March 5, 2009 / 10:48 PM / 9 years ago

UPDATE 1-Linamar posts loss as auto production slumps

* Q4 share loss C$0.04 vs EPS C$0.36

* Revenue C$476.7 mln vs C$528.1 mln

* Cuts dividend to C$0.03

TORONTO, March 5 (Reuters) - Auto parts maker Linamar Corp (LNR.TO) reported a quarterly loss on Thursday as volumes at U.S. automakers fell sharply, hammering the company’s revenue.

Linamar, which makes precision automotive components for engines and transmissions, lost C$2.6 million ($2 million), or 4 Canadian cents a share, in the fourth quarter, ended Dec. 31. That was down from a profit of C$25.4 million, or 36 Canadian cents a share, a year earlier.

Analysts had expected, on average, a loss of 1 Canadian cent a share, according to Reuters Estimates.

The company declared a dividend of 3 Canadian cents a share, half of what it declared for the third quarter of 2008.

Guelph, Ontario-based Linamar said that losses from continuing operations were C$8.8 million in the quarter, compared with earnings of C$25 million in the 2007 period.

Sales fell to C$476.7 million from C$528.1 million, primarily due to volume reductions by General Motors Corp (GM.N), Chrysler [CBS.UL] and Ford Motor Co (F.N).

Linamar has plants and offices in Canada, the United States, Mexico, Asia, Britain and continental Europe.

The company reported its results after market close. Its shares ended the day up 1 Canadian cent at C$3.00 on the Toronto Stock Exchange.

$1=$1.29 Canadian Reporting by John McCrank; editing by Rob Wilson

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