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Tundra Semiconductor Updates Guidance for Second Quarter
Tundra Semiconductor Updates Guidance for Second Quarter.
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\nOTTAWA, Oct. 23 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), a leader in System Interconnect, today announced revised guidance\nfor the second quarter of fiscal 2008, which ends October 28, 2007.\n\n\nRevenue is expected to be in the range of $17.0 million to $18.0 million\nand pro forma diluted earnings per share are expected to be in the range of\n$0.00 to $0.04. At the close of the first fiscal 2008 quarter, the Company\nprovided revenue guidance in the range of $19.0 million to $22.0 million and\npro forma earnings per share guidance in the range of $0.05 to $0.09. The\nrevised guidance is the result of two factors; softening of the communications\nmarket segment and strengthening of the Canadian dollar.\n\n\nSoftening of the overall communications infrastructure market is\nimpacting the demand for all products that serve this market segment.\nSpecifically, the slowed deployment of new wireless infrastructure is\nimpacting the ramp of Tundra's new communications products. Demand for the\nCompany's computing-storage products are in line with expectations for the\nquarter.\n\n\nThe strengthening of the Canadian dollar also continues to put pressure\non Tundra's quarterly financial results. As the Company's revenue is generated\nin US dollars and subsequently reported in Canadian dollars, the USD/CAD\ndollar exchange rate has had a progressively negative impact on the Company's\nfinancial results for several quarters.\n\n\n"We believe our mid to long term growth strategy is solid and we will\ncontinue to focus on its execution. Presently however, Tundra's revenues are\nimpacted by the current end market environment. Although short-term visibility\nis limited we are confident in our long-term financial growth projections as\nour new product lines come to market" said Daniel Hoste, Tundra Semiconductor\nPresident and Chief Executive Officer.\n\n\nOn Thursday November 29th at 5 pm EST, the Company will provide further\nfinancial detail during its second quarter financial conference call, as well\nas guidance for the third quarter.\n\n\nAbout Tundra\n\n\nTundra Semiconductor Corporation (TSX:TUN) supplies the world's leading\ncommunications, computing and storage companies with smart System Interconnect\nproducts and design services backed by world-class customer service and\ntechnical support. Tund...