PMC-Sierra Inc. warned that it would miss its earlier guidance on third-quarter sales. The company now expects revenue of $71 million to $73 million rather than its earlier guidance of $86 million to $92 million.

PMC-Sierra said reductions in the planned deployment rates of DSL equipment by Asian service providers for the second half of 2004 had cut customer demand. It also said improved availability of semiconductor components had allowed customers to cut inventory levels. The company said that is causing a reduction in semiconductor orders below the current consumption rates.

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