Citing the rapid decline in the value of the U.S. dollar, Zarlink Semiconductor lowered financial guidance for its fiscal quarter ending December 24, 2004. In October, Zarlink had projected revenues of between US$49 and US$52 million and a net loss of US$0.01 to US$0.03 per share. The company anticipates that revenues will be near the mid-point of guidance. However, company said the decline in the value of the dollar, coupled with higher than predicted costs for implementation of U.S. Sarbanes-Oxley Act section 404, is negatively impacting Zarlink’s cash and non-cash costs. As a result, the company now expects to record a net loss of US$0.05 to US$0.06 per share.
Zarlink is based in Ottawa, Canada.. http://www.zarlink.com
