SAN JOSE, Calif. Canada's Zarlink Semiconductor Inc. on Wednesday (Jan. 26) announced that Patrick Brockett, its president and chief executive, has resigned to pursue other interests, effective immediately.
Zarlink (Ottawa) also announced the appointment of Kirk K. Mandy, vice chairman of the board, as interim president and chief executive.
No reason was given for the sudden changes. In 2001, Brockett joined the company after a 22-year career with National Semiconductor Corp., where he was in charge of the company's analog products.
In addition, Zarlink announced new board members, including Dennis A. Roberson, former chief technology officer for both Motorola and NCR Corp., and Kari-Pekka Wilska, president of Nokia Inc.
Brockett's departure follows a string of losses at Zarlink, a supplier of communications chips. On Wednesday, the company said that third quarter revenue was $51.2 million, compared with $58.8 million in the second quarter, and $47.0 million in the third quarter of fiscal 2004.
The company reported a third quarter net loss of $7.6 million, or $0.06 per share. In comparison, Zarlink recorded a net loss of $11.2 million, or $0.09 per share for the third quarter in fiscal 2004.
For the first nine months of fiscal 2005, revenues reached $165.8 million, up 13 percent from $147.3 million in the same period a year ago. Net income for the first nine months was $3.1 million, or $0.01 per share. This compares with a net loss of $36.3 million, or $0.30 per share, in the first nine months of fiscal 2004.