June 3, 2009 / 8:55 PM / 9 years ago

UPDATE 1-Tundra loss grows after break fee paid to Gennum

* Q4 loss C$0.27/shr vs year-earlier loss C$0.20/shr

* Loss includes C$5 mln break fee paid to Gennum

* Revenue drops to C$15.5 million in quarter (Adds details)

TORONTO, June 3 (Reuters) - Intellectual property firm Tundra Semiconductor posted a bigger quarterly loss on Wednesday as it paid a C$5 million ($4.5 million) break-up fee to Gennum Corp GND.TO, whose takeover bid for Tundra was trumped by a bigger offer.

Tundra said it lost C$5.3 million, or 27 Canadian cents a share, in the three months ended April 30. That was up from its loss of C$3.9 million, or 20 Canadian cents a share, a year earlier.

The quarter’s loss included the break fee that Tundra paid to Gennum after U.S. chipmaker Integrated Device Technology (IDTI.O) offered about C$120.8 million to buy Tundra. Gennum’s last offer for Tundra was worth about C$112 million.

The deal with IDT will be voted on by shareholders at a special meeting scheduled for June 15, Tundra said on Wednesday.

Ottawa-based Tundra said its total revenue in the quarter fell to C$15.5 million from C$17.9 million a year earlier.

The company released its results after markets closed. Its shares fell 1 Canadian cent to close at C$6.22 on the Toronto Stock Exchange on Wednesday.

$1=$1.11 Canadian Reporting by Wojtek Dabrowski; editing by Peter Galloway

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