Metris H1 loss soars, warns of more pain in 2009

BRUSSELS, August 27 (Reuters) -- Belgian measuring equipment firm Metris, set to be swallowed by Japan's Nikon Corp (7731.T), generated less in revenues than it incurred in net losses in the first half and gave a gloomy outlook for the rest of 2009.

The firm said the recession battered earnings in the second quarter along with customers' capital expenditure budgets. It said both its optical and mechanical businesses were badly affected.

First half sales fell to 18.4 million euros ($26.35 million) from 48.4 million in the same period of 2008. Its net loss widened to 18.5 million euros from 925,000 euros.

"For the whole year, Metris will continue to suffer from recession," it said in its statement.

In coming years it expects to return to double-digit organic sales growth and sharply higher operating margins as the economy recovers and it implements "(major) synergies on sales and integration of technologies", it added.

Metris said first half earnings were impacted by financial costs of 4.7 million euros. It also incurred a one-time cost of 2.8 million euros related to Nikon's friendly takeover bid.

(Reporting by Anne Jolis; editing by John Stonestreet) ($1=.6983 Euro)