October 28, 2010 / 9:26 PM / 8 years ago

UPDATE 1-Zarlink Semiconductor Q2 profit beats estimates

* Q2 adj EPS $0.06 vs est $0.05

* Revenue up 20 pct to $59.9 mln

* Sees Q3 EPS $0.03-$0.05 vs est $0.05

* Sees Q3 rev $54-58 mln vs est $58.7 mln

Oct 28 (Reuters) - Canadian chipmaker Zarlink Semiconductor Inc ZL.TO posted a quarterly profit that beat analysts’ estimates, but warned that inventory rebalancing across the supply chain could affect its growth in coming quarter. Zarlink, which has been sharpening its focus to target markets in network timing, implanted medical device and line circuit chips, said it sees adjusted earnings of 3-5 cents a share for the third quarter.

It sees revenue of $54-$58 million for the quarter.

Analysts expect the company to earn 5 cents a share on revenue of $58.7 million, according to Thomson Reuters I/B/E/S.

The Ottawa-based mixed-signal chipmaker earned $7.2 million, or 5 cents per share for July-September, compared with $720,000, or a breakeven per share, a year ago.

Excluding items, it earned 6 cents a share.

Revenue was up 20 percent at $59.9 million, as the company saw 37 percent rise in its communications products revenue.

Analysts on average expected the company to earn 5 cents a share, on revenue of $59 million.

Shares of the company, which have more than doubled their value this year, closed at C$2.17 Thursday on the Toronto Stock Exchange. They hit a 52-week high of C$2.24 earlier in the day. (Reporting by Ashutosh Joshi in Bangalore; Editing by Maju Samuel)

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