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Tundra Semiconductor Reports Q4 FY09 and Fiscal 2009 Financial Results
Fourth Quarter Revenue within Guidance, Annual Revenue Down 6% Year-over-Year OTTAWA, June 3 /CNW...
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[{"type":"text","content":"\n\n\n\nFourth Quarter Revenue within Guidance, Annual Revenue Down\n\n\n6% Year-over-Year\n\n\nOTTAWA, June 3 /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 2009, and for the fiscal\nyear, which ended April 30, 2009.\n\n\nQ4-2009 RESULTS:\n\n\n- Q4 Revenue: $15.5 million\n\n\n- Q4 Pro forma earnings: $0.7 million\n\n\n- Q4 Pro forma diluted earnings per share: $0.04\n\n\n- Q4 GAAP results: loss of $5.3 million or $0.27 per diluted share\n\n\nRevenue for the fourth quarter of fiscal year 2009 was $15.5 million,\ncomprised of $14.5 million in product revenue and $1.0 million in services\nrevenue. Revenue for the Communications market segment was $9.5 million and\nfor the Computing/Storage market segment was $5.0 million in the fourth\nquarter. Overall quarterly revenue represents a 6% increase from the third\nquarter of fiscal year 2009 and a 13% decrease compared to the fourth quarter\nof fiscal year 2008. Pro forma earnings for the quarter were $0.7 million or\n$0.04 per diluted share, compared to earnings of $0.1 million or $0.00 per\ndiluted share in the third quarter of fiscal year 2009 and compared to $1.5\nmillion or $0.07 per diluted share in the fourth quarter of fiscal year 2008.\nGAAP loss for the quarter was $5.3 million or $0.27 per diluted share,\ncompared to a loss of $1.1 million or $0.06 per diluted share in the third\nquarter of fiscal year 2009, and a loss of $3.9 million or $0.20 per diluted\nshare in the fourth quarter of fiscal year 2008. The GAAP loss in the fourth\nquarter was impacted by a $5.0 million "break fee" paid to Gennum pursuant to\nthe arrangement agreement entered into on March 19th 2009, and the pending\nacquisition agreement entered into with IDT on April 30, 2009.\n\n\nFiscal Year 2009 RESULTS:\n\n\n- FY2009 Revenue: $66.4 million\n\n\n- FY2009 Pro forma earnings: $4.3 million\n\n\n- FY2009 Pro forma diluted earnings per share: $0.22\n\n\n- FY2009 GAAP Results: loss of $4.2 million or $0.22 per diluted share\n\n\nRevenue for fiscal year 2009 was $66.4 million, a 6% decrease over fiscal\nyear 2008. Product revenue for the fiscal year was $60.3 million and Services\nrevenue for the year was $6.1 million. The Communications market segmen...