June 1, 2009 / 10:18 PM / 9 years ago

UPDATE 1-EXFO Electro-Optical sees Q3 loss, lowers revenue view

* Had earlier forecast profit of $0.01 to $0.05/shr

June 1 (Reuters) - Canada’s EXFO Electro-Optical Engineering Inc (EXF.TO) forecast a third-quarter loss hurt by strengthening of the Canadian dollar and lowered its revenue outlook for the period.

For the quarter ended May 31, the company expects a net loss of 6 cents to 7 cents a share, compared with its earlier forecast of a profit of 1 cent to 5 cents a share.

EXFO said the third quarter was marked by a 16.4 percent decrease in the value of the U.S. dollar versus the Canadian dollar.

This fluctuation will lead to a pre-tax foreign-exchange loss of about $5 million, or 8 cents a share, and hurt operating expenses and cost of goods sold, the company said.

EXFO said it expects third-quarter revenue of $43 million to $44 million, slightly below the range it forecast earlier, due to the global economic recession.

Shares of the company closed at C$5.08 Monday on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore; Editing by Vinu Pilakkott)

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