OTTAWA -- Canada's Tundra Semiconductor Corp. here reported a 47% sequential drop in revenues to $5.2 million in the company's fiscal second quarter, ended Oct. 28, compared to $9.8 million in the prior fiscal quarter. Tundra's sales fell 68% from $9.6 million in the fiscal Q2 period last year.
As a result, Tundra posted a net loss of $1.9 million in the just-ended fiscal second quarter, compared to a net income of $177,000 in the prior three-month period and earnings of $2.1 million in the quarter last year.
"While conditions in the quarter were difficult, results were consistent with our guidance," said Norm Paquette, chief financial officer of company, which supplies interconnect ICs for communications infrastructure systems. "We believe these results represent the bottom of the cycle as order cancellations decreased and the short term outlook was more positive.
"As we look to the next quarter, we anticipate our revenues to increase sequentially by 10% and 20%," Paquette added.
In the fiscal second quarter, Tundra launched products for its interconnect architecture supporting the RapidIO format, which is competing with the HyperTransport bus backed by Advanced Micro Devices Inc. (see Nov. 5 story).