2 Min Read
* Q2 EPS breakeven vs $0.05/shr last year
* Revenue falls 13 pct
* Sees Q3 adj EPS $0.01- $0.03 vs est. $0.03
* Sees Q3 rev $52 mln- $54 mln vs est. $54.4 mln
Oct 28 (Reuters) - Canada's Zarlink Semiconductor Inc ZL.TO posted lower quarterly results, hurt by a non-cash foreign exchange charge, and provided third-quarter revenue view below estimates.
Zarlink said it expects to earn between 1 cent to 3 cents, excluding items, in the third quarter. The company expects revenue between $52 million and $54 million.
Analysts on average were expecting earnings of 3 cents a share, before items, on revenue of $54.4 million, according to Thomson Reuters I/B/E/S
For the latest second quarter, the company posted net income of $720,000, breakeven a share, compared with $7.2 million, or 5 cents a share, in the year-ago period. Excluding items, it earned 4 cents a share.
Zarlink said it was stung by a $3 million charge related to its Canadian dollar-denominated debenture.
Revenue fell 13 percent to $53.6 million.
Analysts on average expected earnings of 3 cents a share, before items, on revenue of $53.3 million.
The company said it remains well positioned for continued growth based on its cost-cutting initiatives, combined with increasing demand for new medical wireless and next-generation timing products and strong relationships with customers in emerging markets.
Shares of the comany closed at 87 Canadian cents Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Unnikrishnan Nair) ((email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))