Date: 27/05/2009

Zarlink's fiscal 2009 report: yearly revenues up; slight fall in quarterly; losses rise

Zarlink Semiconductor has reported a year-over-year revenue growth of approximately 24% to S$227.2 million in its fiscal 2009. The company has grown its sales revenue both organically as well as through acquisition of Legerity.

Zarlink Semiconductor's Q4 fiscal 2009 revenues are down by 3.7 millions to $51.1 million from $54.8 million in Q3 fiscal 09.

A non-cash impairment charge of US$46.9 million related to goodwill has added to the quarterly loss of $50.3 million.


The segment wise revenue figures are:

Communication Products group revenue increased by 21% to US$140.0 million in Fiscal 2009 from US$115.4 million in Fiscal 2008, due primarily to revenue gained through the acquisition of Legerity.
Medical Products group revenue increased by 24% to US$34.7 million in Fiscal 2009 from US$28.0 million in Fiscal 2008.
Optical Products group revenue increased by 42% to US$22.7 million in Fiscal 2009 from US$16.0 million in Fiscal 2008.
Custom and Other products group revenue increased by 23% to US$29.8 million in Fiscal 2009 from US$24.2 million in Fiscal 2008.

"In Fiscal 2009, we generated significant growth across all key product areas and strengthened our financial position, despite global economic challenges," said Kirk K. Mandy, President and CEO, Zarlink Semiconductor. "New products for the communications, optical interconnect and medical wireless markets have helped deepen relationships with existing customers and expand our sales opportunities. We have driven top line growth and generated positive cash from operations for the year, while significantly improving our cost structure and balance sheet. It is also important to note that, excluding a non-cash goodwill impairment charge, we returned to profitability."