Zarlink Releases Second Quarter Fiscal 2006 Results

As a supplementary measure to effectively manage the Company's total cash assets, management combines its cash and cash equivalents, short-term investments and restricted cash to represent the Company's total portfolio of cash assets. Short-term investments comprise highly liquid low risk debt instruments that are held to maturity with terms of not greater than one year, but generally for much shorter periods. Restricted cash consists of cash pledged with a bank as collateral for various letters of credit. In this supplementary schedule, investing activities exclude items related to purchased short-term investments and matured short-term investments; financing activities exclude the hypothecation of cash under letters of credit; and the effect of currency translation is calculated on all cash assets. The combination of cash, cash equivalents, short-term investments and restricted cash is a non-GAAP measure. A detailed reconciliation to arrive at the supplementary measure of cash, cash equivalents, short-term investments and restricted cash is presented below as part of this earnings press release. Readers are cautioned that cash, cash equivalents, short-term investments and restricted cash combined together do not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures prescribed by other companies. These indicators should not be considered as a substitute or alternative for the consolidated statements of cash flows.

                               Three Months Ended          Six Months Ended
                       -------------------------------- ---------------------
                       Sept. 23,   June 25,  Sept. 24,  Sept. 23,  Sept. 24,
                           2005       2005       2004       2005       2004
                       -------------------------------- ---------------------

    Cash and cash
     equivalents,
     beginning of
     period            $   18.5   $   19.4   $   23.3   $   19.4   $   27.0
    Short-term
     investments,
     beginning of
     period                28.1       39.6       54.6       39.6       54.8
    Restricted cash,
     beginning of
     period                13.9       13.9       10.0       13.9       10.0
                       -------------------------------- ---------------------
    Cash, cash
     equivalents,
     short-term
     investments and
     restricted cash,
     beginning of
     period                60.5       72.9       87.9       72.9       91.8
                       -------------------------------- ---------------------

    Cash provided
     by (used in):
    Operating
     activities,
     before changes
     in working capital    (0.7)      (4.9)       2.4       (5.6)       5.5
    Changes in working
     capital               (3.3)      (7.9)      (0.3)     (11.2)     (13.4)
                       -------------------------------- ---------------------
    Operating activities   (4.0)     (12.8)       2.1      (16.8)      (7.9)

    Investing activities    0.1        1.6        1.7        1.7        8.3

    Financing activities   (1.0)      (0.9)      (0.5)      (1.9)      (1.1)
                       -------------------------------- ---------------------

    Cash inflows
     (outflows) before
     the effect of
     currency translation
     on cash, cash
     equivalents,
     short-term
     investments and
     restricted cash       (4.9)     (12.1)       3.3      (17.0)      (0.7)
                       -------------------------------- ---------------------

    Effect of currency
     translation on
     cash, cash
     equivalents,
     short-term
     investments and
     restricted cash          -       (0.3)         -       (0.3)       0.1
                       -------------------------------- ---------------------

    Cash, cash
     equivalents,
     short-term
     investments and
     restricted cash,
     end of period     $    55.6  $    60.5  $   91.2   $   55.6   $   91.2
                       -------------------------------- ---------------------
                       -------------------------------- ---------------------

    Represented by:
      Cash and cash
       equivalents,
       end of period   $   41.5   $   18.5   $   34.0   $   41.5   $   34.0
      Short-term
       investments,
       end of period          -       28.1       47.2          -       47.2
      Restricted cash,
       end of period       14.1       13.9       10.0       14.1       10.0
                                     --------------------------------  ---------------------
                                              $      55.6      $      60.5      $      91.2      $      55.6      $      91.2
                                              --------------------------------  ---------------------
                                              --------------------------------  ---------------------


                                                  Zarlink  Semiconductor  Inc.
                                                      SUPPLEMENTARY  SCHEDULES
                                    (in  millions  of  U.S.  dollars,  U.S.  GAAP)
                                                                  (Unaudited)


        Product  Information
        -------------------

        Revenue,  by  product,  was  distributed  as  follows:

                                                              Three  Months  Ended                    Six  Months  Ended
                                              --------------------------------  ---------------------
                                              Sept.  23,      June  24,    Sept.  24,    Sept.  23,    Sept.  24,
                                                      2005              2005              2004              2005              2004
                                              --------------------------------  ---------------------

        Network
          Communications        $      22.1      $      22.2      $      26.9      $      44.3      $      52.8
        Consumer
          Communications                16.6              14.9              20.6              31.5              39.8
        Ultra  Low-Power
          Communications                  8.2                8.4              11.3              16.6              22.0
                                              --------------------------------  ---------------------
        Total                            $      46.9      $      45.5      $      58.8      $      92.4      $    114.6
                                              --------------------------------  ---------------------
                                              --------------------------------  ---------------------


        Geographic  Information:
        -----------------------

        Revenue,  based  on  the  geographic  location  of  Zarlink's  customers,  was
distributed  as  follows:

                              Three                                  Three                                  Three
                            Months                                Months                                Months
                              Ended                                  Ended                                  Ended
                        Sept.  23,            %  of        June  24,            %  of      Sept.  24,            %  of
                                2005            Total              2005            Total              2004            Total
                        ----------  ----------  ----------  ----------  ----------  ----------

        Asia  -
          Paci-
          fic        $      21.1                  45  %  $      21.7                  48  %  $      24.0                  41  %
        Europe            14.5                  31              12.8                  28              18.4                  31
        Americas        11.3                  24              11.0                  24              16.4                  28
                        ----------  ----------  ----------  ----------  ----------  ----------
                        $      46.9                100  %  $      45.5                100  %  $      58.8                100  %
                        ----------  ----------  ----------  ----------  ----------  ----------
                        ----------  ----------  ----------  ----------  ----------  ----------

                                                                              Six                                      Six
                                                                        Months                                Months
                                                                          Ended                                  Ended
                                                                    Sept.  23,            %  of      Sept.  24,            %  of
                                                                            2005            Total              2004            Total
                                                                    ----------  ----------  ----------  ----------

        Asia  -
          Paci-
          fic                                                    $      42.8                  46  %  $      48.0                  42  %
        Europe                                                        27.3                  30              34.4                  30
        Americas                                                    22.3                  24              32.2                  28
                                                                    ----------  ----------  ----------  ----------
                                                                    $      92.4                100  %  $    114.6                100  %
                                                                    ----------  ----------  ----------  ----------
                                                                    ----------  ----------  ----------  ----------


                                                  Zarlink  Semiconductor  Inc.
                                                      SUPPLEMENTARY  SCHEDULES
                                    (in  millions  of  U.S.  dollars,  U.S.  GAAP)
                                                                  (Unaudited)


        Information  on  Business  Segments
        --------------------------------

                                                                                                Ultra
        Three  Months                Network      Consumer    Low-Power          Unallo-
        Ended                              Communi-      Communi-      Communi-          cated
        Sept.  23,  2005            cations        cations        cations            Gains            Total
                                              ------------------------------------------------------
        Revenue                        $      22.1      $      16.6      $        8.2      $            -      $      46.9
        Depreciation  of
          buildings  and
          equipment                            0.7                0.5                0.4                    -                1.6
        Segments'  operating
          loss                                    (1.2)            (0.1)            (0.7)                  -              (2.0)


                                                                                                Ultra
        Three  Months                Network      Consumer    Low-Power          Unallo-
        Ended                              Communi-      Communi-      Communi-          cated
        June  24,  2005              cations        cations        cations            Gains            Total
                                              ------------------------------------------------------
        Revenue                        $      22.2      $      14.9      $        8.4      $            -      $      45.5
        Depreciation  of
          buildings  and
          equipment                            0.9                0.5                0.4                    -                1.8
        Gain  on  sale  of
          foundry  business                  -                    -                    -              (1.9)            (1.9)
        Segments'  operating
          income  (loss)                  (2.8)            (3.6)            (1.0)              1.9              (5.5)


                                                                                                Ultra
        Three  Months                Network      Consumer    Low-Power          Unallo-
        Ended                              Communi-      Communi-      Communi-          cated
        Sept.  24,  2004            cations        cations        cations            Gains            Total
                                              ------------------------------------------------------
        Revenue                        $      26.9      $      20.6      $      11.3      $            -      $      58.8
        Depreciation  of
          buildings  and
          equipment                            1.1                0.8                0.4                    -                2.3
        Gain  on  sale  of
          foundry  business                  -                    -                    -              (2.9)            (2.9)
        Segments'  operating
          income  (loss)                    3.0              (1.8)            (1.0)              2.9                3.1


                                                                                              Ultra
        Six  Months                    Network      Consumer    Low-Power          Unallo-
        Ended                              Communi-      Communi-      Communi-          cated
        Sept.  23,  2005            cations        cations        cations            Gains            Total
                                              ------------------------------------------------------
        Revenue                        $        44.3    $      31.5      $      16.6      $            -      $      92.4
        Depreciation  of
          buildings  and
          equipment                            1.6                1.0                0.8                    -                3.4
        Gain  on  sale  of
          foundry  business                  -                    -                    -              (1.9)            (1.9)
        Segments'  operating
          income  (loss)                  (4.0)            (3.7)            (1.7)              1.9              (7.5)


                                                                                              Ultra
        Six  Months                    Network      Consumer    Low-Power          Unallo-
        Ended                              Communi-      Communi-      Communi-          cated
        Sept.  24,  2004            cations        cations        cations            Gains            Total
                                              ------------------------------------------------------
        Revenue                        $      52.8      $      39.8      $      22.0      $            -      $    114.6
        Depreciation  of
          buildings  and
          equipment                            2.1                1.6                0.9                    -                4.6
        Gain  on  sale  of
          foundry  business                  -                    -                    -              (9.9)            (9.9)
        Segments'  operating
          income  (loss)                    5.1              (3.8)            (1.5)              9.9                9.7

        >>
 





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