May 26, 2009 / 8:54 PM / 9 years ago

UPDATE 1-Zarlink loss swells after goodwill writedown

* Q4 loss $0.41/shr vs $0.16/shr

* Books $47 mln goodwill impairment charge

* Q4 revenue $51.1 mln vs $54.8 mln (In U.S. dollars unless noted)

TORONTO, May 26 (Reuters) - Zarlink Semiconductor Inc ZL.TO posted a wider quarterly loss on Tuesday as it booked a $47 million goodwill writedown because of the impact the weak economy is having on business.

The Canadian tech firm said it lost $50 million, or 41 cents a share, in the three months ended March 27. That was worse than a loss of $19.1 million, or 16 cents a share, in the same quarter a year earlier.

Revenue fell to $51.1 million from $54.8 million a year earlier, the Ottawa-based chipmaker said.

It said the decision to take the goodwill charge was related to “adverse global economic conditions” and the harm they’ve inflicted on the revenue of its communications and optical units.

For the current first quarter of its fiscal 2010, Zarlink forecast revenue of between $52 million and $54 million, adding it expects to break even or earn 1 cent a share.

Zarlink released its results after markets closed. During the day, its shares gained 2 Canadian cents to close at 44.5 Canadian cents on the Toronto Stock Exchange.

$1=$1.12 Canadian Reporting by Wojtek Dabrowski; editing by Rob Wilson

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