January 28, 2010 / 10:45 PM / in 8 years

UPDATE 1-Canada's Zarlink Q3 profit plunges

* Q3 EPS breakeven vs $0.08 last year

* Q3 revenue up 1 pct

* Sees Q4 adj EPS $0.02-$0.04 vs est $0.04

* Sees Q4 rev $56 mln-$58 mln vs est $53.7 mln

Jan 28 (Reuters) - Zarlink Semiconductor Inc’s ZL.TO third-quarter profit plunged 95 percent, hurt by a non-cash foreign exchange charge, and the Canadian firm forecast a fourth-quarter profit range whose lower end was below market estimates.

For the fourth quarter, Zarlink expects to earn between 2 cents and 4 cents, excluding items, on revenue of $56 million to $58 million.

Analysts on average were expecting earnings of 4 cents a share, before items, on revenue of $53.7 million, according to Thomson Reuters I/B/E/S.

In the third quarter, the company earned $631,000, or breakeven per share, down from $12.1 million, or 8 cents a share, a year earlier.

Zarlink said it was hit by a $2.7 million loss related to its Canadian dollar-denominated debenture.

Excluding items, the company earned 4 cents a share.

Revenue rose by a percent to $54.4 million.

Analysts on average expected earnings of 3 cents a share, before items, on revenue of $53.4 million.

Shares of the company were closed down 5 percent at C$1.06 Wednesday on the Toronto Stock Exchange.

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