> 119,758
<OTHER-SE> (38,758)
<TOTAL-LIABILITY-AND-EQUITY> 184,860
<SALES> 188,724
<TOTAL-REVENUES> 188,724
<CGS> 97,110
<TOTAL-COSTS> 97,110
<OTHER-EXPENSES> 64,103
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 892
<INCOME-PRETAX> 34,708
<INCOME-TAX> 10,732
<INCOME-CONTINUING> 23,976
<DISCONTINUED> (22,497)
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,479
<EPS-PRIMARY> 0.06
<EPS-DILUTED> 0.05
</TABLE>
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