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Tundra Semiconductor releases Q2-fiscal 2006 financial results
Tundra Semiconductor releases Q2-fiscal 2006 financial results.
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\n\nCompany Continues to Capitalize on Leadership Position in RapidIO(R) \nMarket\n\nOTTAWA, ON, Nov. 30 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), the leader in System Interconnect, today reported financial results\nfor the second quarter of fiscal 2006, which ended October 30, 2005.\n\nQ2-2006 RESULTS:\n\n- Q2-2006 revenue of $18.6M (up 2% quarter-over-quarter; down 18%\n compared to Q2-2005)\n- Pro forma earnings of $2.2M (up from $1.8M in Q1-2006; down from $3.8M\n in Q2-2005)\n- Pro forma diluted earnings per share were $0.11 (up from $0.09 in\n Q1-2006; down from $0.19 in Q2-2005)\n- GAAP earnings for Q2-2006 were $1.4M or $0.07 per diluted share (up\n from $1.0M or $0.05 per diluted share in Q1-2006)\n\n\"Business was strong in the quarter and we're pleased with sequential\nrevenue growth and solid earnings results as we maintain our investments in\nnext-generation products,\" said Jim Roche, President and CEO of Tundra. \"Our\nleadership position has been strengthened in our target markets with\nincreasing momentum behind newly launched products and design support tools.\nWe continue to broaden our product line, offering customers greater\narchitectural scalability for a wide range of solutions that optimize\nperformance, power efficiency, and cost - all key product attributes required\nfor next-generation systems.\"\n\"We're pleased to report a second strong quarter of revenue at the high\nend of our guidance,\" said Norm Paquette, Chief Financial Officer of Tundra.\n\"Our solid earnings are a reflection of a continued balanced approach to\noverall financial discipline and margin control, while delivering on our short\nterm commitments and investing for future growth.\"\n\nGUIDANCE FOR Q3-2006:\n\n\"We anticipate significant growth over the long term from our recently\nintroduced host bridges for PowerPC(R) and serial RapidIO product lines,\" said\nJim Roche, President and CEO of Tundra. \"In the interim, we expect increased\nvariability in our quarterly revenues.\"\n\n- Revenue will be in the range of $17.0M to $19.0M\n- Pro forma diluted earnings per share will be in the range of $0.08 to\n $0.11\n- Gross margins will be in the mid sixties\n\nLEADERSHIP IN RAPIDIO\n\nTundra continues to lead in the development of the RapidIO standard and\nis the first to bring parallel and serial RapidIO switche...