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Tundra Semiconductor Reports Fourth Quarter Fiscal Year 2008 Financial Results
Revenue Increases 22% over Third Quarter OTTAWA, June 5 /CNW Telbec/ - Tundra Semiconductor Corpo...
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\nRevenue Increases 22% over Third Quarter\n\n\nOTTAWA, June 5 /CNW Telbec/ - Tundra Semiconductor Corporation (Tundra,\nor "the Company") (TSX:TUN), a leader in System Interconnect, today reported\nfinancial results for the fourth quarter of fiscal 2008, which ended April 30,\n2008.\n\n\nQ4-2008 RESULTS:\n\n\n- Q4 Revenue: $17.9 million\n\n\n- Q4 Pro forma earnings: $1.5 million\n\n\n- Q4 Pro forma diluted earnings per share: $0.07\n\n\n- Q4 GAAP Results: loss of $3.9 million or $0.20 per diluted share\n\n\nRevenue for the fourth quarter of fiscal year 2008 was $17.9 million,\ncomprised of $8.6 million in the Communications market segment, $6.4 million\nin the Computing/Storage market segment, and $2.9 million in Design Services.\nQuarterly revenue represents a 22% increase from the third quarter of fiscal\nyear 2008 and a 19% decrease over the fourth quarter in fiscal year 2007. Pro\nforma earnings for the quarter were $1.5 million, compared to earnings of\n$0.3 million in the third quarter of fiscal year 2008 and compared to\n$3.4 million in the fourth quarter of fiscal year 2007. GAAP loss for the\nquarter was $3.9 million or $0.20 per diluted share, compared to a loss of\n$54.0 million or $2.73 loss per diluted share in the third quarter in fiscal\nyear 2008, and earnings of $1.7 million or $0.08 per diluted share in the\nfourth quarter fiscal year 2007. The GAAP loss in the fourth quarter of fiscal\n2008 was driven by a $4.7 million write down of an intangible asset and the\nGAAP loss in the third quarter of fiscal 2008 was driven largely by a goodwill\nimpairment charge of $50.6 million.\n\n\nFiscal Year 2008 RESULTS:\n\n\n- FY2008 Revenue: $70.6 million\n\n\n- FY2008 Pro forma earnings: $4.6 million\n\n\n- FY2008 Pro forma diluted earnings per share: $0.23\n\n\n- FY2008 GAAP Results: loss of $59.6 million or $3.00 per diluted share\n\n\nRevenue for fiscal year 2008 was $70.6 million, a 17% decrease over\nfiscal year 2007. Pro forma earnings of $4.6 million represent a 57% decrease\ncompared to $10.8 million in fiscal year 2007. Pro forma diluted earnings per\nshare of $0.23 represent a 57% decrease compared to $0.54 in fiscal year 2007.\nFor the fiscal year, GAAP losses were $59.6 million or $3.00 per diluted\nshare, down from earnings of $2.0 million or $0.10 per diluted share in fiscal\nyear 2007.\n\n\n...