UPDATE 1-Canada's Gennum posts Q2 loss

* Q2 loss of $0.03/shr vs. $0.14/shr profit last year

* Revenue down 41 pct to $19.4 mln

* Sees modest improvement in orders

June 24 (Reuters) - Canada's intellectual property firm Gennum Corp (GND.TO) slipped to a quarterly loss, hurt by currency fluctuations and aggressive customer inventory reductions within the video broadcast market.

For the second quarter, Gennum reported a net loss of $1.1 million, or 3 cents per share, compared with a net earnings of $4.8 million, or 14 cents per share, a year-ago.

The company said it incurred a $3.3 million translation loss due a strong Canadian dollar.

Revenue fell 41 percent to $19.4 million in the quarter, hurt by global economic downturn and its resultant effects upon the markets for its products.

The company said based on its order trends, the majority of its customers are close to completing their inventory correction.

"We are seeing modest improvement in orders and end market demand in all of our product groups. However, we continue to take aggressive steps to control our expenses to improve profitability and cash flow," Gennum Chief Executive Franz Fink said in a statement.

Gennum shares closed up 13 Canadian cents at C$4.20 Wednesday on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Gopakumar Warrier)