* Q4 loss $0.12 wider than est loss $0.01
* Rev rises 29 pct to $60.6 mln
* Sees 2009 rev up by 10 pct compared to 2008
* Shares slump 41 pct (Adds details from conference call, share movement)
Dec 11 (Reuters) - Emcore Corp EMKR.O, a maker of compound semiconductor-based components and subsystems, posted a wider-than-expected quarterly loss on lower gross margins related to expenses on inventory write-downs and product warranty accruals, knocking its shares down as much as 41 percent.
The company said it expects first-quarter revenue to be relatively flat on a sequential basis with a significantly improved bottom line and forecast fiscal 2009 revenue to increase by 10 percent compared to fiscal 2008.
In a conference call with analysts, the company said it had already cut about 100 jobs, reduced 2008 employee bonus payouts, eliminated 2009 employee bonus and merit increases, and lowered capital expenditures as measures to reduce its cost structure.
For the fourth quarter, Emcore reported a loss of $19.4 million, or 25 cents a share, compared with a loss of $17.5 million, or 34 cents share, a year earlier. Excluding items, net loss was 12 cents a share.
Gross margins for the quarter ended Sept. 30 decreased from 17.4 percent to a negative 0.8 percent.
The company said its fiber optics and photovoltaics segments incurred about $5.4 million and $6.9 million respectively, in expenses related to inventory write-downs and product warranty accruals.
Shares of the Albuquerque, New Mexico-based company slumped to a low of 91 cents, before paring some losses to trade down more than 34 percent at $1.01 Thursday afternoon on Nasdaq.
For the company’s press release, please click [ID:nPnNY51583]
For the alerts, please click [ID:nWNAB1684] (Reporting by Sandhya Menon in Bangalore; Editing by Jarshad Kakkrakandy, Deepak Kannan)
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