Gennum Corp., Toronto symbol GND, makes equipment for TV broadcasters that stores, manipulates and transfers video signals. It also makes chips that make computer networks work more quickly.
On April 6, 2011, Gennum acquired Nanotech Semiconductor Limited for $35.9 million. Based in Bristol, U.K., Nanotech designs chips for high-speed communication networks.
In its 2011 second quarter, which ended May 31, 2011, Gennum earned $3.6 million, or $0.10 per share, down 12.5% from $4.1 million, or $0.12 per share, a year earlier (all amounts except share price in U.S. dollars). The drop was due mainly to the costs of the Nanotech acquisition. However, the Canadian stock pick’s sales rose 8.7%, to $34.4 million from $31.7 million. That’s entirely due to the Nanotech purchase, which added $2.2 million to Gennum’s sales.
Gennum is a dividend paying stock. Its annual dividend rate of $0.14 a share (Canadian) yields 2.0%. The company spends a high 31% of its sales on research.
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