Tundra Semiconductor reports Q3 loss of $1.1 million, revenue flat

OTTAWA - Tundra Semiconductor Corp. (TSX:TUN) said Wednesday that it lost $1.1 million in its most recent quarter as its revenue remained about flat.

The chipmaker said the loss amounted to six cents per diluted share for the three months ended Feb. 1 compared with a loss of $54 million or $2.73 per diluted share a year ago when the company took a $50.6-million charge to goodwill.

Revenue in what was the company's third quarter totalled $14.6 million, down from $14.7 million.

"Considering the current global economic environment we are satisfied with, but not complacent about, the results of the products business during the quarter," Tundra president and chief executive Daniel Hoste said in a statement.

In its outlook for its fourth quarter, the company said it expected revenue to be in a range from $13 million to $15.5 million and pro forma diluted earnings per share between a loss of four cents to a profit of a penny.

Shares in the company, which reported its results after the close of markets, were up 18 cents at $2.98 on the Toronto Stock Exchange on Wednesday