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Tundra Semiconductor Reports Third Quarter Fiscal Year 2007 Financial Results - Revenue Increases by 16% Year-Over-Year, Pro Forma Earnings up 34%
Tundra Semiconductor Reports Third Quarter Fiscal Year 2007 Financial Results - Revenue Increases by 16% Year-Over-Year, Pro Forma Earnings up 34%.
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\nOTTAWA, March 1 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), the leader in System Interconnect, today reported financial results\nfor the third quarter of fiscal year 2007, which ended January 28, 2007.\n\n\n- Q3 Revenue: $21.7 million\n\n\n- Q3 Pro forma earnings: $3.0 million\n\n\n- Q3 Pro forma diluted earnings per share: $0.15\n\n\n- Q3 GAAP Results: earnings of $1.3 million or $0.06 per diluted share\n\n\nRevenue for the third quarter of fiscal year 2007 was $21.7 million, a\n16% increase over the third quarter in fiscal year 2006, and a 1% decrease\nfrom the second quarter of fiscal year 2007. Pro forma earnings of\n$3.0 million represent a 34% increase compared to the third quarter of fiscal\nyear 2006, and a 26% increase over the second quarter of fiscal year 2007. Pro\nforma diluted earnings per share of $0.15 were at the top of range of the\nCompany's per share earnings guidance for the quarter of $0.11 to $0.15. GAAP\nearnings for the quarter were $1.3 million or $0.06 per diluted share, down\nfrom earnings of $1.5 million or $0.08 in the third quarter fiscal year 2006,\nup from a loss of $0.2 million or $0.01 per diluted share in the second\nquarter in fiscal year 2007.\n\n\n"Tundra delivered exceptional profit growth in the third quarter and\nrevenue continued to gain on a year-over-year basis. Tundra overcame continued\nvolatility in communications infrastructure, one of the key markets that the\nCompany serves. Tundra's core business remains strong with multiple products\nin the PCI and HyperTransport(TM) product lines moving into production in the\nquarter and good momentum behind the roll out of new products," said Daniel\nHoste, President and Chief Executive Officer, Tundra Semiconductor. "Today we\nannounced another significant RapidIO(R) achievement and another industry\nfirst. Tundra has entered into a partnership with Enea, a leading provider of\nnetwork software and services, to deliver the first RapidIO-based system level\nsoftware for the wireless communications infrastructure market. Tundra\ncontinues to deliver innovative solutions in response to growing demands from\nthe RapidIO ecosystem."\n\n\n"Additionally, with engineering samples now ready to ship to lead\ncustomers, we are on track for the upcoming launch of our first PCI Express\nBridge," add...