* Q3 EPS C$0.32 vs est C$0.34
* Q3 rev C$556.3 mln vs est C$560.2 mln
* CEO to assume CFO's role in the interim
Nov 11 (Reuters) - Linamar Corp posted a quarterly profit that trailed estimates, partly hurt by a decline in demand in the agricultural equipment markets, and said its chief financial officer has resigned.
For the July-September quarter, the Canadian maker of auto parts and other precision machined components posted a net income of C$21 million, or 32 Canadian cents a share, compared with a loss of C$500,000, or 1 cent a share, last year.
Analysts on an average were expecting the company to earn 34 Canadian cents a share, according to Thomson Reuters I/B/E/S.
Sales rose 32 percent to C$556.3 million, while analysts were expecting C$560.2 million.
The company said its Chief Financial Officer Edward Mahood has resigned and the Chief Executive Linda Hasenfratz will serve as CFO till a replacement is identified.
The company's shares, which have gained about 61 percent year-to-date, closed at C$22.39 on Thursday on the Toronto Stock Exchange.
(Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon)
(aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))
Keywords: LINAMAR/
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.
* Q3 rev C$556.3 mln vs est C$560.2 mln
* CEO to assume CFO's role in the interim
Nov 11 (Reuters) - Linamar Corp posted a quarterly profit that trailed estimates, partly hurt by a decline in demand in the agricultural equipment markets, and said its chief financial officer has resigned.
For the July-September quarter, the Canadian maker of auto parts and other precision machined components posted a net income of C$21 million, or 32 Canadian cents a share, compared with a loss of C$500,000, or 1 cent a share, last year.
Analysts on an average were expecting the company to earn 34 Canadian cents a share, according to Thomson Reuters I/B/E/S.
Sales rose 32 percent to C$556.3 million, while analysts were expecting C$560.2 million.
The company said its Chief Financial Officer Edward Mahood has resigned and the Chief Executive Linda Hasenfratz will serve as CFO till a replacement is identified.
The company's shares, which have gained about 61 percent year-to-date, closed at C$22.39 on Thursday on the Toronto Stock Exchange.
(Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon)
(aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))
Keywords: LINAMAR/
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.