News Article
Tundra Semiconductor shares down
Shares of Tundra Semiconductor Corporation, a maker of telecom system interconnect equipment, have fallen after the Ottawa company warned it will generate lower than expected profits and revenues for its latest quarter because of weakening markets and the impact of a stronger Canadian dollar.
Tundra shares fell 24 cents to $6.75, a drop of 3.4 %.
Tundra said the slowed deployment of new wireless infrastructure is hurting the sale of Tundra's new communications products, although demand for the company's computing-storage products are in line with expectations for the quarter.
The strengthening of the Canadian dollar also continues to hurt Tundra's bottom line, since the company's revenue is generated in U.S. dollars but reported in Canadian dollars on the balance sheet.
