May 21, 2008 / 8:43 PM / in 9 years

Zarlink loss widens on hit from sale of foundry

(In U.S. dollars unless noted)

TORONTO, May 21 (Reuters) - Zarlink Semiconductor Inc ZL.TO reported a wider fourth-quarter loss on Wednesday, as the Canadian computer chip maker took a hit on the sale of its money-losing foundry in England.

Zarlink said it lost $19.1 million, or 16 cents a share, in the three months ended March 28. That was worse than the loss of $900,000, or 1 cent a share, a year earlier.

The loss on the sale of the Swindon foundry, which Zarlink sold in February for 1 euro, was $18.2 million, it said.

Revenue in the quarter rose to $54.8 million from $32 million a year earlier, the Ottawa-based company said.

For the upcoming first quarter, it said it expects revenue between $59 million and $61 million. Excluding any impact of foreign exchange gains or losses, it said it expects net earnings to be roughly break-even.

Zarlink released its results after markets closed. During the day, its shares gained 1 Canadian cent to close at 78 Canadian cents on the Toronto Stock Exchange. ($1=$0.98 Canadian) (Reporting by Wojtek Dabrowski; editing by Rob Wilson)

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