Tundra Semiconductor Corp. has reported fourth-quarter earnings of USD 6.8 million, or 35 cents a share, compared with USD 641,000 or USD 3 cents a share. Revenue for the quarter increased 10 percent to USD 19 million from the year-ago quarter.
The company its pro-forma earnings for the quarter were 13 cents, up from 7 cents in the year-ago quarter.
For the forthcoming first quarter the company expects pro forma earnings per share in the range of USD 9 cents to 15 cents a share. It expects the first quarter revenue to grow between USD 21 million and USD 23.5 million.
The company also announced that its Chief Financial Officer Norm Paquette has resigned to pursue other opportunities. He will continue in his current role until the new CFO has been hired and he will assist Tundra in identifying his successor.
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