VANCOUVER , Feb 16 (Reuters) - Aastra Technologies Ltd posted a tenfold increase in quarterly profit on Tuesday, though its revenues dipped, as the business communications company kept a lid on expenses and cut its spending on research and development.
Aastra said it earned C$15.3 million ($14.7 million), or C$1.01 a share, in the three months ended Dec. 31. That was up from a profit of C$1.5 million, or 10 Canadian cents a share, a year earlier.
Revenue fell 16.8 percent to C$217.8 million.
Analysts had expected the company to earn C$1.01 a share on revenue of C$220.2 million, according to Thomson Reuters I/B/E/S.
The Concord, Ontario-based company said its gross margin dipped slightly to 45 percent of sales in the fourth quarter from 47 percent a year earlier.
Its selling, general and administrative expenses fell to C$51.6 million from C$67.9 million the year before. Research and development expenses dropped to C$19.2 million from C$27.7 million a year earlier.
The company reported results after markets closed. Its shares rose 32 Canadian cents to C$32.65 on the Toronto Stock Exchange on Tuesday.
($1=$1.04 Canadian)
(Reporting by Nicole Mordant; editing by Peter Galloway) Keywords: AASTRATECHNOLOGIES/ (nicole.mordant@reuters.com; +1 604 664 7315; Reuters Messaging: nicole.mordant.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Aastra said it earned C$15.3 million ($14.7 million), or C$1.01 a share, in the three months ended Dec. 31. That was up from a profit of C$1.5 million, or 10 Canadian cents a share, a year earlier.
Revenue fell 16.8 percent to C$217.8 million.
Analysts had expected the company to earn C$1.01 a share on revenue of C$220.2 million, according to Thomson Reuters I/B/E/S.
The Concord, Ontario-based company said its gross margin dipped slightly to 45 percent of sales in the fourth quarter from 47 percent a year earlier.
Its selling, general and administrative expenses fell to C$51.6 million from C$67.9 million the year before. Research and development expenses dropped to C$19.2 million from C$27.7 million a year earlier.
The company reported results after markets closed. Its shares rose 32 Canadian cents to C$32.65 on the Toronto Stock Exchange on Tuesday.
($1=$1.04 Canadian)
(Reporting by Nicole Mordant; editing by Peter Galloway) Keywords: AASTRATECHNOLOGIES/ (nicole.mordant@reuters.com; +1 604 664 7315; Reuters Messaging: nicole.mordant.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.