Shares of Ottawa chip maker Tundra Semiconductor soared in Thursday's trading session as investors took heart from its Q2 results released the evening before.
By noon the stock gained almost 24 per cent, or $1.35, to reach $7.
After Wednesday's close, the company reported a 59 per cent increase in revenue from the year before to $8.3 million.
For the third quarter revenues are expected to be flat with the second quarter, but tighter expense controls are expected result in a break even result for earnings.
In Q2, Tundra lost two cents a share, on a pro forma basis.
Mosaid Technologies, which reported less impressive Q2 results Thursday morning, was also up strongly, gaining 9.5 per cent, or 55 cents, to hit $6.36.
Mosaid reported revenues of $7.93 million, short of its guidance of $8.1 million to $9.1 million. In last year's Q2, revenues totaled $11.13 million.
CFO and senior VP of finance Richard Boadway offered a more upbeat picture for the third quarter, with revenues expected between $9.8 million and $11.3 million.
Secure documents maker Canadian Bank Note co., which reported its latest quarterly results Wednesday morning, was up 9.8 per cent, or 20 cents, to $2.25 by noon.
CBN reported stronger profits for its third quarter and improved margins for the first nine months of the year despite weaker revenues.
The gains in some part stemmed from broad market rally underway in the morning session that was fuelled by strong fiscal results from Hewlett-Packard south of the border and solid economic data in this country from Statistics Canada for inflation and wholesale trade.
By noon the stock gained almost 24 per cent, or $1.35, to reach $7.
After Wednesday's close, the company reported a 59 per cent increase in revenue from the year before to $8.3 million.
For the third quarter revenues are expected to be flat with the second quarter, but tighter expense controls are expected result in a break even result for earnings.
In Q2, Tundra lost two cents a share, on a pro forma basis.
Mosaid Technologies, which reported less impressive Q2 results Thursday morning, was also up strongly, gaining 9.5 per cent, or 55 cents, to hit $6.36.
Mosaid reported revenues of $7.93 million, short of its guidance of $8.1 million to $9.1 million. In last year's Q2, revenues totaled $11.13 million.
CFO and senior VP of finance Richard Boadway offered a more upbeat picture for the third quarter, with revenues expected between $9.8 million and $11.3 million.
Secure documents maker Canadian Bank Note co., which reported its latest quarterly results Wednesday morning, was up 9.8 per cent, or 20 cents, to $2.25 by noon.
CBN reported stronger profits for its third quarter and improved margins for the first nine months of the year despite weaker revenues.
The gains in some part stemmed from broad market rally underway in the morning session that was fuelled by strong fiscal results from Hewlett-Packard south of the border and solid economic data in this country from Statistics Canada for inflation and wholesale trade.
