Tundra Semiconductor Q3 net loss narrows

Fri. March 06, 2009; Posted: 09:26 AM

Mar 06, 2009 (Datamonitor via COMTEX) -- TRSCF | Quote | Chart | News | PowerRating -- Tundra Semiconductor has reported a net loss of C$1.11 million, or C$0.06 per diluted share, for the third quarter ended February 1, 2009, compared to a net loss of C$54.02 million, or C$2.73 per diluted share, for the corresponding quarter ended January 27, 2008.

For the third quarter of fiscal 2009, total revenue was C$14.63 million, compared to C$14.72 million for the same quarter of fiscal 2008.

For the first nine months of fiscal 2009, total revenue was C$50.89 million, compared to C$52.67 million for the same period of fiscal 2008. Net income for the first nine months of 2009 was C$1.06 million, or C$0.05 per diluted share, compared to a net loss of C$55.71 million, or C$2.8 per diluted share, for the same period of fiscal 2008.

Daniel Hoste, president and CEO of Tundra Semiconductor, said: "Third quarter results were within the guidance we provided at the close of the second quarter. Quarter over quarter, our cash position increased by more than $1 million and we generated more than $2 million in cash from operations during the quarter. Our cash position at the close of the quarter was more than $63 million and we remain debt free."

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