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Tundra posts Q4 fiscal 2006 results

Posted: 13 Jun 2006 ?? ?Print Version ?Bookmark and Share

Keywords:financial result? revenue? pro forma earning? Tundra? system interconnect?

Tundra Semiconductor Corp., a system interconnect provider, reported financial results for the final quarter of fiscal 2006, which ended April 30, 2006. The company's Q4 2006 revenue was at $19 million. This represents an increase of 1 percent quarter-over-quarter, and up 10 percent compared to Q4 2005.

According to Tundra, its pro forma earnings is at $2.6 million, representing a 15 percent increase quarter-over-quarter, and is said to be 92 percent higher compared to Q4 2005. Pro forma diluted earnings per share was at 13 cents, up from 11 cents in Q3 2006, and up from 07 cents in Q4 2005. GAAP earnings for Q4 2006 were $6.8 million or 35 cents per diluted shareup from $1.5 million or 8 cents in Q3 2006 and up from $641,000 or 3 cents in Q4 2005.

Tundra's fiscal year 2006 results are as follows: revenue is at $74.5 million, compared to $79.6 million in fiscal year 2005; 2006 pro forma earnings were $8.9 million compared to $10.4 million in fiscal year 2005; pro forma diluted earnings per share were 45 cents compared to 53 cents for the previous fiscal year; and GAAP earnings were $10.8 million or 55 cents per diluted share compared to $7.5 million or 38 cents for fiscal year 2005.

The company forecasts its revenue to grow to between $21 million and $23.5 million for Q1 2007. Pro forma diluted earnings per share will be in the range of 9 cents to 15 cents. Gross margins will be in the mid-to-high sixties.

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