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Tundra releases Q1-fiscal 2006 financial results
Tundra releases Q1-fiscal 2006 financial results.
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\n\nOTTAWA, ON, Aug. 30 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), the leader in System Interconnect, today reported financial results\nfor the first quarter of fiscal 2006, which ended July 31, 2005.\n\nQ1-2006 RESULTS:\n\n- Q1-2006 revenue of $18.2M (up 6% quarter-over-quarter but down 20%\n compared to Q1-2005)\n- Pro forma earnings of $1.8M (up from $1.4M in Q4-2005 but down\n compared to pro forma earnings of $3.8M in Q1-2005)\n- Pro forma diluted earnings per share were $0.09 (up compared to\n pro forma diluted earnings per share of $0.07 in Q4-2005 but down\n compared to pro forma diluted earnings per share of $0.19 in Q1-2005)\n- GAAP earnings for Q1-2006 were $1.0M or $0.05 per diluted share\n (up compared to $641K or $0.03 per diluted share in Q4-2005)\n\n\"We are pleased with the performance in the quarter, with the return of\nsequential revenue growth and with the solid earnings results,\" said\nJim Roche, President and CEO of Tundra. \"We are also encouraged by the\ncustomer interest and early revenue traction for our recently launched new\nproducts, which indicates that our product roadmaps are well positioned to\nachieve our future growth objectives.\"\n\"Revenues for the quarter were above guidance, while margins remained\nsteady, as expected,\" said Norm Paquette, Chief Financial Officer of Tundra.\n\"We continue to deliver solid earnings, balancing the investments to drive\nfuture growth, with the financial discipline to deliver on our short term\ncommitments.\"\n\nGUIDANCE FOR Q2-2006:\n\n- Revenue will remain steady in the range of $17.0M to $18.5M\n- Pro forma diluted earnings per share will be in the range of $0.07 to\n $0.10\n- Gross margins will remain in the low-to-mid sixties\n\nNEW PRODUCTS\n\nFollowing closely after the launch of the Tsi108(TM) in March, Tundra\nannounced the addition of the Tsi108A(TM) to its family of host bridges for\nPowerPC(R). The Tsi108A, an advanced host bridge with patent-pending\ntechnology, offers multiprocessor support with power management and integrated\nfeatures such as spread spectrum clock generation and DDR2 memory support. It\nis the ideal companion chip for both Freescale MPC74xx and IBM PPC 750xx\nPowerPC processors. With a decade of investment and expertise in PowerPC,\nTundra's current portfolio of host bridges delivers industry-leading sy...