October 13, 2009 / 9:28 PM / 8 years ago

UPDATE 1-EXFO Electro-Optical posts Q4 loss, sees weak Q1

* Q4 loss/shr $0.02

* Revenue falls 28 pct

* Sees Q1 sales $40 mln to $45 mln

* Sees Q1 loss/shr $0.02 to $0.06

Oct 13 (Reuters) - Canada’s EXFO Electro-Optical Engineering Inc (EXF.TO) posted a quarterly loss, hurt by restructuring charges and lower sales volume caused by the recession, and forecast a first-quarter loss.

For the fourth quarter ended Aug. 31, the company reported a loss of $1.2 million, or 2 cents a share, compared with net income of $3.3 million, or 5 cents a share, a year earlier.

Sales declined 28 percent to $36.5 million.

    Analysts on average were expecting loss of 5 cents a share, on revenue of $36.5 million, according to Thomson Reuters I/B/E/S.

    The company said its fourth quarter included $1.2 million in restructuring charges and $1.1 million in amortization of intangible assets.

    For the first quarter of 2010, EXFO expects a net loss of 2 cents to 6 cents a share on sales of $40 million to $45 million.

    Shares of the Quebec-based company closed at C$3.80 Tuesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Pradeep Kurup)

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