UPDATE 1-Astronics widens Q4 loss on asset write-off
* Says widens Q4 loss by $0.15/shr
* Still sees 2009 rev $230 mln-$245 mln
March 2 (Reuters) - Astronics Corp (ATRO.O) widened its fourth-quarter loss by 15 cents a share to reflect the write-off of all remaining assets related to its business with bankrupt Eclipse Aviation Corp.
Eclipse last week informed its suppliers that it has suspended all business operations after deciding not to contest a motion by senior secured creditors to convert its bankruptcy proceedings to a Chapter 7 liquidation, the company said.
In the results reported on Feb. 12, Astronics, which provides lighting and electrical distribution systems to the aerospace industry, had $1 million of accounts receivable and $9 million of inventory and equipment related to Eclipse.
The revised results include an additional pre-tax charge of $2.5 million for inventory and equipment related to Eclipse.
The revised net loss for the fourth quarter is $1.8 million, or 17 cents a share.
Shares of the company closed at $7.92 Monday on Nasdaq.
For alerts, double-click [ID:nWNAB9173] (Reporting by Amulya Nagaraj in Bangalore; Editing by Anne Pallivathuckal)
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