March 22, 2011 / 11:56 AM / in 7 years

CORRECTED-UPDATE 1-Hemisphere GPS Q4 misses Street on higher cost, weak dollar

(Corrects paragraph 4 to show that revenue rose, not fell)

* Q4 loss $0.07/shr vs est $0.00

* Rev $12.2 mln vs est $15.7 mln

March 22 (Reuters) - Canada’s Hemisphere GPS Inc posted a quarterly loss that missed analysts’ estimates of a break-even, hurt by a weak dollar and higher operating costs.

Hemisphere GPS, which competes with companies like Trimble Navigation Ltd and Canada-based NovAtel Inc, said expected original equipment manufacturing orders were deferred to the first half of 2011.

For the fourth quarter, the company reported a net loss of$3.8 million, or 7 cents a share, compared with a net loss of $2.5 million, or 4 cents a share, a year ago.

Revenue at the maker of GPS products for agriculture, marine and other markets rose slightly to $12.2 million.

Analysts on average were expecting a break-even, on revenue of $15.7 million, according to Thomson Reuters I/B/E/S.

Operating expenses were $8.9 million in the quarter, an increase of $1.5 million compared to last year.

Shares of Calgary, Alberta-based Hemisphere closed at C$1.37 on Monday on the Toronto Stock Exchange. (Reporting by NR Sethuraman; Editing by Sriraj Kalluvila)

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