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Tundra Semiconductor Reports Q3-Fiscal 2006 Financial Results
Tundra Semiconductor Reports Q3-Fiscal 2006 Financial Results.
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[{"type":"text","content":"\n\n\n\n\nOTTAWA, March 2 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), the leader in System Interconnect, today reported financial results\nfor the third quarter of fiscal 2006, which ended January 29, 2006.\n\nQ3-2006 RESULTS:\n\n- Q3-2006 revenue of $18.7M (up slightly quarter-over-quarter; up 9%\n compared to Q3-2005)\n- Pro forma earnings of $2.3M (up slightly quarter-over-quarter; up 54%\n compared to Q3-2005)\n- Pro forma diluted earnings per share were $0.11 (no change from $0.11\n in Q2-2006; up from $0.07 in Q3-2005)\n- GAAP earnings for Q3-2006 were $1.5M or $0.08 per diluted share (up\n from $1.4M or $0.07 per diluted share in Q2-2006)\n\n\"Q3 was another good quarter with continued profitability growth and\npositive customer reaction to our recently launched products,\" said Jim Roche,\nPresident and Chief Executive Officer of Tundra. \"We are seeing increased\ndesign win activity across a range of applications in our key markets. Our\nproduct leadership combined with the expansion of our product portfolio is\ncreating a solid base to achieve our growth targets.\"\n\"We're pleased to report a third quarter of strong profitability and\ngross margins,\" said Norm Paquette, Chief Financial Officer of Tundra. \"Our\nsolid earnings are a reflection of our business model which includes a\nbalanced approach to strategic investment in a discipline framework; allowing\nTundra to build for future growth.\"\n\nGUIDANCE FOR Q4-2006:\n\n- Revenue will be in the range of $17.5M to $19.5M\n- Pro forma diluted earnings per share will be in the range of $0.08 to\n $0.12\n- Gross margins will be in the mid-to-high sixties\n\nLeadership in RapidIO(R) System Interconnect\n\nTundra recently announced that the Company has established the world's\nfirst RapidIO Interoperability Lab (RIOLAB(TM)) for interoperability and\nspecification compliance testing. Leveraging its depth of expertise,\ntechnology leadership and commitment to drive the commercialization of RapidIO\ntechnology, Tundra has served as the test facility for members of the\necosystem and OEMs alike, resulting in the development of proven test scripts\nand making the formalization of the RIOLAB a natural evolution. Operating as\nan independent facility, the RIOLAB will produce impartial test results\nfacilitating seamless integration of multi-vendor components an...