* Says to pay $34 million for Nanotech
* Deal to add to adjusted earnings this year
* Q1 EPS $0.13 vs est $0.12
* Q1 rev up 7 pct to $31.5 mln
* Says evaluating impact of Japan quake on business
(Adds Japan quake impact on business in paragraph 4)
April 6 Gennum Corp posted a quarterly
profit above market estimates, helped by a slew of product
launches, and said it would acquire Nanotech Semiconductor for
$34 million in cash.
Gennum said it expects the Nanotech deal to add to its 2012
GAAP earnings, and to this year's adjusted earnings.
The intellectual property firm could also pay Nanotech,
which makes components for fiber optic communications markets,
an additional $6 million under an earn-out agreement based on
revenue targets over the next year.
Gennum also said it was evaluating the effects of
the earthquake in Japan on its business and that it might see
some near-term impact.
The company, which also designs semiconductor products for
the broadcast industry, added that its second-quarter order book
is trending at levels recorded at the same time in the first
Net income for the first quarter was $4.6 million, or 13
cents per share, compared with $4 million, or 12 cents per
share, a year ago.
Revenue rose 7 percent to $31.5 million.
Analysts on an average were expecting the company to earn 12
cents a share, on revenue of $32.6 million, according to Thomson
Shares of the Burlington, Ontario-based company closed at
C$7.60 on Wednesday on the Toronto Stock Exchange.
(Reporting by Abhiram Nandakumar in Bangalore; Editing by