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Tundra Posts Earnings

Tundra reported financial results for the second quarter of fiscal 2006, which ended October 30, 2005

November 30, 2005

1 Min Read

OTTAWA -- Tundra Semiconductor Corporation (TSX:TUN), the leader in System Interconnect, today reported financial results for the second quarter of fiscal 2006, which ended October 30, 2005.

Q2-2006 RESULTS:

  • Q2-2006 revenue of $18.6M (up 2% quarter-over-quarter; down 18% compared to Q2-2005)

  • Pro forma earnings of $2.2M (up from $1.8M in Q1-2006; down from $3.8M in Q2-2005)

  • Pro forma diluted earnings per share were $0.11 (up from $0.09 in Q1-2006; down from $0.19 in Q2-2005)

  • GAAP earnings for Q2-2006 were $1.4M or $0.07 per diluted share (up from $1.0M or $0.05 per diluted share in Q1-2006)

"Business was strong in the quarter and we're pleased with sequential revenue growth and solid earnings results as we maintain our investments in next-generation products," said Jim Roche, President and CEO of Tundra. "Our leadership position has been strengthened in our target markets with increasing momentum behind newly launched products and design support tools. We continue to broaden our product line, offering customers greater architectural scalability for a wide range of solutions that optimize performance, power efficiency, and cost - all key product attributes required for next-generation systems."

"We're pleased to report a second strong quarter of revenue at the high end of our guidance," said Norm Paquette, Chief Financial Officer of Tundra. "Our solid earnings are a reflection of a continued balanced approach to overall financial discipline and margin control, while delivering on our short term commitments and investing for future growth."

Tundra Semiconductor Corp.

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